BUSINESS PLAN FOR FURNITURE MAKING i A FACTORY MADE DINING SET ii BUSINESS PLAN CONTENTS 1. EXECUTIVE SUMMARY 1.1 Brief summary of the business 1.2 Profitability of the business 2. STATEMENT OF PURPOSE 2.1 Goals of starting this business 2.2 How will the business help the owner achieve his goals 3. BUSINESS DESCRIPTION 3.1 Location 3.2 Business ownership 3.3 The industry 3.4 Short term and long term goals 3.5 Entry and growth strategies 3.6 Start-up capital 3.7 Funding 4. PRODUCTS AND SERVICES 4.1 Main product 4.1.1 Sofa sets 4.1.2 Beds 4.1.3 Dining sets iii 4.1.4 Chairs 4.1.5 Side boards 4.1.6 Other household furniture 4.2 Other products/services 4.2.1 Office furniture 4.2.2 Kitchen fittings for new houses 4.2.3 New doors 4.2.4 Transport 5. OPERATION PLAN 5.1 The production process of making furniture 5.2 Equipments required and their costs 5.3 Materials required 5.4 Source of equipment and materials 5.5 Quality standards 5.6 Insurances 5.7 Licences 6. MARKETING ANALYSIS 6.1 Situational analysis 6.2 Market demographics 6.3 Market needs 6.4 Market growth 6.5 Competition iv 6.5.1 Who are you competitors? 6.5.2 Competitors strengths 6.5.3 Competitors weaknesses 6.5.4 Capitalizing on their weaknesses 7. MARKET STRATEGIES AND IMPLEMENTATION 7.1 Pricing 7.2 Quality 7.3 Branding 7.4 Packaging 7.5 Advertising 7.6 Promotions 7.7 Sales and sales tactics 7.7.1 7.7.2 7.7.3 7.7.4 Direct sales Whole sales Telephone sales Word of mouth 7.8 Distribution channels 7.9 Website marketing 8. SWOT ANALYSIS 8.1 Strengths 8.2 Weaknesses 8.3 Opportunities 8.4 Threats v 9. ORGANIZATION AND MANAGEMENT 9.1 Organization chart 9.2 Key personnel- qualifications, posts, duties and responsibilities 9.3 Other staff 9.4 Recruitment and training 9.5 Salary summary 9.6 Incentive policies 9.7 Staff guidelines 10. POTENTIAL RISKS 6.1 Risk analysis 6.2 Managing risks 11. EXIT STRATEGIES 7.1 Closure of business 7.2 Sale of business 7.3 Sale of assets 12. FINANCIAL PLANS 1.1 Projected sales analysis 1.2 Projected profit and loss for 3 years 1.3 Projected 1.4 Cash-flow for 3 years 1.5 The balance sheet vi 13. ATTACHED SCHEDULES vii