Here is a business plan for starting a membership club.
As an entrepreneur seeking to establish a membership business, one tool you cannot do without is your plan.
Your plan contains all the strategies necessary for successful takeoff and to sustain your business operations. For a lot of people, writing a great plan is an uphill task due to a lack of basic guidance.
MEMBERSHIP BUSINESS PLAN PDF SAMPLE
This article is written to serve as ready help to persons finding difficulty putting together a convincing membership business plan.
With a good plan in place, you should be able to sell your business idea to investors while also taking advantage of the clarity it brings towards implementing your strategies.
Private Members Club Business Plan Outline
To have a comprehensive plan, certain details must be provided.
These are sections that help structure your plan, thus making it more comprehensive to the reader. The contents of the plan also become highly implementable.
They include the executive summary, company description, and the products & services sections.
Others are the market analysis section, strategy & implementation, organization & management team, as well as the financial plan & projection sections.
Each of these sections requires accurate information and must cover a variety of areas relevant to your business.
i. Executive Summary
In a bid to summarize the business plan, the executive summary captures the basics. In other words, it is an overview of the business plan which usually appears at the beginning.
The perception of the plan starts from this section. A lot of times, investors have become disinterested in business ideas simply by reading the executive summary.
The executive summary gives an idea about the viability or otherwise of your membership business. You’ll need to put in all the effort necessary to ensure it’s well written.
Among the sections to cover are the business name & location, the products & services, mission & vision statements, as well as the purpose of the plan.
Business Name & Location
Your membership business name is the identity of the business and should be carefully chosen.
The name combined with the location of the business marks the starting point of what the business is about and what it stands for. You’ll need to be as brief as possible and not take a whole lot of time getting into specifics.
Products & Services
What form of services or products will your membership business offer?
This is where your audience learns about what you do. However, while describing your services and products, you must avoid the temptation of getting carried away by discussing the details.
That should be left for the main section covering this area.
Mission & Vision Statements
Your mission statement should be about clearly communicating what you do, why you do such, how you do it, and the value it brings.
In a nutshell, it should state the purpose of the business. The vision statement on the other hand provides a futuristic outlook about the business with a clear goal the business seeks to achieve.
Purpose of the Plan
Your membership business plan must have a purpose for it to strive towards. Different businesses have their various purposes which are all patterned towards growth and expansion.
It doesn’t matter if your goal is to attract funding or simply to set strategies. You’ll need to provide such here.
ii. Company Description
This is where further details about your membership business plan will need to be provided. It will require providing vital information such as the legal structure, and a summary of short and long-term goals or plans.
You must also cover details regarding the history, nature of business, and demands you wish to fill.
What more? Providing details about financial and market highlights is key information to add here. The company description won’t be complete without giving information on services and products as well as potential clients.
iii. Products & Services
A fuller detail about services and products offered by your membership business is found here.
A clearer idea of what this entails is seen from the angle of benefits derived by the client. Also necessary is the market role of your service and its advantages over those of your competitors.
Are there ongoing research and development activities leading to the development of more services and products? Add such information here as well.
iv. Market Analysis
The accuracy of your market analysis determines how well your membership business performs.
It also shows how knowledgeable you are about your industry, hence leading to added confidence in your ability to succeed. You’ll need to provide a sketch of targeted customer segments.
Such must be accompanied by the size and demographics for better context. An assessment of the strength and weaknesses of your competitors should also be touched on.
Offer an industry description and outlook with relevant statistics to highlight the opportunities inherent.
v. Strategy & Implementation
Your sales and marketing strategies are crucial to your audience. Investors will want to know details about how you intend to promote or market your membership business including market penetration strategies.
Have all costs or pricing details fully covered as well as distribution where applicable.
What are your labor sources and how many employees will you be engaging? Information on the operational cycle will be of added benefit.
vi. Organization & Management Team
The success of your membership business to a greater extent will depend on the quality and organization of your workforce. You should provide an organizational chart with clear descriptions of departments and key employees.
Who are the owners of the membership business?
Cover such details with information on names, percentage ownership, the extent of involvement, as well as skills and other relevant information.
Information on your management team has to be also covered. Areas to focus on include names, positions, main responsibilities, and prior experience.
v. Financial Plan & Projection
This is a more technical section of the plan that requires professional input. An accountant will best provide the needed financial breakdown under this section.
The vital points covered here include historical financial data, as well as realistic prospective financial information among other details.
Your membership business plan will be well written when all points above are carefully covered or discussed.
Find what works for your type of business and be diligent in understanding how they impact your operations before writing your plan.