Instead of providing an example like I've done with other sections, use the following to determine the key areas your plan should address: Location and Facility Management In terms of location, describe: Sound like a lot? Next time we'll look at another major component in a business plan: who is (or will be) on your Management Team. writes about products and services in this and other articles.
It can be--but not all of the above needs to be in your business plan. Then create an overview of that plan to make sure your milestones and timeline make sense. These articles are editorially independent - that means editors and reporters research and write on these products free of any influence of any marketing or sales departments.
You’ll see how they focused on concepts like operational efficiency, who their suppliers are, and how they planned to sell to new customers.
“The key is to put something down and then start executing on it,” says Stanton.
“So we relied on our advisory team to come up with a direction to take the company in.” The key decision Bandawat and Stanton made in changing the operations of their business was to close the factory the company had been using in Michigan City, Indiana, and move the specialized equipment to a contract manufacturing facility in Glendale, California.
Bandawat and Stanton agreed to share their operational business plan with us as an example of how you, too, can come up with one for your business.“And you’ll need to keep changing and updating it as you go and learn.The next step in creating your business plan is to develop an Operations Plan that will serve your customers, keep your operating costs in line, and ensure profitability.For instance, if you are starting a retail business, you will want to think about things like inventory and distribution while a software company may be more focused on securing office space and computer equipment.Again, the point is that you need to think about the kinds of details you’ll be facing from the day you open the doors of your business.Your ops plan should detail strategies for managing, staffing, manufacturing, fulfillment, inventory...all the stuff involved in operating your business on a day-to-day basis.Take it from Bandawat, who, as an undergraduate business student at the University of Southern California, crafted a business plan that involved turning around the operations of Jacob Bromwell, a specialty housewares company that has been continuously manufacturing authentic campfire, kitchen, and fireplace products for families since 1819.Bandawat, who comes from a family of successful entrepreneurs, teamed up with his longtime friend, Eric Stanton, to tap money from friends and family to buy Jacob Brownwell.You should think through and create a detailed plan for each category, but you won't need to share the results with the people who Think of Operations as the "implementation" section of your business plan. In other words, no one is telling our reporters or editors what to write or to include any particular positive or negative information about these products or services in the article.The article's content is entirely at the discretion of the reporter and editor.