Forums: Discussions for entrepreneurs and small business.

I am working on a business plan for a new fashion boutique in a down town area.  My problem is I am not sure what the cost of the inventory will be.  I know how much each item will cost.  But I do not know how much inventory I need.  My store has about 3,000 sq feet.  I want to carry clothes and gifts.  I do not want to cram pack my boutique, I also do not want it to appear empty.  Is there a rule of thumb about how much inventory one needs per square foot.

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Hmm...there is a rule of thumb...i`m trying to think of it...try using a service like google answers (http://answers.google.com/answers/)

Here is one way to do it...with an example

Estimate how many sales you will have for the year? Say $500,000
Estimate your gross margin? Say 50%, so $250,000
How many months of inventory do you want to have on hand (although I am sure you probably sell way more in oct-dec so you would probably want higher amounts for those months)? Say 2.5 months

$250,000/2.5 (months)= $100,000 of inventory.  That seems like a bit high of an estimate but it is at least one way too think about it.

I know in the dollar store industry you want around $15 per sellable square foot as opening inventory (i.e. $45,000)

Hi,

I hope this is not being to forward on my part but I was wondering if anyone would not mind showing me their business plan.  I have completed my new updated plan and I would just like to get a look at how other people have done theirs. I want to make sure I got this thing half right. lol 

Thanks,

Cole

cole,

JUST IN CASE you don`t get takers on your request to look at their confidential business plans, you can review sample plans at this page within our 10 Steps to Open for Business. (see the box on the right side of the page titled, "Samples")

love that you did the hard work of creating a business plan - a critical step in really knowing what your business is all about.

rich

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Rich Sloan , Co-Founder, Chief Startupologist, StartupNation

I do not know what format you are using for your Bplan, but I purchased Business Plan Pro.  I not only helps you to go through the whole process, but it provides a finished product for your plan.  Slap it into some plastic sheets and a nice binder and you have a great presentation.  You can also use the finished product to creat a Power Point (I think).  glhf

Dave

Cole:

It`s kind of redundant, but I recommend the book Bankable Business Plans by Edward Rogoff. I had to read the book for an entrepreneurial class in college. I used the book as a base to build my plan, which actually won 3rd at the university`s business plan competition.

The competition was great, because I not only won money towards the startup of my idea, but the plan was also critiqued. I don`t know if you have anyone such as a mentor or experienced entrepreneur to look your plan over, but that may be a great alternative to actually getting people to cough up those "confidential" plans. No plan or idea is truly confidential. I would also consider trying local organizations such as S.C.O.R.E. or some advisors through the SBA. Might be a reach, but any advice would help. Talking to people who have travelled the path are great resources.


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HYBRID Digital Media
"Providing High Quality Design Solutions"
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I need sample of business plan for restaurant

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I have the passion to be a successful enterpreneur-Restaurant.

Hi joles,

You`re in terrific luck!!

We have a sample business plan for restaurants in Step 3 of StartupNation`s 10 Steps to Open For Business. Make sure you check out all 10 of the steps to give yourself the best opportunity for success.

I hope your day is sensational.

Joel

Hi Joel,

 Thanks for your adviced. My real Name is also Joel, I only used joles as my nickname.

By January 2007, Im going to venture in restaurant business and I have one partner. I would like to know from you what are the obstacles and problem that we may encounter during our start up phase. Waht are the common problem between partners and how to combat it?

Thank you.

 

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I have the passion to be a successful enterpreneur-Restaurant.