Presented by: The Collaborative for Innovative Social Enterprise Development (CISED) 1.

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<p>Business Plan Competition April 27, 2006 Workshop</p> <p>Introduction to Business Planning &amp; Market Research</p> <p>Presented by:</p> <p>The Collaborative for Innovative Social Enterprise Development (CISED)</p> <p>11CISED workshops overview2Workshop # 1 &amp; 2: What is Social Enterprise?Is our idea a good one? Are we ready?Workshop #3 &amp; 4: How do I make a business plan? What social costs/accommodations do I need to consider?Workshop #5 &amp; 6: How can I market my products? How do I manage the $? Workshop ObjectivesDevelop:the barebones of a business plan to get you started</p> <p>Develop:a strategy for doing market research </p> <p>Increase:your knowledge about resources available to help with market research and business planning</p> <p>33Workshop Agenda Part IBusiness Model CanvasDo a sample canvas for Cycle Salvation togetherYou do a canvas for your enterprise</p> <p>Attached is an excerpt of the CS marketing plan which I feel is ready for implementation. The attached includes the objectives, strategies, and related workplans which are based on the audit that was done in late summer. If you would like to see the full plan or audit findings, pls let me know.Any feedback is welcome thx. 4</p> <p>4Workshop Agenda Part IIMarket ResearchBackground infoDesign your own market research strategy </p> <p>5</p> <p>Workshop Agenda Part IIIWhere do I go from here?Who is your business plan for?Who should do it?When &amp; How should I do it?</p> <p>6Business PlanningBusiness Plan Model</p> <p>Idea GenerationConcept Development &amp; TestingKey Strategic IssuesStrengths</p> <p>Weaknesses</p> <p>Opportunities</p> <p>Threats</p> <p>PlanningChallengesBusiness PlanDescriptionProduct/ServiceMarket AnalysisMarket PlanOperational PlanFinancial PlanRisk Analysis </p> <p>Contingency PlanDescriptionProduct/ServiceMarket AnalysisMarket PlanOperational PlanFinancial PlanRisk AnalysisStrategic Review, Implementation, and Assess Results8</p> <p>9</p> <p>Your Turn!Napkin FinancialsQuick Costing dont worry about accuracyDont forget costs like:InsuranceAdministrationWebsite design &amp; marketingMaterialsEquipmentRent &amp; UtilitiesHR costs</p> <p>10Group Survey ActivityWhat questions do you have now? What do you need to know?Chose one question to survey the group withi.e. How much would you pay for a used bike?Write the question on your flip chart paperUse your post-its to answer each others questions11What is market research?Ongoing, orderly, objective way of learning about products, people, &amp; bizsGathering, recording, analyzing information</p> <p>what is the need ?who needs/wants it ?who is willing and able to pay ?how much do they need? and when? and where? 12</p> <p>12Why do market research?Ensure there are enough potential buyers to make your venture financially feasible</p> <p>Get it RIGHT the right product, at the right price, at the right time, in the right place.</p> <p>1313Primary ResearchWhat we did in the earlier exerciseMost common methods:PollsQuestionnairesFocus groupsProduct or service samplingMystery shopping</p> <p>14Secondary Market ResearchAdvantages:Relatively cheap and easily accessible</p> <p>Disadvantages:Not specific or focusedMay be biased or difficult to validate</p> <p>Use reliable sources15</p> <p> Small Business Profiles(http:www.ic.gc.ca/eic/site/pp-pp.nsf/eng/home)SME Benchmarking Tool</p> <p>Compiled by Stats Can:NAICS numberGeographic area / year</p> <p>Shows:Types of expensesNet profit/lossPercentage profitable</p> <p>1616SME NAICS 72232 (Caterers)Statistics Canada2006 Small Business Profiles OntarioNAICS Number: 72232 Caterers Average of all bizsWhole IndustryLower Half (50%)Upper Half(50%)Bottom Quartile(25%)Lower Middle(25%)Upper Middle (25%)Top Quartile(25%)Percent of bizs reportingNumber of bizs1199Revenue rangeLow value ($000)30301173063117298High value ($000)500011750006311729850001717SME NAICS 72232 (Caterers)Whole industry </p> <p>(% of revenues)Bottom QuartileLower MiddleUpper MiddleTop Quartile% of bizs reportingTotal revenue100100100100100Cost of sales - wages1.12.85.512.428.7- purchases31.841.542.141.089.3Operating expenses- Labour 6.46.913.116.855.1 Rent7.36.17.06.656.3- Adv &amp; promo1.31.11.11.764.5Total expenses85.889.294.8100.499.9Net profit/loss14.210.85.2-0.499.91818Market Research PlanWorksheet #2Start working on your plan, focus on the 2nd column Jill will come around to offer suggestions</p> <p>Secondary Source ExamplesIndustry CanadaStatistics CanadaOttawa Neighborhood StudyOttawa.ca19Where do I go from here?Business Plan StrategyWho is it for? Why are you doing it?How does this change your approach?Pro and cons of an internal staff member vs. hiring an external consultant20Business Plan ResourcesCISED materialsWhat should your business plan include?Benefits of Business Planning &amp; 10 TipsStart-Up Business Plan FormatHow to hire an external consultant to do a business planCyclists Kitchen Feasibility Study &amp; Business PlanMarket Research Hand-out from OPL</p> <p>Samples and templatesGale Virtual Reference Librarywww.bplans.comSocial Enterprise Guide - enp21Business Assistance from the Ottawa Public LibraryJill HawkenMain library120 Metcalfe StreetJill.Hawken@BiblioOttawaLibrary.ca613.580-2424 ext 32140Krista WoltmanNepean Centrepointe101 Centrepointe DriveKrista.Woltman@BiblioOttawaLibrary.ca613.580.2424 ext 41467Email a question directly to business servicesBusiness@BiblioOttawaLibrary.ca 22Wrap-up &amp; QuestionsSummary</p> <p>One thing that came into focus</p> <p>One thing that is still out of focus23</p> <p>23</p>

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