Get the information you need to launch your small business in a physical space.
A well-thought-out business plan provides a solid blueprint for any new business venture and gives stakeholders insight into operations. This chapter walks you through the elements that a detailed plan should include, from deciding on a business type to anticipating contingencies.
Establishing a new business requires a broad financial strategy that will help obtain funding and prove the viability of your planned operations. This chapter covers the five essential steps in the financial planning stage and provides tips for determining rent, assessing value and finding investors.
Bringing your concepts to life requires a full understanding of the build-out process. This includes knowing what professionals you will need to hire as well as the legal concerns that will need to be considered and addressed.
Laying the Groundwork
Creating Your Business Strategy
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Managing Capital
Estimating Costs + Budget and Securing Funding + Financing
(Co-Authored with LISC)
Calculate rent
Estimate startup costs
Draft profit and loss projections
Seek funding and financing
Explore incentives and partnerships
Establish site search criteria
Engage a broker
Conduct due diligence
Sign a lease
Plan for flexibility
Site selection can affect your business success and requires thorough research and location consideration. This chapter covers the details that go into locating a brick-and-mortar store and addresses top questions in this phase: How can a broker save time and money? What to look for in reviewing your lease before signing? Why is due diligence necessary?
Narrowing the Search
Identifying the Right Real Estate
Setting Up Shop
A Commercial Space
Readiness Guidebook
Choose a business entity type
Form a legal and protected entity
Create a business plan
Assemble your team
Create an omnichannel strategy
Create an exit strategy
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Building the Vision
Designing and Constructing Your Space
Understand the process
Design your brick-and-mortar experience
Obtain required municipal approvals
Getting to Launch
Marketing Your Business
Finally, it’s time to advertise your new business and create awareness of your brand. The final chapter focuses building a multi-layered promotional plan that includes an effective website, branding, communications, budgeting, customer marketing, public relations efforts and more.
Create and maintain an online presence
Attract and retain customers through marketing
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