Business Planning What are the Benefits? There are two main purposes for writing that plan. There is an additional benefit if you do business internationally.
Topics of importance under the operating plan include the following items: The space required by your planned business venture; The proximity of your planned business venture; The method of acquiring your facility; The costs to maintain your facility; and The layout of your planned facility Lets look at each of the above items separately, beginning with the "Space Required by Your Planned Business Venture".
Some businesses can be run from a home office while other businesses requiresquare feet of space. You event location business plan have to determine how many square feet your business requires to operate efficiently.
If you plan to operate from your home, how much square footage will you need for office space, storage space, production facility, and so on? Sometimes entrepreneurs begin from their homes, only to expand as demand for their product increases.
If your business calls for a facility outside of the home, you will also need to calculate your square footage requirements for office, production, storage, displays, etc.
Will you need square feet or possibly 5, square feet of space? Then discuss how your selected business location meets those requirements. It is a good idea to discuss whether or not the facility can be expanded or renovated in the future.
Proximity of Your Planned Business Venture After you have discussed your facility requirements, it is time to discuss in the operating plan the proximity of your planned business venture.
Here you will discuss such factors as the actual address of the facility, the closeness of competitors, suppliers, and customers, the proximity to landmarks for possible marketing considerationsbanks, general supplies if required or other issues that may be of importance to your business.
The idea is to show the investor or reader of the business plan that the location you have chosen has augmented benefits that will compliment your business.
Another benefit or selling point you may discuss in the operating plan is known as the accessibility benefit. It refers to the degree at which a company's location is accessible to the labour force, delivery vehicles and customers. Does your planned location have residents who you can hire on as staff?
Labour force accessibility or availability is an extremely critical factor to consider when selecting a location. If a business can not acquire a competent, skilled and motivated staff, it may not accomplish the goals and objectives it sets out to achieve. If your planned business location can accommodate your staffing requirements, be sure to briefly indicate it under this section.
Is your planned location accessible to delivery vehicles? Accessibility to delivery of supplies, raw materials, and equipment is important and can play a crucial role in the success of a business venture. Image selecting a location where a company's required equipment can not pass through a door.
Or image selecting a location where raw materials products must be carried eight blocks, down a back alley, though a hall, and up five flights of stairs to arrive at your place of business.
The third type of accessibility is known as customer's accessibility. How easily can customers access your selected location? Is the selected location easy to find?
Does your business need high walk by traffic?
Service and retail businesses generally require a close proximity to customers, while manufacturing and processing plants must generally be close to their suppliers and distribution networks.
Does the nature of your business require you to be close to your customers, suppliers or distribution networks? If customer accessibility is important to your type of business, be sure to say so and indicate how your planned location caters to this need. In closing, the proximity of your planned business venture should indicate the actual address of your facility, the closeness of competitors, suppliers, landmarks, banks, general supplies or other issues that may be of importance to your business.
In addition, be sure to discuss how accessible your planned location is to buyers, your labour force requirements, transportation system and delivery vehicles.
Why have you chosen this acquisition method? What are the benefits of leasing versus purchasing or building? How much will the facility cost to buy, built or rent.
If you purchase or build the facility, how will it be financed. If you plan to lease, be sure to fully discuss your lease contract or lease agreement.Hello. I live in NY and planning to start a venue business. I guess my question is what kind of permits and licenses will i need in order to be able to start renting the venue for people who want to use it for social events such as, birthday, wedding, etc.
Sandpoint Events Center’s unique auditorium and amenities have everything you need for a beautiful wedding experience or a successful event. If you’d like to look over the calendar to plan for your special event, click to view the calendar or contact us to see what our availability is around your Sandpoint Events Center Business.
Eventbrite - Keller Williams Utah Region presents Salt Lake Business Planning Clinic - Tuesday, November 6, at Salt Lake Board of Realtors - Auditorium, Sandy, UT. Find event . Is your proposed location appropriate for what you plan to do there?
Is Location Important for the Success of Your Business? For some businesses, the classic advice "location, location, location" is right on the mark -- location can mean the difference between feast or famine.
Enterprise Hub Presents: Planning for Success - Business Planning Course. This one day course is the starting point for thinking about a business plan in a friendly environment, with like-minded women.
FACILITY AND BUSINESS LOCATION. The operating plan of your business plan should include a discussion on your planned facility and the business location. Topics of importance under the operating plan include the following items: The space required by your planned business venture;.