Create a Business Plan | The U.S. Small Business Administration | narrowxuwir.cf

 

making a business plan template

Jumpstart your business plan by downloading our free business plan template in Word format. Used by over , entrepreneurs, our investor-approved template will save you time and make the business planning process much easier. A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope. A bead making business is an exciting venture you should take seriously. You can start this business part-time or you can do it full time. But no matter how you choose to start this business, it’s advisable you start by putting together a business plan.


Making a plan | Business Wales


Are you about starting a candle making business? Okay, making a business plan template, so we have considered all the requirements for starting a candle making business. Candles are a great business to start as people buy candles for varying reasons and for this reason, you can go into it as an entrepreneur and make loads of money.

There are two ways candles can be made, which are container candles and mold candles. Deciding on what kind of candles you intend to go into is a decision you would have to make alone. Other decisions that you would need to make before starting your candle business is deciding what kind of wax you want to work with. You can also find out from competitors that are far from you, what waxes are best for starting your business.

Before approaching an attorney or getting a business name or legal structure, you would need to write a business plan. Below is a sample candle making business plan.

Candle sales in the United States have improved especially as there is an increasing variety of colored and scented candles, with 7 out of 10 households in the United States making use of candles. More and more people are demanding for candles as an addition to their homes for various reasons both abroad and domestically. The economic downturn however decreased demand from consumers with sales gradually picking up especially with the help of the social media which has ensured that more people become aware of why they would need a candle in their homes.

The candle making business is a multi-billion dollar industry excluding sales of candle accessories with positive projections of 2. Consumers who go after scented candles do so because they want their homes to smell good.

This is another niche for any innovative and focused entrepreneur as against those who make unscented candles. One of the reasons why the candle business has boomed to this extent is the fact that inputs used for production such as wicks, making a business plan template, fragrances, colorants and wax soy wax, paraffin wax, gel wax, beeswax and other natural based wax are not only cheap but easy to source. This means any entrepreneur who is focused and intent on starting the candle business will make great margins especially during periods where there are high demands.

The equipment and finances needed to start the candle making business is not only cheap but can be easily gotten by any focused entrepreneur. Regardless of this fact, new entrants into this industry might find it difficult to compete fairly with established operators due to the fact that there is rising concentration in the industry.

Also, making a business plan template, those already in the business will have leverage over new entrants especially in areas such as economies of scale as well as the target market.

The most popular candles in the United States are container candles, votives, and pillar candles. Most candle makers in the United States usually offer between 1, and 2, varieties of candles, with more than 10, different candle scents available to consumers.

Every year more than a billion pounds of wax making a business plan template used in making candles in America each year. The most commonly used wax is Paraffin, making a business plan template.

Some consumers even go as far as using candles to decorate the exterior of their homes, while those that use candles in the interior use it in their living rooms, kitchen and also the bedroom. Our candles are not just like any making a business plan template in the market as we produce each candle with our clients in mind. We make several kinds of candles both unscented and scented and our candles come in various shapes and sizes, and are constantly experimenting with new scents to intrigue the senses of our clients, who making a business plan template always on the lookout for something new.

Our candle making business is known far and near and we have created a legacy that has made us uniquely stand out from our competitors. Our franchise terms are fair to both franchisor and franchisee. We also offer consultancy services for those whose business needs an expert boost, as we boast of partnering with the finest professionals in the business. Due to our steady growth, our candles are not just found in Tulsa City alone but are spread all over the United States of America; as we have partnered with famous mass merchandisers as well as top gift shops where our candles are sold to our teeming customers.

We also carry out sales of our unique candles on our websites as well as several other online marketplaces. Our website is user-friendly and not complicated to navigate at all especially for customers who want to buy from us. Asides selling candles, we also sell related candle making materials, as well such as candle fragrances, candle wax and eBooks for those who want to try making these candles at home.

Due to having some of the finest chemists, we are constantly developing scents that are sometimes rare and most times not even found in the marketplace. We know that this fact gives us a competitive advantage over most of our competitors not only in Oklahoma but around the United States as a whole.

One strong area of investment is in our staff, which we constantly train and re-train and ensure that they are in sync with our vision, making a business plan template, mission statement as well as the corporate culture on which we are founded on.

We also have one of the best welfare packages for our staff, as we know that treating the internal customers employees right will lead to not only higher productivity, but also a healthy bottom line for the company as well. We are however not limited locally, as some of our clientele are overseas. We have enough experience in the business to know that ensuring that our customers stay satisfied, responding quickly to their enquiries and complaints as well making a business plan template having an excellent customer service overall, have led to the increased retention rate of most of our customers.

We know how important repeated customers are to a business, and so we try to make their experience with us as satisfactory as possible. Theresa has over 10 years in the industry and started the candle making business immediately after she finished her first degree. We know that there are 10, different candle scents and we are proud making a business plan template say we hold a significant number of the total scents produced in the United States. We are constantly looking to improve our scent line.

We are a legal business that is established to make profit; however, we also believe in having multiple sources of income as a company and in line with this, we not only making a business plan template candles but also supply candle making fragrances that are concocted by our finest professionals in the field.

We also offer training and consultancy services as well. Our vision is to be the leading brand in the United States of America, and be amongst the top five brands globally. Our mission is to build a candle making business that will not only meet the needs of our making a business plan template but intrigue potential customers as well, making a business plan template. We do not only want to sell our franchise here in the United States alone, but also globally as well.

We know how important having the right business structure is, and so we are constantly working on how best the business can evolve and grow at a steady pace without imploding. One thing we aim at is to ensure that we hire right always by getting the right fit for each role and position. This therefore means that we are serious on not compromising in getting and working with the best because we know how important the right employees are to the vision and goals of the business.

We also know how important their welfare is and are constantly seeking for reasonable ways to making a business plan template that our employees work not only in a conducive atmosphere but are happy enough to seek the growth of the company as well.

Our several years of making a business plan template in the field together with input from a reputable business consultant has led to our ability to be able to develop an effective SWOT analysis that will help us in running the business better, making a business plan template. The SWOT analysis helped greatly in ensuring that we looked at the business critically as it relates to market and the industry at large.

The SWOT analysis is a profiling of our strengths, weaknesses, available opportunities and threats that is likely to either help or affect us negatively during the course of running our business in Tulsa City, Oklahoma and in the United States of America as a whole. Our greatest strength lies in the fact that we offer all shapes and sizes, as well as several flavors of candles to our vast customers.

We are also not resting on our oars as we keep developing fragrances that are rare finds which would endear us to our customers, especially those who are bored of regular fragrances. Another huge strength of ours is in the vast experience of the Chief Executive Officer, who has more than ten years experience in this industry. Making a business plan template, the fact that our franchises are of high quality, coupled with our descriptive eBooks and consultancy services, also adds largely to our strengths.

Our weakness for now lies in the fact that we would have to operate regionally at first, thereby majorly limiting our business for the first few months of operations to a certain section of the United States of America, making a business plan template. There are various opportunities that abound in the candle making industry and the fact that we are continually working on bringing forth new fragrances with some of our productions offers limitless opportunities for us as a company, making a business plan template.

The candle market is one where there will always be demands, albeit these demands will depend on the availability of disposable per capita income of the consumers which in turns depends on the health of the economy. Most consumers demand for scented candles has caused companies to constantly research on fragrances that will keep customers intrigued.

Another trend is in looking at all the available avenues by which the candles can reach the customers in a way that is convenient for both the customer and the company. Candle sales these days are not limited to specialty stores and discount stores but can also be sold at fairs and outdoor events. Finally, technology has a huge role to play into how products are becoming visible to consumers.

The internet especially has created an avenue for businesses to not only reach out to their loyal clients but also to potential clients as making a business plan template. Almost everybody — from young teens to adults — love candles and have purchased it at one time or the other. However, according to studies, a large percentage of those that purchase these candles are women.

This is why most of our strategies revolve around the female folks, especially in Tulsa and in all locations we are looking to get our products to. Due to the above statistic from a reliable source in addition to our market research, making a business plan template, we have been able to draft the right strategies for our target market.

We would be engaging in a retail and wholesale distribution to the following groups of people and organizations. Any business that is focused on making profit and intends to be amongst the leading brands in the United States of America will do well to draft strategies that will give it a competitive advantage over other same businesses in the industry.

One of the first competitive advantages we intend to have over other businesses is in offering excellent customer services that will remain unrivalled; this can be achieved by employing the required professionals to handle this aspect.

We know that an excellent customer service is one of the most effective ways of retaining our clients. We also have the finest professionals as regards mixing of different scents to produce unique flavors that will intrigue the sense of our customers. We also intend to ensure that making a business plan template employees work in a conducive environment where they can grow themselves and making a business plan template productivity for the company as well. We intend to create the best welfare packages for our employees and also share part of our profit with our management staff.

Finally, we would ensure that our official website is responsive and user-friendly to clients who would prefer to purchase our products online, making a business plan template.

Due to a thorough research, we have been able to come up with an almost accurate sales forecast for our candles. Our strategies have ensured that we are in the position to become a leading brand in Tulsa City and the immediate environs.

We are not only expecting to make massive profits in our first three months of business but also intend to expand within a year of operation. Our chances in this industry are based on pure facts and a critical examination of our strengths and what we intend to offer this market. Our sales projections are based on information that were gathered during the course of carrying out a through feasibility study.

We also took into considerations start-ups in Oklahoma especially those in Tulsa City. B: The above projection is based on the fact that all factors, such as a positive growth in the economy and lack of serious competitors — remain unchanged. This means that projections might become higher or lower due to changes at any time.

Marketing is one very important aspect of any business as it serves a dual purpose in generating income for the business as well as creating publicity for the business. It is very vital that marketing strategies are drafted and fine tuned so that they can bring in the desired results.

In view of this, we conducted a thorough research that will ensure that we have the best strategies in place to generate income for the business, making a business plan template. People get attracted to visuals and so this means that we would strive to put more effort in our visuals to ensure that we achieve attract customers to our brand.

Candles are used for different purposes but mostly to calm people, and so we would ensure that our video adverts and images used are ones that will project serenity to potential customers.

Because we know how important the business of marketing is, making a business plan template, we have hired a business consultant that will help put our strategies in a better perspective, whilst also including important strategies that are deemed suitable for our kind of business.

Our business consultant is an expert in this industry and his expertise would be making a business plan template the benefit of the company. Our marketing and sales team will be carefully chosen as they will not only reflect the image of the company but must also understand what the goals of the company are and how it would best fit into their marketing and sales strategies, making a business plan template. Engaging in publicity is very important as it helps increases awareness for the product and in extension the company itself.

There are various means by which a company can choose to publicize its products and services. However, we know how important it is for our brand to be accepted in Tulsa City — Oklahoma, which would then help boost our profile when expanding to other locations.

 

Business Plan Template - Create a Free Business Plan

 

making a business plan template

 

A Sample Candle Making Business Plan Template. Business Overview; Candle sales in the United States have improved especially as there is an increasing variety of colored and scented candles, with 7 out of 10 households in the United States making use of candles. More and more people are demanding for candles as an addition to their homes for. A well thought out plan also helps you to step-back and think objectively about the key elements of your business venture and informs your decision-making on a regular basis. SBA's Business Plan Tool provides you with a step-by-step guide to help you get started. A bead making business is an exciting venture you should take seriously. You can start this business part-time or you can do it full time. But no matter how you choose to start this business, it’s advisable you start by putting together a business plan.