BUSINESS PLAN

 

Business Plan

 

Giulia Seabra
Southern States University
BUS 480
08/13/2022

 

 

 

 

 

Business Plan
Question A
Who will conduct the selling for your business, and have they been professionally trained to sell?
The business will use personnel to sell the products to the public, and the personnel will have received the best training to handle the clients.
What selling methods will they employ?
The personnel will employ the ideology of training to deliver the best to the people.
Will you use point-of-sale material – leaflets, brochures, or videos, for example?
I will use point-sale materials such as brochures and leaflets to ensure that the people can easily understand the education.
Who will manage, monitor, and control your sales effort, and how will they do so?
The product tracking will be done by properly packaging the products when the customers buy through the identified courier.
Describe the selling process, leading from an unaware prospect to a converted client, covering identification of decision makers, overcoming objections, gaining agreement, etc.
The selling process will commence with identifying suitable places where the customers will not struggle. The second ideology for sales will include the identification of the distribution channel where there will be no intermediaries. The operation risks will be identified to ensure they are sorted out during the operation. The other idea is contacting the clients and the last part is after-sales services offered to the clients.
What procedures do you have for handling customer complaints?
Various communication channels within the organization enable communication with the customers. The various communication channels will enable the customers to choose the best communication channel depending on the urgency of the complaints.
What incentives exist for people to meet sales targets, and how will you motivate them to do so?
The products will have the best quality, motivating the clients to purchase from the business. Additionally, there will be frequent communication to notify the client of any dispatch to encourage them to purchase from us.
Who will direct, monitor and control your sales effort and what experience/skills do they have?
The online group will monitor the sales, who will have great skills in dealing with the products and identifying the changes on the products.
How long is the process from becoming aware of your product or service to making the buying decision, receiving the product or service and finally paying for it? This will have an important bearing on your cash flow and initial sales forecast.
The creation of awareness will be easily conducted through the online team to ensure that the people can easily access the products.
What sales volume and activity targets, such as calls per day, etc, have you set for each salesperson or selling method?
I have set excellent sales volume and activity targets to ensure that most people can access products on time.
What processes will you use to ensure you are paid on time?
I will ensure that all the products are delivered on time and that most activities are complete before the end of the payment period.
QUESTION B
How much of your product or service do you plan to produce in-house?
I am planning to produce high amounts of the products to ensure that most people can access the variety of the products.
If you are making a product, describe the production process; also explain how your principal competitors go about manufacturing.
The production process will involve identifying the resources required for the production and getting the best labor to undertake the process. The required technology will also be collected to ensure that production output is achieved.
What plant and equipment will you need, what can it do, how much will it cost and where will you get it from?
The plants’ aid will be used in producing the arousal sexual desire and other plants associated with producing sexual materials. The plants are good at producing mass products at a time and will enable the business to grow fast. The plant will be accessible from the market, and thus, it may cost $2450.
What bought-in materials and/or services will you need, where will you buy them from, and how much will they cost?
The bought-in materials and services we will need will include laptops and other accessories and will be bought from the local markets to ensure that the cost of the products is reduced.
How will you equip your office? I will equip the office with the best technological materials to ensure that the sales and production tracking is appropriately conducted. The best expertise will be employed to run the office and ensure that the people are willing to access the customers.
QUESTION C
Does your venture require a licence to operate?
The venture requires a licence because it must pay the nation’s taxes.
Will you be holding data on customers, suppliers, and employees, and if so, what are the implications of the Data Protection Act on your plans?
I will hold the data of the customers and suppliers to ensure that I can follow up on them when necessary. The idea implies that the data protection Act should guide the business to ensure that the data from the clients are closely protected.
Does your proposed advertising, both print, and website, comply with the various advertising regulations?
The website-based advertising rooted in social media advertising is one of the best and always complies with the advertising regulations.
How will you handle refunds?
When the refunds happen within the organization, I will be accepting the refunds to ensure that I protect the picture of the business.
Will you have to register for VAT, or could it be to your advantage to do so?
I will have to register for VAT to ensure that the chances of the business being closed down because of tax evasion is worked out.
If you have to register for VAT, which is the best scheme for you?
The best scheme for me to register for will be the VAT Annual Accounting Scheme to ensure that I will be handing over the taxes by the end of the year.
How much tax do you expect to have to pay?
I intend to ensure that I pay the tax that correlates with the products I operate with. The VAT calculation will be based on the products I am operating with.
Will you have to collect and pay tax for any employees?
The human resource manager within the business will be mandated to pay any employees’ taxes.
How much NI will you be responsible for paying?
I will have to pay national insurance based on the amount that I gain from the business. If the weekly payment is $242 to $967, I will be mandated to pay 13.25%.
Have you incorporated the cost implications of these operating regulations in your financial forecasts?
I have incorporated the cost implications of the operating regulations in the financial forecasts to ensure that most of the projected challenges are taken care of. It is always very important to ensure that the financial forecasts are taken with great care to eliminate failure cases.