The wool shop 1 Page Business Plan
Overview
The wool shop has a clear business objective to distribute Knitting yarns and associated products. These products have been developed over many years with a core focus on addressing the customer service provided to an increasingly growing "age old art". The key customer problem is education and supply of products and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to grow revenue. Rapid revenue growth is considered the most critical and measurable business goal. At this stage of our development, we consider this to be more important than profitability growth, although both are important long term objectives.
The Customer
The wool shop has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as Providing superior yarns in a city that has only 3 specialist wool shops. This is a critical issue for our selected target market of All crafty people.
The Value Proposition
The wool shop is uniquely positioned to deliver value to All crafty people. "The wool shop will Provide friendly, helpful service to all knitters. Lessons and kits to beginners, to superior yarns, patterns & haberdashery to experienced knitters. Create wonderful creative friendly place to be.." In order to be deliver on this value proposition, we We want to create a fabulous place that customers just want to be and will tell people the fantastic array of wools and brilliant customer service provided. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Knitting yarns market. We consider our key competitors to be Spotlight and the wool Internet sites. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with These retailers by providing The whole experience of being a knitter. Fulfilling the visual, touching, & creative senses. Friendly talk, advice, help, groups, service in a relaxing shop with chairs and coffee..
Key Strategies
Over the next 6 months our focus will be to Friendly services. This task will be undertaken in the context of our broader strategy to Increase interest in knitting and get more people using wool. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: To reach annual profit of previous owners To improve on the annual profits of previous owners To greatly increase the customer base permanently
About this document
Knitting yarns Business Plan
This document was created by Ann of The wool shop using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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