Thinking of becoming a professional home stager? He has done his research and met with other professionals in the real estate and home design field. Now what? Before you jump right into the hustle and bustle of setting up your home staging business, you must first have a plan. This will help you stay on track and focus on your business goals.
A business plan will help you put your business goals and strategies on paper. Whether you’re writing a detailed formal business plan to present to your loan officer, or it’s just notes and reminders you’ve jotted down in a notebook, a business plan will help your business thrive in the long run. Below are the main parts of a business plan. You can skip some of these parts if you don’t write specifically to apply for funding.
1. Executive Summary.
This comes first, but you have to write it last. After all, it is difficult for you to write the summary of something that you have not even written. This should contain all the important points of your business plan, but remember that it should be short, understandable, and direct to potential investors who are too busy to read the entire document.
2. Description of the company.
This includes a description of the nature of your home assembly business, how you plan to start your business, a profile of the business owners, the location of your business headquarters (this can be your home or a small office), and the facilities owned by your company.
3. Home Staging Services.
It is important that potential investors understand what type of services you are selling. Please specify if you are offering consultation services only or if you also provide other home organization services such as furniture design and rental. Also, identify the competitive advantage of your services compared to other Home Staging services that are already available.
4. Market analysis.
This section requires you to do a bit of market research. Focus on describing your market and the current demand for Home Staging. Be sure to include an assessment of your competition. This will help you decide what marketing strategies to undertake when you start selling your services.
5. Marketing strategies.
This is an essential part of the formal business plan. This section describes how you will promote your business, the costs of your marketing strategies, and how you will determine whether these strategies were effective.
6. Financial data.
If you are still planning to open your home assembly business, this section includes your projected short-term and long-term earnings. For formal business plans, you may need to enlist the help of an accountant to write this part.