7.1 Executive summary

This is an Example of how shold look your Business Plan : 

READYOU will be a sole proprietorship type of business dealing with book sales. The bookshop will be  owned by Nagy Eszter.

READYOU will be establishing its shop in the heart of Budapest, in the downtown, close to the two main  metro stations, within walking distance to the busiest public transport area. This area is well-known for schools, office buildings, entertainment facilities and an important artistic activity as well. Thanks to this location we can reach a large amount of people interested in reading. Our facility is a 210 square meter basement shop inherited from my grandparents and which allows us to stock a large amount of inventory.

As we inherited the location, we will not have to pay any rent which will reduce our costs a lot, which is an important factor mainly in the first year of activity.

We have divided the market into three segments of potential customers :

Casual shoppers

These are customers who go to a bookshop with no set idea of what they want to buy. They spend a lot of time browsing the displayed items and they often leave without buying anything. They can be attracted by low prices and a large inventory with lots of newspapers and magasines.

 Hard to find shoppers

These are customers with very specific needs.They are looking for books that are usually out of print and they usually know very well what they want.

If we can satisfy this type of customer, then we are able to build significant customer loyalty. They are generally less price sensitive and willing to pay a higher price than others for the things they want.

Students

We expect to have readers from primary schools, grammar schools and Universities, too. We established our opening hours so that students could come after classes and spend their time wisely.

We will have a buyback program to lower acquisition costs and allow the customer to discard unwanted literature, newspapers and music. On the other hand, it also allows customers with scarce financial possibilities to get books or music CD’s at a much lower price.

READYOU will offer a wide range of every kind of books and music CD’s, DVD’s at a low price.

Our competitive edge will be the lower prices we will charge our customers and the large selection we offer besides being very flexible.