I am thinking about opening a tack shop in my town.?

Question

Our nearest tack shop if 45 mins. away. We have a lot of draft and saddle horse people in the area. Could someone give me some ideas or advice on the best way to start this tack shop in this small town?? Thank you!

Answer 1

It sounds like you have a market in need of your services.

The first thing I would look at is investment and capital requirements for the business.

You must have a business plan for the tack shop, very important this is done.

You plan would be a start up plan as you are not an existing business, determine what is most important in your plan.
Form follows function, make the contents of your plan match your purpose and adjust the outline to match your plan.

You will need to have an investors summaries and loan application, when a plan is used to back up a loan application or explain an opportunity to potential investors, it may require a special summary document as well as the complete plan.
Many investors like to see a brief summary, and loan applications do not always require a complete plan.

Time frames, is three years enough? Your plan should project sales by month for the next 12 months, and annual sales for the following two years.

Here is an outline in sequence in a standared business plan

Ezecutive summary

1. Objectives

2. Mission

3. Keys to success

Company summary

1. Company ownership

2. Company history

3. Company facilities and location

Products and services

1. Product and/or services both with discription

2. Competitive comparison

3. Sales literature

4. Sourcing

5. Technology

6. Future products

Market analysis summary

1. Market segmentation

2. Target market segment strategy

3. Market needs

4. Market trends

5. Market growth

Industry analysis

1. Industry participants

2. Distribution patterns

3. Factors of competition

4. Main competitors

Strategy and implemantation summary.

1. Strategy pyramids

2. Value proposition

3. Competitive edge

4. Marketing strategy

5. Positioning statement

6. Pricing strategy

7. Promotion strategy

8. Marketing programs

9. Sales strategy

10. Sales forecasts

11. Sales programs

12. Milestones

Management summary

1. Organization structure

2. Management team

3. Management team gaps

4. Personnel plan

Financial plan

1. Important assumptions

2. Key financial indicators

3. Break - even analysis

4. Projected profit and loss

5. Projected cash flow

6. Projected balance sheet

7. Business ratios

8. Long term plan.

I hope this help you a little.

Peace