How to Write a Basic Business Plan for Your New Retail Startup

Posted By Prakash Dhungana In Sub Category 1 On December 18, 2013 0 Comment 544 Hit

There are many reasons to write a basic business plan for your retail venture. For example, a business plan can help you get funding. It's a jumping-off point for you to get advice from more seasoned business owners. A plan can also help when you’re negotiating a commercial lease. Or it can simply give you a clear vision and a course to steer toward.

The first place to start is to articulate what your business is. Easy, right?

While you probably have a solid idea about your business swirling around in your head, actually articulating it in a succinct way is more difficult than you might think.

Think of this section as an elevator pitch of what you do. Try to summarize your business in three to four lines. That brief summary should include the basics of your business — who are you and what you sell, primarily.

It can also be helpful to actually try out your elevator pitch on others. Ask people who you’ve talked to about your business. What do they think that you do? This can help you get a better sense of how you’re presenting your business to the world and what you need to tweak so that people have a clear picture of what you’re trying to do.


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