1040E Planning for Success
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Transcript of 1040E Planning for Success
7/28/2019 1040E Planning for Success
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Bui Plaig Vm 3, I 1
• Whaabpa?
• Cpabpa
• Hwhdypab?
• Addacpcd
• BpaadcInsIde
Pacc A i pa ri h a i i prat. It a ri th
i r. Th h a rit a tai i pa k h th
ar, hat th’r i, a hat th’r tti it. Th rtair h ’trit a i pa t th aait thmv. I rtai, th r
h ha pa rar i.
Rrt Pri
www.ReTAIlcouncIl.oRg
A Pu blI cATI on o f
sPonsoRed by
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retailersguide A piati Rtai ci caaa
A raiti i pa i th rt rqirmt r pai a
i r xpai a xiti i. Thi Rtair’
gi prvi a tarti pit r rtair h t t
tart a rmi a rtair at th imprta
kpi a pat i pa ha.
WHAtisABusinessPlAn?
“At it hiht v, a i pa iv a xiti i
r r a trprr a trtr vi hat i
k ik vr th trm,” a davi wit, dirtr sma
bi baki at stiaak.
A i pa i th mpa’ r trat, it rip ar
r , it Pa A a it Pa b. A t mak it rk, a i-
pa mt raiti a jtiv.
Ma pp rapp ith h t a thir pra a
i rr raitia. sm a vr ptimiti
i ai h th i i ar a h th
a maa th i. At th am tim, m ma t
pimiti aii t th pprtiti a pai
rr a pra ki.wit rmm rtair ri i prptiv thr a-
vir, thr i r, atat, ar a ma
i akr. “Th a hp i i raiti a -
jtiv,” h a.
ComPonentsofABusinessPlAn
Thr i riht a t rit a i pa. dpi
th ki rtai i prat, ’ t at
r irt apt th i. fr xamp, a rtai i-
that rt dVd i rqir a pa r prhai a tr’
worth of lms, while a grocer will need to plan for how to keep
pr rh.
As a start ing point, Scotiabank provides a ve-step process
that apt that hav a rat t -trm
.
1.BDcp
Th i ripti prvi a vrvi hr th i
ta a hr at th i t . Hr ’
ri r pra a, r vii a th jtiv
r rtai trpri. y’ a ri hat it i that mak
r i iq.
2.thmapac
urtai r tmr a r mptiti i a im-
prtat apt th i pa. I thi ti, ’ -
mt th tk th itr, ivtiati mraphi
thi, ratr tr, virmta ha
a thr thi t tr a prit th tr th itr a
understand how you t into that future.You’ll also need to dene your market share. To do this, you’l
t iti a ri r mptitr’ trth a
ak that a arv aa i pprtiti
that r mptitr ai t raiz.
fia, t iti th irt tp pttia
tmr r r tr. y i at t vp a prtrait
hat r tart tmr k ik. what’ mt imprtat t
th tmr: pri, prt, rvi, mthi ? what
th , h t th , h th a hr
th ?
.rtaii.r
Ywwadp
apawhay
ac.
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Bui Plaig
3.saadma
When you’ve identied your customers, you can tailor your sales
a markti t rah th pp.
Your sales process needs to help you create satised custom-
r. cir th qti:
• Where will you sell your product?
• How do you sell your products?
• How will you process sales?
• How will you structure your discounts?
• What happens to the customer relationship after the sale,
a h i maa rtr?
When you have your sales dened, dene your marketing. How
i piti r tr ithi th markt, h i pri
r prt t rat va, a h i prmt r
prt i th marktpa?
Rmmr t tr r pa it ar. Tak r ia r mar-
kti, avrtii, rai, mrhaii, tr i a -
i a ai ar amt t th t. Jti r timat.nxt, mpar r prjt a vm t r xp. ca
you break even? Is the prot worth the effort? Do you need a loan to
get through the rst few years? How much should you borrow?
4.Bopa
“with rtai, rtai i tai. It rqir prtt tai pai
ar tmr t, r mari, ta hiri, a jt
at vrthi . It’ a th thi pt tthr. A
a ki i ’r t ar,” a l Krr, ceo KrrMi
I., a i ti mpa.
Rmmr t tak tim t at r a th tai r i-
i . Hr ar m thi t thik at:
• Whwwy? ca it a r, r mt
hir pp? d k h t hir a trai pp?
• Dpccypa. Prha ira a pr
par r th piiit mptitr, pp air
hai tmr tat, mp trik a ratr
itrr.
rraak.m/rtai
tAkeAsmuCHtimeAsYouneeD,
ButkeePitsHort
H h it tak t rit a i pa? That
p.
“It h tak a a it tak t rarh a
rta hat it tak t vp a pa,”
a davi wit, sir Maar, stiaak. “Atit t, th i pa pr tak thrh
a pr that vaat th hih a hat
ma m.”
stiaak rmm a 10-pa i pa that
vr th mai apt th i itht ri
th rar i tai, t wit a th th a pa
i var pi th mpxit th i.
“y ’t at it that th k pit t t, a
you don’t want it so short that it’s supercial.”
Hwwyp
ypdc
hapac?
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A piati Rtai ci caaa
• Whaadydw? what at m-
iipa rqirmt, mi ii rm socAn t pa
mi i r tr a a vr prmit t ta?
• Whaabacccydcy?
• WypayacacharaCcCa -
adac-apaadadcacy?• Ha y cd a acca? Ar pai
th rrt tax? A it th tia rtaii i
avaia th w thrh Rtai ci caaa at
.rtaii.r/tkit/tia.
• Whwppyyb? d k h t mt
thm? A pa t tart i Rtai ci caaa’ Rtai-
r Rr gi, avaia i at .rtaii.r/
tkit/rri.
5.faca
yr i pa i rmai impt ti rk r
aa ht it th pa. y mt t t r xp,
prjt r a, trmi i a a a h mh
mt rr a, t th i ra, trak
spending and cash ow.
ADDitionAlComPonentstoConsiDer
dirt i pa i prvi irt ia h t
vi a i pa. caaa bi srvi r sma bi-
, a a th ra vrmt, t thr m-
pt a i pa that rtair i t ir:
• ia pa hpp. Pa t hat ki
ima at t prjt.
• Dcdyccpc.H a
ith tmr mpait i trit t r tr’ ima.
• Dapacyc.H i k hat
hav ha, hat i rr a hat ha ?
• eyhadadypa.Mak a it
hat t , hat t t t it
a h t hav it . Ma rat ia hav
ri p a vaih a th r vr xt.
BusinessPlAnsArelivingDoCuments
“A i pa i a ivi mt,” a wit. “writi
a i pa i t mthi . A i
pa rm th ai maaria rvi that rvi rm
tim t tim a a.”
o hav prati r i, priia rviit th pa t a hat’ i a h t
ha r pa that a ti t .
wh r i pa m a part th mitri
pr, ’ a t mr rai xpa r prati
a a ith mitak h th r.
“It’ har rk, t it’ t mpiat,” a Krr, “a it ra-
k i hthr k r i r r ii-
ness to do the work to [nd out] what drives the business.”
namb?RCC has much to offer retailers by way of benet
prram that i sAVe you Money, rarh airmati that i KeeP you coMPeTITIVe a
vt that i a t neTwoRK.
Pa a r mmrhip partmt r viit r
w it at www.acc. r rthr tai.
Rcc rprt mr tha 40,000 tr thrh-
t caaa. Rcc Is AbouT doIng TogeTHeR
wHAT ReTAIleRs could noT PossIbly do on
THeIR own.
JointoDAY!
1255 ba strt, sit 800
Trt, otari M5R 2A9
(888) 373-8245
.rtaii.r
ADDitionAlresourCes
• Starting a convenience store: This resource provides
itrti irmati that a appi t a rtai
i. www.cbc.//Cs?pa
a=CBsC_fe%2fdpay&a=&cd=1099
483437618&c=gdHw
• Interactive business planner: This interactive software
hp rtair vp a thr-ar i pa.
www.cbc./bp/
• Start-up checklist, courtesy of Canada Business Servi-
r etrprr: www.cbc.//C
s?paa=CBsC_fe/dpay&c=gdfac
sh&cd=1081945275479&a=
• Retail Council of Canada’s “Starting a Business” re-
r pa: www.acc./bc
• Scotiabank’s Business Planning Guide:www.caba.
c/cda/c/0,1608,CiD10331_liD,00.h
• Your local business college will also offer courses on
h t t p a i a rit a pa.
spcazdacaadchpyabccd
To help you take your business to the next level, RBC has a dedicated team of account managers who specialize in nancial services for retailers. With up-to-date
knowledge of the changing trends and business opportunities in the retail sector, your
RBC account manager can help you reach more of today’s sophisticated consumers.
Whatever retail business you’re in, there’s an RBC retail specialist ready to help you.
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