Feel free to revise this job description to meet your specific job duties and job requirements. Business Development Manager Job Responsibilities: Builds market position by locating, developing, defining, negotiating, and closing business relationships.
Town B Although Town B looks more competitive 10 competitors vs. The definition of a potential customer will depend on your type of business. For example if you are opening a small shop selling office furniture then your market will be all the companies within your delivery range.
As in the example above it is likely that most companies would have only one person in charge of purchasing furniture hence you wouldn't take the size of these businesses in consideration when assessing the number of potential customers. You would however factor it when assessing the value of the market.
Market value Estimating the market value is often more difficult than assessing the number of potential customers. The first thing to do is to see if the figure is publicly available as either published by a consultancy firm or by a state body.
It is very likely that you will find at least a number on a national level.
If not then you can either buy some market research or try to estimate it yourself. Methods for building an estimate There are 2 methods that can be used to build estimates: The bottom up approach consist in building a global number starting with unitary values.
In our case the number of potential clients multiplied by an average transaction value. Let's keep our office furniture example and try to estimate the value of the 'desk' segment. We would first factor in the size of the businesses in our delivery range in order to come up with the size of the desks park.
Then we would try to estimate the renewal rate of the park to get the volume of annual transactions. Finally, we would apply an average price to the annual volume of transactions to get to the estimated market value.
Here is a summary of the steps including where to find the information: You can get the number and size of businesses in your delivery area from the national statistics. Your accountant should be able to give you the useful life of a desk but you should know it since it is your market!
You can compare the desk prices of other furniture stores in your area. As a side note here: That was the bottom up approach, now let's look into the top down approach. The top down approach consist in starting with a global number and reducing it pro-rata.
Once again the number of employees would only be a rough proxy given all business don't have the same furniture requirements. When coming up with an estimate yourself it is always a good practice to test both the bottom up and top down approaches and to compare the results. If the numbers are too far away then you probably missed something or used the wrong proxy.
Once you have estimated the market size you need to explain to your reader which segment s of the market you view as your target market. Target Market The target market is the type of customers you target within the market. For example if you are selling jewellery you can either be a generalist or decide to focus on the high end or the lower end of the market.
This section is relevant when your market has clear segments with different drivers of demand.
In my example of jewels, value for money would be one of the drivers of the lower end market whereas exclusivity and prestige would drive the high end. Now it is time to focus on the more qualitative side of the market analysis by looking at what drives the demand.
Market Need This section is very important as it is where you show your potential investor that you have an intimate knowledge of your market. You know why they buy!
Here you need to get into the details of the drivers of demand for your product or services.Business Plan Section 4: Products and Services This is the part of your business plan where you will describe the specific products or services you’re going to offer.
You’ll fully explain the concept for your business, along with all aspects of purchasing, manufacturing, packaging, and distribution. A Sample Beauty Salon & Day Spa Business Plan Template FREE Spa Business Overview In the United States of America there is always the need to work so as take care of the basic needs of life.
Jan 30, · Whether you’re starting or growing your business, you need a business plan. Your plan will provide the roadmap to achieve the success you want. Products and Services Sylvan Spa offers a complete range of wellness-focused massage services, body treatments, facials, salon services, yoga, nutritional counseling and anti-aging health assessment programs.
Products are selected for the healthful ingredients they offer. The product and services section of your business plan is more than just a list of what your business is going to provide.
Especially if you plan to use your business plan to get funding or find partners, your products, and services section needs to showcase the quality, value, and benefits your business offers. Business Plan Pro Sample Confidentiality Agreement The undersigned reader acknowledges that the information provided by _____ in this business plan is confidential;.