Sample business plan for used furniture store

Keep in mind that your business plan should also include a title page with your contact info and a Table of Contents. Below each section, I've included comments in brackets suggesting other ways you could handle the section, areas to consider, etc. We will accept customer trade-ins and will also purchase supplemental inventory from thrift stores, library sales, etc.

Sample business plan for used furniture store

Town B Although Town B looks more competitive 10 competitors vs. The definition of a potential customer will depend on your type of business.

For example if you are opening a small shop selling office furniture then your market will be all the companies within your delivery range. As in the example above it is likely that most companies would have only one person in charge of purchasing furniture hence you wouldn't take the size of these businesses in consideration when assessing the number of potential customers.

You would however factor it when assessing the value of the market. Market value Estimating the market value is often more difficult than assessing the number of potential customers.

sample business plan for used furniture store

The first thing to do is to see if the figure is publicly available as either published by a consultancy firm or by a state body. It is very likely that you will find at least a number on a national level.

If not then you can either buy some market research or try to estimate it yourself. Methods for building an estimate There are 2 methods that can be used to build estimates: The bottom up approach consist in building a global number starting with unitary values. In our case the number of potential clients multiplied by an average transaction value.

Let's keep our office furniture example and try to estimate the value of the 'desk' segment. We would first factor in the size of the businesses in our delivery range in order to come up with the size of the desks park.

Then we would try to estimate the renewal rate of the park to get the volume of annual transactions. Finally, we would apply an average price to the annual volume of transactions to get to the estimated market value. Here is a summary of the steps including where to find the information: You can get the number and size of businesses in your delivery area from the national statistics.

Your accountant should be able to give you the useful life of a desk but you should know it since it is your market! You can compare the desk prices of other furniture stores in your area.

As a side note here: That was the bottom up approach, now let's look into the top down approach. The top down approach consist in starting with a global number and reducing it pro-rata.

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Once again the number of employees would only be a rough proxy given all business don't have the same furniture requirements. When coming up with an estimate yourself it is always a good practice to test both the bottom up and top down approaches and to compare the results.

If the numbers are too far away then you probably missed something or used the wrong proxy. Once you have estimated the market size you need to explain to your reader which segment s of the market you view as your target market.

Target Market The target market is the type of customers you target within the market.A key part of any business plan is the market analysis.

This section needs to demonstrate both your expertise in your particular market and the attractiveness of the market from a financial standpoint. That means store space, business registration, marketing & promotions, and business systems. It should also cover insurance and taxes.

You should also figure out your margins as part of your budget. The NOOK Book (eBook) of the Christian Book Store Start Up Sample Business Plan!

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Keep in mind that your business plan should also include a title page with your contact info and a Table of Contents.

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And we soon found a building where another thrift store business had formerly operated (a boon since many of the old firm's customers came to us).

Then we got the first load of furniture and The.

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