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Peanut Butter Business Plan


business plan
source-pixabay.com
Peanut butter is a delicious snack loaded with nutrients and immense business potential. Initiating a peanut processing factory requires a good business plan and feasibility study.
 It is a veritable income generating source for new and established entrepreneurs. Small food processing units offer room for innovation, product branding and experimentation.
The manufacturer needs to focus on quality, production methodology, appearance and taste. The major investment in peanut butter production is the machinery.
 Equipment include peanut maker, grinding, processing machinery. To access funds and develop a business strategy you need a comprehensive business plan. Here are a few ideas on how to write a peanut butter business plan.
Business Plan
The business plan usually starts with an executive summary. Then you follow up with the type of product, market and financial considerations. Summarize the objective, success determinant, organizational structure, and mission.
Executive Summary
The production of high quality gourmet peanut butter is the company’s priority. Each jar contains healthy ingredients to enhance the taste and flavor of the product.  The production process guarantees competitive pricing and marketability.
The Product
The product has a unique blended taste different to jars obtainable in the market. Funding is provided for product development, testing and extensive research.
The gourmet blend includes dried fruits, granola, chocolate chips including other flavors. The appearance of the jar, packaging, label and brand name are uniquely designed to attract discerning people.
The product is produced in different varieties to accommodate different tastes and preferences. High quality ingredients and raw material constitute the different elements that create the unique product.
Marketing
Peanut butter snack production attracts a billion dollar revenue world wide. There is huge potential for local markets and exportation.
There are many major branded competitors producing peanut butter. However the uniqueness of the product should carve a niche and attract huge patronage.
Peanut butter competes with other snack food in relation to sales and production. Meeting the demand requires an effective marketing strategy and many sales outlets.
Targeting a certain demography and age group would provide the competitive advantage over large manufacturers. Sales outlets include local produce stands, supermarkets and shopping malls. Other outlets are local distributors and local grocery stores.
Financial Considerations
The peanut butter business will be financed through savings and loans instruments. You can also fund the enterprise through owner’s equity, family, friends and partner investors.
This will provide startup capital to purchase fixed assets and working capital. With adequate marketing there would be a significant increase in sales and market share.
The funding will go towards procurement of peanut butter grinders and other equipment. Fund spending includes lawyer fees, insurance website development, payroll including sales and marketing.
Business Description
The business is to provide a unique affordable product. The focus is originality, product branding and demography targeting.
Marketing opportunities involve teen engagement, fun activities and promotions. The premium brand with unique taste and quality is geared for prominence in niche market.
Objective
The projection over three year’s operation includes profitability within one year. Other parameters are product development, product penetration and expansion. The small business will increase number of products and focus on niche market.
Mission
The mission is to build a top brand geared towards profitability. Quality, local distribution networks are the key to success. The company will aggressively pursue cost analysis, produce quality products and manufacture high end peanut butter.
Target Audience
The target is teenagers and young generation.  Other targets for the product include suburban moms and unique item shoppers. Future markets to sustain focus are housewives, mothers and teenagers.
Major Competitors and Competitive Advantage
There are lots of huge players in the peanut butter business. Small snack food items are a major attraction to brand manufacturers.  
The competitive advantage for small manufacturers is closer to the pulse of the customers and quicker delivery. Differentiating your product through branding, unique taste and flavor provides the advantage.
Marketing strategy will focus at trending topic and emotionally driven publicity. The packaging although attractive encompassed simplicity and elegance.
pea nut butter
Products
The peanut butter will have a taste profile unavailable in the market. The gourmet product will feature richly blended ingredients to create a unique taste.
The product could be spread on bread or eating from a jar. The rich blend of flavors adds to the uniqueness of the product.
The production of a few variations is primarily to meet different tastes and provide choice. Developmental stages are small batch production then full scale due to increased demand.
Adequate provisions are made for expansion and maximization of existing equipment. Product features include a good combination of wholesome ingredients
Organization and Management
The management team consists of a chief executive officer and founder of the business. Other staffs are marketing department, sales and machinery operators. The ownership structure depends on the incorporation and investors.
Marketing and Sales Strategy
Marketing involves targeted a demography and grass root campaigns. The programs will focus on youth development, entertainment and sports.
The use of aggressive advertisements through electronic and print media is important to the growth of the enterprise. The use of online resources and platforms such as social media will also take priority.
Financials
 Cost implications include equipment and machinery, marketing, legal fees and web development. Other cost considerations are label, product development, raw materials and utilities.
Projected Income
 The projected income depends on the response and market penetration. The primary goal is increased sales and productivity while maintaining profitability. 
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6 Must Have - Qualities of a Small Business Mentor

Setting up a successful business is very challenging. This is because 70% of startups fail in their first year. To avoid common mistakes you need a mentor. They provide advice, useful information and business tips.
Mentor
1. Ways to Find a Mentor
A business mentor is an established entrepreneur with years of cognate experience. There are many ways to find one in your choice industry. You can find influencers on social media, CEOs, experts in desired field.
Try to attend seminars, trade workshops or institutions of higher learning. You can also find mentors in academia like educators, teachers and professors. The person should be willing to pass business knowledge, experience and offer advice.
There are specific qualities to look for in a mentor. They are successful, highly trained, educated with years of experience. The person should be approachable, available and willing to pass-on information.
Mentors
         Social media influencers
         Chief Executive Officers
         Experts in desired field
         Seminar organizers
         Academia
         Educators
         Teachers
         Professors
2. Lend a Listening Ear
Mentors are busy people so the ability to lend a listening is very important. Mentors have excelled in their career and are sometimes self-indulgent.
Finding one with genuine interest in supporting a young aspiring entrepreneur is challenging. A good mentor should listen, collaborate, converse and offer practicable suggestions. On your part you need to apply the suggestions in practical terms.
         Show genuine interest
         Offer support
         Listen
         Collaborate
         Converse
         Offer practicable suggestions
3. Respect
Despite your limited business experience mutual respect is important. You need to possess the appropriate formal education, passion and understanding of the basics.
A mutually respectful relationship will foster honest discourse. Offering valuable impute will build trust and respect.
4. Experience
The mentor should have appropriate education and cognate experience. They should be achievers in their field of industry. Every business has its own challenges, lessons and practical applications.
5. Availability
Top businessmen are very busy people with little time to spend. You need to find a mentor that is willing to spend some time with you. Availability and accessibility is very important considerations in mentorship. The mentor generally schedules a meeting when available.
6. Get Inspired
The job of a mentor is to inspire you to greatness. The ability to inspire, tutor, demonstrate and offer good advice is important.

10 Reasons Why Age Does Not Determine Starting a Business

There is no age limit to starting a business venture. Mature investors stand a better chance at success because of many factors.
Major advantages are self-confidence, better resources and learning from experience. Others are financial security, good qualification and adequate knowledge of the industry.
old person
1Learn from Past Failure
If you have established an unsuccessful business in the past you can learn from failure. The greatest teacher is failure because you learn valuable lesson.
This will guarantee not repeating the same mistakes and supports proper planning. Business success requires hard work, adequate preparation and experience.
2. Self-Confident
Mature entrepreneurs are self-confident than young entrepreneurs. This is because of valuable life lesson they learned along the way.
Mature investors are more frugal, sensible and realistic in their expectations. They are better motivated, have good self-esteem, and confidence. They may have acquire good formal education, professional experience in related field and confidence.
3. More Resources
A mature investor has more resources available to them. They have a broader network, better chance at acquiring startup capital, experience. They have friends and acquaintances in position of authority.
Older investors are more financially secure, have lots of collateral. It is possible to leverage on established brands, join a franchise and hire professionals to run the business.
Two mature investors can form a partnership and leverage on each partner’s strengths, training and experience. The individual could decide to become a sleeping partner and merely invest in an established brand.
4. Financial Security
Matured investors have better financial security than young investors. They might have paid off their mortgage and saved up a reasonable amount.
They also have good credit rating and have retirement benefits. Having less financial responsibility offers more cash liquidity.
5. Knowledge
A matured invest must have gained work place experience. They are well qualified with formal training and education.
They have gained lots of practical experience and knowledge base. They are skilled professionals in their industry, good network.
6. Focused on a Niche
Young investors find it difficult deciding on a business venture. Matured investor know exactly the industry of interest. They have had ample time to develop a passion and develop ideas.
Statistics show that business based on passion tend to succeed. This is because profit is not the main determinant of such businesses. They will eventually become profitable because of the quality products and services.
7. Investors
Investors generally look at the business structure and management of a company. They are more likely to invest their hard earned money on startup with professionally trained and highly experienced owners.
Mature investors bring years of cognate experience and maturity to the table.
8. Set Goals
Matured investors are better at setting goals. This is because of years of workplace experience. The fashion objectives, vision and mission statement. They are more realistic in expectations, profit, and loss account.
9. Networking
It is easy for matured investors to network with industrial players. This is because their friends and acquaintances are in position of power. They would have built up a network of professionals in the financial, marketing and supply.
Common contacts are accountants, venture capitalists, financial planners. Others are attorneys, marketers, contractors, agents.
10. Life Experience
Good business acumen are benefits of life experience. Others are Hands on experience, training and education.
A mature investor has logical expectations and projections. It takes years to gain life experience and build trust with professionals in your industry.

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How to Write a Tanning Salon Business Plan

To start a tanning salon you need professional training, business knowledge. The business is very lucrative and moderately challenging. The investor needs to incorporate the business, purchase equipment and tanning tools.
Other considerations are finding an ideal location, offering good customer service and creating awareness. The amount of startup funds depends on the business template, number of staff, rent and cost of utilities.
The first step to establishing a tanning salon is to write a business plan. Make sure the plan covers all the parameters of the business.
woman tanning
Milestone
The milestones are establishing relationship with vendors, drafting contract agreements. Others are building a website, writing a business plan and creating awareness.
More include purchase of equipment, furniture, recruitment of employees. The company secures a business name, incorporates as a limited liability company.
We will draft employee’s handbook, generate startup capital and apply for a business license. The company will have a separate corporate account, obtain tax identification, insurance. Check list includes leasing a property, purchasing tanning tools.
         Establishing relationship with vendors
         Drafting contract agreements
         Building a website
         Writing a business plan
         Creating awareness
         purchase of furniture
         Recruitment of employees
         Secures a business name
         Incorporates as a limited liability company
         Draft employee’s handbook
         Generate startup capital
         Apply for a business license
         Have a separate corporate account
         Obtain tax identification
         Insurance
         Leasing a property
         Purchasing tanning tools
Expansion and Sustainability
The business is competitive and lucrative. To attract customers and growth we will use an effective marketing strategy. We will invest in employee training and hire experienced staff.
Financial Projections
The setup costs are company registration, legal fees and consultancy fees. Others are insurance cover, facility leasing, stationery, tanning equipment.
Cost considerations include website, miscellaneous marketing and promotions. Startup capital expected is $250,000, owner invests $100,000 applies for $150,000 bank loans.
Advertising and Publicity
Marketing strategy includes advertisement placement in television, newspapers. We will target local community, corporate organizations and tour operators. Other strategies are listing on yellow pages, directories.
Pricing and Payment Strategy
The price will be comparable with businesses in the area. Payment platforms will include online bank transfer, checks and bank draft. Other payment are cash bank transfer, point of sale.
tanning
Sales Forecast
The business is estimated to make $150,000 first fiscal year, $350,000 second and $700,000 third year. We are optimistic about choice of area.
Services and customer base. The feasibility study will analyze market trends, choice of location and customer behavior. The sales forecast is a projection of potential profit, market share.
Products and Services
We will offer UV tanning, spray tanning and airbrush tanning. Other services include sunless tanning, body contour services, health spa and fitness center. We will provide mobile tanning and sell beauty parlor products.
Marketing Strategy
The marketing strategy will involve television and radio advertisement. Others are newspaper advertisement, online promotions, building a website and print.
We will print billboards, signboards, flyers, posters, stickers and memorabilia. We will organize community activities, use direct marketing, offer coupons and promotions.
How to Promote your Tanning Salon
         Television
         Radio advertisement
         Newspaper advertisement
         Online promotions
         Building a website
         Print billboards
         Signboards
         Flyers
         Posters
         Stickers
         Memorabilia
         Organize community activities
         Use direct marketing
         Offer coupons
Our Competitive Edge
The competitive edge is offering unique services and good customer relations. Our staff are highly qualified, experienced and dedicated.
We wish to be the go-to place for tanning in Baltimore. Our target clients are business people, corporate clients and trendy individuals. Other advantages are good location, effective marketing and competitive prices.
Our Target Audience
The target market are corporate people, stars, celebrities, public figures. Others are trendy individuals, tourists, students. More are sports personalities and hobbyists.
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How to Open a Cosmetology School

Opening any type of school is challenging because of securing an operational permit. The school should conform to state laws before granted permit. Other considerations are writing a comprehensive business plan and drafting a school constitution.
Others are recruitment of qualified teachers, rent, securing a business name. More are opening a business account, tax, furniture and infrastructure.
The owner needs to apply for insurance, purchase training tools, equipment and create awareness. It is capital and labor intensive. Here are some steps to establishing a cosmetology school.
cosmetology school
Things to Consider before Starting a Cosmetology School
         Securing an operational permit
         Writing a comprehensive business plan
         Drafting a school constitution
         Draft a curriculum
         Recruitment of qualified teachers
         Rent or purchase property
         Securing a business name
         Incorporate
         Opening a business account
         Tax identification number
         Insurance
         Purchase furniture
         Add infrastructure
         Purchase training tools
         Equipment
         Create awareness
Cosmetology School Business name and incorporate
The school should be a legal entity so you need to incorporate. Make sure you check the availability of the school name. Incorporate the school as a limited liability company and get all forms of insurance.
The school needs state or federal certification and a license to operate. To acquire the license it should conform to school establishment laws and guidelines. Apply and obtain a tax identification number and draft an employee handbook.
         Check the availability of the school name
         Limited Liability Company
         Get liability insurance
         Apply for a license or permit
         Obtain a tax identification number
         Draft an employee handbook.
Open a Corporate Account
The schools account should be separate from your individual account. Open a corporate account with any reputable commercial bank in your country.
Write a Business Plan
It is important to write a cosmetology school business plan. The carry out a feasibility study and survey. The plan should cover every aspect of the business from funding, staff, infrastructure and curriculum.
Location
Make sure you find a good location and plan the layout. The school can occupy its own plots or rent a commercial premises. The location should be accessible and conducive for learning. Basic utilities are required such as electricity and water.
Tutorial Services
The school should offer a broad based program to meet regulatory accreditation standards. Courses include basic, intermediate and advanced cosmetology. The school can offer accredited certificate or diploma courses.
Sources of Income
The main source of income is from tutorial, admissions and course fees. Other sources are retail of books and materials. Others are seminars, foundation classes, sales of beauty products.
         Tutorial
         Admissions fees
         Course fees
         Retail of books and materials
         Seminars
         Foundation classes
         Sales of beauty products
Pricing Strategy
The pricing strategy is based on prevailing prices in the industry. Study the competitions prices, business structure, courses. Make sure the prices are affordable and accommodate your target students. The choice of location, teacher’s wages, equipment, insurance, loans also affects the fees.
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10 Steps to Starting a Small Business

It requires serious dedication, determination and planning to start any business. There are essential steps to establish an enterprise. Steps include writing a business plan and identifying the business opportunity.
Others are securing funding, incorporation, business license and permit. The investor needs to find a good location, buy equipment, and get insurance cover.
people
1. Identify the Business
The first step is to identify a business opportunity. The opportunity should be in line with your qualification or expertise. The investor should have a passion and deep knowledge of the business. Make sure you carry out a feasibility study, conduct a survey and write a business plan.
         Identify a business opportunity
         Qualification or expertise
         Passion
         Knowledge of the business
         Carry out a feasibility study
         Conduct a survey
         Write a business plan
2. Create an Account
Proper accounting and budgeting is essential for proper money management. The accounting system will determine the fixed and working capital, profit, loss. The investor can use a freelance accountant to balance the books and tax.
3. Business Insurance
Every business comes with some level of risk. Managing the risk would offer better advantage and mitigate unforeseen problems. Apply for liability insurance or small business insurance. This will offer some level of protection from litigation.
4. Business Location
The business location can make or break the enterprise. Determine your business location based on customer demography or availability of raw materials. Things to consider are zoning, good road network, commerciality and closeness to competitors.
         Customer demography
         Availability of raw materials
         Zoning
         Good road network
         Commerciality
         Space
         Closeness to competition
5. Determine the Work Space
The work space depends on the type of business, machinery and equipment. A factory requires ample space for machinery, packaging and loading areas. Office related business require office space for table, chairs, computer, printer.
6. Apply for a Business License
The entrepreneur needs to apply for a business license or permit. The document regulates the industry and conforms to state and federal laws.
The business structure would determine the type of license required.  Other requirements are tax identification number, zoning permit and sales tax.
         Apply for a business license, permit
         Tax identification number
         Zoning permit
         Sales tax               
7. Incorporate
Choose a business structure and incorporate. There are different forms of incorporation based on business requirements and ownership structure. We have the sole proprietor, partnership, Limited Liability Company. a sole proprietorship is run by one man while partnership can accommodate two or more owners. The limited liability company is only limited to the company funds in case of litigation.
8. Name the Business
 It is important to choose the right name for the business. The first step is to find out if the name is available. Then register the name with the corporate affairs commission. Make sure the name reflects the type of business. The importance of business name is the brand awareness.
9. Funding
The investor needs to find money to startup the business. Startup funds are secured through personal savings or borrowing. The investor can borrow from friends and family or a financial institution. Use a business plan to apply for bank loans. The investor should have collateral, guarantors and part of the startup funds. Other ways to secure funds are through crowd funding, angel investors, partnership and sale of shares.
10. Write a Business Plan
A business plan is an essential tool for startups. The plan would highlight the business structure and study the industry. The plan should cover startup funding, labor, fixed and working capital. Other parameters are location, serve or product, pricing.
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How to Assess First 90 Days of Starting a Business

Setting up a successful business is very challenging. You need to regularly assess the business quarterly or yearly to evaluate the progress. To succeed the foundation of the business should be solid.
Things you need to start any venture are funding, business name, and company incorporation. Others are legal. Labor, purchase of equipment, marketing. Here is how to assess the first 90 days of starting a business


business
Secure your First Customer
The first challenge is to secure your first customer. Without regular patronage your business is bound to fail.
To reach customers you need a visible location, effective marketing strategy and quality products. Use referrals, encourage friends and family for patronage.
Sell the Product
Selling the product or services is half the challenge.  You need highly trained sales employees, competitive pricing.
Use regular staff training to provide better service and beat the competition. Closing the deal is the most important aspect of business.
Pricing
You need to constantly evaluate your pricing strategy. The prices should be at par with prevailing prices in your geographical location. The price should be competitive, affordable and reasonable.
The customer base and location determines the price offered. Other considerations are labor costs, rent, raw materials, marketing and cost of production.
You need to adjust your price strategy during the first ninety days to reflect real market expectations. Offering a lower price than your competitor is not a good strategy.
Profit
The sole purpose of opening a business outlet is profit making. This is not applicable if the business is a non-profit organization.
Once all financials, sales revenue and margins are calculated the rest is profit. It is important to hire an accountant for proper stocktaking, bookkeeping and tax.
Set Goals
It is important to set quarterly goals to assess your performance. The goal should have an objective and milestone. Make sure the business becomes a well-oiled money making machine.
Leverage on your Strengths
Every entrepreneur has his own strengths and business knowledge. Use your formal training, workplace experience and course to improve the business.
Common business skills are administration, accounting, bookkeeping, marketing, procurement and sales.
Reward your Achievement
Running a business is very challenging and time consuming. Many successful businessmen fail to enjoy the fruits of their labor because they are too busy. Learn to reward yourself periodically to recharge the engine.
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Pet Boutique: How to Start a Pet Boutique Business


Business Outlook
According to pet product manufacturing association there are estimated 80 million cats and 75 million dogs.  The pet business is estimated at $55 billion dollars with pet boutiques gaining a share of the industry.
Things to consider before opening a pet boutique are employee salaries, insurance and rent. Others are funding the business, type of products and services to offer customers. The business is practicable on/offline depending on your business template.
pet
Business Considerations
Considerations include legal fees, registering the business name, insurance and tax. You need quality products and services.
Others are accounting knowledge, interpersonal skill, operational license or permit. Register the business as a limited liability company or sole proprietor.
         Legal fees
         Registering the business name
         Incorporate
         Insurance
         Tax
         Quality products and services
         Accounting knowledge
         Interpersonal skill
         Operational license or permit
Gain Experience
Gain workplace experience or get formal training. Work as an apprentice and Prior employment in related industry is an advantage. A good grasp of retail sales and marketing are important aspects of the business.
         Formal training
         Work as an apprentice
         Prior employment in related industry
         Retail sales knowledge
         Marketing skill
Pricing
The business is highly competitive with many players. Pet boutique products and services attract premium prices.
To compete favorable your prices should be comparable with those in your locality. Try to study your competitions prices, products and services.
Marketing
Your target customer base are middle to upper class clients. Advertise the business at high end shops, upscale cloth boutiques, high end venues. Use flyers, posters, billboard, banners, sign board.
Use word of mouth, referrals, email marketing, reciprocal advertising. Other good locations to advertise the business are pet grooming centers, doggie day care, and veterinarian clinics. Add the business to yellow pages, online directories.
         Use flyers
         Posters
         Billboard
         Banners
         Sign board
         Use word of mouth
         Referrals
         Email marketing
         Reciprocal advertising
         Choose a unique business name
         Add blog posts to the site
         Add contact address
         Use social media platforms
         Online advertisement
         Advertise in local newspaper
         Organize community activities
         Offer discounts
         Use promotions
         Coupons
         Newsletters
Build a Website
Build a website to highlight the business. Choose a unique business name, domain name and good host plan. Add blog posts to the site, contact address, telephone number and products.
Add online shopping including a PayPal payment system or debit card processor. Use social media platforms and online advertisement to drive traffic to the website.
Place advertisement in local newspaper, pet magazines. Organize community activities, offer discounts to regular customers. Use promotions, coupons, newsletters.
Product
The list of pet boutique products is huge. Common products are pet toys, supplies, treats, travel carriers. Others are collars, leashes, pet identification tags, bedding. More are pet clothing, gift baskets, bows, bandanas, hats.
         Pet toys
         Supplies
         Treats
         Travel carriers
         Collars
         Leashes
         Pet identification tags
         Bedding
         Pet clothing
         Gift baskets
         Bows
         Bandanas
         Hats
Location
The choice of location should be close to customer base. Target customers are middle to upper class individuals.
Good locations are highbrow areas, upscale areas and commercial areas. You need a web store to run a home based business. However a retail store offers better opportunities.