BUSINESS PLAN FORMAT

COVERPAGE
APPROVAL SHEET/GRADING SHEET
TABLE OF CONTENT
BUSINESS LOGO/ SLOGAN

INTRODUCTION
• Introduction on why you were able to come up with the business venture
• Proposed Name of the Business
• Address of the Business
• Name of Owners
• Funding Requirements
EXECUTIVE SUMMARY
This section presents the VMGO, the Business model, Business and product positions, wealth improvement
approaches, and the parties supporting the business plan.
• Vision, Mission, Goals, Objectives of the Business
• Business Model adopted
• Business and Product Position
• Wealth Improvement approaches
• Parties supporting the Business
ENVIRONMENTAL ANALYSIS
This section presents the industry analysis of the proposed business. This section covers forces that are
might directly or indirectly affect the proposed business. This includes trends, consumers, competitors,
market forecast, market share, position, and strategy.
• Trend in the industry/ market
• Consumer Analysis
• Competitor Analysis
• Market Forecast
• Market Position
• Market Strategy
BUSINESS DESCRIPTION
This section shall present the over-all business description. This includes nature of the business, the
forecasted size of the business, and the products/services to be produced.
• Nature and form of the business
• Size of Business
• Product and services it plans to serve

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 ORGANIZATIONAL PLAN
This section shall present the over-all proposed organizational plan for the business venture. This includes
the proposed organization structure, roles and responsibility of man power and proposed salary.
• Organizational Structure
• Roles and Responsibilities of owners and members of the Org. Structure.
• Proposed Salary

PRODUCTION PLAN
This section presents the production plan of the proposed venture. This includes production schedule,
production process, equipment required, sources of materials and estimated production cost.
• Production schedule/operating hours
• Production Process
• Equipment Required
• Sources of materials
• Estimate cost (breakdown of costs)
OPERATION PLAN
This section outlines proposed operation plan of the business venture. This includes evaluation of supplier,
purchase procedures, storage and inventory procedure, sales procedure and service flow chart.
• Evaluation of Supplier
• Purchase Procedure
• Storage and Inventory
• Sales Procedure
• Service Flowchart
MARKETING PLAN
This section contains the proposedfactors of the marketing mix of the venture.
• Product
• Place
• Price
• Promotion
• People
• Packaging
• Positioning

FINANCIAL PLAN
• Major Assumptions
• Sales Projection (Weekly, Monthly)
• Statement of Comprehensive Income

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 Statement of Financial Position

APPENDICES
• List of Tables
• List of Graphs
• Matrices and Flow Chart

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 ST. PETER'S COLLEGE OF TORIL, INC.
McArthur, Highway, Toril, Davao City
AY 2020-2021
Basic Education Department- Senior High School

BUSINESS PLAN
November 28, 2020

For

EMPRESS’ PRECIOUS HAIR ACCESSORIES

K11 Yanong Residence, Maligaya Street, Ideal Subdvision, Bago Aplaya, Talomo
District, Davao City

(Ericka Y. Lumain)
Proprietor

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 ST. PETER'S COLLEGE OF TORIL, INC.
McArthur, Highway, Toril, Davao City
AY 2020-2021
Basic Education Department- Senior High School

APPROVAL SHEET

This BUSINESS PLAN FOR Empress’ Precious Hair Accessories prepared by Ericka Y. Lumain has been

submitted for grading and evaluation as part of the final requirements for the subject

ENTREPRENEURSHIP FOR SENIOR HIGH SCHOOL STUDENT.

Examined and evaluated and deemed with a grade of .

Assessed this 28th day of November 2020.

MR. EMMANUEL L. TEMPLA Entrepreneurship Teacher

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 TABLE OF CONTENTS

TITLE PAGE.....................................................................................................i

APPROVAL SHEET........................................................................................ii

BUSINESS LOGO.............................................................................................iii

INTRODUCTION.............................................................................................1

EXECUTIVE SUMMARY...............................................................................

ENVIRONMENTAL ANALYSIS...................................................................

BUSINESS DESCRIPTION.............................................................................

ORGANIZATIONAL PLAN...........................................................................

PRODUCTION PLAN......................................................................................

OPERATION PLAN.........................................................................................

MARKETING PLAN........................................................................................

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 FINANCIAL PLAN...........................................................................................

APPENDICES....................................................................................................

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 INTRODUCTION

I was able to come up with the business venture—hair accessories because it is a hobby turned into

a business, I am likely to gravitate towards what I already love. Furthermore, hair accessory business sit at

the nexus of two thriving industries: fashion and trend. In my perspective, as an aspiring entrepreneur, a

hair accessories business is an opportunity to earn profits while exercising my flair for style.

The proposed business name is Empress’ Precious Hair Accessories. This business is eclectic,

stylish, and elegant. The philosophical values are beauty, harmony, proportion, aesthetic experience,

empowerment, and virtue, pleasure, happiness, and contentment. Hair accessories have actually been

around for, pretty much, as long as humans. There are three cultures in my business, namely, customer

commitment: I develop relationships that make a positive difference in my customers' lives. Quality: I

provide outstanding products and unsurpassed products that, together, offer premium value to our

customers, and integrity: I uphold the highest standards of integrity in all of my actions when selling.

These are the philosophical values and culture that the business values the most.

The Empress’ Precious Hair Accessories is located at K11 Yanong Residence, Maligaya Street,

Ideal Subdvision, Bago Aplaya, Talomo District, Davao City. The email address is

erickalumain88@gmail.com. This is a sole proprietorship and there must be only one owner of the

business. Ericka Y. Lumain is the name of the owner. The funding requirement are included in this

business. The cost of the equipment used is Php 300.00 for the electric sewing machine. The supplies tally

for Php 150.00 for sewing materials, Php 200.00 for assorted hairclips, and Php. Php. 200.00 for fabrics.

The total cost is Php 850.00.

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 EXECUTIVE SUMMARY

In the executive summary, the VMGO is presented. Vision: By creating a strong business base

from the start I can continue to grow and develop for the future. By creating a happy and healthy work

environment I can encourage myself to stay motivated, make, and offer to the highest standards, in turn

providing customer’s standards that will rave about. Mission: To provide each and every customer with

high quality handmade and hand sewn hair accessories at reasonable prices, and to offer the best selection

of quality hair accessories. To produce high-quality, low cost, easy to use products that will help build this

business. Goals: My long term goal is to focus on growth, sales income and spreading the word about the

business. Also, growth and expansion. Objectives: Getting and staying profitable, productivity of people

and resources, excellent customer service, mission-driven core values, and sustainable growth.

In the business model adopted, Empress’ Precious Hair Accessories perspective in terms of

structure is focused on sole proprietorship because there is a sole or primary control of the business and its

activities. The continuous innovation and improvement in the product quality and designs are indicators

for the competitiveness of my business in the industry. My business gives importance to customers,

creditors, suppliers, and internal human resources by continuously offer improvements, observing

competition, work out purchasing objectives, valuing quality above reliability, draft a general payment

policy and communicate it to new suppliers.

Business and product position. Empress’ Precious Hair Accessories is conducting a competitive

benchmarking. The hair accessories market is segmented by product, type, decoration, and style. The

increased efforts have been under way since the beginning of the proposal, and have been investing more

in consumer research, testing and developing new products for customers. To determine the accumulation

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 of wealth, I will first create a budget. Begin by looking at how much I spend and where I spend it. Pay off

high-interest debt, have the right insurance, and lastly, create an emergency fund.

Wealth improvement approaches. I will develop a track record of success through innovation.

Accordingly, maintaining my competitive edge in business requires you to improvise and innovate in every

new scenario that I face, is how I maintain a competitive advantage. In order to position the business in the

market, I will figure out my point of difference. My unique attributes are what set me apart from my

competitors and attract consumers and clients to my offering. In terms of improving or increasing the

market share, I will make it through innovation, strengthening customer relationships, and acquiring

competitors. A business's market share is the percentage it controls the total market for its products and

services. To maximize the utilization of resources, I will evaluate the best utilization options and explore

undiscovered opportunities. Take stock of your resources, and track resource utilization. Having

determined how I will improve resource allocation and utilization, and having scheduled my resources, it is

also vital that I am able to accurately track the utilization for each resource. This makes it possible to

determine how well my product business is meeting my goals and my customers’ needs. Without being

able to accurately measure utilization, I will determine efficiently or effectively leveraging my resources to

meet my customers’ expectations.

Parties supporting the business. Consumers, once you identify the type of people who buy hair

accessories, you're ready to implement marketing strategies that get your accessory in front of people

willing to buy. The consumers that the Empress’ Precious Hair Accessories target are of all gender,

women or the opposite as long as he/she is interested in fashion and trends for hair. Creditors, when

creditors review the business plan of a new business, they expect to see that the owner has put an

abundance of serious thought into the venture. If they are to commit resources to a new enterprise, they

want to believe that the company has every chance of succeeding. Potential creditors look for evidence

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 that the owner or management group has invested enough capital in the business to demonstrate a

commitment and put the company on firm footing from the beginning. Suppliers, good suppliers and

maintaining solid relations with them can be an invaluable tool in the quest for business success and

expansion. In fact, a business can only be as good as are the suppliers with whom it works. Suppliers

provide the materials a company uses to produce its own goods and/or services. Suppliers provide the

transportation of those materials. Suppliers provide a company with the services it uses in providing goods

and service to its customer. Employees and staff, since this is only a sole proprietorship, I will not include

the employees and staff because I am the one who manage the business.

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 ENVIRONMENTAL ANALYSIS

The trend in the industry/market should be conducted by a critical evaluation to determine if it can

directly affect my business. Key factors that are driving the market growth include a rising preference for

fashionable products that serve the purpose of utility as well as give a trendy look to the hair. For the

strategy to identify the trends, make the most of digital tools and analytics to assess industry behavior.

Digital analytics can help me discover trends increasingly searched for by consumers online. In addition, it

is essential to also listen to customers, and observe the competitors.

Consumer analysis is a critical section of a company's business plan or marketing plan. It identifies

target customers, ascertains the needs of these customers, and then specifies how the product satisfies

these needs. I will include the age range, lifestyle, geographic location, scope (number of potential

customers), income/revenue. My marketing plan includes data regarding my target market's income level.

Furthermore, the customer base and purchase history are included and must be evaluated in the consumer

analysis.

Competitor analysis is a strategy where you identify major competitors and research their products,

sales, and marketing strategies. By doing this, you can create solid business strategies that improve upon

your competitor's. In competitor analysis, I am able to identify what my competitor is doing right. This

information is critical for staying relevant and ensuring both my product and my marketing strategies are

outperforming industry standards. Learn through customer reviews what's missing in a competitor's

product, and considering how I might add features to my own product to meet those needs. I will also

conduct benchmarking against which I can measure my own growth.

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 Market Forecast is a core component of a market analysis. It projects the future numbers,

characteristics, and trends in your target market. The strategy that I will conduct is multiplying the number

of potential customers in the market by the average purchase per customer. In this case I took the average

number of customers in each segment over the five-year forecast period, and multiplied that by the

average purchase per customer, to calculate the market value.

Market Position. The strategy that I determined is positioning based on product characteristics,

positioning based on the products’ price, positioning based on product quality or luxury, positioning based

on product use or application, and positioning based on competition.

Market Strategy. I will consider the strengths and weaknesses of the organization, the needs of the

customers and market and the position of competitors. The purpose of my positioning strategy is that it

allows my business to spotlight specific areas where I can outshine and beat the competition. Product

attributes and benefits: associating my brand/product with certain characteristics or with certain beneficial

value. Product price: associating my brand/product with competitive pricing. Product quality: associating

my brand/product with high quality.

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 BUSINESS DESCRIPTION

The nature of Empress’ Precious Hair Accessories is a sole proprietorship business. Offering and

selling different varieties of hair accessories that fits the trends in the present generation. I sell it to my

target consumers and for those who are interested in fashionable hair accessories.

The size of my business is a Micro Businesses. Micro businesses are those with less than 10

employees.

This section shall present the over-all business description. This includes nature of the business, the

forecasted size of the business, and the products/services to be produced.

• Nature and form of the business

• Size of Business

• Product and services it plans to serve

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