Start-up Funding | |
Start-up Expenses to Fund | $41,300 |
Start-up Assets to Fund | $221,700 |
Total Funding Required | $263,000 |
Assets | |
Non-cash Assets from Start-up | $93,000 |
Cash Requirements from Start-up | $128,700 |
Additional Cash Raised | $0 |
Cash Balance on Starting Date | $128,700 |
Total Assets | $221,700 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $50,000 |
Accounts Payable (Outstanding Bills) | $0 |
Other Current Liabilities (interest-free) | $0 |
Total Liabilities | $50,000 |
Capital | |
Planned Investment | |
Investor 1 | $95,000 |
Investor 2 | $68,000 |
Other | $50,000 |
Additional Investment Requirement | $0 |
Total Planned Investment | $213,000 |
Loss at Start-up (Start-up Expenses) | ($41,300) |
Total Capital | $171,700 |
Total Capital and Liabilities | $221,700 |
Total Funding | $263,000 |
Green Office is a privately held corporation owned by Stan Cooksey. Green Office has been incorporated in Illinois.
Green Office offers a wide range of office supplies, all of which are environmentally friendly, they either use recycled content materials, sustainable products, or substitute toxic chemicals with non-toxic substitutes. Products include:
Green Office believes that it faces a market with many opportunities and significant demand. Green Office’s three main customer segments will be corporations, government agencies, and others which is a “catch all” category.
The office supply industry operates with several different large companies and many small ones. Within the office supplies industry there exists a niche of environmentally-friendly companies that Green Office competes against. Some of these companies serve local markets, others are Web-based for broader coverage.
Green Office has identified three customer segments that it will go after:
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Corporations | 8% | 12,009 | 12,970 | 14,008 | 15,129 | 16,339 | 8.00% |
Government Agencies | 3% | 7,886 | 8,123 | 8,367 | 8,618 | 8,877 | 3.00% |
Other | 7% | 56,888 | 60,870 | 65,131 | 69,690 | 74,568 | 7.00% |
Total | 6.77% | 76,783 | 81,963 | 87,506 | 93,437 | 99,784 | 6.77% |
As mentioned previously in the Market Segmentation section, three customer groups have been identified. Two of these, corporations and government agencies are quite attractive as customer segments. The third is used as a “catch all” category. The strategy will be the use of a targeted sales campaign that uses specific sales agents each of whom are responsible for a specific customer group.
The hiring process for these sales agents will be done with the specific group in mind. The agent responsible for the government agencies will be chosen based on his past experience and proficiency in selling to government agencies if possible. Green Office will therefore provide each experienced sales person with an exclusive territory, assisting them in achieving high sales marks for the respective customer group.
The broader industry that Green Office competes in the office supplies industry. Within that industry there are several market leaders:
Competition comes from two sources, direct and indirect competitors. Direct competitors are companies that offer similar lines of environmentally-friendly products. The main companies are:
The indirect competitors are companies within the office supplies industry who offer eco supplies, but do not concentrate on these products. Customers’ buying patterns are based on two main factors:
Green Office’s goal of becoming a major vendor of environmentally-friendly office supplies is an ambitious but achievable goal. Green Office will leverage its two part competitive edge to achieve this goal. The first edge is an unbeatable selection of green office supplies.
This all inclusive product catalog creates a compelling one stop shopping venue. This wonderful product selection will be supported by a customer-centric company culture. The marketing and sales strategies support these two competitive edges.
The marketing strategy seeks to develop an awareness of Green Office and its ability to offer a wide selection of eco-friendly office products. All products will be priced competitively, often at the same low price as non eco-friendly products.
The sales strategy will use specially engineered economic incentives that channel account manager behavior into the mode of ensuring, happy, long-term customers. This entire strategy is based on the company’s philosophy that it is far cheaper to maintain a current customer than it is to attract new ones.
Green Office competitive edge is two fold, a wide selection of office supplies making it a one stop shopping place and a strong customer service oriented organization where the customers are assigned a specific sales agent/account manager to assist them.
By offering a strong product catalog, customers are able to place all of their office supplies orders at one place instead of having to contact multiple vendors each week or month, whatever the interval may be. Creating the perception that all of the company’s office supply needs can be met by one company, Green Office has a competitive edge.
The second edge is Green Office’s focus on customer service. The company recognizes that if long-term sustainable growth is desired, the customers must feel like that they are being offered the finest service. This will ensure the building of a loyal customer base that will assist Green Office in becoming a sustainable operation.
The marketing strategy will be based on a communication effort that announces Green Office’s two competitive edges, their selection and customer service. To be able to order all of an office’s supply needs from one easy-to-work-with vendor is a significant value. Backing up the extensive product catalog with top rate customer service will retain customers.
Green Office will undertake a marketing campaign that communicates its competitive edge. The campaign will rely primarily on print advertising. The media outlets to be used will be determined based on the readership levels and targeted companies. The campaign will develop an awareness of Green Office to the targeted customers. The development of an awareness or image of Green Office is the first step in the implementation strategy, the second step is the sales strategy detailed in the following section.
Green Office’s sales strategy will be based on the conversion of qualified sales leads into paying customers. The key emphasis here is customer service. Green Office recognizes that customers desire that their needs are taken care of.
Additionally, customers want a seemless experience where their expectations are managed. Green Office will accomplish these lofty goals by assigning a specific account manager/sales agent to each customer (assigned by the customer type). The sales agent receives a commission not just for the individual sale but also using a complex formula that takes into account long-term customer satisfaction of the client.
Green Office therefore has developed an economic incentive for its account managers to develop long-term customers. This incentive based system is key to the sales strategy because it creates an incentive for the sales agent to take into account Green Office’s strategic survival, not just the agents short-term compensation. In addition, long-term customers are more profitable than new customers.
Green Office adopted a conservative forecast for the business plan. These conservative estimates will help ensure that the company does not face any cash flow shortages within the first couple of years The sales forecast also takes into account that Green Office is a start-up organization and it will take time to generate a level of sustainable sales. Sales will increase at a slow but steady rate. Please see the three following table and charts for graphical representation of the sales forecasts.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Corporations | $92,892 | $298,887 | $366,544 |
Government Agencies | $107,470 | $358,664 | $439,853 |
Other | $59,362 | $161,399 | $197,934 |
Total Sales | $259,724 | $818,950 | $1,004,331 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Corporations | $47,380 | $194,277 | $238,254 |
Government Agencies | $56,856 | $233,132 | $285,904 |
Other | $25,585 | $104,909 | $128,657 |
Subtotal Direct Cost of Sales | $129,821 | $532,318 | $652,815 |
Green Office has identified four specific milestones that will serve as goals for the organization to achieve. While the milestones are lofty in terms of qualitative standards and the timeline deadline, they are achievable.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Business plan completion | 1/1/2004 | 2/15/2004 | $0 | Stan | Business Development |
First major government agency account | 1/1/2004 | 4/1/2004 | $0 | Sales Manager | Sales |
$200K in sales | 1/1/2004 | 2/15/2005 | $0 | Sales Manager | Sales |
Profitability | 1/1/2004 | 6/1/2005 | $0 | Stan | Entire company |
Totals | $0 |
The website will be developed to offer customers a product catalog for online orders. The overriding design philosophy of the site is ease of use. Green Office wants to make the process of placing an order as easy and fast as possible thereby encouraging increased sales. Green Office will incorporate special features such as a section that is specific to each customer so the customer can easily make purchases of repeat items. Instead of going through the website every month and locating their monthly needs, the site captures regularly ordered items for that specific customer, significantly speeding up the ordering process. This ease-of-use feature will help increase sales as customers become more and more familiar with the site and appreciate how easy it is to place an order.
The marketing strategy for the website will begin initially with a simple strategy of search engine submissions and the use of pay-per-clicks which is a service of Google and Overture where the company pays the search engine every time a surfer clicks through to the Green Office site.
Green Office has secured a start-up website design company to design and develop the site. As a result, the company is able to negotiate a favorable rate for the development and maintenance of the site.
7.1 personnel plan.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Stan | $20,000 | $22,000 | $24,200 |
Willma | $20,000 | $22,000 | $24,200 |
Sales | $15,000 | $16,500 | $18,150 |
Sales | $12,000 | $13,200 | $14,520 |
Sales | $9,000 | $9,900 | $10,890 |
Accounting | $6,400 | $7,040 | $7,744 |
Shipping | $15,000 | $16,500 | $18,150 |
Shipping | $12,000 | $13,200 | $14,520 |
Shipping | $7,000 | $7,700 | $8,470 |
Admin/customer support | $10,000 | $11,000 | $12,100 |
Admin/customer support | $4,800 | $5,280 | $5,808 |
Total People | 11 | 11 | 11 |
Total Payroll | $131,200 | $144,320 | $158,752 |
The following sections will outline important financial information.
The following table details important Financial Assumptions.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 9.00% | 9.00% | 9.00% |
Long-term Interest Rate | 8.00% | 8.00% | 8.00% |
Tax Rate | 30.00% | 30.00% | 30.00% |
Other | 0 | 0 | 0 |
The following table and chart show our break-even analysis.
Break-even Analysis | |
Monthly Revenue Break-even | $31,303 |
Assumptions: | |
Average Percent Variable Cost | 50% |
Estimated Monthly Fixed Cost | $15,657 |
The following table will indicate Projected Profit and Loss.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $259,724 | $818,950 | $1,004,331 |
Direct Cost of Sales | $129,821 | $532,318 | $652,815 |
Other Costs of Goods | $0 | $0 | $0 |
Total Cost of Sales | $129,821 | $532,318 | $652,815 |
Gross Margin | $129,903 | $286,633 | $351,516 |
Gross Margin % | 50.02% | 35.00% | 35.00% |
Expenses | |||
Payroll | $131,200 | $144,320 | $158,752 |
Sales and Marketing and Other Expenses | $2,400 | $2,400 | $2,400 |
Depreciation | $8,700 | $8,700 | $8,700 |
Rent | $12,000 | $12,000 | $12,000 |
Utilities | $6,000 | $6,000 | $6,000 |
Insurance | $2,400 | $2,400 | $2,400 |
Payroll Taxes | $19,680 | $27,180 | $28,080 |
Website Maintenance | $5,500 | $6,500 | $7,500 |
Total Operating Expenses | $187,880 | $209,500 | $225,832 |
Profit Before Interest and Taxes | ($57,977) | $77,133 | $125,684 |
EBITDA | ($49,277) | $85,833 | $134,384 |
Interest Expense | $3,854 | $3,731 | $3,500 |
Taxes Incurred | $0 | $22,021 | $36,655 |
Net Profit | ($61,831) | $51,381 | $85,528 |
Net Profit/Sales | -23.81% | 6.27% | 8.52% |
The following chart and table will indicate Projected Cash Flow.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $64,931 | $204,738 | $251,083 |
Cash from Receivables | $151,445 | $520,877 | $722,308 |
Subtotal Cash from Operations | $216,376 | $725,615 | $973,390 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $3,000 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $36,000 | $0 |
Subtotal Cash Received | $216,376 | $764,615 | $973,390 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $131,200 | $144,320 | $158,752 |
Bill Payments | $130,946 | $601,459 | $748,773 |
Subtotal Spent on Operations | $262,146 | $745,779 | $907,525 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $2,234 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $3,403 | $3,302 | $3,324 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $265,548 | $749,080 | $913,083 |
Net Cash Flow | ($49,173) | $15,534 | $60,308 |
Cash Balance | $79,527 | $95,062 | $155,369 |
The following table will indicate the Projected Balance Sheet.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $79,527 | $95,062 | $155,369 |
Other Current Assets | $3,500 | $3,500 | $3,500 |
Total Current Assets | $141,788 | $269,506 | $368,509 |
Long-term Assets | |||
Long-term Assets | $43,500 | $43,500 | $43,500 |
Accumulated Depreciation | $8,700 | $17,400 | $26,100 |
Total Long-term Assets | $34,800 | $26,100 | $17,400 |
Total Assets | $176,588 | $295,606 | $385,909 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $20,122 | $52,060 | $62,392 |
Current Borrowing | $0 | $3,000 | $766 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $20,122 | $55,060 | $63,158 |
Long-term Liabilities | $46,597 | $43,296 | $39,972 |
Total Liabilities | $66,719 | $98,356 | $103,131 |
Paid-in Capital | $213,000 | $249,000 | $249,000 |
Retained Earnings | ($41,300) | ($103,131) | ($51,750) |
Earnings | ($61,831) | $51,381 | $85,528 |
Total Capital | $109,869 | $197,250 | $282,779 |
Total Liabilities and Capital | $176,588 | $295,606 | $385,909 |
Net Worth | $109,869 | $197,250 | $282,779 |
The following table shows common Business Ratios, specific to Green Office as well as to the industry as a whole.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 215.32% | 22.64% | 1.50% |
Percent of Total Assets | ||||
Accounts Receivable | 24.55% | 46.24% | 43.44% | 38.65% |
Inventory | 8.73% | 11.59% | 10.89% | 28.15% |
Other Current Assets | 1.98% | 1.18% | 0.91% | 18.82% |
Total Current Assets | 80.29% | 91.17% | 95.49% | 85.62% |
Long-term Assets | 19.71% | 8.83% | 4.51% | 14.38% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 11.39% | 18.63% | 16.37% | 43.40% |
Long-term Liabilities | 26.39% | 14.65% | 10.36% | 11.10% |
Total Liabilities | 37.78% | 33.27% | 26.72% | 54.50% |
Net Worth | 62.22% | 66.73% | 73.28% | 45.50% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 50.02% | 35.00% | 35.00% | 22.64% |
Selling, General & Administrative Expenses | 96.00% | 31.88% | 28.47% | 13.42% |
Advertising Expenses | 0.00% | 0.00% | 0.00% | 0.26% |
Profit Before Interest and Taxes | -22.32% | 9.42% | 12.51% | 1.70% |
Main Ratios | ||||
Current | 7.05 | 4.89 | 5.83 | 1.77 |
Quick | 6.28 | 4.27 | 5.17 | 1.07 |
Total Debt to Total Assets | 37.78% | 33.27% | 26.72% | 5.52% |
Pre-tax Return on Net Worth | -56.28% | 37.21% | 43.21% | 59.64% |
Pre-tax Return on Assets | -35.01% | 24.83% | 31.66% | 13.69% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | -23.81% | 6.27% | 8.52% | n.a |
Return on Equity | -56.28% | 26.05% | 30.25% | n.a |
Activity Ratios | ||||
Accounts Receivable Turnover | 4.49 | 4.49 | 4.49 | n.a |
Collection Days | 56 | 53 | 74 | n.a |
Inventory Turnover | 5.91 | 21.43 | 17.12 | n.a |
Accounts Payable Turnover | 7.51 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 21 | 28 | n.a |
Total Asset Turnover | 1.47 | 2.77 | 2.60 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.61 | 0.50 | 0.36 | n.a |
Current Liab. to Liab. | 0.30 | 0.56 | 0.61 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $121,666 | $214,446 | $305,351 | n.a |
Interest Coverage | -15.04 | 20.67 | 35.91 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.68 | 0.36 | 0.38 | n.a |
Current Debt/Total Assets | 11% | 19% | 16% | n.a |
Acid Test | 4.13 | 1.79 | 2.52 | n.a |
Sales/Net Worth | 2.36 | 4.15 | 3.55 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
Corporations | 0% | $0 | $0 | $7,645 | $8,212 | $8,455 | $8,747 | $9,212 | $9,454 | $9,987 | $10,112 | $10,414 | $10,654 |
Government Agencies | 0% | $0 | $0 | $8,774 | $9,454 | $9,746 | $10,096 | $10,654 | $10,945 | $11,584 | $11,734 | $12,097 | $12,385 |
Other | 0% | $0 | $0 | $5,048 | $5,354 | $5,486 | $5,643 | $5,894 | $6,025 | $6,313 | $6,380 | $6,544 | $6,673 |
Total Sales | $0 | $0 | $21,467 | $23,021 | $23,687 | $24,487 | $25,761 | $26,424 | $27,884 | $28,227 | $29,054 | $29,712 | |
Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Corporations | $0 | $0 | $3,669 | $4,038 | $4,196 | $4,386 | $4,688 | $4,845 | $5,192 | $5,273 | $5,469 | $5,625 | |
Government Agencies | $0 | $0 | $4,403 | $4,845 | $5,035 | $5,263 | $5,625 | $5,814 | $6,230 | $6,327 | $6,563 | $6,750 | |
Other | $0 | $0 | $1,981 | $2,180 | $2,266 | $2,368 | $2,531 | $2,616 | $2,803 | $2,847 | $2,953 | $3,038 | |
Subtotal Direct Cost of Sales | $0 | $0 | $10,054 | $11,064 | $11,496 | $12,016 | $12,845 | $13,276 | $14,225 | $14,447 | $14,985 | $15,413 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Stan | 0% | $0 | $0 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Willma | 0% | $0 | $0 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Sales | 0% | $0 | $0 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 |
Sales | 0% | $0 | $0 | $0 | $0 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 |
Sales | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 |
Accounting | 0% | $0 | $0 | $0 | $0 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 |
Shipping | 0% | $0 | $0 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 |
Shipping | 0% | $0 | $0 | $0 | $0 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 |
Shipping | 0% | $0 | $0 | $0 | $0 | $0 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
Admin/customer support | 0% | $0 | $0 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
Admin/customer support | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $800 | $800 | $800 | $800 | $800 | $800 |
Total People | 0 | 0 | 5 | 5 | 8 | 9 | 11 | 11 | 11 | 11 | 11 | 11 | |
Total Payroll | $0 | $0 | $8,000 | $8,000 | $11,800 | $12,800 | $15,100 | $15,100 | $15,100 | $15,100 | $15,100 | $15,100 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | |
Long-term Interest Rate | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | |
Tax Rate | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $0 | $0 | $21,467 | $23,021 | $23,687 | $24,487 | $25,761 | $26,424 | $27,884 | $28,227 | $29,054 | $29,712 | |
Direct Cost of Sales | $0 | $0 | $10,054 | $11,064 | $11,496 | $12,016 | $12,845 | $13,276 | $14,225 | $14,447 | $14,985 | $15,413 | |
Other Costs of Goods | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $0 | $0 | $10,054 | $11,064 | $11,496 | $12,016 | $12,845 | $13,276 | $14,225 | $14,447 | $14,985 | $15,413 | |
Gross Margin | $0 | $0 | $11,414 | $11,957 | $12,190 | $12,470 | $12,916 | $13,148 | $13,660 | $13,779 | $14,069 | $14,299 | |
Gross Margin % | 0.00% | 0.00% | 53.17% | 51.94% | 51.46% | 50.93% | 50.14% | 49.76% | 48.99% | 48.82% | 48.42% | 48.13% | |
Expenses | |||||||||||||
Payroll | $0 | $0 | $8,000 | $8,000 | $11,800 | $12,800 | $15,100 | $15,100 | $15,100 | $15,100 | $15,100 | $15,100 | |
Sales and Marketing and Other Expenses | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Depreciation | $725 | $725 | $725 | $725 | $725 | $725 | $725 | $725 | $725 | $725 | $725 | $725 | |
Rent | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
Utilities | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
Insurance | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Payroll Taxes | 15% | $0 | $0 | $1,200 | $1,200 | $1,770 | $1,920 | $2,265 | $2,265 | $2,265 | $2,265 | $2,265 | $2,265 |
Website Maintenance | $0 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
Total Operating Expenses | $2,625 | $3,125 | $12,325 | $12,325 | $16,695 | $17,845 | $20,490 | $20,490 | $20,490 | $20,490 | $20,490 | $20,490 | |
Profit Before Interest and Taxes | ($2,625) | ($3,125) | ($911) | ($368) | ($4,505) | ($5,375) | ($7,574) | ($7,342) | ($6,830) | ($6,711) | ($6,421) | ($6,191) | |
EBITDA | ($1,900) | ($2,400) | ($186) | $357 | ($3,780) | ($4,650) | ($6,849) | ($6,617) | ($6,105) | ($5,986) | ($5,696) | ($5,466) | |
Interest Expense | $332 | $330 | $328 | $326 | $324 | $322 | $320 | $318 | $316 | $315 | $313 | $311 | |
Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Net Profit | ($2,957) | ($3,455) | ($1,239) | ($694) | ($4,829) | ($5,697) | ($7,894) | ($7,660) | ($7,147) | ($7,025) | ($6,734) | ($6,501) | |
Net Profit/Sales | 0.00% | 0.00% | -5.77% | -3.01% | -20.39% | -23.26% | -30.64% | -28.99% | -25.63% | -24.89% | -23.18% | -21.88% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $0 | $0 | $5,367 | $5,755 | $5,922 | $6,122 | $6,440 | $6,606 | $6,971 | $7,057 | $7,264 | $7,428 | |
Cash from Receivables | $0 | $0 | $0 | $537 | $16,139 | $17,282 | $17,785 | $18,397 | $19,337 | $19,854 | $20,922 | $21,191 | |
Subtotal Cash from Operations | $0 | $0 | $5,367 | $6,292 | $22,061 | $23,404 | $24,225 | $25,003 | $26,308 | $26,911 | $28,185 | $28,619 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $0 | $0 | $5,367 | $6,292 | $22,061 | $23,404 | $24,225 | $25,003 | $26,308 | $26,911 | $28,185 | $28,619 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $0 | $0 | $8,000 | $8,000 | $11,800 | $12,800 | $15,100 | $15,100 | $15,100 | $15,100 | $15,100 | $15,100 | |
Bill Payments | $74 | $2,248 | $2,770 | $3,928 | $3,945 | $4,854 | $15,401 | $18,659 | $18,739 | $20,139 | $19,678 | $20,511 | |
Subtotal Spent on Operations | $74 | $2,248 | $10,770 | $11,928 | $15,745 | $17,654 | $30,501 | $33,759 | $33,839 | $35,239 | $34,778 | $35,611 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $273 | $275 | $277 | $279 | $281 | $283 | $284 | $286 | $288 | $290 | $292 | $294 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $348 | $2,523 | $11,047 | $12,207 | $16,026 | $17,936 | $30,785 | $34,045 | $34,127 | $35,529 | $35,070 | $35,905 | |
Net Cash Flow | ($348) | ($2,523) | ($5,680) | ($5,915) | $6,035 | $5,468 | ($6,560) | ($9,043) | ($7,819) | ($8,618) | ($6,885) | ($7,286) | |
Cash Balance | $128,352 | $125,829 | $120,149 | $114,235 | $120,270 | $125,738 | $119,177 | $110,135 | $102,316 | $93,698 | $86,814 | $79,527 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $128,700 | $128,352 | $125,829 | $120,149 | $114,235 | $120,270 | $125,738 | $119,177 | $110,135 | $102,316 | $93,698 | $86,814 | $79,527 |
Other Current Assets | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 |
Total Current Assets | $178,200 | $177,852 | $175,329 | $175,696 | $175,447 | $171,612 | $176,792 | $172,596 | $165,405 | $160,112 | $153,032 | $147,554 | $141,788 |
Long-term Assets | |||||||||||||
Long-term Assets | $43,500 | $43,500 | $43,500 | $43,500 | $43,500 | $43,500 | $43,500 | $43,500 | $43,500 | $43,500 | $43,500 | $43,500 | $43,500 |
Accumulated Depreciation | $0 | $725 | $1,450 | $2,175 | $2,900 | $3,625 | $4,350 | $5,075 | $5,800 | $6,525 | $7,250 | $7,975 | $8,700 |
Total Long-term Assets | $43,500 | $42,775 | $42,050 | $41,325 | $40,600 | $39,875 | $39,150 | $38,425 | $37,700 | $36,975 | $36,250 | $35,525 | $34,800 |
Total Assets | $221,700 | $220,627 | $217,379 | $217,021 | $216,047 | $211,487 | $215,942 | $211,021 | $203,105 | $197,087 | $189,282 | $183,079 | $176,588 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $2,157 | $2,639 | $3,797 | $3,795 | $4,344 | $14,779 | $18,036 | $18,067 | $19,484 | $18,995 | $19,817 | $20,122 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $2,157 | $2,639 | $3,797 | $3,795 | $4,344 | $14,779 | $18,036 | $18,067 | $19,484 | $18,995 | $19,817 | $20,122 |
Long-term Liabilities | $50,000 | $49,727 | $49,452 | $49,175 | $48,896 | $48,615 | $48,333 | $48,048 | $47,762 | $47,474 | $47,183 | $46,891 | $46,597 |
Total Liabilities | $50,000 | $51,884 | $52,090 | $52,972 | $52,691 | $52,959 | $63,112 | $66,084 | $65,829 | $66,957 | $66,178 | $66,709 | $66,719 |
Paid-in Capital | $213,000 | $213,000 | $213,000 | $213,000 | $213,000 | $213,000 | $213,000 | $213,000 | $213,000 | $213,000 | $213,000 | $213,000 | $213,000 |
Retained Earnings | ($41,300) | ($41,300) | ($41,300) | ($41,300) | ($41,300) | ($41,300) | ($41,300) | ($41,300) | ($41,300) | ($41,300) | ($41,300) | ($41,300) | ($41,300) |
Earnings | $0 | ($2,957) | ($6,411) | ($7,650) | ($8,344) | ($13,173) | ($18,870) | ($26,764) | ($34,424) | ($41,571) | ($48,596) | ($55,329) | ($61,831) |
Total Capital | $171,700 | $168,743 | $165,289 | $164,050 | $163,356 | $158,527 | $152,830 | $144,936 | $137,276 | $130,129 | $123,104 | $116,371 | $109,869 |
Total Liabilities and Capital | $221,700 | $220,627 | $217,379 | $217,021 | $216,047 | $211,487 | $215,942 | $211,021 | $203,105 | $197,087 | $189,282 | $183,079 | $176,588 |
Net Worth | $171,700 | $168,743 | $165,289 | $164,050 | $163,356 | $158,527 | $152,830 | $144,936 | $137,276 | $130,129 | $123,104 | $116,371 | $109,869 |
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Written by Dave Lavinsky
Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their schools.
If you’re unfamiliar with creating a school business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.
In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a school business plan step-by-step so you can create your plan today.
Download our Ultimate Business Plan Template here >
A business plan provides a snapshot of your school as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.
If you’re looking to start a school or grow your existing school, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your school to improve your chances of success. Your school business plan is a living document that should be updated annually as your company grows and changes.
With regards to funding, the main sources of funding for schools are donations and gifts, tuition, personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for schools.
How to write a business plan for a school.
If you want to start a school or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your school business plan.
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your executive summary is to quickly engage the reader. Explain to them the kind of school you are running and the status. For example, are you a startup, do you have a school that you would like to grow, or are you operating a chain of schools?
Next, provide an overview of each of the subsequent sections of your plan.
In your company overview, you will detail the type of school you are operating.
For example, you might specialize in one of the following types of schools:
In addition to explaining the type of school you will operate, the company overview needs to provide background on the business.
Include answers to questions such as:
In your industry or market analysis, you need to provide an overview of the school industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the school industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.
The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your school business plan:
The customer analysis section of your school business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: families with elementary-aged children, families with high-school-aged children, families with preschool children.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of school you operate. Clearly, families with high schoolers would respond to different marketing promotions than families with preschoolers, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.
Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.
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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other schools.
Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes public schools, virtual schools, and families who do homeschooling. You need to mention such competition as well.
For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a school business plan, your marketing strategy should include the following:
Product : In the product section, you should reiterate the type of school that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide religious-focused K-8 education, college preparatory courses, or single-subject instruction like driving or fine arts?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the courses and/or extracurricular activities you offer and their prices.
Place : Place refers to the site of your school. Document where your company is situated and mention how the site will impact your success. For example, is your school located in a growing neighborhood, in the city center, or will you operate purely online? Discuss how your site might be the ideal location for your customers.
Promotions : The final part of your school marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your school, including answering calls, planning and delivering instruction, applying for grants, fundraising, performing administrative tasks, overseeing instructors, handling discipline, scheduling and monitoring extracurricular activities, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to enroll your Xth student, or when you hope to reach $X in revenue. It could also be when you expect to expand your school to a new city.
To demonstrate your school’s potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally, you and/or your team members have direct experience in managing schools. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in running a school or experience with public school administration or who has served on a public school board.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.
An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you enroll 100 or 1,000 students per semester, and/or offer extracurricular activities? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your school, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a school:
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your school location lease or a list of elective courses or extracurricular activities you will offer.
Writing a business plan for your school is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the school industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful school.
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Starting a school store is about more than just selling merch and school supplies. A school store is a unique opportunity to teach students a variety of useful life skills, like entrepreneurship, financial management, customer service, time management, team building, and more. School stores can also bring in much needed revenues for cash-strapped schools that need basic supplies or want to add more enrichment activities for students. At GEDDES , we’ve been helping schools stay well stocked since 1924, so we have some pretty extensive experience with successful school stores. In this post, we’ll give our top tips for starting a student-run school supply store.
One of the best ways to start a school store is to build it into the curriculum of a relevant class. This is easiest at the high school level, where classes related to business, accounting, and entrepreneurship can easily incorporate the school store as a long-term lesson. High school administrators may even decide to create an elective course just for students who want to help with the school store. However, even in middle and elementary school, math teachers can use a school store to reinforce math concepts and introduce new ones. By linking the school store to an existing class, there will always be a teacher and students to operate the store and it won’t need to be re-planned each year.
While the school store will need an adult to keep an eye on everything, have the final word on disagreements, and make sure the store is operating smoothly, it’s still extremely important to involve students in every step of the school store planning and operations. When students are involved from step 1, they feel a stronger connection to the outcome and are more motivated to help.
The first step in starting a student-run school store is to get approval from the school’s administration. They’ll have to sign off on things like an initial budget, location, and operating hours, so getting their official buy-in in the beginning is important. Have the students involved in the store’s planning to draw up a business plan for the store. This is a great way to teach students in a business-related class about how business plans work and how to format one. Once the plan is ready, schedule a formal meeting with school administrators and let students present the business plan.
Now that administration has approved your store, you’ll need to create brand kit materials using the school logo to use for merch and promotional materials. This is a perfect opportunity to have a school-wide art contest, allowing students to enter their ideas for promotional materials and advertisements and then vote for the best ones. Once students have chosen the most popular ad designs, have students from a graphic design or computer class add the school logo to merchandise, brand kit materials, and promotional materials, then coordinate printing.
In the past, all school store financial transactions were kept up with a paper ledger, requiring students to write down each and every transaction by hand. While some schools may still use this method, most are now transitioning to financial management software. Intuit offers free financial literacy programs for high school students that include free access to some of their programs, including Quickbooks and MailChimp. Get students in accounting-related classes to set up Quickbooks for the school store and handle the account reconciliation each month. Students in marketing-related classes can help setup programs like MailChimp to promote the store to students, staff, parents, administrators, and other interested parties. These hands-on projects are much more likely to stick with the students over textbook reading assignments and lectures.
The store will need to be staffed during its operating hours, and preferably that staff will always include at least one student. Some high school students may be able to run the store independently, while lower-level students will probably need an adult’s assistance, especially with handling payments. This is a great time to have students create resumes and really apply for the different store positions. Post a job application for the needed staff on the school website, in the school newsletter, using flyers posted around the school, or any other way that will reach students. Once the application period closes, conduct real interviews with the student applicants. This real-world experience will be invaluable when they embark out on their own and start applying for jobs as an adult.
This is another step where student input is critical. Merchandise in the typical school store includes clothing with the school’s logo, school supplies , art supplies , novelty items , drinks, and snacks. Students will have the best insight on what their peers will want to buy, and allowing them to choose the merchandise that will be offered while keeping the budget in mind is great practice for both their personal lives and upcoming careers. Once they’ve chosen what they want to offer in the store, let them help with the ordering process, including monitoring the shipments and checking that everything was included in the deliveries. Once the school store merchandise has all arrived, have students price the items based on a set formula using the item’s cost and create a spreadsheet with the item pricing information.
Now that all the prep work has been laid, it’s time to let everyone know that the store will soon be open. Use the promotional materials that the students voted on during the art contest to advertise the new school store with flyers, emails, social media posts, posts on the school website, letters mailed to student homes and local businesses, and more. This is another step where graphic design and computer students can really help out. Don’t forget to take advantage of Intuit’s free access to MailChimp if you signed up for their free financial literacy courses.
Make opening day a big deal with special deals and lots of fanfare to drum up enthusiasm for the new store. Give away school-branded clothing to spread school spirit, have drawings for door prizes, or even do a raffle for a larger store item. Make sure the store’s operating hours are clearly posted so students and staff will know when they can visit, and solicit student feedback on the new store and merchandise.
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Explore Options to Get a Business Plan.
The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.
The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at [email protected] . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.
To complete your perfect School Supply Store business plan, fill out the form below and download our School Supply Store business plan template. The template is a word document that can be edited to include information about your School Supply Store business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.
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What is a business plan for a/an school supply store business, how to customize the business plan template for a school supply store business, what financial information should be included in a school supply store business plan, are there industry-specific considerations in the school supply store business plan template, how to conduct market research for a school supply store business plan, what are the common challenges when creating a business plan for a school supply store business, how often should i update my school supply store business plan, can i use the business plan template for seeking funding for a school supply store business, what legal considerations are there in a school supply store business plan.
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A Sample School Supplies Business Plan Template 1. Industry Overview. Businesses in the School Supplies Wholesaling industry are involved in the sale and distribution of office tools, writing implements, stamps and stencils, stationery and loose-leaf paper, notebooks, binders and organizers and other related items.
STEP 2: Form a legal entity. The most common business structure types are the sole proprietorship, partnership, limited liability company (LLC), and corporation. Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your school supply store is sued.
If you're interested in starting a school and office supplies store, we listed 6 tips that could help you. 1. Business Plan. You might be excited to start this business that you're already full of ideas. To get those ideas working, you need to have a well-research business plan. This will put together all your thoughts, ideas, plans ...
The cost for Shop remodeling (construction of racks and shelves) - $20,000. Other start-up expenses including stationery ( $500) and phone and utility deposits - ( $2,500) Operational cost for the first 3 months (salaries of employees, payments of bills et al) - $60,000. The cost for startup inventory - $70,000.
Creating a Business Plan for a School Supplies Retailer. A common mistake for an entrepreneur is to not create a business plan. The key benefit of writing a business plan is that it establishes both a framework and a roadmap for your business. If you don't have a business plan, your leadership will be handicapped, choosing short-term ...
Step 3: Obtain Licenses and Permits. The third step in starting a school supply store is to obtain all necessary licenses and permits. It is important to research the types of licenses and permits that are required for a business of this type. Depending on the location, the business may need to obtain a business license, a seller's permit, a ...
A business plan for a school supplies business should include the following key sections: Executive Summary: A concise overview of your business plan, highlighting the main points. Company Description: An overview of your company, including its mission, vision, and legal structure. Market Analysis: A detailed analysis of the school supplies ...
Explore a real-world office supplies retail business plan example and download a free template with this information to start writing your own business plan. ... This is a catch all segment that contains a wide range of entities such as small companies, individuals, school districts, etc. Market Analysis: Year 1: Year 2: Year 3: Year 4: Year 5 ...
STEP 2: Form a legal entity. The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC), and corporation. Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your school supply store is issued.
Marketing Plan. Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a school business plan, your marketing strategy should include the following: Product: In the product section, you should reiterate the type of school that you documented in your company overview.
The first step in starting a student-run school store is to get approval from the school's administration. They'll have to sign off on things like an initial budget, location, and operating hours, so getting their official buy-in in the beginning is important. Have the students involved in the store's planning to draw up a business plan ...
A business plan for a School Supply Store business is a written document that outlines the goals, strategies, and financial projections for starting and operating a school supply store. It provides a roadmap for entrepreneurs to follow, helping them define their business concept, target market, competitive advantage, and marketing strategies.
In 2020, the average back-to-school spending hovered around $727.However, it was a drop from $919 recorded in 2019, caused by the pandemic. Despite the decrease, that shouldn't discourage you from starting a school supply business if you want to. The most important thing is to gather as much information as possible to get the supply store running.
Step 1 - Get a Business Plan. If you have no idea how a school supplies business operates or you are a first time online business owner, I recommend downloading a business plan from BPlans.com. Their plans outline exactly how the business is supposed to work and what you should expect. If you are excited about starting, you can buy The $5 ...
Business plan template. Link in bio tool. QR code generator. What's new. Changelog. Your source for recent updates. Summer '24 Edition. ... Start your school supply business with Shopify today. Try Shopify free for 3 days, and explore all the tools and services you need to start, run, and grow your business.
Create a business plan. Calculate start up cost. Back in the day teachers and students were supplied all the items they required for a quality education, however, those days are well behind us and now teachers and students spend a lot of their own money on workbooks, antibacterial wipes, scissors, pencils, markers, construction paper, lined ...
office and school supply store will provide a much needed guidance to this very ... business How to Start and Manage a School and Office Supplies Store Reserve now! Call us at: Tel. (02) 8.727.56.28 / (02) 8.727.88.60 Mobile Numbers: Globe: 0915-205-0133 / Smart: 0908-342-3162
A BUSINESS PLAN OF SCHOOL SUPPLIES INTERPRISE JICK LLOYED MELLORIA. Submitted in the fulfilment of the Requirements in Economic Planning and Strategies in Social. Studies. Bukidnon State University. College of Education. Bachelors in Secondary Education. Malaybalay City. August 7, 2017. Chapter 1.
How to Set Up a School and Office Supplies Store A school and office supplies store is almost as stable as the food business, because students and offices will continue to consume needed supplies even if there is a recession. Even better is that the products sold are non-perishable. Below are some of the important things to note if you plan to ...
School Materials (books, toys, desks, chairs, etc): $180,000. Administrative Expenses: $120,000 to pay for lease costs, ongoing operational expenses, and marketing. Working capital: $100,000. The following graph below outlines the pro forma financial projections for Southside Academy.
Families - already grappling with tight budgets - are navigating back to school shopping in a whole new way. With the cost of school supplies increasing, up 24.5% over the past four years ...
A recent survey by JLL found parents plan to spend 21.8% more on back-to-school shopping this year, a good sign for retailers in a tepid year for discretionary sales. ... school supplies, art supplies, school instructional materials and clothing. All retailers are required to participate and may not charge tax on items that are legally tax ...
529 plans are state-run, tax-advantaged accounts earmarked for educational expenses. 529 plan account earnings and withdrawals are tax-free; some states also allow deductions on contributions.
These high school supplies are designed for multi-tasking teenagers. ... In 2024, 68% of back-to-school shoppers plan around retail sale events like July 4 and Labor Day. Shop office supply stores. Office retailers like Office Depot and Staples stock many of the same products for significantly lower prices than department stores. You can find ...
HubSpot's CRM platform contains the marketing, sales, service, operations, and website-building software you need to grow your business.
Aviation leaders will meet at a marque summit outside London on Monday as the industry struggles with supply chain disruptions, aircraft delays and floundering plans to reduce carbon emissions.
US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Track elected officials, research health conditions, and find news you can use in politics ...
Call is joining USC from the W. P. Carey School of Business at Arizona State University. Since becoming director of the school of accountancy in 2018, Call recruited and retained more top research and teaching professors than ever in the school's history, greatly increasing the faculty's racial and gender diversity.
FLORIDA — Families will have the opportunity to stock up on various school supplies tax free as the 2024 Back-to-School Sales Tax Holiday takes place from July 29 to Aug. 11. During the holiday ...
Business plan template. Link in bio tool. QR code generator. What's new. Changelog. Your source for recent updates. Newsroom. All company news and press releases. ... Start your school supply business with Shopify today. Try Shopify free for 3 days, and explore all the tools and services you need to start, run, and grow your business.