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Our primary strategy is to develop Blue Mountain Cycle Rentals as the most convenient and cost-effective rental alternative for the thousands of visitors who flock to the area each year.Once underway we will expand our scope and take advantage of high-margin new equipment sales and leverage our existing labor force to sell and service those products.to show prospective employees since you're still in the startup phase.
Many people see writing a business plan as a "necessary evil" required to attract financing or investors.
Instead, see your plan as a no-cost way to explore the viability of your potential business and avoid costly mistakes. If your Summary cannot clearly describe, in one or two pages, how your business will solve a particular problem and make a profit, then it's very possible the opportunity does not exist--or your plan to take advantage of a genuine opportunity is not well developed.
Maybe you think you don't need a step by step guide to writing a great business plan.
Maybe you think you don't need a template for writing a business plan.
As you develop your Summary you will naturally focus on the issues that contribute most to potential success.
If your concept is too fuzzy, too broad, or too complicated, go back and start again.A joint venture is a formal agreement to share the work--and share the revenue and profit.As a new company, you will likely be an unknown quantity in your market.Setting up a joint venture with an established partner could make all the difference in getting your business off the ground. Maybe, after evaluating the competition, you realize your plan to be the low-cost provider isn't feasible since the profit margins will be too low to cover your costs.Or you might realize the fundamental idea for your business is sound, but how you implement that idea should change. They learn from mistakes, and adapt and react to changes: changes in the economy, the marketplace, their customers, their products and services, etc.Maybe establishing a storefront for your operation isn't as cost-effective as taking your products directly to customers--not only will your operating costs be lower, but you can charge a premium since you provide additional customer convenience. Successful businesses identify opportunities and challenges and react accordingly.Creating a business plan lets you spot opportunities and challenges without risk.So a solid business plan should be a blueprint for a successful business.It should flesh out strategic plans, develop marketing and sales plans, create the foundation for smooth operations, and maybe--just maybe--convince a lender or investor to jump on board.Even though you may be creating a business plan solely for your own purposes, at some point you may decide to seek financing or to bring on other investors, so make sure your Summary meets their needs as well.Work hard to set the stage for the rest of the plan.