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Strategy and Implementation Summary
What is your general strategy to make your business a winner and how will you complete this?
Banquet Hall Marketing Strategy
What are the tangible methods you are going to use in order to market your Banquet Hall business to your existing and potential patrons. You can in addition add the expenses involved in doing this and strategies involved in lowering your marketing expenses and how your marketing strategy can seek out your clients better. For instance if you are using PPC as a strategy to target Banquet Hall patrons you could draw on long tail keyword search phrases rather than short generic words. This ought to cut down your Pay Per Click outlay as well as laser targeting your patrons; even though it will of course take longer to set up. Read more about marketing strategy.
Banquet Hall Pricing Strategy
What policy did you use to get your selling prices for your services and products? Are you going to use cost-plus pricing, limit pricing, loss leaders, market-oriented pricing, penetration pricing, price discrimination, premium pricing, predatory pricing, contribution margin-based pricing, psychological pricing, dynamic pricing, target pricing, absorption pricing, high-low pricing, marginal-cost pricing, odd pricing, freemium or pay what you want pricing?
Check out this article on pricing up your products
Promotion Strategy
What promotion strategies are you going to apply to get the sound out as regards your services and products to your potential clients - are you going to do media releases, run events, networking, sales pitches, follow-ups, have promotional products?
Business Competitive Edge
Do you have some benefits above your rivalry that you can exploit to your advantage? Are you capable of keeping your costs lower than your rivalry so that you are at all times the cheapest? Do you have a first-class place? Are you the originator or the only one to supply a product or service? Are you capable of staying ahead of the opposition and if so what enables you to do this? Do you have a good class, trademarks, patents or a licence?
Web Strategy
Are you going to have no website whatsoever or an all singing and dancing website with bells and whistles on? In most scenarios it's going to be something in-between these two, and you need to deliberate long and hard where your company is going to position itself. You can go and see this website and get more info about putting your Banquet Hall business online.
Sales Strategy
How are you going to pick up sales for your Banquet Hall business in the first place and how are you going to increase or preserve sales as time goes on? How much is every sale going to cost you? Make sure you know what questions to ask of your would-be clients and know the answers to likely questions they will ask you. How are you going to make a connection with your customers to get yet to come sales from them? How are you going to scrutinize your sales? Do you want to increase your sales?
Formulating a good business proposal will increase your chances of getting a sale. Use this sample Banquet Hall business proposal to assist you.
Management Summary
Management Team
Who are the core players in your company?
Banquet Hall Organizational Structure
What is the hierarchy of your business - who is in charge of each division inside your organization?
Personnel Plan
This ought to be a listing of everybody in your company, their payment and what if any share options they have for now and in the future. You can also add what type of contracts they have, long and short term and whether that is prone to change in the future or not.
Banquet Hall Financial Plan
Will you bring in all your own funding or will it be a mixture of your funds, bank loans, or angel investors? Do you need help in writing your financial plan?
Banquet Hall Break Even Analysis
How long will it take to get your investments back in terms of capital outlay by means of sales of your services and products. You should represent this in graphical form. You can obtain free breakeven analysis including a spreadsheet and simple examples.
Banquet Hall Profit and Loss
You can denote this usually in the form of a monthly and yearly bar chart as well as tables. Obviously these should be revised as your business goes along on a monthly basis. You can obtain a free profit and loss spreadsheet to assist you.
Banquet Hall Cash Flow
You should have tables and charts to display your cash balance and your net cash flow. Download a free cash flowspreadheet.
Appendix
This should comprise all your necessary info which makes your business operate efficiently. This should be your business financials - so all your tables of numbers, tax returns, inventory estimates and personal and business credit history information. The information in the appendix is highly confidential and should only be given to potential investors.
Exit Strategy
How exactly are you going to sell your Banquet Hall Business?
Banquet Hall Business Plan Page 1 | Banquet Hall Business Plan Page 2
Useful Banquet Hall Resources
Banquet Hall Marketing Plan | Banquet Hall Equipment | Banquet Hall Online
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