Tag Archives: business

Businnes Plan

Medical Billing Business Plan


Medical Billing Business Plan


Medical billing services exist today to help with the management of medical practices. These services relieve medical professionals of tedious detail work, but rarely do they offer a means to substantially maximize the practice’s bottom line. Physicians1st Billing and Claims is a service that will allow office staff to focus on more important tasks and maximize the return from their insurance carriers.

According to national statistics, only 70% of insurance claims that were initially submitted on paper are ever paid. The percentage of claims that are paid to insurance carriers can be increased by using electronic submissions, such as Physicians 1st Billing and Claims.

Additional statistics suggest that the current cost for a medical clinic to process insurance claims on patients is between $8.00-$10.00. Physicians 1st Billing and Claims can reduce these costs by 50 percent or more.

Statistics show that paper claims turnaround times can take up to 30-60 days, or even 90 days, which creates serious outstanding receivables. Physicians 1st Billing and Claims is able to have money in the doctor’s hands within 14-18 working days by electronically submitting claims. This will reduce outstanding receivables in proportion and significantly improve cash flow.

Statistics also indicate a 30% rate of rejection or suspension for paper claims. This does not necessarily mean that claims are never paid. It does however mean that medical staff have to deal with insurance companies over payment. With the extensive editing performed on electronic claims prior to their transmission to carriers, this percentage is reduced to 2-3 percent. Claims are submitted accurately at 98 percent.

Many years ago, doctors graduated from medical school believing that they would run a “practice.” Many simple administrative procedures were neglected, such as:

  • Staying current with regulations and insurance specifications so that claims are paid promptly.
  • Concentrate on collecting receivables or co-payments.
  • Ensuring that fees were kept at the maximum allowable insurance carriers were paying, or
  • In order to ensure that claims weren’t rejected or suspended, the procedure codes were always current.

In many offices, the number of outstanding receivables grew dramatically and annual bad debt write-offs became a common practice. But adequate profit margins allowed medical practices to ignore sound business procedures. In the past, medical practice complacency about industry changes is now a thing of the passé. Four years ago, physicians began to pay attention to public opinion on health care reform. Physicians are seeing their profit margins shrink due to the infiltration of managed care companies into the industry. They now realize the importance of adopting more efficient business strategies in order for them to survive into the 21stcentury. Physicians 1st Billing and Claims is prepared to assist local health care providers move through the last of the 20th century and into the 21st century with sound practices that will guarantee business success and, in turn, guarantee quality health care for our families and our country.

Physicians 1st Billing and Claims provides over $9,000 for this business. We need to borrow an additional $5,000. This business plan is very important. This section explains how to use these funds.

1.1 Objectives

  1. You can open one account before the end of month 2.
  2. 1500 claims per month, 15
  3. To become recognized as a local industry expert in the field of medical reimbursement.
  4. You may also add the following services to our initial offer of electronic claims submission:

    • Code optimization
    • Analysis of managed care contracts
    • Full practice management.
    • Customized reporting
    • Medical transcription.
    • Analysis of fees
    • Medicare financial impact analysis.

1.2 Mission

Physicians 1st Billing and Claims, a medical reimbursement consulting company, helps medical practices to become more efficient and to save money by allowing them outsource their medical billing and insurance processing to an expert reimbursement service. We plan to provide a one-stop solution for all administrative needs of medical practice administration by 1998. We plan to make enough profit by 1998 to repay our business start-up loan, and to finance our continued growth and development through our quality service.

1.3 Keys To Success

The Federal Government has been encouraging electronic submissions of insurance claims since 1985. Electronic submission can result in millions of dollars being saved annually, according to statistics. Presently, 95 percent of all pharmaceutical claims and 70 percent of hospital claims are submitted electronically. The percentage of electronic submissions for physician and dentist claims is far lower than that for physicians and dentists, which are only 25-30%.

The Federal Government is not happy that this situation exists so Congress in 1990 mandated that doctors file claims on behalf all Medicare patients. Many doctors weren’t prepared for the avalanche of paperwork. Doctors still manage to get out from under the paper eight years later. In 1996, congress heard the calls for electronic submission of all Medicare claim. No mandate was passed but the paperwork continues to mount up and as baby boomers near retirement age the paper problem will only get worse and those echoes will turn into screams. The United States will issue more than 1 trillion dollars in medical bills this year. This is 9 billion medical claims. Medical practices will be forced to meet the mandates, and growing mountains of paper and most are not currently equipped to handle the transition. The best solution is to hire experts to help you save money, get your claims processed quickly, and make sure that the claims are handled accurately. It is rare for businesses to say that the Federal Government is supporting them every step of the way.

A second key to our success will be flexibility. Physicians 1st Billing and Claims knows that each medical practice has its own unique characteristics. Even practices of the same specialty will have different staff and offer different services. Physicians 1st Billing and Claims assess the needs of each practice and will offer solutions to make the practice more efficient. One person may need all services while another may prefer a specific set of services. Each office’s needs will be considered when billing is done.

Diversified services are the third key. Physicians 1st Billing and Claims gives you a single-stop shopping experience when it comes to medical administrative services.

Businnes Plan

I.D. Verification Technology Business Plan


I.D. Verification Technology Business Plan


Bionex, Inc. provides biometric security solutions for Identity Theft, Credit Fraud and other issues. Bionex, Inc. uses our patent pending Exigency Process to differentiate itself. This method works by processing and expressing the details of an individual’s finger using a unique algorithm rather than matching them against a previously stored image. This process will eliminate storage of millions of individual fingerprints on databases, lower operating costs, and maximize efficiency across the entire system. Our process will enable secure virtual transactions and seamless integration of biometric security in existing systems.

Our technology has a huge market potential and is expected to continue growing rapidly. For several reasons, the market for biometric identification is expected to surpass $4.04 billion in two years. Credit and identity fraud cost banks and government over $47 billion last year alone. A new law in the health sector and increased security concerns related to terrorism will also increase the need for biometric equipment in the Transportation and Healthcare sectors. Bionex has several biometric products that can be used to supplement our Exigency Process. These solutions will facilitate biometric accuracy as well as security in any environment.

Potential competitors include the Biometric Access Corporation (BAC), Bio Pay, Identix, Pay by Touch and Touch Credit. Recent exits from this market include Bioconx and Infineon which failed largely due to over-reliance on the image enrollment system. Bionex, Inc. has several competitive advantages over its competitors, including:

  1. Our solutions are not application- or system-intrusive, meaning our products can seamlessly integrate into any existing platform.
  2. Our products provide privacy protection and eliminate the need for corporate-based databases.
  3. Our technology is a licensable design that can be integrated into OEM systems and products.

The marketing plan for Bionex is designed to attract new customers and capture new markets. Through strategic contacts, we will gain positive national exposure in Wired and Business Week Magazine, and positive national systems reviews from ZDNET, and CNET. Bionex will attract financial licensing and banking contracts through complimentary testing, upgrades, POS systems and other services. Bionex will begin retail distribution contracts with CompUSA (BestBuy), J&R Computer and J&R Computer.

Our management team has extensive experience with technology development, marketing, finance, and customer service. Senior executives are experts in fraud control, transaction handling, and POS payments systems. Our company is run by a Finance Major well-experienced in the biometric and financial services sectors. He is an entrepreneur with a track record and is supported by a team that includes veterans from almost every field of the technology and financial service sectors.

The company is expecting to see huge sales and a big net profit in year 3. Bionex plans to quadruple its sales and reach hugex4 revenue in year five. This company is potentially profitable in year one assuming no problems with credit card licensing agreements and retail distribution contracts.

A capital investment in the next six month period would enable Bionex Inc. to make, ahead of plan, operational improvements to scale for expected growth.

1.1 Mission

Bionex, Inc.’s main goal is to provide our customers and business partners unparalleled security and reliability. Three areas are the most important for data security.

  • Protection Bionex’s security systems only allow users to be identified by their fingerprints alone. Our Exigency Process prevents data loss or theft.
  • Privacy The Exigency Processing converts fingerprints in complex mathematical algorithms, which are only available for fractions seconds.
  • Flexibility All of our solutions can operate on any mix network and system infrastructures.

1.2 Keys for Success

  1. All patent applications complete and approved.
  2. To fully finance start-up development and prototype manufacturing, you will need to raise initial private capital.
  3. You can get an implementation contract from a financial institution.

  • Steady Research and Development funding, to maintain a broad and diverse product line.
  • In order to reach new markets and customers, it is important that you focus on marketing campaigns.

    • 1.3 Objectives

    1. Receive capital injection during the first year.
    2. Generate huge sales by third year of operation.
    3. To make BioXert verification systems widely used transactional tokens by year five.
    4. To make BioVert by year five the best-selling biometric device.
    5. To expand internationally, licensing and distributing products and solutions worldwide by year six.

    Businnes Plan

    Bar and Tavern Business Plan


    Bar and Tavern Business Plan


    Foosball Hall in Madison is a brand new gaming hall and bar. Foosball or table soccer is an exciting table game originating from 1920’s Germany. Foosball involves two to four people playing in an exciting match that tests skills, strategy, and willingness for fun. Folosball is an alternative to pool that appeals to male students. They are looking for a game that is skill-oriented and can be played in a bar setting. While there are many different pool hall bars in Madison, there are no foosball bars even though the demand is quite apparent. Demand can be witnessed anywhere there is a foosball table. Every foosball game is a hot topic. There are always people in line waiting to play. It is rare to find a foosball room empty. Foosball Hall in Madison, Wisconsin will provide beer, food and beverages as well as a variety of foosball tables that can be used for tournament play.

    Keys To Success

    Foosball Hall has identified three critical keys to their success. The first is the necessity to create and implement strict financial controls. This is especially important if you have establishments that sell alcohol. Employee theft is the greatest drain on your business. Financial controls will reduce the risk. The second key is the attitude of employees towards customers. Every customer must be treated as if he or she were Foosball Hall’s most important customer. The final key to success is continuous analysis of the business model. It will be management’s task to continually analyze the business model looking for ways that it can be adjusted to increase profitability for the business. Foosball Hall is not going to assume that the business model is static. Instead, they believe that it must be dynamic in order for it to grow.

    Target Market Customer

    Foosball Hall identified two target populations. The first segment is casual gamers of table games. This segment is a casual player of table games like foosball and pool in a bar setting. They appreciate the opportunity to play a fun game while they consume beverages (alcoholic or not) and socialize with friends or strangers. This group has 54,889 customers and is on the rise at an average annual rate of 8.8%. The second group that will be targeted is the competitive player segment. These people enjoy foosball as much as the casual players. However they are also competitive. They play foosball in order to win with their friends, or in tournaments. And they continue to work hard to improve their skills. This segment can attract 12,445 potential clients and has an annual growth rate in excess of 7%.

    Management

    Stan Spinner is the Foosball Hall leader. Stan earned his undergraduate degree in Philosophy at the University of Wisconsin Stevens Point. Stan worked in a pool hall while at college. Stan’s first experience working in a retail establishment gave him invaluable insight into customer preferences and habits. Stan decided that he would like to own his own business one day, but was not confident with his limited skills. He enrolled in the University of Wisconsin’s MBA Entrepreneurship program. Stan went through the two year program with the intention of opening a foosball bar upon graduation. Having this goal in his head while taking the course work proved to be quite valuable as it became a lens through which Stan studied all the new material.

    Foosball Hall (foosball hall) is a new gaming (foosball), bar that serves Madison’s students. Sales have been forecast to be approximately $200,000 for year two, increasing to approximately $290,000 in year three. Net profit will be negative in year one, rising to a positive % in years two and three.

    1.1 Keys for Success

    Foosball Hall identified several business components that are necessary to be successful in this highly competitive market.

    1. Employ strict financial controls. This is especially important in bars where the possibility of theft by employees can lead to bankruptcy.
    2. Treat every customer as though they are the most important customer to Foosball Hall.
    3. Continually look for improvements in the business model as well as operating systems.

    1.2 Mission

    It is Foosball Hall’s mission to become a premier night spot for Madison students and locals who are interested in playing table games and drinking.

    Foosball hall will achieve this goal by providing affordable foosball tables and beer as well as food at reasonable prices. Foosball Hall, which offers the Madison market an opportunity to play the increasingly popular table game Foosball, will quickly become a Madison hit. The business will be operated on the premise that satisfied customers are imperative to a sustainable business.

    1.3 Objectives

    • To be one of Madison’s most popular venues that offer table games, specifically foosball, beer and food.
    • To grow the game of foosball in Madison, adding legitimacy to the game and increasing the number and participation levels of the tournaments.
    • Attain sustainable profitability in year 2.

    Businnes Plan

    Construction Irrigation Business Plan


    Construction Irrigation Business Plan


    Hass Irrigation Systems can serve our customers’ irrigation needs. Hass Irrigation Systems is focusing on Monroe&#8217’s Lake Charles subdivision. For the past 10 year, the city’s population has grown by 9% every year. The city’s new construction in Lake Charles has been valued at $600million in home sales for next year.

    Currently, Hass Irrigation Systems is a subcontractor with Bentwood Custom Homes, Greenridge Homes, and Landmark Homes to provide irrigation services to their new homes in the area. Hass Irrigation Systems plans to market its services from this base to homeowners in Lake Charles.

    The current population of the city’s Lake Charles area is 120,000 with an income range of $100,000 – $500,000. Hass Irrigation Systems can capture a significant portion of the irrigation market in this residential area.

    1.1 Objectives

    Hass Irrigation Systems aims at:

    • Capture the majority of the irrigation business in the Lake Charles area.
    • Our customers will receive a high-quality service at a very affordable price.

    1.2 Mission

    Hass Irrigation Systems will never forget customer satisfaction. By putting the needs of our customers first, we will expand our customer base. We will not operate in the same manner as other irrigation businesses. We won’t disappear in October and then reappear in March. Instead, we will be available when our customers need us.

    1.3 Keys to Success

    The keys to success for Hass Irrigation Systems are:

    • Service that is prompt and polite
    • Our irrigation expertise is unrivaled by any other company
    • Competitive pricing.


    Businnes Plan

    Coffee Shop Business Plan


    Coffee Shop Business Plan


    Opportunity

    Problem

    People near the University of Oregon need not just coffee and tea, or pastries and snacks, but also a place to meet comfortably, have a group discussion, or just sit quietly, work, and read. This is what’s available on the University of Oregon campus. But it’s too crowded, too often, and doesn’t have the right combination of factors.

    Solution

    Java Culture coffee bars are a must-have for local coffee drinkers. They offer a safe place to relax and enjoy a cup of coffee, as well as a cozy place to share stories with friends.

    Market

    Java Culture will direct its marketing efforts towards University students and faculty. This includes people working in offices near the coffee bar, as well sophisticated teenagers. Based on market research, these customers are the most likely to purchase gourmet coffee. The proximity of the University of Oregon campus, which is accessible to the targeted customer group, will enable gourmet coffee consumption to be universal across all income levels.

    Competition

    Java Culture’s direct competitors will be other coffee bars located near the University of Oregon campus. These include Starbucks coffee shops, Cafe Roma, The UO Bookstore and other Food service establishments offering coffee.

    Why Us?

    Great coffee, pastries, additional options for tea etc, very welcoming atmosphere, good wireless, desk space, comfortable chairs and tables, good pastries, a location close to the university campus.

    Expectations

    Forecast

    As shown below, we plan to grow as derived from our sales forecast. We plan to achieve a standard 60% gross profit margin, reasonable operating expenses, as well as reasonable profits in the second year.

    Financial Highlights Year-by-Year

    Finance Required

    The owners will spend $140,000 to start the company and then take out a $30,000 loan from the bank to cover any deficient spending or assets.

    $27,000 for start-up expenses

    • Legal expenses for obtaining licenses and permits as well as the accounting services totaling $1,300.
    • Marketing promotion expenses for the grand opening of Java Culture in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
    • Consultants fees of $3,000 paid to ABC Espresso Services for the help with setting up the coffee bar.
    • A total premium of $2,000.
    • Pre-paid Rent expenses for one Month at $1.76 per Square Foot in the Total Value of $4,000.
    • Remodeling premises for $10,000
    • Other start-up costs include stationery ($500) as well as phone and utility deposits ($2,500).

    These expenses will not be incurred until launch so they appear in our financial projections at negative retained earnings ($27,680) at the end each month. This number is shown in the balance sheet.

    The required start-up assets of $143,000 include:

    • Cash in the bank totaling $67,000. This includes enough cash to pay employees and owners salaries of $23,900 in the first two months, and cash reserves for three months (approximately $14,400 per month).
    • Start-up inventory of $16,000, which includes:

      • Coffee beans (12 regular and five decaffeinated varieties) #8211 $6,000
      • Coffee filters, baked goods, salads, sandwiches, tea, beverages, etc. – $7,900
      • Retail supplies (napkins, coffee bags, cleaning, etc.) – $1,840
      • Office supplies $287
    • Equipment valued at $60,000

      • Espresso machine – $6,000
      • Coffee maker – $900
      • Coffee grinders #8211 $200
      • Food service equipment (microwave, toasters, dishwasher, refrigerator, blender, etc.) – $18,000
      • Storage hardware (bins and utensil racks, shelves, food cases) #8211; $3720
      • Counter area equipment (counter top, sink, ice machine, etc.) – $9,500
      • Flatware (plates/glasses, flatware and serving area equipment) #8211 $3,000
      • Store equipment (cash registers and security systems, signage, ventilation, etc.) #8211; $13,750
      • Office equipment (PC, fax/printer, phone, furniture, file cabinets) – $3,600
      • Other miscellaneous expenses: #8211 $500

    Funding for the company comes from two major sources–owners’ investments and bank loans. Arthur Garfield and James Polk are the two major investors. They have each contributed $70,000, and $30,00, respectively. All other investors have contributed $40,000 to bring the total investments up to $140,000. The rest of the $30,000 required to cover start-up costs and assets was provided by two bank loans. One-year loan amounting to $10,000, and long-term loan amounting $20,000. Both loans were secured with the Bank of America. Thus, total start-up loss is assumed in the amount of $27,000.

    These amounts are shown in the balance sheet for the month before opening. Paid in Capital appears as the $140,000 invested. The $27,000 expenses are shown as negative retained earnings. Both assets and liabilities exist. This is all according to financial standards.

    Businnes Plan

    Scholarship Consulting Business Plan


    Scholarship Consulting Business Plan


    ScholarshipAssist provides assistance to college-bound student in the search for scholarship money. ScholarshipAssist has the ability to increase the amount of scholarships awarded to students. It can also increase the chance of students receiving a scholarship. ScholarshipAssist provides personalized consulting for each client and maintains a vast database with available scholarships.

    Keys to Success

    ScholarshipAssist identifies three key factors to success it believes are crucial to the health and well-being of an organization. The first is to provide significant value to customers. Second, maintain a 60% success ratio for scholarships or increasing the scholarship amount. Adherence to strict financial controls is the third key.

    The Market

    ScholarshipAssist shattered its market into 2 distinct segments. The first group is sure thing applicants, the market segment that is very likely to receive scholarships. This segment is growing at 10% per year and has 93,000 potential customers. The second group is the questionables. ScholarshipAssist will significantly increase their chances of getting a scholarship. This group has an annual growth rate of 11% with 112,000 potential people.

    Management

    Steve Tracker, an industry veteran, leads ScholarshipAssist. Steve’s educational credentials include a graduate degree in business from Babson College. He has worked in the financial aid department at Babson college, Fannie Mae, and Pew Charitable Trust Foundation. ScholarshipAssist can only succeed with a skilled manager.

    ScholarshipAssist projects sales of $172 589 in year two, and $232 508 in year three. Over the next three year, profitability will rise. ScholarshipAssist’s combination of a well-designed business plan in a rapidly growing market and a skilled manager will allow for rapid market penetration in a dynamic market.

    1.1 Mission

    ScholarshipAssist’s mission it to help thousands college students achieve their dreams by finding scholarships. ScholarshipAssist is committed to providing 100% customer satisfaction.

    1.2 Objectives

    • Be the resource for scholarship assistance
    • Reach profitability by the end of year one.
    • Within three years, you can generate $200,000 in annual sales.

    1.3 Keys to Success

    • Offer significant value to clients by having a comprehensive database of scholarships and useful application information.
    • Assist at least 60% clients in obtaining significant scholarships.
    • Maintain strict financial controls.


    Businnes Plan

    Wrestling Entertainment Business Plan


    Wrestling Entertainment Business Plan


    Professional wrestling is now more popular than ever. Pro wrestling has been featured on 7 of the top 10 cable TV shows every week for the past year. Jay Leno from Tonight asked Shaquille, a NBA Superstar Shaquille Owens-Neal, what his favorite thing was to watch on TV. Shaq quickly responded that professional wrestling was his favorite thing to watch.

    The NBC Television Network released the results from a survey it conducted last February. It listed the ‘#8220’ top viewer sports in America as:

    1. National Football League
    2. Professional Wrestling
    3. Major League Baseball
    4. National Basketball Association.

    Professional wrestling is family entertainment. It appeals to all ages, with 40% of the audience being female and 40% being male. Additionally, 35 million people tune in to professional wrestling every week. Millions more attend sold-out arenas to see it in real life.

    The top two pro wrestling organizations in the industry are the World Wrestling Federation (WWF) guided by its president Vince McMahan, Jr. and the Ted Turner-owned World Championship Wrestling (WCW).

    TV Guide predicts that the WWF will earn $550 million and WCW $350 million in this year’s earnings. Vince McMahan made the WWF public in the first quarter and raised another $250 million. McMahan’s wealth is so great that he announced recently that he was creating his own professional football league, The Extreme Football League, to challenge the National Football League.

    There is a significant gap between the top pro wrestling organisations and all other organizations at this time. Extreme Championship Wrestling (ECW) is the closest thing to third. It’s a small group from New York/Philadelphia. ECW’s violent and “hardcore” nature makes it difficult to attract mass audiences and maximize its profit potential. ECW’s weekly Friday TV program on The Nashville Network has seen ratings hover below the 1.0 mark while TNN promised advertisers a 2.5 rating. IWA Championship Wrestling (IWA), has set as its goal and mission to create a family-oriented TV product and live events to maximize it’s appeal to television viewers and advertisers.

    The IWA aims to become the third-largest pro wrestling organization within three years. They also aim to make at least 10% of the current monies made by the #2 (WCW), or approximately $35 million annually. Projected costs are approximately one quarter of that amount. This will create a profitable and viable scenario for all involved.

    1.1 Objectives

    IWA Championship Wrestling aims to achieve the following goals during its three-year period of expansion and growth.

    1. You can be the third most loved professional wrestling organization in the world.
    2. Secure a national cable television contract for a weekly one-hour program.
    3. Start producing the weekly, hour-long pro wrestling program.
    4. Find the best existing talent and train new writers and managers.
    5. Send television programming to the globe.
    6. Promote live events in areas that have television programming.

    1.2 Mission

    IWA Championship Wrestling will create a family-oriented television show for sale and distribution in the United States and internationally. It will help the television program with live events tours. These additional revenues will come from:

    • Quarterly Pay-Per-View Events
    • Sponsorships and advertising revenue
    • Merchandising souvenirs and other concession items. Also, a collection of videos that can be purchased via mail order, live events, or the official IWA website.
    • Creation of an IWA Professional Wrestling School .
    • For IWA talent, personal appearance fees may apply.

    Within three years, the IWA is expected to be the number 3 professional wrestling organisation and a major industry player. Our programming will continue to receive TV ratings in between 2.0 and 2.5. We will use established stars to entice viewers to tune in and will also have outstanding new talent.

    In five years the IWA can challenge WCW’s second place in the industry and earn approximately $35 million annually.

    The IWA’s appeal will be to fill the major void in professional wrestle by providing a “family-oriented” and “family friendly” professional sports entertainment programming. The IWA is committed to family values and will appeal to more people than just hardcore fans.

    There is currently no pro wrestling programming. The WWF and WCW are the only options for fans, and they look identical in format and design. There is a high emphasis on extreme violence, vulgarity, disrespect of authority and women, nudity, and use of alcoholic beverages in the ring and locker room areas … all seen as part of their weekly television programming.

    The only alternative to WWF and WCW programming currently is Extreme Championship Wrestling (ECW) which appears on the Nashville Network (TNN) and appeals to the hardcore, extreme fan only.

    IWA fans are encouraged to encourage their children to follow the IWA’s programming. We will establish role models that are positive, strong, and family-oriented in every way. The IWA will bring “rasslin”, or professional wrestling back to life. They will emphasize talent, skill, abilities, and not the ridiculous, demented stories that are in fashion with the others.

    It makes strong business sense to appeal to the majority or masses of wrestling fans who range in age from 3 to 93, are 40% female, and very strong in the 21 to 49-year old male segment of the population. Pro wrestling does not need to be only for kids. By tapping into the “main stream,” the IWA will have a unique and very strong position within the industry that will yield maximum profit potential.

    Businnes Plan

    Gift Shop Business Plan


    Gift Shop Business Plan


    Regali Luxuri’s principals, Kaethe Valnova and Bensai Hallstadt, are Kaethe Villanova. Regali Luxuri a specialty gift shop is located in Treschicburg’s Warehouse District. We specialize in a variety of high-quality merchandise such as personalized greeting cards, business cards, home accents, and personal apparel. Regali Luxuri targets middle-to high-income clients. Our company image shows what customers are looking for in home accents or gifts. This is a ‘#8220’ Modern & Urban Style. Our company is different from other specialty retail shops because of the printing services we offer, our unique product line, and a variety of proprietary products that we have created.

    We will have a website before Regali Luxuri’s Grand Opening. Regali Luxuri hopes to break-even in year one, and generate moderate profits in year 2. Regali Luxuri’s future growth plans include expanding the physical location to include the 2nd Level of the live/work unit, broadening the product line, hiring people to design our unique merchandise; implementing ecommerce to our existing website by year three; as well as establishing a mail-order catalog.

    We incorporated our business as an “S” corporation. Bensai Kaethe and Kaethe have worked for many years to develop and expand our home-based retail business. Each of us contributed an equity investment to the retail location’s opening. Kaethe has five year experience in retail accounting and retail, and Kaethe has taken management and entrepreneurial classes at the University SBDC. We are able to train future employees and manage daily operations thanks to our experience and ongoing education.

    1.1 Objectives

    • Total sales revenue must be generated to make a profit by the end of the first year.
    • Implement e-commerce capabilities to existing company website in year three.
    • Set a three-year average annual growth rate at 20%
    • You should aim for a sales cost of less than 45%.
    • In the second year, 50% of our merchandise will be made into proprietary products.
    • Our company will be a leading &#8220Brand Recognized#8221 name in the community by year 1.

    1.2 Mission

    Regali Luxuri is an exclusive boutique for specialty cards, gifts, and apparel that specializes exclusively in unique merchandise that is not often found in larger retail markets. We are dedicated to providing customers exceptional customer service in a visibly relaxing and engaging shopping environment. We aim to offer high-quality, unique merchandise at reasonable prices to our customers.

    1.3 Keys to Success

    • Personalize a product collection of handcrafted, unique products.
    • Provide products and services that are customized to meet the needs of each customer.
    • Establish a loyal customer following by offering seasonal promotions / discounts, distributing direct mail postcards, offering quality merchandise at affordable prices, and providing a visibly inviting and comfortable shopping environment.
    • A #8220Brand Identity&#8221 is a brand that personifies quality, gift giving merchandise and exceptional customer service.


    Businnes Plan

    Energy Conservation Business Plan


    Energy Conservation Business Plan


    Green Power Consultancy (Burlington, VT) is a start-up business that offers advice and design to architects and consumers about environmentally sensitive buildings. They also offer energy consumption recommendations. Green Power has identified three key factors that have made it a success. Green Power believes that it is important to only offer solutions that can be sourced from the market. The second is to make sure all offerings are based upon economic justifications. A solution must be able to justify its long-term economic worth beyond environmental considerations.

    Green Power will target both architects and individual customers. Green Power will have close relationships with architects so that they can offer environmentally friendly solutions to their clients. This group is growing at 7 percent and has 23 potential customer. The second customer group is individual consumers; an environmentally conscious group that have sought out a service provider to help them implement their personal ethics into the design of their new or existing structure.

    Green Power offers many services such as advice regarding passive heating and grey water usage, renewable energy considerations, employee transportation options, and recommendations for grey water use.

    Green Power will be supervised by Sue Lang and Dan Lang. Dan received a degree in environmental studies, business, and a Masters in architecture. Dan has several years’ experience working in the industry. The second part of the team is Sue Lang. Sue has an MBA and work experience with the Bonneville Power Administration in their renewable energy department. Green Power&#8217, through the combination of outstanding education and valuable work experience will be able successfully execute its business plan.

    Green Power forecasts sales at $202,343 in year two and $238,402 in year three. Net profit will be reached in the second year. Green Power will be a profitable, long-lasting business because it has a proven business model and a strong management team.

    Mission

    Green Power Consultancy strives to provide green energy solutions that are both cost-effective and efficient for existing building owners/lessors. Green Power will grow to be a viable business in Burlington through careful analysis and attentive customer service.

    Keys to Success

    Green Power has identified several keys to success that will be instrumental in creating a sustainable business. The chances of success will rise significantly if you follow these keys.

    1. Customers demand solutions.
    2. Ensure economic considerations are integrated into all the solutions.
    3. Customer satisfaction must be 100%. Customer expectations must be exceeded by all.

    Objectives

    Green Power has identified the following objectives for its long-term success:

    • Proven cost/benefit analysis environmental strategies for structure building, maintenance and consumption.
    • In five years, you will be the most prominent environmental energy consulting in the state.
    • Within three years, achieve profitability


    Businnes Plan

    Diamond Retailer Business Plan


    Diamond Retailer Business Plan


    It can be difficult to purchase an engagement ring, especially if you don’t have any knowledge of diamonds. Current studies indicate that there are 1.7 million engagement rings purchased per year in the United States (74% of brides, from 2.3 million weddings), with an average expenditure of approximately $2,000 per diamond engagement ring.

    Potential buyers have the ability to research the characteristics of the diamonds they want to purchase before visiting jewelers. In this case, we solve that very problem of “knowing so little” about the characteristics of the merchandise. This allows people to gather and learn information before actually visiting their local jewelers to buy diamonds.

    Online retailers don’t want to have to learn and gather information. They want the learning and gathering process to translate into sales. However, selling diamonds online is not the same as selling books online. The actual product should be seen before purchasing. “What if the brilliance shown online is lower than the one I bought?

    It is the question of how to leverage “high-touch” among the high-end dot-com retailers. We are struggling to find the right formula that will bring these high end loose diamonds to customers, while other low-end jewel retailers have been focusing on selling quantity.

    Rocks by Request (RBR), is the solution. RBR was established by Rock Stone, a third generation jeweler in the Bay Area, three years ago. RBR plans on expanding its operations outside of California after the three-year-old operation. The RBR concept is quite simple, leveraging local jewelers as its “front-end.” Through this strategy, RBR answers both “credibility” and “high touch” issues in selling its high-end merchandise via the Internet.

    RBR is changing how it positions itself in the aftermath the dot.com bust. RBR will continue to maintain connectivity, interactivity and speed but also ‘#8220’ humanize e-commerce by combining technology and tradition in the diamond retail industry.

    In this strategic plan, we describe how to further optimize the connectivity, interactivity, and speed in developing recommendations for RBR’s new business strategy.

    1.1 Objectives

    • To create an additional course of action, recommendation, or change to RBR’s current strategy to increase market share in loose diamond etailing.
    • RBR is to be informed about industry trends and market insights in the diamond industry. Provide a psychographic analysis of the current and possible engagement market. Also, describe the competitive landscape.

    1.2 Mission

    Our mission is to expand our current 2% market share to a greater portion in online diamond retail. When we look at the diamond retailing industry itself, the current 2% is rather low compared to the number of diamonds sold yearly in the United States. RBR needs to expand its network and strengthen its alliances with media vendors and Internet sellers in order to meet the growth criteria. RBR should also increase its R&D effort to provide the best e-commerce technology.

    1.3 Keys To Success

    RBR will expand its operations by taking advantage of these key factors:

    • Expanding its network to include family jewelers throughout the U.S. as well as globally.
    • Additional warehouses are being built to meet customer demand.
    • Improvement of logistic/supply chain to enable fast delivery and return.
    • Repositioning the website’s look by updating graphic elements and state of the art navigation.
    • For the promotion of the idea of buying loose diamonds online, it is important to form alliances and work with supporting media.
    • The addition of more product categories to the existing loose diamond section, such as gold settings in pendants, rings, earrings and earrings, along with gold trinkets/accessories that are aimed at a younger audience.