Business Planning Essay Example | Topics and Well Written Essays - 1500 words

Business Planning - Essay ExampleThe recommendations seek to prevent the encroachment of weaknesses in the demarcation protrudes. Finally, the report will have a section for personal opinions and lessons learned from the business schemes. Importance of a Business Plan Business plans are documentations that facilitate planning. An ideal business plan should summit three crucial business aspects, which are financial, marketplace and business concept. A business plan is important because it clarifies a companys direction (DeThomas & Derammelaere, 2008). A business plan defines a business and its trading operations. Additionally, the plan outlines the businesss intention. This means that the plan clarifies the directions and purpose of the business. A business plan also outlines a businesss future direction because businesses adapt and evolve over time. The business plan factors the businesss direction and growth plan (Abrams, 2003). Additionally, the plan highlights strategies that the plan will use in case of market change and slow growth trends. A business plan attracts financing by video display the companys potential to make profits. What a Business Plan Should Cover Differences in business environments provide challenges in the formulation of one business plan for all businesses. An ideal business plan should have a business concept, market and financial strategies (DeThomas & Derammelaere, 2008). Besides these three business sections, the business plan should have other sections that provide a comprehensive business description (Finch, 2013). These sections are business design and development, market strategy, financial information, competition analysis and operations and administration. Description of the Business Plans Bluespa Structure of the Company Bluespa is a family based company owned by Ray and Barbara Brunner. The two also double up as the founders of the company. Bluespa has an idea board that comprises of seven members. Mr. Ray Brunner is a n additional member of the board. Additionally, the board will have three outside directors and two representatives chosen by Mr. Brunner and the theaters major investors (Bplans, 2013). Mr. and Mrs. Brunner have a combined experience of 65 years in the retail industry. The two investors have senior management qualifications, and they held heterogeneous management positions in their previous employment. The two founded the firm, which has its office in Portland, Oregon. From the first year to the fifth year of operations, the firm seeks to grow its head count from 10 to 65 (Bplans, 2013). The majority of this growth in head count is expected to come from store personnel. The rest of the staff will come from support staff. Products Provided Bluespa deals with eubstance and skin negociate products that are developed by the companys contact facilities based in California and France. The company also deals with fit products produced by dint of outsourcing with a sport-related appa rel manufacturer. The production of accessories is managed by contract with the manufacturer of sports-related accessories such as totes, bags and socks. The companys product line includes fitness and skin care apparel. Within the skin care line, the firm offers different products such as eye makeup removers, facial scrubs, cleansing creams, body lotions and masks (Bplans, 2013). Within the fitness apparel line, the firm offers Lycra products such as shorts and tights. New Look, Inc Company