Here is how to write an eyewear manufacturing business plan.
Part of the requirements for starting a business includes having a strategy by which your operations will be coordinated. This applies to all types of healthcare-focused businesses including one specialized in eyewear manufacturing.
EYEWEAR PRODUCTION BUSINESS PLAN GUIDE
So, are you interested in starting your own eyewear manufacturing enterprise?
You’ll find this guide worth every second of your time.
This covers the key areas of what a good eyewear manufacturing business plan should look like. With such a guide, your plan is well organized and helps you easily achieve your aim.
The Building Blocks of a Good Plan
A systematic approach should be adopted when developing your plan.
Certain sections are critical to the success of your plan. These include the executive summary, company description, and the products & services sections.
More sections to cover are the market analysis, strategy & implementation, organization & management team, and also the financial plan & projections sections. Let’s proceed to discuss each of these key areas for your benefit.
i. Executive Summary
As far as the executive summary section of your eyewear manufacturing plan is concerned, the reader gets a more compressed view of what it’s all about. In other words, this is a summary of your business plan.
This is necessary to help the reader capture the essence of your plan.
From the executive summary section, the reader decides whether to find out more about the business or not.
In most cases, the reader here is the investor or money lender. While the executive summary section comes first in order of arrangement, it’s not necessarily so when developing the plan.
To ensure that key areas of the plan are covered, the executive summary should be written last.
It consists of a few pages (about 3 to 5 pages long). So what are the contents of this section? Key areas should include your business name & location, and the products & services subsections.
Other subsections to include are the mission & vision statements, and the purpose or aim of the plan.
Business Name & Location
For any serious business, information on its name and location should be provided.
It’s expected that you’ve gone through the process of picking a suitable name for your eyewear manufacturing business. Where will this business be sited or located? Supply such details before proceeding to the next section.
Products & Services
While it’s expected that an eyewear manufacturing business will be involved in producing eyewear-related products and services, further details should be supplied.
A glance through your products and services section should be enough to inform your audience.
There’s a dedicated and wider section for all products and services within the main plan. As such, only the basics should be included here. These can be categorized to ensure it doesn’t take much time and space.
Mission & Vision Statements
Within a few sentences, the essence of your eyewear manufacturing business should be captured. The philosophies underlying your business’ goals are highlighted by the mission statement.
Of course, it should reflect your business’ special niche.
Based on your goals and aspirations, your vision should provide a clear mental image of what the business is about. Where do you want to take your eyewear manufacturing business?
It should be such that inspires you and your staff towards the attainment of set goals.
Purpose of the Plan
Every plan has a purpose and so should yours. What exactly is your purpose? Is it to set strategies, secure investors, or designed to achieve both?
ii. Company Description
The company description section is where a fuller detail of your eyewear manufacturing business is provided. It covers key areas such as your business’s legal structure, its brief history as well as needs or problems you intend to fill or solve.
The company description also includes an overview of eyewear manufacturing products and services. Have a summary of company growth included with relevant market and financial highlights.
The company description section won’t be complete without mention of your short and long-term goals.
iii. Products & Services
As the name suggests, this is where all details relating to products and services to be provided or presently provided by your business are included.
Customer benefit is where it all boils down to. So, you’ll need to include an explanation of the market role of your products, as well as the life cycle of such products.
Are there any relevant data relating to product copyrights or patents?
Have such details included under this section? Any ongoing and concluded research and development activities giving birth to new products should be added here.
iv. Market Analysis
The bulk of work associated with writing a business plan is taken up by the market analysis section.
Here, you want to demonstrate your industry knowledge by providing information on key areas of operation. Such areas include industry descriptions of your eyewear manufacturing business.
Every business has a targeted customer segment. Have such information included with a sketch provided for easy understanding. What are the historical, current, and projected marketing data for your products?
Also, an assessment of your competitors is crucial. Areas to focus on including their strengths and weaknesses.
v. Strategy & Implementation
Having a sales and marketing strategy is crucial. Equally important is its implementation. So, how will you promote your eyewear manufacturing business to clients?
This highlights your entry into the market. Provide further details on key areas like promotions, costing & pricing as well as product distribution.
vi. Organization & Management Team
There’s hardly any progress without an organized management team. This is where details on the organizational structure of your eyewear manufacturing business should be provided.
Begin with a description of departments and key employees.
Next, include details about owners, their names, and the extent of involvement. More details include their percentage ownership of the company and their biography. Your management team shouldn’t be left out.
Include their profiles and also provide information on advisors if any.
vii. Financial Plan & Projections
The financial plan and projections sections should be written only after completing your market analysis and setting definite goals. If you aren’t a financial expert, consider getting one.
The services of a professional accountant should perfectly serve this purpose.
Here, historical financial data covering balance sheets, income statements, and cash flow statements spanning the past three years should be added. There are also realistic prospective financial data.
This is largely forecasted and touches key areas like the income statements and balance sheets.
Others include the cash flow statements, capital expenditure budgets, and an analysis of financial data.
With these sections included and fully discussed, your eyewear manufacturing business plan should be ready for implementation.