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20.Pricing strategy.
How are you going to price your business, have
you considered the effect upon your gross margins,
do you know what margin you need. How does this
compare to others, is this a limiting factor
or is that up to you because of your competitive
advantage. If you have needed funding then demonstrating
gross margin management will be important to
your proposal.
21.Business Structure, why
have you chosen the business structure, the
simplest being a sole trader. This may be the
right solution but why, show the reasoning to
demonstrate you have looked at the options.
To look at options and discount them is a good
management philosophy, not to look at them can
lead to disasters and therefore it is a good
discipline.
22.Premises and location.
This is one of the most crucial factors particularly
if it is a retail business. However this choice
will need to be made taking account of
will your customers come to you
can suppliers find you easily
transport feasibility
is it easy for employment of staff
is there car parking
is it on a bus route or will all staff have
to have cars to get to work
Are the premises just big
enough for now, what about tomorrow. Lease terms,
is is long or short, what are your commitments,
break clauses, it is a real drain on the business?
23. Management &
CV’s. For potential lenders this section
ranks very high in importance. The plan should
demonstrate that you and any staff members have
the variety if skills needed to run a business
like yours. Additionally if you have identified
any shortcomings, what you are going to do to
address this.
Include salary and wages agreed at the outset.
It is recommended that a short CV is included
for all people to be involved.
Include an organization chart of staff and business
functions if there are more than 2 staff involved.
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