In Demand Business Plans - How To Start A Furniture Repair Center: A Complete Furniture Repair & Upholstery Business Plan

Smashwords Edition

Copyright 2014 Monkey MooPublishing

All rights reserved.

This book and the contents of thisbook are property of Monkey Moo Publishing. All rights arereserved.

Any reproduction of this book or thecontents of this book, in whole or in part, for purposes other thaninclusion in a personal business plan, are prohibited by law,without the written consent of the publisher. It may not bereplicated by any means, including, but not limited to, electronicor mechanical, including, but not limited to, transcribe orrewrite, recording, photocopying, or any other duplication method,for the purpose of financial gain, other than indirectly throughthe production of a successful business plan.

The plan outlined in this book is acompilation of research and experiences of the In Demand BusinessPlans management team. Although many of the suggestions describedhave been proven to be enormously successful, they alone cannotguarantee success. Therefore, the author assumes no responsibilityfor the success or failure of one or any of these steps containedin this book.

All company names, product names,websites, trademarks, and web content are acknowledged to be theproperty of their respective owners. Their place in this book iffor reference only and are not bound to the rules and examplesprovided in this book. Nor is the author contractually obligated orcompensated in any way for their use.

Furthermore, any tax liability orlegal requirements and responsibility of the business owner are onthe business owner alone. Monkey Moo Publishing, In Demand BusinessPlans, and its management teams are not responsible for thebusiness owners actions, and are only providing the framework forthe business structure.

Congratulations on purchasing this book. Thatmay sound odd, but it is a very big step forward to building yourbusiness plan and starting your own business. Starting, owning, andoperating your own business is not only the American dream, butalso the pathway to wealth.

A business plan is critical to establishingthe right strategy and to taking the steps needed to ensure yoursuccess. Some analysts say a business plan increases the odds ofsuccess by four times. Your investment in this business plan is asmart one. As you will see, it will only contribute to yoursuccess.

This book, unlike so many others writtenabout business plans, has actually done most of the work for you.While most books are vague and just point you in the rightdirection, sometimes those directions can get you more lost thanyou already were. This book is not a basic template. This booktakes a completed Furniture Repair & Upholstery Business Planand provides it to you with all the additional information you willneed to complete your own. Rather than a one sentence explanationfor each section that directs you to write down all the detailsabout staffing, the needed facility, and long term plans, we havedone it for you. We have put together all the details you need andyou can use them word for word. Sure you might want to tweak it,but the wording is all there. We dont tell you to write a sectionon Management. Instead we wrote it for you.

Furthermore, the pictures included show thecover sheet and financial statements needed to complete the planfor a banker or investor. Rather than tell you to include a RevenueStream Percent to Total Revenue pie chart, we show you what itshould look like.

Our management staff of executives and serialentrepreneurs has built the entire plan so you dont have to. Thefancy words and terms have all been included for you, which willallow you to focus less on building a plan and more on putting itinto action.

First, we recommend that you sit down andread the plan all the way through. As you may see in the table ofcontents, there are 15 sections to a complete business plan. Itshould take about thirty minutes to read the entire book. Dontworry. You do not need to understand every word the first timethrough. But this will help you understand how it all goestogether.

As you will see, the vast majority of yourbusiness plan has been completed for you. With a few tweaks andadjustments your completed business plan will be ready to presentto a bank or investor to secure the start up funding needed to makeyour dreams come true.

Section 1 of your business plan should be theExecutive Summary. The Executive Summary is a recap of the entirebusiness plan. It is the first thing a banker or investor will readto help them understand what the business plan contains.

Modify the paragraphs below for yourbusiness.

Springfield Furniture Repair & Upholsterywill be a start-up furniture repair, upholstery, and used goodsretail establishment that will provide maintenance and repairservices, as well as sell used name brand equipment. The targetcustomer is men and women in the 30 65 year old age group.Springfield Furniture Repair & Upholstery will be located inSpringfield, Missouri, a city with a population of 160,000, locatedin the southwest part of the state. While the initial goal is toopen one repair and retail location, long term plans are tomaintain a long term return of investment and/or sell the operationfor four times annual earnings.

With a focus on maintaining high standards inthe showroom, having an extensive selection of competitively pricedused good, and operating in a clean, safe, high traffic area,Springfield Furniture Repair & Upholstery will have thecompetitive advantage in the regional community and in the industryas a whole. Expenses will be controlled and logistics will beestablished and managed by the owner/ operator, who has a longhistory of managing similar operations.

Springfield Furniture Repair & Upholsteryhas an established financial plan to be in the black after thethird month of operation and achieve a consistently growing netcash flow by the end of year one. Opportunities will be availableto build a solid customer following to support future growth.Springfield Furniture Repair & Upholstery will be a financiallysound, revenue producing business that will be sellable andattractive to buyers who are seeking a solid return on theirinvestment.

Section 2 should be the Market Analysis. TheMarket Analysis describes the industry the business will be a partof. It includes a breakdown of the industry into segments anddescribes the past trends and what is expected in the future.

Modify the paragraphs below for yourbusiness.

The furniture repair and upholstery industryaccounts for $2 billion in sales annually. Yearly sales areexpected to remain steady between 2012 and 2017. This is attributedto a stagnant economy, but one with consumers looking to repairexisting goods rather than purchase new. This is a positiveturnabout considering the industry dropped 3% between 2008 and20012. This reduction is commonly attributed the economic downfallthat produced record low spending on consumer goods andservices.

Although new furniture is sold in big boxretailers all over the U.S., the furniture repair and upholsteryindustry is made up primarily of independent, mom and pop shops.Not just small organizations, approximately 85% of the industry ismade up of one-man-shows. The remaining 15% is made up of regionalcompanies, most of which are little more than one-man-shows.

While the impact of technology isdramatically evolving so many industries, furniture is virtuallyunaffected. While modern technology can be integrated into somefurniture and household fixtures, the traditional home is far frombeing changed based upon these advances.