Preparing a quilt shop business plan is no different than preparing a similar plan for other types of business.
It is basically a plan covering the major elements such as objectives and mission of the business, marketing strategy and market segmentation as well as a financial plan.
Let's start discussing each of the above items in more detail.
Objectives and goals
You have to set the goals and objectives of your quilting business in order to give the business a direction.
Example of the goals of the quilting business can be like selling 500 quilts products in the first year of operation or to achieve positive working cash flows at the end of the first half year of operation.
Marketing strategy
This is probably one of the most important of a business plan. In-depth marketing research and analysis has to be connected before concluding on the marketing strategy.
You need to identify the quilting products that you are going to sell and to decide which market segment that is suitable for the products. Targeting the wrong segment of your quilting products can result in poor sales.
Financial plan
A complete financial plan should cover the estimated gross sales value and the likely net profit at the end of each operation year.
The plan should also indicate what would be the break-even point of the quilting business and to help control operating overhead.
In conclusion, a good quilt shop business plan should include an attainable and measurable goal and gives the quilting business a clear direction.
