How to Make a Business Plan for Scrapbooking
The best way to ensure success in your scrapbooking business is to write a business plan. Even if you aren't going to apply for business loans or find investors, you need to write a business plan. The business plan will help you focus your business efforts on the activities that make money and is your road map to success. It includes everything about your scrapbook business from how you run things, your target market and your financial information.
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Instructions
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Write the executive summary to provide an overview of your scrapbooking business, including your mission statement, the tools and resources used in creating your scrapbook products or running the business and your goals, such as sales numbers or scrapbooking classes booked.
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Complete the market analysis section of the plan by describing the people who would buy scrapbook services or materials from you. Include information about age, gender, interests and other details that define the scrapbook market. Outline your marketing methods to reach this group, such as offering scrapbook demonstrations.
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Review your competition. Give information about other scrapbook businesses and explain how your business is different and similar. For example, do you offer free classes or specialize in a niche market (i.e. wedding scrapbooks)? Describe how your business sets itself apart from the others.
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Provide information about the management team, even if it's a one-person business. Indicate the people who take care of day-to-day management, marketing, accounting and any other tasks and describe their skills and experience.
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Outline the operations of the business. Provide information on tasks and activities that need to be done each day to run the business, including marketing, order taking, shipping and seminar or class bookings.
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Provide the financial details, including expenses and projected earnings over the next year. Create a financial statement providing information on assets (e.g. inventory, computers, etc) and liabilities (e.g. loans).
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Create an appendix for additional information. Details or resources that don't fit into other sections should be added in the appendix. This can include permits and licenses, a copy of your scrapbook catalog or website and intellectual property rights (e.g. trademarks).
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Pull all the sections together into a business plan document. If your business plan will be presented to bankers or investors, use quality paper and folders for a professional report.
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Tips & Warnings
If the plan is simply an outline of your business, put it in a binder and keep it close so you and your partners can access it for reference when making decisions about the scrapbooking business.
References
- Photo Credit business image by peter Hires Images from Fotolia.com
