Strategic Analysis with current research! The Music Shop, Inc. The Company was founded by John Doe. The Music Shop will carry a diverse inventory of guitars, violins, cellos, pianos, violas, drums, and other musical instruments. The Company will advertise both to the general public while concurrently developing relationships with local schools to supply instruments for orchestra and band classes.
The secondary revenue center for the business will come from the sale of music lessons that will be rendered onsite by both trained customer service employees and independent contractors that will come to the Music Shop to render these services to customers.
This is an extremely important revenue center for the business as the contribution margins generated from providing these services is extremely high. The free music business plan software section of the business plan will further describe the services offered by the Music Shop.
The interest rate and loan agreement are to be further discussed during negotiation. Doe has more than 10 years of experience in the retail management industry. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.
Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years. Doe intends to implement marketing campaigns that will effectively target individuals and schools with instrument buying needs within the target market.
The Company is registered as a corporation in the State of New York. Below is a breakdown of how these funds will be used: Doe is not seeking an investment from a third party at this time.
Doe may seek to sell the business to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Music Shop. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings.
Doe anticipates that for each dollar of revenue generated through the sale of musical instruments, the business will earn 60 cents of operating income. The business will use both in-house staff that are properly trained to provide lessons as well as third party independent contractors that will come to the Music Shop to render these services on behalf of the Company.
Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid, at which point the economy will begin a prolonged recovery period.
This trend is expected to continue in the foreseeable future. In this section of the analysis, you should describe the type of customer you are seeking to acquire.
In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.
The key to writing a strong competitive analysis is that you do your research on the local competition.
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Find out who your competitors are by searching online directories and searching in your local Yellow Pages. Below is an overview of the marketing strategies and objectives of the Company. Doe intends on using a number of marketing strategies that will allow the Music Shop to easily target individuals and families with children within the target market.
These strategies include traditional print advertisements and ads placed on search engines on the Internet.Business plan template software lets you automatically write a business plan online.
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