Embroidery Business Plan Template | Free Business Plan Software

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Here's the Business Plan Template's Table of Contents:

1.0 Executive Summary
1.1 Objectives
1.2 Mission
1.3 Keys to Success
2.0 Company Summary
2.1 Company Ownership
2.2 Start-up Summary
Table: Start-up
3.0 Products and Services
4.0 Market Analysis Summary
4.1 Market Segmentation
Table: Market Analysis
4.2 Target Market Segment Strategy
4.3 Service Business Analysis
4.3.1 Competition and Buying Patterns
5.0 Strategy and Implementation Summary
5.1 Competitive Edge
5.2 Marketing Strategy
5.3 Sales Strategy
5.3.1 Sales Forecast
Table: Sales Forecast
5.4 Milestones
Table: Milestones
6.0 Management Summary
6.1 Personnel Plan
Table: Personnel
7.0 Financial Plan
7.0 Financial Plan
7.1 Start-up Funding
Table: Start-up Funding
7.2 Important Assumptions
7.3 Break-even Analysis
Table: Break-even Analysis
7.4 Projected Profit and Loss
Table: Profit and Loss
7.5 Projected Cash Flow
Table: Cash Flow
7.6 Projected Balance Sheet
Table: Balance Sheet
7.7 Business Ratios
7.7 Business Ratios
Table: Ratios

Other Business Plan Outlines and samples that may interest you:

Agriculture Assisted living Auto repair Bakery Bar Beauty salon Bed and breakfast Bookkeeping Boutique Bowling alley Carpet cleaning Car wash Catering Cattle farming Charity Cleaning Coffee shop Computer repair Construction Consulting Convenience-store Cupcake Daycare Dental Dog daycare Ecommerce Electrical Embroidery Engineering Farm Fashion Fast food Film Financial advisor Fitness center Flower-shop Food Food truck Franchise Frozen yogurt Furniture store Gas station Goat farming Grocery store Gym Hairdressing Hair salon Ice cream Insurance agency Interior design Internet Internet cafe IT Jewelry Landscaping Laundromat Laundry Law firm Magazine Manufacturing Microbrewery Motel-hotel Music Nightclub Nonprofit Nursery Online-retail Photography Pizza Plumbing Poultry farming Preschool Printing Private investigator Pub Real-estate Resort Restaurant Retail School Security company Service Software Spa Sports-bar Startup Supermarket Travel agency Trucking Vegetable-farming Website

Embroidery Business Plan Template Market Analysis Summary Sample

The store is located in a growing tri-county area located in central Minnesota along the Wisconsin border that has grown in population since the 2000 census by 15.9% to an estimated 2009 total population of 614,165.
Since COMPANY NAME has the ability to handle very large production runs and to recreate and design logos, the store will focus on the area's 14,717 private business establishments as its primary market.  Their customized apparel is very attractive to business owners who are attempting to "brand" their businesses by making their business and their employees more recognizable and first in the minds of their patrons through uniforms and coordinated logo apparel.  Branding should have an ever growing importance with business owners since the ongoing economic downturn has taught them that they must develop a competitive edge to survive difficult times and to make the most of good times.  
In addition, another major market segment for the store is teams, groups, and organizations.  With a more robust economy, the participation level in this market segment should increase as families, schools, and athletic organizations have more discretionary income to spend on extracurricular activities such as youth hockey, football, basketball, baseball, and soccer.  Unfortunately, very little data is available to produce a demographic on this market segment.  Nevertheless, it is without question a market to which the ownership must pay close attention.
Since the store also has the ability to handle single garment production runs and create its own graphics from an image or an idea, a marketing segment to explore for future development may be the nearly 160,000 young people in the tri-county area (U.S. Census data indicates 26.0% of the tri-county population of 614,165 is under 19 years of age).  This population segment seeks individuality and desires making a statement, so this could be very attractive to them as an art form in creating and designing the statements they wear on their garments.  
For purposes of this analysis, we will focus on the business market segment since there is insufficient data available at this time to demographic the team/group/organization segment or to foresee whether the younger market segment is a feasible option for future success.

4.1 Market Segmentation

Our market segmentation scheme is fairly straightforward, and focuses on the business establishments in the tri-county area of Washington, Anoka, and Chisago counties.  The information contained in our analysis table is taken directly from the U.S. Census Data website and government directory of business establishments in those three Minnesota counties in 2008.  
Their data clearly shows that the largest market group of businesses is defined as home-based, farming related, and not privately owned.  While this group is the largest in number, its makeup is primarily businesses that have very few customer service oriented employees that perform their duties face-to-face with their customers.  With our marketing emphasis to dramatically increase sales, our primary target must be businesses that employ a greater number of employees that fit the previous description.  Those establishments are privately owned businesses that number 14,717 of the 47,640 total.  Of the 14,717 primary targeted businesses, 29.4% are female owned and 70.6% are male owned.  Privately owned businesses tend to be larger in size, employ more face-to-face customer service staff, and achieve a greater benefit from name recognition and becoming first in their customers mind as they "brand" their business through employee uniforms and coordinated logo apparel.
Although this market segment is the smallest in numbers, it has the potential to provide a significant share of our revenues and growth. We will accomplish this by communicating our value-added offerings to their owners, demonstrating our ability to meet deadlines and keep promises, develop long-term relationships within this segment, and earn their business.
Another significant segment that demands our focus is teams, groups, and organizations that also have a need for uniforms and the services we provide.  However, since there is little (if any) statistical data available to form a demographic on this market segment, for purposes of this analysis we will concentrate solely on area businesses.  Therefore, the business establishment market will be segmented into three groups:

• Women owned private businesses
• Male owned private businesses
• All other establishments - businesses that are either home-based, farming related, or not privately owned 

Since COMPANY NAME is a woman owned private business, it may prove to be beneficial to designate this as the primary target market segment because of the store's inclusion and similarity.  Male owned private businesses would be the secondary target market because of the store's similarity.  All other establishments would be the tertiary target market segment.
For this analysis, it is assumed that private businesses will grow in future years by 1% annually and that all other establishments (which include the quick growing home-based business segment) will grow at a 3% annual rate.

Table: Market Analysis

MARKET ANALYSIS
		2010	2011	2012	2013	2014
Potential Customers	Growth						CAGR
Women Owned Private Businesses	1%	4,327	4,370	4,414	4,458	4,503	1.00%
Male Owned Private Businesses	1%	10,390	10,494	10,599	10,705	10,812	1.00%
Farm, Non-Private, Home-Based Businesses	3%	32,923	33,911	34,928	35,976	37,055	3.00%
Total	2.39%	47,640	48,775	49,941	51,139	52,370	2.39%

4.2 Target Market Segment Strategy

Marketing should be very focused and directed at business owners and team leaders rather than the general public.  COMPANY NAME has chosen two focus groups because their demographics have the highest likelihood of purchasing uniforms and custom apparel and they share the goal of forming cohesiveness amongst their team members through a uniform or logo apparel.
Even though the largest category of business establishments are those that are primarily home-based, farm related, and non-privately owned, this market segment is the least likely to produce dramatic sales growth since they have very few employees.  Some sales will result from this segment; however the store should limit the resources devoted to sales development in this segment.  
Instead, COMPANY NAME must target larger businesses that have customer service employees, which are looking to brand their business, or have already branded their business and are open to switching to a new provider.  Thus, the primary focus is on privately owned business establishments, whether they are owned by women or men.  The best possible marketing approach to this segment would be to identify each business individually and concentrate initial marketing efforts on those businesses with the most employees performing face-to-face customer service functions.  The preferable method of contact, although the most time consuming, would be for the owner or a commissioned COMPANY NAME sales representative to directly and personally contact each business owner at their business location.  To further target the privately owned business segment, active membership in the local Chamber of Commerce and other local business organizations should be considered to develop contacts and networking opportunities.  Still other methods, such as a telephone campaign, would be less effective but would still create some degree of positive results.
These same activities would also be effective with team leaders in sports organizations.  Identification of the organization or league and its leader or official may be more difficult and time consuming, but the rewards could be well worth the effort.  A good starting point might be the local media with focus on league organizational announcements and advertisements for teams to join a league.  Another would be to get to know the principals at local ice rinks, bowling establishments, golf courses, and parks and recreation departments.  Once the organizations and leaders can be identified, attendance at pre-league organizational meetings to network or to simply distribute catalogs or flyers may be beneficial.
One strategy that may develop additional future sales to all three segments is an enhanced, more robust website.  It could reach every business in every segment and help the store compete on more even terms with non-local internet embroidery and silk-screening establishments - their main competition.

4.3 Service Business Analysis

In industries such as retail embroidery and silk-screening where the product purchased by the consumer is very similar to products offered by the competition, businesses have long recognized the importance of excellent product quality, quick turnaround, impeccable customer service, convenient store hours, the latest technological advancements, and finding economic tools to win and maintain customers.  While there are technological advancements available to the embroidery and silk-screening industry that would also provide lower production costs (for example, a state-of-the-art ink embedding process called sublimation), this technology comes with a large price tag and the possibility of quick obsolescence as the industry continues to revolutionize. 
Rather than adding all new equipment, COMPANY NAME chooses to maintain its market share by continuing its tradition of excellent product quality, quick turnaround, and impeccable customer service.  At the same time, store owners intend to expand their market share through a more aggressive marketing plan that will increasingly highlight their customer service, product quality, and attention to detail while also emphasizing the advantages of dealing with a local business.  This approach makes sense for numerous reasons:

• Their existing customer base comments regularly on the store's superior quality and customer service
• The store has no immediate local competitors as its nearest competitor is physically located about 30-minutes away
• Their main competition comes from internet companies that will be able to compete only from a price standpoint once the proposed face-to-face sales initiative is underway

In addition, with the hiring of additional inside staff, the business plans to extend its evening and weekend retail hours to make shopping at COMPANY NAME more convenient for its regular customers and to attract new customers.   

4.3.1 Competition and Buying Patterns

While COMPANY NAME has no local competition, the store must compete with internet retailers who offer similar garments at slightly lower prices.  Target market segments think about price because that is what is traditionally presented to them first.  However, our research and experience indicates business owners and decision makers would buy based on superior quality and product wear, excellent customer service, and local business location.  This should be especially true since the reason for their purchase is to positively enhance their business image through "branding".
With their desire for garment customization to project a positive and lasting image with their business patrons, the store appears to have a competitive advantage if they can effectively communicate the value of the differences between internet retailers and COMPANY NAME to potential buyers.  Their reputation for high quality service and products, product availability, and turnaround time are all very important purchasing requirements for business owners as they tend to want immediate, local solutions to their needs.  Communication of the added value in purchasing from a reputable, local establishment is imperative to sales growth in the business market segment.
As efforts are made to communicate the story of COMPANY NAME to area business owners, store management should make an effort to determine whether a more robust website with shopping cart capabilities would be cost effective.  Even though the benefits of dealing locally with a reputable company like COMPANY NAME makes sense, the convenience and time savings of internet shopping for business owners may be too alluring.  If the store combined its local presence and excellent reputation with a state-of-the-art website, they may prove to be both unbeatable locally and a force outside their area.