Floral Design 1 class - Business PlanPresentation Transcript
Floral Design I Flower: Hydrangea Term: Business Plan
Color: blue, pink, and white
Air-dries well; color is distinctive with varying shades of blue and pink also available as a potted plant.
Large mass flower
Longevity: days 5-7
Sold by stem, cost $2 – $5 each
* Now available year round but cheapest and most plentiful Summer and Fall
Business Plan - A formal statement of a set of business goals. It includes:
The reasons why they are believed attainable
The plan for reaching those goals.
Background information about the organization
Retail – Selling flowers or plants to consumers
Service Company – Wedding Consultant
Grower/Producer – Sell wholesale
Write a business plan before you start your business.
“Failing to plan is planning to Fail”
1/3 of all new businesses fail the 1 st year
Helps you to thoroughly consider details of a business before you start
Necessary for applying for credit
Parts of a business plan
Executive Summary – put the basic idea upfront to capture the attention of the reader – it needs to be interesting and positive
Mission and objective – Explain your business and what you hope it will do for you.
Company & Industry – How did you think up your business idea? What are other ______ doing?
Products & Services – What will you do or sell? Why will your business standout?
Market & Competition – List all other ______ businesses in your area. How will you compete?
Management – Describe the background and qualifications of the key members of your team
Marketing Strategy – Estimate your sales. How much of the market will you control?
Operations plan – Describe your shop, its size, and the equipment you will need. How much will it cost? Who will you need to hire and why?
Overall Schedule – Make a plan to build, buy, or rent your shop and staff your business. Identify the stages for completion.
Critical risks and problems – What worries you about your plan? What could go wrong?
Financial projections – Make a budget that explains how much you will need to start your business and how much you need to stay in business. How much money will come in and go out every day, week, month?
Exit strategy – Explain how investors will be paid back