Business Plan

Executive Summary

            The business plan is being formed in order to allow the company to experience less trouble in terms with making things better than before. The need is just to go for following the respective steps that would form a better business plan. It is a must to check that thing are going on in the right manner. This would greatly demand in seeing to it that situations should also be made under control. Business growth should not be compromised at any cost. This would make things highly affirmative and approving as well.

            The vision of the person who is looking forward to start up a new business is to open a shop in which manufacturing of furniture is done. The name of the organization shall be; Steve Furniture Works and the discussion is in relation to the same. It shall be done in detail in the upcoming paragraphs. It is expected that the business shall run properly as there is an expectation of very high level of demand for the furniture.

            Executive summary is being dissected into various heads that are company description, product and service so offered, market analysis, strategy and implementation, management team and at last financial investigation. All these altogether are known to be the essentials of the business plan. It would help the company to get into touch with respective moves. The above discussed components are said to be important and momentous in terms of devising a better and workable business. None of these should be avoided or left as it can affect the following plan.

            Company description details about its name or a type of business run by it. Along with this, it talks about the way situations are being handled and made going and continuing. Emphasis need to be more upon handling things in such a way that it provides the best possible advantage to the business itself. Product and services discourses about the things that are offered to customers. Marketing analysis as the name itself suggests is in relation with researching the existing market conditions. Strategy and implementation is in relation with forming a better strategy and implementing the plan. Management team comprises of the employees or the workforce that are running the business. At last, financial analysis revolves around checking it upon that thing is going on smoothly and relentlessly. The purpose is to trail behind all these components. This would no doubt offer better results and outcomes to the business as well. The business plan should be moved on all these aspects for the sake of managing things accordingly.

Key to Success

            The key to success is considered to be hopeful and affirmative enough. This would also ensure that things are likely to be understood upon at its best possible manner. It is a must to go for checking it upon that the things need to be considered upon with due efficacy. Steve Furniture Works is said to be a company that used to design and create furniture for official and domestic purposes. There stays a great need to check it upon that situation are likely to be managed upon at its best possible manner. The key to success are considered to be effective enough just as to gain better insight regarding business moves. The aim of the business is to go on smoothly and flourishingly. It is being identified upon that the organization should go for understanding running and prevailing conditions. This would also ensure that things are moving on as per planned.

Market

            The market potential should also be acknowledged upon at its best possible manner. Market potential appears to be lucrative from the viewpoint of seeing to it that things turn out to be great going. This would also ensure that proper check can also be formed upon running circumstances. Market conditions are said to be helpful enough just as to gain better insight about company’s long-lasting growth and progression. It is being identified upon that the company would receive far better response and reaction from the customer’s part.

Mission

            The mission of the company is to render the elite care to the end-users. The need of the hour states that the furniture so made is promising and add great value to the premises. It is a must to handle customer’s expectations at its best possible manner. This would also ensure that things are turning out to be helpful and sympathetic as well.

Objective

            The objectives of the company are to receive unprecedented growth and progression. There stays a great need to go for forming familiarity with the customer’s wishes and desires. It is highly required that the company should go for receiving better growth prospects. With this, it can also be claimed that the market share or growth can also be made great going.

Company Overview and Ownership

Steve Furniture Works is the name of the company. It is being established in US. The current business is related to the business of manufacturing of wooden furniture for offices and also for households. Various kinds of furniture shall be manufactured by the proposed business. The furniture is a very useful commodity for all the people around the world. It is used in offices and also at the homes by the people. The company shall provide all kinds of furniture for people around the area. Business so explained above is in relation with manufacturing of wooden furniture. Actually, it got established with the aim of giving an elegant and magnificent look to the offices and houses as well (Kleiner & Abrams, 2003).

The designs so developed are made possible by having in mind requirements and demands of the respective people. At the same time, it is important enough to accommodate in accordance with running conditions. In the furniture business, there are a lot more sections that should be considered upon accordingly. At first, furniture so made upon is being divided into official and household purpose. On that basis only, the work needs to be executed upon. Wood plays an important role, and that is why it should be of fine quality. Designs so offered should be unique and exceptional. Moreover, the aim is to make customers highly pleased and satisfied so as to draw in their attention at its best.

Company greatly focuses upon making dreams of people come true. For this, all the best possible efforts are induced upon. It is a must to check it upon that thing should move on as per people’s wishes and desires. Actually, the emphasis needs to be more upon adopting far better moves that could shore up the business to accelerate at its best. This would turn out to be effective enough from the viewpoint of seeing to it that situations are under control and great going. The business growth should be the solo motto. It can be made growing by taking into account one or the other aspects. Furniture business should be made great with the help of making use of well-versed services. It is a must to check it upon that business should also advance as per running trends and fashion. The customers greatly demands in elegant and great-looking furniture that could add four moons to their place. Customers should also be surveyed as to what are their wishes and desires are in relation to furniture.

Products and Services Description

The products in relation to the current business are wooden furniture. The furniture so manufactured includes office tables, beds, sofas, dining table, dressing tables and computer tables etc. In this way, it can be said that the business shall serve the needs of many consumers around the country. There is an expectation that the people shall not find any problems in relation to the purchase of furniture with the organization.

Products so mentioned above are being contrived for meeting customer’s requirements. It is a must to have furniture in the home just as to make it look good and beautiful. By having some furniture in the house, it can be made to be an appropriate place to live in. At the same time, the quality of the wood should be remarkable such that the finished product appears to be brawny and tough enough. Quality should not be compromised at any cost. Product serves to be the main medium between customer and producer. It should not be affected and that is why product should be superior. It should go for matching customer’s needs and necessities (Bly, 2010).

It can also be understood in a way that business growth should not be hindered rather should move on incessantly. For the purpose of gaining customer’s attention, the product so offered need to be well-versed from all aspects. It is highly important to go for reviewing product’s superiority. Furnishing is gaining great growth in running scenario. The need is just to accommodate in accordance with prevailing fashion. It is considered to be a matter of beautification and basic need as well. On the grounds of customers requirements, furnishing is being done for the customers.

It is a must to check it upon that the furniture designs should result in making things far better and up to the mark. In today’s time, customers feel to possess better and quality furnishing options that could make their house or office look more beautiful and appealing. It is equally imperative to check it upon that thing is moving on a right track. This would turn out to be good enough in allowing the business to grow and expand at a rapid speed.

Marketing and Competitive Analysis

In the current case, the size of the market is very large as there are a lot of people who require the furniture for various kinds of purposes. The market segment includes the people of all age groups. The market shall have people from households and also the people who are studying at schools are working from their homes. The market also includes people from all income groups as the furniture can be of high or low price as well (Cooper, Hiebing & Hiebing, 2004).

The market appears to be great in terms with supporting the business to expand exceedingly. It is a must to research the market so as to make the business positively affected. With this, it is for sure that proper pace can also be developed upon running aspects and that too at its best possible degree. Furniture business should be such that meets the customer’s aspirations and that too at its best. It is a must to go for reviewing things in an effective manner. Market surveying would turn out to be a great going deal for a business.

Market analysis as the name itself suggests is in relation to gaining best possible growth and that too at an exceeding rate. There is a great need to check it upon that thing should turn out to be aspiring and well-versed. There is a great need to go for exploring better market that fits best in allowing the business to flourish and thrive with due smoothness. Furniture business should be made advanced with the help of understanding running circumstances accordingly.

It is a must to go for experiencing good growth and that too at its best possible extent. All what is demanded is to accommodate in accordance with running conditions and also to make customers highly pleased and contended as well. Market analysis so performed would surely result in shoring up the business to cope up with running transitions. It is a must to go for identifying things in a great possible manner. The understanding should also be formed with best possible approaches. This would surely turn out to be highly effectual and good enough as far as evolution and progress is concerned. With this, furnishing business would touch heights of success as well (Deblekak, 2000). The competitive analysis is likely to be made out just as to mark better growth and progression. Market conditions need to be managed upon at its best possible manner. The competitive areas are likely to be determined so as to help the company to move on flourishingly.

Experience Leadership

            The leadership practices should also be performed at its best possible manner. It would also ensure that things are going on smoothly and effectively. There stays a great need to check it upon that situation need to be tackled upon with proper potential. Leadership would allow the company to go for seeing to it that business activities can be managed upon efficaciously. This would also ensure that things are moving on as per planned and on a proper track.

Operating Strategies

            The operating strategies are likely to be made out effectively. It is being identified upon that the strategies so adopted would provide with lucrative returns. The need of the hour states that the operative capacities would provide with better returns and productivity. This would also ensure that the company would demand in better growth and progression.

Critical Risk

            The critical risk associated with the company is related with change in preferences and choices. It is being identified upon that the changing scenario would call for having proper check and control upon one or the other moves. It is very much essential to form a better understanding with existing conditions. With this, it is for sure that things can be managed upon effectively.

Offering

            The offering should be taken into consideration at its best. With this, it is ascertain that the business growth and progression would be long-ranging. It is a must to see to it that the best possible amenities and facilities should be rendered to the target audience. It would also ensure that situations can be managed upon at an active manner.

                                                Strategy and Implementation

In relation to a particular market plan, it is very important that a very effective strategy is used by the organization. The strategy adopted by the organization should be of such kind, which could help the current organization to grow in a proper manner. To implement this business plan, use of marketing and advertising techniques and methods need be taken into consideration. The organization shall employ three carpenters, one accountant and two salesmen to take care of a business.

            In the present case, marketing and distribution activities shall be done by way of providing the advertisements in relation to the business. The advertisements shall be provided in newspaper, on radio, television and also by way of personal marketing. All the above will help the organization in ensuring better marketing of the business. Marketing the business will also work in favor of an organization to attract customers and to ensure that there is an increase in sales.

            The business of furniture needs to be implemented, and it can be backed up by plotting a better idea that could offer great returns. It is a must to check it upon that situations need to be handled upon at an effective manner. This would surely turn out to be effectual enough in order to experience better growth and progression. With this, it can also be understood upon that business can gain and welcome lucrative results. Business plan so developed should be followed upon accordingly. At the same time, management team should also go for forming better coalitions with running things.

            The need also states that the implementation part should be great enough in making better growth and progression. With this, it can also be understood upon that things are moving on a right track and would offer better proceeds. The main people related to the business should put in all the best possible efforts just as to grow and expand at a rapid pace. This would turn out to be great going from the point of marking the business growth accordingly. The main aim is just to go for implementing the things in a good way. This would surely result in seeing to it that things prove to be highly favorable and approving enough. In addition, the budgets so formed should also be traced so as to figure whether things are going on as per planned or not.

Management Team

            In relation to a business organization, a management team is very important. It is necessary to ensure that an appropriate organizational structure is used by the organization at all times. In the present situation, horizontal organizational structure shall be used by the organization. In relation to the same, the organization shall have the owner as the main authority who shall take care of the overall business (McKeever, 2010).

            In addition to the owner, salesman, accountant and the carpenter are also there in the organization. All the three aforesaid people shall be performing the activities as per the orders of the owner of the organization. In this way, it can be said that in the current business. There shall be only one person who will be having all the authorities, and the other people shall be his employees, who will be following his orders at all times in order to perform the activities in a proper manner. In this way, there is centralization of power in the case of the current business organization.

            The management team covers up key persons that are linked with the business. It is important enough to go for receiving better results in order to make things fruitful enough. Management team is made up of carpenters, one accountant and two salesmen. All these are headed by a senior people that possess a watch upon them. It is important enough to go for receiving far better results. It can also be understood in a way that things should turn out to be great going, just to manage them in the most appropriate basis.

            The organization is being supported by the important people that are liable for handling the respective accountabilities. It is equally important to manage things in such a way that situations are turned out to be great going and also progressive. Management team should go for seeing to it that business is supported by planning out better aspects that could allow the firm to raise growth proceeds at an active mode. It is a must to possess proper watch upon running moves. In addition, the people so involved should feel the importance of business plan and they need to strive hard for making it executed in a better manner (Kennedy, 2000).

            The need of the hour states that no space should be left in terms with business progression and fruition. It should check it upon that growth aspect so planned out is offering lucrative results to the company on the whole. It is a must to have a look upon running aspects as well. The main aim is to work as a team just as to deal with the respective people in an effectual manner. All this results in receiving better growth and progression and help the company to attain a better position in the market.

Financial Analysis

            The financial analysis holds the most important part in the business plan. Business plan is being supported by financial aid only. It can only be made possible by carrying upon fund management. Financial analysis so made out would allow the company to go for making things well-versed and understandable. It is a must to check it upon that thing need to be handled at its best. Financial planning should be done in such a way that it allows the firm to not to face any problem in future perspective.

            This would also make the business plan productive enough. Moreover, the resultant so arrived would also offer great results to the company and that too at its best. There stands a great need to go for making business planning effectual enough such that it retrieves great outcomes. With this, it is for sure that the company would experience great opening in the market. All what is required is to go for managing things at an effective mode. This would surely turn out to be a great and grand success for the company named Steve Furniture Works (Luther, 2011).

            It is a must to pay proper attention towards financial examination just as to receive far better growth and progression. Business plan so designed should not be affected at any cost. This would rather go for checking it upon that situation is moving on a right platform. There stays a great need to make optimum use of funds so obtained. The company will invest $100,000 as an initial capital investment. Below is the estimated project income and expense statement for an organization for the next 3 years.

            The table discussed above talks about the expenses that are related with expenditures that are made out by the firm. All of these are respective expenditures that need to be made upon in terms with running the business. But, the aim is to make better use of the funds so allocated on all these sections. Each and every section holds great significance from the perspective of running the business efficaciously. Financial analysis should be made out for the sake of checking it upon that the firm is earning a good income and returns (Westwood, 2002).

            The expenditures so listed above should be managed upon at the best possible extent. Business plan so contrived for the company would surely result in checking it upon that things would surely support the organization to gain better results. It is a must to go for receiving a better place in the current scenario. Financial analysis is made out just as to get acknowledged with budgeted and actual position. This would also result in adopting some better moves that could allow the business to move on smoothly and unremittingly. Business should develop a regular habit so as to conduct financial review of the running practices. On that ground, corrective actions should also be employed if required. All the steps discussed above should be used for retrieving better and productive results and to allow the business to carry upon production practices continuously as well. At last, it can be concluded that the business plan so developed would surely permit the company to realize better growth and progression. With this, it is for sure that things are moving on a right track.