Business Plan: Market Plan Advice

[calgon]

I am currently in the process of writing a business plan for a retail beer/wine store as well as a small tasting room, and I am stumped when it comes to making a marketing plan. I have gathered some secondary market research as well as local demographic data but cannon put it into a plan. If anyone has any advice or can help with some direction I would greatly appreciated it.

 

[Robertsndr68]

Marketing plans come in all shapes and sizes but one of my favorite methods of marketing for small businesses is to start slowly with print and radio advertising leading up to an opening/"grand reopening" (which is another good marketing ploy to renew interest in an established company) and then right before the opening you ramp up advertising with social media, local cable tv, and local papers public bus ads billboards to garner some big buz for the company. Then in the weeks to follow you keep regular radio and print ads going to keep the excitement surrounding the product/company alive. Another important aspect is making sure you have money invested in a dynamically interactive web site that is fun for users to navigate or look through. Obviously I don't know a ton about your exact situation ie. City, budget, staff but this is the route I would try to develope to showcase the unique beers and wines your store will be offering. Hope that helps even a little.

Cheers

 

[Robertsndr68]

P.s. advertise with google. Spend the time to make a google places page, a yelp account etc...

 

[RaschNuts]

If you need help on a website let me know I would be more then happy to help.

 

[calgon]

Thanks for the responses guys. I have thought about advertising, grand opening ect. and I understand the need to create a buzz (which is very easy in my small town) and Robert you have given me a lot of ideas. But I think my biggest problem is applying this to a plan and presenting it to a lender. Ideas,marketing, and promotion is something I can do. But showing market research, demographics, industry statistics etc. is what I am having trouble with. I am just unsure how to write it out. I do have a template that I am using from http://www.score.org that has helped me tremendously.

 

[Robertsndr68]

I can send you my market research term project that I got an A on haha it's like 42 pages long full of census bureau goodies and market segmentation demographics. My professor is a market research guru. It's obviously based on something else but it will clearly show you how to lay out marketing research info on a report format.

 

[fady]

A marketing plan involves much more than an advertising campaign.
The best way to represent data such as demographics and market research is through graphs/charts.
It will help to visualize the data and pick up market trends.
What you're showing should dictate the graph/chart you use (pie chart for demographics/line graph for market trends etc).
You can then highlight and explain the points you're trying to push.

 

[fady]

You might also want to look at indirect competitors.
Other things you might want to include in your plan are:
Positioning (4Ps)
SWOT analysis
PEST analysis

You have probably already included some of these in your business plan.

 

[calgon]

Lots of great info fellas.

Fady I have already done quite a bit of reading about the 3 things mentioned above and I am getting a sense of what i need.

Robert I would love to read your market research project. Maybe not all 42 pages lol. Ill send you a PM.

I have been stopped on this project for a couple of weeks and I was very unsure of what to do. Now I have a very good idea where to start.

Thank you both.
Steve

 

[Cigary43]

You're getting some good advice and your biggest issue is funding which is why you need to have a proper business plan that will ensure that the lender thinks you will be successful. You can have all the charts and graphs you can carry in but a Lender has to know that the risk is credible. It comes down to proven techniques of how you will be successful and picking the brain of another Lender first. They will help give you the ingredients of how to bring your program to your chosen Lender...Lenders do want your business but it has to be a venture that will succeed before they risk their capital. Have you checked local Venture Capitalists in your area...have you talked with local business entrepenaurs that will usually help you with great advice..esp. those who closely can identify what you are trying to do? Not somebody that you would likely be a competitor but a business that mirrors what it is you want to do? Nothing beats advice from those who have done what you are trying to do. You'll likely find that those who share the same type of business in another locale will give you the best advice....why? Because they've done it already and will put you on the fast track to success. Offer to take the person to lunch...nothing spells success quicker than following those who have already been successful.

 

[bballbaby]

Best of luck to you. being self-employed is SOOOOO worth the headache; knowing that all your blood, sweat and tears is all for you and not for someone else is so very satisfying.