Business Plan: ‘Overview, Product/Service Plan, Marketing Plan, Management Plan’ Sections
Attached is the "Business Plan Project - Template" which contains detailed information on what should be provided in the Business Plan. I need to complete the following sections;
Overview and Product/Service Plan, Marketing Plan, Management Plan
The company names is Thompson Flats Sweets. This is will to be a home based company and I already own all the equipment. Below is information about the mission and vision. Please let me know if you need anything else.
1. In one sentence, please describe the vision of your company. The vision should be the binding force of your company that motivates people in all areas to build a company to last.
Mission Statement: Thompson Flats Sweets aims to provide delicious homemade baked good at a competitive price to our community.
Vision Statement: Our vision is to provide delicious homemade baked good that keeps customers coming back for more.
2. What is the philosophy behind your business? What strategies will you employ in order to achieve the vision of the company?
Creating a community of warmth and happiness, where everyone is kind.
3. What are the specific goals and objectives of the company?
The goal of Thompson Flats Sweets is to have fun and grow.
Sell a higher quality products than competitors at the farms market and take advantage of local festivals that will happen in my county.
4. What benefits will the company bring to the customers, employees and the society?
Customer and Employee loyalty

Company Overview

This section explains the type of company, such as manufacturing, retail, or service.  The overview also provides background information on the company if it already exists, and describes the proposed form of organization (i.e. sole proprietorship, partnership, or corporation).

1. What is the company name and where is it located? Where is it chartered?

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1. Briefly describe the history of the company. When and where the company was founded and what has been achieved up to date? What changes have been made in structure and/or ownership? What stage of development is the company in? What are its objectives?

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1. What is the current situation of the industry? What is the projected development of the industry?

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1. What is the nature of the business? What is its primary product or service? Who are the customers? What distinguishes its products from those of the competitors?

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1. What is the legal form of the organization, sole proprietorship, partnership, or corporation? Does the firm intend to become a publicly traded company or an acquisition candidate?

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Marketing Plan

This section describes the firm’s customers and what type of competition it will face, outlines the marketing strategy, and specifies the firm’s competitive edge. This section should offer the following descriptions: (1) analysis of target market and profile of target customers, (2) methods of identifying and attracting customers, (3) selling approach, type of sales force, and distribution channels, (4) types of sales promotions and advertising, and (5) credit and pricing policies.

Market Analysis

1. Please describe the customer profile in the target market. If you want to use a segmentation strategy, also describe what segments you want to serve. What variables will you use to identify segments? What geographical area will you serve? Also describe the price elasticity scenario of your products.

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1. What benefits would your products or services provide to the potential customers? Refer to the product and services section of the business plan.

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1. What are the possible risk factors of the market environment? Consider both economic and environmental risk factors.

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1. What kind of forecasting techniques will you use? What sources of forecasting assistance have you consulted? What are the forecasting results?

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The Competition

1. What is the current industry situation and trends?

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1. Who are your competitors? What are their strengths and weaknesses? What distinguishes your products from theirs?

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1. Who might become your competitors in the future? How will you maintain and improve your status in the market?

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Marketing Strategy

1. The total product/service. How will you transform your product or service ideas into a total product and service package? Explain the name of your products and services and the reason for their selection..  What have you done in order to protect the legal and proprietary rights of your products and services? What will the package of the products look like? What kinds of warranties and repair policies will be provided?

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1. The promotional plan. What promotional strategies will be used to communicate the relevant information to the target markets? Will you use sales people or advertisement? What special selling skills will be required? What will be the compensation scheme for your sales force? How will you decide your promotion budget? What advertising media or agencies are you going to use? Do you plan to attend any trade shows?

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1. The distribution plan. What are the most effective distribution channels to deliver the products or services to the customers? What intermediaries are you going to use and how will you establish relationship with them? If you were going to establish your own retail stores, what would be the layout and configuration? What is your logistics plan?

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1. The pricing plan. What is your pricing strategy? Refer to the book for different pricing strategies such as penetration pricing, skimming pricing, follow-the-leader pricing and so on. How would you justify it? What are the cost factors that you need to consider? How could the operation management and marketing management communicate effectively? Present your break-even analysis for different pricing options. What are the credit policies? How do you plan to manage your credit application process and accounts receivable?

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Management Plan

This section identifies the key players—active investors, management team, and directors—citing the experience and competence they possess. This section should offer the following descriptions: management team, outside investors and/or directors and their qualifications, outside resource people and their qualifications, and plans for recruiting and training employees.

1. Who are the members of the management team? What are the skills, education, and experience of each member? What other key managers do you plan to recruit?

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1. Who are the active investors and the directors of the company? What are their qualifications?

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1. Do you plan to contract outside professionals to help with certain functions? If so, please also describe their qualifications.

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1. What are the general educational and professional backgrounds of your employees? What are the future recruitment plans?

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1. What are the compensation and benefit plans for the board members, managers and employees?

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1. What style of management will be used? What is the decision making process in the company? What mechanisms are in place for effective communications between managers and employees? If possible, also present a simple organization chart.

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1. How will the personnel be motivated? How will creativity be encouraged? How will commitment and loyalty be developed?

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1. What are the employee retention and training programs? Who is responsible for job description and employee evaluation?

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1. What strategic alliances are in place and what do you plan to establish in the future? What are the forms and nature of these alliances? What are the responsibilities and benefits of different parties? What are the exit strategies?

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