The plan should also include information about grocery store employee unions and how this affects wages, working conditions and business disruptions; food storage and handling laws; liquor licensing laws; prohibitions on the sales of certain foods; tax laws, such as which foods are taxed, which are untaxed and the other collection regulations such as the different deposits on beverages sold in aluminum cans and glass bottles; food stamp acceptance; consumer sentiment toward genetically modified foods; and much more.
Will you stock items from further away? Now you just need to put that into writing and back it up with data.
You noticed a trend or an opportunity that you could exploit to earn a profit. By what percentage can you mark up your products and still be competitive?
Will you need to hire drivers to go to their farms? All is not rosy in any industry, so you need to identify and analyze potential risks to your business. Potential lenders and investors will expect that you have, too. Consider any technologies — existing or emerging — and how they will influence your business specifically and the industry in general.
Describe where your business will get its supplies from and how it will get those supplies to your business location. Make sure to go into detail. How will your business be able to compete with their strengths and improve on their weaknesses?
This might sound like an obvious question, but think about it more carefully. What wholesale prices can you expect when purchasing food from local farmers? Is it growing faster, slower or at the same pace as the economy as a whole? When writing your industry analysis, be realistic.
Do your competitors employ technologies that you do not, and if so, why? Will you use drones to deliver baskets of produce?
It was probably an observation or a series of observations about the conditions in your industry that made you decide to open your business in the first place. The factors that are hurting and helping other players in the industry will also impact your business.
Defining Your Industry The industry overview for your business plan, also called a market analysis, should define the industry that your business belongs to, the major characteristics of that industry and its major existing players.
You need an answer to the question: Where do their strengths and weaknesses lie? How will you placate customers in that situation? What does it offer — in-store coupons, weekly circulars, recipes, the ability to create a shopping list?
And while people need food year round and in all economic climates, they do tend to buy more near major holidays like Thanksgiving and Christmas.
When describing your major competitors, you would include not just other grocery stores, but also mass merchandisers, warehouse stores and online stores that sell food. Which aspects of your business are most sensitive to changes in technology? Having a compelling answer to this question is crucial to your sales pitch.
What effect could a new mayor, governor or president have on your business? What about changes to the federal farm bill or changes in laws about selling raw milk products? How do businesses make money in your industry?Bplans offers free business plan samples and templates, business planning resources, How-to articles, financial calculators, industry reports and entrepreneurship webinars.
Business & Industry. Businesses today must plan for more than just supply and demand. Hurricanes, floods, fires, terrorism, and other potential hazards pose serious threats to businesses everywhere. Writing a business plan? These how to instructions focus on writing the Industry section of the business plan, with questions to guide your research.
Oregon Business Plan strives to create jobs, raise incomes, and reduce poverty in Oregon. Read our Industry Clusters FAQ page for more information.
An Industry Analysis is the “analysis of conditions in an industry at a particular time, including the behavior of and relations between competitors, suppliers, and customers.
Understanding the different factors at work (market, political, economic) within a given industry is an important component of effective strategic planning for any company. May 22, · Know Your Industry Before You Start Your Business. by: This can make a big difference to a business and a business plan.
The restaurant industry, for example, is what we call “pulverized,” meaning that it, like the dry cleaning industry, is made up of many small participants. The fast food business, on the other hand, is /5(43).Download