electronics shop business plan pdf

Electronics Store Business Plan Template (Download)

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Fully editable 30+ slides Powerpoint presentation business plan template.

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Description OF THE BUSINESS PLAN

This ready-made business plan template is designed specifically for electronics stores, whether you’re opening a retail shop, expanding an online electronics business, or offering a specialized electronics service.

It comes pre-written with all the necessary sections, including a comprehensive business overview, operations plan, and updated market research with 2024 data.

Simply adjust the areas marked with [brackets] to fine-tune the plan with your specific store details, making it quick and easy to customize.

Features of the Electronics Store Business Plan Template

Pre-Written and Customizable: The business plan is fully written, covering all essential aspects of starting and managing a successful electronics store. Simply modify the [bracketed sections] to reflect your unique product offerings, target market, and financial plan.

Complete Business Overview: Present a clear and professional business overview, including your mission, vision, target market, and value proposition. This section is pre-written and ready for you to add in your specific electronics store details.

Operations and Management Plan: Outlines how you will manage daily operations, including staffing, inventory management, supplier relationships, and customer service. Customize this section to align with your store’s size and offerings, whether focused on consumer electronics, repairs, or online sales.

Updated Market Research (2024 Data): This section provides a comprehensive analysis of the electronics industry landscape:

• Key Stats : Industry size, growth trends, and relevant data for the electronics market.
• Key Trends : Recent trends such as demand for eco-friendly products, smart devices, and the rise of online retail.
• Key Competitors : Overview of local competitors and how your store stands out with unique product offerings, customer service, or exclusive brands.

Strategy Section: This section is fully completed and includes:

• Sales & Marketing Plan : A strategy to attract customers, build brand loyalty, and promote your store’s products.
• SWOT Analysis : A detailed look at your store’s strengths, weaknesses, opportunities, and threats.
• Detailed Timeline : A timeline outlining key actions for the first 12 months of operation, ensuring smooth setup and growth.

Financial Projections and Revenue Model: The business plan includes dummy financial projections as an example, helping you understand potential profitability based on typical assumptions.

Please note that the business plan does not come with a detailed financial model. However, you can purchase and download the separate financial model template, which is explained further below on this product page.

How to Use the Electronics Store Business Plan Template

• Download and Open : Purchase and download the template, then open it in Microsoft Word or Google Docs.
• Customize with Your Details : Modify the [bracketed sections] with your specific business information, such as product offerings, market research, and financial data.
• Complete Financial Projections : Use the example financial projections as a guide or integrate your own numbers with the optional financial model, which can be purchased separately.
• Finalize Your Plan : Review and fine-tune the content to create a polished business plan ready for investors or guiding your electronics store’s operations.

What's inside

This template is already completed and include everything you need in a business plan:

• Executive summary
• Business overview
• Market research
• SWOT analysis
• Competitive landscape
• Management team
• Sales & marketing plan

The business plan shown here is an example from the Cryotherapy business plan template.

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Electronics Store Financial Model

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Home » Sample Business Plans » Wholesale & Retail

A Sample Electronics Retail Store Business Plan Template

Do you want to start an electronics store and need to write a plan? If YES, here is a sample electronics store business plan template & feasibility report. Businesses that are worth going for is a business that you are certain people would need your services or products either every day or at least once a week.

Why Start an Electronics Retail Store?

An electronics retail store falls into this category. Part of what you need to do to make headway in this line of business is to ensure that your store is intentionally positioned and you a have good business relationship with manufacturers and wholesale suppliers of various types of electronics.

One good thing about this type of business is that you don’t need to enroll in a conventional business school to learn how to start and run this type of business; it is a business that requires basic business skills such as knowledge of electronic gadgets, customer service, accounting skills, bargaining skills, networking skills, etc.

If you have decided to start an electronics retail store business, then you should ensure that you carry out feasibility studies and also market survey. Business plan is yet another very important business document that you should not take for granted when launching your own business.

Below is a sample electronics retail store business plan template that can help you to write your own with little or no difficulty.

1. Industry Overview

Electronics retail store business is part of the consumer electronics industry and this industry consists of businesses that are into the sale of a wide range of new appliances, electrical goods and home entertainment products. Many stores also offer repair services and some stores sell used goods.

Consumer electronics and appliances are staples in US households and include a wide range of items, from DVD players to refrigerators. The Consumer Electronics Stores industry, which largely relies on discretionary purchases, has been plagued by increasing external competition over the last five years.

Statistics has it that in the united states of America alone, there are about 51,615 registered and licensed consumer electronics retail stores responsible for employing about 329,256 people and the industry rakes in a whooping sum of $86 billion annually.

The industry was projected to grow at -2.2 percent annual growth within 2014 and 2019. Please note that the companies holding the largest market share in the Consumer Electronics Stores in the US industry include Best Buy Co. Inc. and GameStop Corp.

A recent report published by IBISWORLD shows that consumer confidence and spending grew over the past five years, but not enough to lift the industry out of its mild decline due to fierce competition from online retailers, discount retailers and department stores.

Considering these difficult conditions, IBISWorld expects industry revenue to fall an annualized 2.2 percent to $85.7 billion over the five years to 2019; this includes a projected decline of 0.2 percent in 2019 alone, driven primarily by improvement in the overall economy of the United States of America.

If you are contemplating opening a consumer electronics retail store in the United States, you should ensure that you carry out thorough market survey and feasibility studies. The truth is that, if you get some key factors wrong before starting your own consumer electronics retail store, then you are likely going to struggle to stay afloat.

2. Executive Summary

Chris Logan® Consumer Electronics Retail Store, Inc. is a registered consumer electronics retail store business that will be located in one of the busiest business districts in New Haven – Connecticut.

We have been able to lease a shopping facility that is big enough (a 20,000 square feet facility) to fit into the design of the kind of standard consumer electronics retail store that we intend launching and the facility is located in the heart of New Haven – Connecticut.

Chris Logan® Consumer Electronics Retail Store, Inc. will retail a wide range of new appliances, electrical goods and home entertainment products to customers and also offer repair services in conjunction with our retail operations.

We are aware that there are several consumer electronics retail store outlets all around Connecticut, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service options for our customers, and our outlet is well secured with the various payment of options. Chris Logan® Consumer Electronics Retail Store, Inc. will ensure that all our customers are given first class treatment whenever they visit our store.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large their numbers grow to. We will ensure that we get our customers involved in the selection of brands that will be on our store and also when making some business decisions.

Chris Logan® Consumer Electronics Retail Store, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a business, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. Chris Logan® Consumer Electronics Retail Store, Inc. is owned by Chris Logan and his immediate family members.

Chris Logan has a B.Sc. in Business Administration, with over 10 years’ experience in the Consumer Electronics Stores industry, working for some of the leading brands in the United States. Although the business is launching out with just one outlet in New Haven – Connecticut, but there is a plan to open other outlets all around major cities in the United States of America via the sale of franchising.

3. Our Products and Services

Chris Logan® Consumer Electronics Retail Store, Inc. is in the Consumer Electronics Stores industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to make available a wide range of consumer electronics from top manufacturing brands in the United States and other countries of the world.

Some of the products in our store are listed below;

• Retailing new household appliances (e.g. refrigerators, washing machines and ovens)
• Retailing new personal appliances (e.g. hair dryers, curling irons and electric razors)
• Retailing consumer electronics (e.g. radios, TVs, digital cameras, video games and computers)
• Retailing mobile phones, smartphones and accessories
• Offering repair services in conjunction with retail operations.

4. Our Mission and Vision Statement

• Our vision is to become the leading brand in the Consumer Electronics Stores industry in Connecticut and to establish a one stop consumer electronics retail store chains in New Haven and in other key cities in the United States of America.
• Our mission is to establish a world – class consumer electronics retail store business that will make available a wide range of consumer electronics from top consumer electronics manufacturing brands at affordable prices in New Haven – Connecticut and other key cities in the United States of America via franchising.

Our Business Structure

Chris Logan® Consumer Electronics Retail Store, Inc. is looking towards building a standard business that can be listed among the top – flight consumer electronics retail stores not just in New Haven – Connecticut but throughout the United States of America.

For that singular reason, we will make sure that establish the business on a solid business structure. As a result of business goal, we will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager
• Human Resources and Admin Manager
• Merchandize Manager
• Accountants/Cashiers

Sales Girls and Sales Boys

Truck and Van Drivers

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Store Manager:

• Responsible for managing the daily activities in the store/warehouse
• Ensures that proper records of consumer electronics are kept and warehouse does not run out of products
• Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate
• Interfaces with consumer electronics manufacturers
• Controls consumer electronics distribution and supply inventory
• Supervises the workforce in the consumer electronics sales floor.

Merchandise Manager

• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of consumer electronics are purchased and retailed/supplied in good price that will ensure we make good profit
• Responsible for the purchase of consumer electronics for the organizations
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Ensures that the organization operates within stipulated budget.

Accountant/Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization
• Assists in loading and unloading goods/consumer electronics
• Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
• Keeps a record of vehicle inspections and make sure the truck is equipped with safety equipment, such as hazardous material placards.
• Assists the transport and logistics manager in planning their route according to a pick-up and delivery schedule.
• Inspects vehicles for mechanical items and safety issues and perform preventative maintenance
• Complies with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
• Collects and verifies delivery instructions
• Reports defects, accidents or violations
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Responsible for monitoring and recording inventory and stock levels, electronic sales associates periodically check inventory, comparing it to expected levels, taking note of discrepancies or missing stock.
• Help customers choose electronic equipment and devices, such as mobile phones, televisions, game consoles, and computers.
• In addition to selling electronic equipment and devices, he/she also process returns and exchanges, inspecting returned items for signs of damage as they process returns via cash or credit card. Additionally, enter returns in the store’s point-of-sale (POS) system and return items to inventory or to shelves.
• Support sales goals by promoting value-added items such as extended warranties and device insurance. They present customers with information regarding replacement costs and insurance coverage, usually during the checkout process.
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries

6. SWOT Analysis

Any profitable business or a business with prospects is bound to be competitive and as a new business you must be ready to compete in the industry and competing in the industry means that you must follow due process of establishing a business.

We are quite aware that there are several consumer electronics retail stores all over New Haven and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.

Chris Logan® Consumer Electronics Retail Store, Inc. employed the services of an expert HR and Business Analyst with bias in supply store chain business to help us conduct a thorough SWOT analysis. This is the summary of the SWOT analysis that was conducted for Chris Logan® Consumer Electronics Retail Store, Inc.;

Our business is located in a city with people with high purchasing powers and also, we can boast of having good business relationship with top manufacturers in the consumer electronics manufacturing industry and wholesale distributors in and around New Haven – Connecticut.

A major weakness that may count against us is the fact that we are not yet a major wholesale distributor, we are a new consumer electronics retail store outlet and we don’t have the financial capacity to compete with multi – million dollar stores when it comes to retailing consumer electronics at a rock bottom price.

• Opportunities:

Products sold by consumer electronics stores are often discretionary. Therefore, a rise in per capita disposable income increases consumers’ propensity to purchase industry goods, leading to growth in demand. Per capita disposable income is expected to increase in the coming year, representing a potential opportunity for the industry.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they order consumer electronics from us; we are well positioned to take on the opportunities that will come our way.

Online retailers are major competitors to industry operators. These retailers sell consumer electronics and appliances, often at lower prices than consumer electronics stores due to the lack of fixed costs, attracting customers away from industry players. The percentage of services conducted online is expected to increase in the coming year, representing a potential threat to the industry.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the Industry, you will quite agree that the changes in disposable income, consumer sentiment, ever changing trends and of course the rate of homeownership are major growth drivers for this industry. No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth.

So also, the rising demand for both building renovations as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as consumer electronics retail stores keep prices low to attract more sales amid growing competition.

A close watch on industry activities reveals that the retail market for consumer electronics was hit hard by the recent economic downturn and experienced a decline in revenue in recent time. The construction of new homes is a primary market for industry products, so as housing stats increase, demand tends to follow. Moreover, as home builders have increased their use of electronics, demand for complementary consumer electronics has risen.

8. Our Target Market

We have positioned our consumer electronics retail store to service residents in New Haven – Connecticut and every other location where outlets will be located. We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.

We are in business to supply a wide range of consumer electronics to the following;

• Home Remodeling Companies
• Facility managers
• Households in and around our store locations

Our Competitive Advantage

A close study of the consumer electronics industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We are aware of the stiff competition and we are prepared to compete favorably with other leading stores in New Haven – Connecticut.

One thing is certain, we will ensure that we have a wide range of consumer electronics available in our store at all times. It will be difficult for customers to visit our store and not see the type of consumer electronics that they are looking for.

One of our business goals is to make Chris Logan® Consumer Electronics Retail Store, Inc. a one stop consumer electronics shop. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Chris Logan® Consumer Electronics Retail Store, Inc. is in business to retail a wide range of consumer electronics to residents of New Haven – Connecticut. We are in the industry to maximize profits and we are going to ensure that we achieve or business goals and objectives.

Chris Logan® Consumer Electronics Retail Store, Inc. will generate income by;

10. Sales Forecast

One thing is certain when it comes to consumer electronics retail stores, if your store is stocked with various types of consumer electronics and centrally positioned, you will always attract customers.

We are well positioned to take on the available market in New Haven – Connecticut and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.

We have been able to examine the Consumer Electronics Stores industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below is the sales projection for Chris Logan® Consumer Electronics Retail Store, Inc., it is based on the location of our business and other factors as it relates to consumer electronics retail stores startups in the United States;

• First Fiscal Year (FY1): $350,000
• Second Fiscal Year (FY2): $550,000
• Third Fiscal Year (FY3): $750,000

N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor retailing same consumer electronics within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for Chris Logan® Consumer Electronics Retail Store, Inc., we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become the preferred choice for key players in the industry of New Haven – Connecticut.

We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time. We hired experts who have good understanding of the industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in New Haven – Connecticut.

In summary, Chris Logan® Consumer Electronics Retail Store, Inc. will adopt the following sales and marketing approach to win customers over;

• Introduce our consumer electronics retail store by sending introductory letters alongside our brochure to offices, home remodeling companies, households and other key stake holders in New Haven – Connecticut
• Ensure that we have a wide range of consumer electronics from different manufacturing brand at all times.
• Make use of attractive hand bills to create awareness and also to give direction to our consumer electronics retail store
• Position our signage / flexi banners at strategic places around New Haven – Connecticut
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us reward our regular customers
• List our business and products on yellow pages ads (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our store is well located, we will still go ahead to intensify publicity for the business. Chris Logan® Consumer Electronics Retail Store, Inc. has a long – term plan of opening outlets in various locations all around Connecticut, which is why we will deliberately build our brand to be well accepted in New Haven before venturing out.

Here are the platforms we intend leveraging on to promote and advertise Chris Logan® Consumer Electronics Retail Store, Inc.;

• Place adverts on community – based newspapers, radio stations and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms and other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around New Haven – Connecticut
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Advertise our consumer electronics retail store business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and trucks and ensure that all our staff members and management staff wear our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to consumer electronics retail stores, it is normal for consumers to go to places where they can get cheaper prices which is why big player in the industry attract loads of clients.

We know we don’t have the capacity to compete with multi – million – dollar consumer electronics retail stores but we will ensure that the prices and quality of all our electronics are competitive with what is obtainable amongst consumer electronics retail stores within our level.

• Payment Options

The payment policy adopted by Chris Logan® Consumer Electronics Retail Store, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Chris Logan® Consumer Electronics Retail Store, Inc. will make available to her clients;

• Payment via bank transfer
• Payment via credit cards
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for purchase of our consumer electronics without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

From our market survey and feasibility studies, we have been able to come up with a detailed budget of establishing a standard consumer electronics supply business in New Haven, and here are the key areas where we will spend our startup capital;

• The total fee for registering the Business in New Haven – Connecticut – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Chris Logan® Consumer Electronics Retail Store, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The cost for hiring Business Consultant – $2,500.
• Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $65,600.
• The cost for shop / warehouse remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for start-up inventory (stocking with a wide range of electronics such as new household appliances (e.g. refrigerators, washing machines and ovens), new personal appliances (e.g. hair dryers, curling irons and electric razors), consumer electronics (e.g. radios, TVs, digital cameras, video games and computers) and mobile phones, smartphones and accessories et al) – $250,000
• The cost for counter area equipment – $9,500
• The cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost of purchase and installation of CCTVs – $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
• The cost of launching a Website – $600
• Miscellaneous – $10,000

We would need an estimate of five hundred and fifty thousand (450,000) US Dollars to successfully set up our consumer electronics retail store in New Haven – Connecticut.

Generating Funds/Startup Capital for Chris Logan® Consumer Electronics Retail Store, Inc.

Chris Logan® Consumer Electronics Retail Store, Inc. is a private business that is solely owned and financed by Chris Logan and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from the bank

N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $400,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

Part of the plans we have in place to sustain Chris Logan® Consumer Electronics Retail Store, Inc. is to ensure that we continue to make available a wide range of consumer electronics, retail our products at competitive prices, improvise on how to do things faster and cheaper. We are not going to relent in providing conducive environment for our workers.

From our findings, another factor that kills new business is financial leakages. In order to plug financial leakages, the management of Chris Logan® Consumer Electronics Retail Store, Inc. adopt the use of payment machine and accounting software to run the business.

We are quite aware that our customers are key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better. Chris Logan® Consumer Electronics Retail Store, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of.

Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check : Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the shop: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Packaging and Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Purchase of initial supply of household appliances (e.g. refrigerators, washing machines and ovens), new personal appliances (e.g. hair dryers, curling irons and electric razors), consumer electronics (e.g. radios, TVs, digital cameras, video games and computers: In Progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Compilation of our list of products that will be available in our store: Completed
• Establishing business relationship with vendors – manufacturers of consumer electronics and wholesale suppliers: In Progress

More on Wholesale & Retail

Business Plan for an Electronics Store

This business plan outlines the key elements for starting and running a successful electronics store.

Executive Summary.

The Electronics Store is a retail business that specializes in selling a wide range of electronic products, including smartphones, laptops, televisions, and home appliances. Our goal is to provide customers with high-quality products at competitive prices, along with exceptional customer service.

If The Electronics Store succeeds, we envision expanding our business to multiple locations, establishing an online presence, and potentially franchising our brand. An exit strategy could involve selling the business to a larger retail chain or attracting investors for further expansion.

About The Electronics Store.

To become the go-to destination for all electronics needs, offering a seamless shopping experience and innovative solutions to enhance our customers' lives..

The Electronics Store offers a wide range of electronic products, including smartphones, tablets, laptops, desktop computers, televisions, audio systems, home appliances, and accessories. We also provide repair and maintenance services for electronic devices.

Market Analysis.

The electronics industry is a rapidly growing market, driven by advancements in technology and increasing consumer demand. Our target market includes tech-savvy individuals, professionals, and families who are looking for reliable and cutting-edge electronic products. With the rise of e-commerce, online shopping has become a popular choice for consumers. However, there is still a significant demand for brick-and-mortar stores that offer a personalized shopping experience and immediate product availability.

Extensive product selection, competitive pricing, knowledgeable staff, convenient location.

High competition, potential inventory management challenges, dependence on suppliers.

Opportunities

Growing demand for smart home devices, emerging technologies, expansion into online sales.

Economic downturn, online competitors, changing consumer preferences.

Marketing Plan

Step 1: create a website.

Build a professional website using Mixo to showcase our products, provide information about our store, and capture potential customers' contact information.

A website will serve as our online presence and allow customers to browse our products, check prices, and contact us for inquiries. It will also enable us to collect email addresses for future marketing campaigns.

Step 2: Social Media Advertising

Utilize social media platforms such as Facebook, Instagram, and Twitter to promote our products, run targeted ads, and engage with our target audience.

Social media advertising is an effective way to reach a large audience and generate brand awareness. We will create engaging content, share product updates, and run promotions to attract potential customers.

Step 3: Collaborate with Influencers

Partner with popular tech influencers and bloggers to review our products, create sponsored content, and reach their followers.

Influencer marketing can help us reach a wider audience and build credibility. By collaborating with influencers who have a strong presence in the tech industry, we can leverage their influence to promote our products and attract new customers.

Financial Strategy

Sales forecast.

Based on market research and projected customer demand, we anticipate steady growth in sales over the next three years. Our sales forecast takes into account seasonal fluctuations and market trends.

Revenue Streams

Our main revenue streams include product sales, repair services, and extended warranty plans. We will also explore opportunities for partnerships and affiliate marketing to generate additional revenue.

Expense Management

We will closely monitor our expenses, including inventory costs, rent, utilities, marketing expenses, and employee salaries. By implementing cost-saving measures and optimizing our operations, we aim to maintain a healthy profit margin.

To fund our startup costs and initial inventory, we will seek a combination of personal investment, bank loans, and potential investors. We will also explore government grants and incentives for small businesses in the electronics industry.

This Electronics business plan was generated with AI on Mixo. Mixo is a Electronics website builder that also offers free Electronics business plan templates that you can use to generate your own business plan.

“I tried three other AI Website builders, and Mixo always came out on top. The interface is easy to understand. The template is simple to use, and customer service is fast, precise, and clear.” Ruby G Edwards (Reviewed on TrustPilot)

Trusted by over 650,000 of the most innovative creators in the world .

Mixo is the trusted, easy-to-use platform chosen by everyone from solo entrepreneurs to employees at Fortune 500 companies for its reliability, quality, and cutting-edge features.

Join our community of makers turning their ideas into startups .

“The ease and speed to create an AI generated website is incredible with Mixo. Plus we loved that our page automatically looked good on any screen size. However, what really sets Mixo apart in our opinion, is their incredible customer service.”

BuddyAI Team

Free Electrical Business Plan PDF Download | Electrical Shop Business Plan

How to Start an Electrical Business - Free Electrical Business Plan PDF Download

Are you considering starting an electrical business and are in need of an electrical business plan? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

Don’t Start a New Electrical Business Unless You Watch This Video First!

Checklist for Starting a Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

Here’s a Valuable Free Gift for You This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your business. Click Here! To get your free business plan template

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate it. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful Internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a Electrical firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of. You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Electrical Business' book:

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your Electrical Business Plan book for free (PDF version)

Management Skills Video: How to Become a Great Manager and Leader

Learn how to improve your leadership skills and become a better manager and leader. Here's how to be the boss people want to give 200 percent for. In the following video you'll discover 120 powerful tips and strategies to motivate and inspire your people to bring out the best in them.

For more insightful videos visit our Small Business and Management Skills YouTube Chanel .

Here're other free books in the "how to start a business" series that may interest you:

Here's a Sample 'Executive Summary' for a Electrical Business plan :

COMPANY NAME ADDRESS CITY, STATE, ZIP CODE Tel.  Fax: Email:

COMPANY NAME is an Electrical Sub-Contractor, primarily doing commercial, industrial, medical and residential. COMPANY NAME offers value engineering for energy evaluation & efficiency. The purpose of the company's plan is to grow in the fields mentioned above as well as branch out into Nevada, Arizona & New Mexico. COMPANY NAME also wants to further the company's market share in the solar/energy and the service industry.

1.1 Objectives

1. To fund growth of existing business & increase market share of our service business 2. Expand into the field of energy/solar 3. With additional capital the ability to bid larger projects.

1.2 Mission

COMPANY NAME 's sole purpose is to establish a profitable and well managed company while at the same time designing to please the local residents with excellent service in California.  COMPANY NAME’s near future plans are to grow the company's electrical contracting business in California and other states such as Nevada, Arizona and New Mexico.  The company will seek to provide these services in the timeliest manner and with an ongoing comprehensive quality control program to provide 100% customer satisfaction.

1.3 Keys to Success

1.  Servicing and maintaining our existing client base 2.  Having employees that understand and implement our high standards 3.  Reliability and communication with clients from beginning of each job to end.

COMPANY NAME is in the city of Orange and has been in the county of Orange since 1994, servicing Los Angeles, Riverside, San Bernardino and San Diego counties. We provide electrical contracting services to a wide range of clients, including owners and general contractors, mainly in the medical field. COMPANY NAME's current corporate office is at [INSERT ADDRESS].   The company's corporate office is a 4,650 sq ft concrete tilt up building. This corporate office houses all administrative operations, with warehouse space used for inventory and service vehicles. All of the work is done at many off-site locations.

2.1 Company Ownership

COMPANY NAME is a privately held C Corporation where OWNER’S NAME is president & secretary and CO-OWNER’S NAME is Vice President.

2.2 Company History

In 2006 and 2007 COMPANY NAME experienced a decrease in sales due to California budget cuts for the company's voice and data division that had provided services to Employment Development Departments.   The decrease in sales was also due to existing clients who were very slow in paying for services rendered.  COMPANY NAME had also made the decision to focus more on the medical field and their primary client base. The company had cut ties with three general contractors and proceeded to establish new contacts within the medical field. The year of 2008 was a great year and COMPANY NAME was on track to double sales; however the economy was starting to slow. 2009 was a respectable year, however, again, due to the economy COMPANY NAME re-evaluated again to expand into solar/energy industry.

Table: Past Performance

3.0 Services

COMPANY NAME 's products are: 1) Design build which is based on a per square foot price. 2) Contract work which is specific to a certain set of blueprints/drawings. 3) Service work that is based on an hourly rate.

COMPANY NAME will focus on four main markets within the industry such as: MEDICAL This field is a viable source of business now and due to ever changing technology a great source of future business that will sustain us long term. SERVICE There will always be a need for service and this is an area that we have never taped into and believe there is great potential. COMMERCIAL/INDUSTRIAL This has been the company's main focus; COMPANY NAME has built great long term relationships with building owners who now look for our guidance in directing their energy improvements. SOLAR/ENERGY We feel we always need to look at new trends and stay ahead of change in our approach to long term sustainability.

How to Organize Paperwork for Business

We must all be efficient and productive in today's business world. Being organized helps you handle tasks quickly so that you have more time and space to do what you truly want to do.

1. One-time mail system.

Have an In Box on your desk for new mail/information. Look at your mail once a day. Review each piece of mail once to decide whether to do it, delegate it or dump it. If it adds value to your business or is required for doing business, do it or delegate it. If not, then dump it. If you keep it, then categorize it using the A, B, C system. Use your time wisely.

2. Categories for performing your work.

Set up desk trays labeled A, B, and C. Items in category A must be handled today. Category B items must be handled this week. Category C items are generally filing that must be kept because they have some value, such as invoices, tax returns, and statements.

3. Prioritize your work within categories A and B.

Sort the categories into 1, 2, and 3. A1 must be done NOW, it is "hot" or "urgent." A2 can be done this AM. A3 can be done by the end of the day. B1 is done on Monday. B2 done by Wednesday. B3 done by the end of the week. Make the decision once, then do the work.

Set a day and time each week for filing. Don't let it stack up. Give yourself space to work.

5. Purge your files on a regular schedule.

For example, purge files every six months. Send these documents to storage. This gives you more space to work.

6. Storing records.

Store documents in boxes. Mark the contents of each box. For instance, clients A-F2013. Mark the destruction date on the box, D = June 02. Base your destruction date on the legal requirements for your industry.

7. Toss out stored documents on a regular schedule.

For example, two times per year, visit the storage area and remove boxes that are beyond the destruction date. Depending on your industry, they may need to be shredded rather than put in the trash.

8. Color code your records.

For example, clients with first names beginning with A-F are in Orange folders; G-K Yellow; L-P Blue; Q-Z Green. This will save you time when you are searching for a file. You can also apply this to AP, AR, Payroll, and Taxes. This can also be done by year. For example, 2012 AP is blue; 2013 AP is purple.

9. Hot files.

Put a red cover on files that you consider "hot." These could be urgent projects, legally or financially sensitive, or important VIP clients. Keep these visually at your fingertips.

10. Use out guides.

If you work with other people and share files, create a check-out system so that files are not lost. Put the file name, taken-by name, and date on a card and place it in an out guide box. When you can't find what you want, check the box to see if your co-worker is using the file. Be sure to remove the card from the box when you return the file.

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