Music Store Business Plan

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  • Published : September 9, 2012
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1.0 Executive Summary1
Chart: Highlights2
1.1 Mission2
1.2 Keys to Success2
1.3 Objectives3
2.0 Company Summary3
2.1 Start-up Summary3
Chart: Start-up4
Table: Start-up4
Table: Start-up Funding5
2.2 Company Locations and Facilities5
2.3 Company Ownership6
3.0 Products and Services6
3.1 Product and Service Description6
3.2 Competitive Comparison7
3.3 Fulfillment7
3.4 Technology8
3.5 Future Products and Services8
4.0 Market Analysis Summary9
4.1 Market Segmentation9
Table: Market Analysis10
Chart: Market Analysis (Pie)11
4.2 Target Market Segment Strategy11
4.2.1 Market Needs11
4.2.2 Market Trends12
4.2.3 Market Growth12
4.3 Service Business Analysis13
4.3.1 Distributing a Service13
4.3.2 Competition and Buying Patterns13
4.3.3 Main Competitors13
4.3.3.1 Marc's Guitar Center14
4.3.3.2 Music World14
4.3.3.3 Other Competitors14
4.3.3.4 Grandma's Music and Sound15
4.3.3.5 Guitar Center16
4.3.4 Business Participants16
5.0 Strategy and Implementation Summary16
5.1 Strategy Pyramid16
5.2 Value Proposition17
5.3 Competitive Edge17
5.4 Marketing Strategy17
5.4.1 Pricing Strategy17
5.4.2 Promotion Strategy18
5.4.3 Marketing Programs18
5.4.4 Positioning Statement18
5.5 Sales Strategy19
5.5.1 Sales Forecast19
Table: Sales Forecast19
Chart: Sales Monthly20
Chart: Sales by Year20
5.5.2 Sales Programs21
5.6 Strategic Alliances21
6.0 Web Plan Summary21
7.0 Management Summary22
7.1 Organizational Structure22
7.2 Management Team22
7.3 Management Team Gaps24
7.4 Personnel Plan24
Table: Personnel24
8.0 Financial Plan24
8.1 Important Assumptions24
Table: General Assumptions25
8.2 Projected Profit and Loss25
Table: Profit and Loss25
Chart: Profit Monthly26
Chart: Profit Yearly26
Chart: Gross Margin Monthly27
Chart: Gross Margin Yearly27
8.3 Break-even Analysis28
Chart: Break-even Analysis28
Table: Break-even Analysis28
8.4 Projected Cash Flow29
Table: Cash Flow29
Chart: Cash30
8.5 Projected Balance Sheet31
Table: Balance Sheet31
8.6 Business Ratios32
8.6 Business Ratios32
Table: Ratios32
Table: Sales Forecast1
Table: Personnel2
Table: General Assumptions3
Table: Profit and Loss4
Table: Cash Flow5
Table: Balance Sheet6
1.0 Executive Summary

An exciting opportunity currently exists for a full service musical instrument retailer in Sydney. Although there are a number of musical instrument retailers in this city of over 500,000 people, there are currently only three very small school band and orchestral instrument dealers; these stores have small selections and short hours. At the other end of the spectrum (stores with a more guitar and electrical focus), big chains are competing on prices at the expense of customer service.

MusicWest will offer the buying public a superior shopping alternative, with a huge selection of school band and orchestra instruments, plus guitars, keyboards and accessories, at reasonable prices. Our products will be supported by skilled repair services and a knowledgeable and friendly staff, as focused on educating the customer as on closing the sale. We will exploit our competitors' weaknesses by offering ongoing music community events, from free lessons, to music clubs, to after-sale follow up to turn one-time shoppers into lifelong customers. Our unique marketing schemes include "You Play, We Pay" (whereby a portion of instrument sales and rentals are donated to local school band programs) and "100% Money Back" trade up programs, where customers receive 100% of their purchase price toward upgrading their instrument within one year.

MusicWest will focus on the novice, hobbyist, and semi-professional...
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