Your Business Plan
Planning is key to the success of any business, and a business plan should be the foundation of this planning process.
Retailer Advisory Panel member Kishor Patel, uses a business plan as the foundation of his successful retail business,
“By putting a business plan in writing, with your objectives, business strategy and action plan, clearly laid out, you are setting yourself a course to follow over the years, and it serves as a valuable business tool with which to benchmark your achievements against”.
When shared, your business plan can also be helpful in managing your staff, as it will ensure they understand your vision for the store, and their role and areas of responsibility in helping you achieve this. When used in conjunction with a training and appraisal system, it means they are working as effectively as possible.
The business plan template that Kishor uses is available for download below, and we would recommend you complete this based on your store.