Success of an enterprise is greatly enhanced bya vivid and exhaustive device called a business plan (Malcotsis,2002). A business plan is defined as a document that depicts firm’s products’ and services’portfolio, market forecasts, financial position andbudgets, production techniques and ways of attaining hergoals (Ward, 2016). The plan comes in handy when planning to actualizeentrepreneurial ideas or while expanding an already functioning business.It is the aim of every entrepreneur to start a business whose prospects are good enough to ensure sustainability.A clear and attractive business plan can ensure thisis accomplished (Rogoff, 2007).
It is dynamic and is frequently updatedwhen necessary at any given instance. An effective business plan shouldthoroughly evaluate the target market and competition stiffness. It shouldprovide a concise summary of the enterprise and depictinnovative ways for marketing, running, funding and managing the business (Ward, 2016). It should reflect the need of the firm and be achievable, informative and compelling to getall parties to the business committed.
A business plan has numerousapplications for the corporate realm. The uses are broadly classified as eitherinternal or external. Internally, the plan is usedto; conduct SWOT(strengths, weaknesses, opportunities and threats) analysis for enhancingperformance, harmonize the plans andoperations of different sections in big companies,inform employees about the companyby evaluating the past and/or recent performance andtrends and provide a firm basis for decision making exercise on thesatisfaction of the business (Crego, Schiffrin, , 1995).Externally, a business plan informs the stakeholders andcustomers of mission, vision, objectives, performance andfirm organization.
Furthermore, it is quite useful when outsourcing forfunds to start or expand a venture(Crego et al., 1995; Malcotsis, 2002). Hence, abusiness plan should compel and inform the audience in a way that is easy to understand. Moreover, it ought to be realistic to realize its purpose.Farm Machinery Manufacturer Business Plan and CosmeticsManufacturing Business Plan are selected for this study. A briefoverview of each plan is detailed in the outlinesection. Farm Machinery Kouros Brothers Ltd (KBL) is a Cyprianbased firm that provides a wide range of agriculturalcommodities and services. It is a producer, an importer anda legal retailer of a collectionof heavy-duty agricultural instruments.
It isthe only authorized intermediary for major European agricultureproducers. The company has wide markets extending tothe Middle East as well as Syria. The firm has spotted a new opportunity and intends to seize it. The government plans to provide incentives amounting to256 million Euros for agricultural producers that intend to acquire thestate-of-the-art technologies to add value of theirproducts and consequently fetch high prices on themarket (Bplans, 2017a). The business plan intends to communicatethe potentials of the firm, to showcase the company’sgood image and her expanding market shares and to stress the need forfunding to aid in the expansion. The firm boasts ofattractive returns and assets, but lacks adequate capital to acquire the muchneeded exhibition machinery to cater for the anticipated hugesales’ potential due to the incentive funds. The firmhas identified a list of proven buyers of the newtechnology. The firm is under desirable pressure for expansionto fully cater for the widening market demands.
As a result, thecompany is looking for funding of about £50,000 to realizeher mission. Cosmetic plan Blue spa, ownedby Brunner’s family, is a US firm based in Oregon State.The corporation “has created a brand concept consisting of bothskin care and athletic apparel utilizing multiple channels of distribution”(Bplans, 2017b). The firm has an eye on the untappedmarket niche.
Currently there exists no brandthat is all-inclusive as far as the beauty and fitnessproducts are concerned in this industry. For instance,women customers have been conspicuously neglected in the fitness clothing andauxiliaries. This presents the firm with a glorious opportunityto establish and roll out growth plans for the idea. Thebrand is mainly targeting educated women from theirmid-twenties to mid-sixties with special concern on healthy living andmaintaining fitness. The firm intends to accomplish her goals by beinginnovative in marketing and bolstering herself on quality productiontechniques.
This business plan presents theirmarket analysis, value proposal and marketingplans. The plan foresees a pay-back period of 3 years. They arelooking for investors to fund the establishment of the brand.