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How Biden’s Trade War With China Differs From Trump’s

The president is trying a targeted approach, with allies, to beat Beijing in the race to own the clean energy future. Those weren’t his predecessor’s goals.

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Jim Tankersley

By Jim Tankersley

Jim Tankersley has covered tariffs and China policy across several presidential administrations.

Joseph R. Biden Jr. ran for the White House as a sharp critic of President Donald J. Trump’s crackdown on trade with China. In office, though, he has taken Mr. Trump’s trade war with Beijing and escalated it, albeit with a very different aim.

The two men, locked in a rematch election this fall, share a rhetorical fondness for beating up on China’s economic practices, including accusing the Chinese of cheating at global trade. They also share a building-block policy for countering Beijing: hundreds of billions of dollars in tariffs, or taxes, on Chinese imports. Those tariffs were first imposed by Mr. Trump and have been maintained by President Biden.

On Tuesday, Mr. Biden announced that he is increasing some of those tariffs. That includes quadrupling electric vehicle tariffs to 100 percent, tripling certain levies on steel and aluminum products to 25 percent, and doubling the rate on semiconductors to 50 percent.

But Mr. Biden’s trade war differs from Mr. Trump’s in important ways. Mr. Trump was trying to bring back a broad swath of factory jobs outsourced to China. Mr. Biden is seeking to increase production and jobs in a select group of emerging high-tech industries — including clean energy sectors, like electric vehicles, that Mr. Trump shows little interest in cultivating.

Mr. Biden has pulled more policy levers, some of them created by Mr. Trump. He has imposed more restrictions on trade with China, including limiting sales of American technology to Beijing, while funneling federal subsidies to American manufacturers trying to compete with Chinese production.

And in a sharp break from Mr. Trump’s go-it-alone posture, Mr. Biden’s strategy relies on bringing international allies together to counter China through a mix of domestic incentives and, potentially, coordinated tariffs on Chinese goods.

As they compete for the White House again, Mr. Biden and Mr. Trump are both promising to further increase trade pressure on China, which both men accuse of unfair trade practices that disadvantage American workers. Here is how their plans overlap, and where they diverge sharply.

Mr. Trump’s plan includes more tariffs and less trade.

Mr. Trump broke decades of political consensus by pushing aggressive restrictions on trade with China as president. He imposed tariffs on more than $360 billion worth of Chinese products, including toys, electronics and household furnishings, drawing retaliatory tariffs from Beijing.

In 2020, he struck an agreement with Chinese officials that called for China to increase its purchases of exported goods from America, including agricultural products, and carry out a series of economic reforms. China came nowhere close to fulfilling those terms . Lael Brainard, the director of Mr. Biden’s National Economic Council, told reporters this week that the deal “did not deliver on its promises.”

Mr. Trump has pledged new efforts to sever the nations’ trading relationship if he is elected to a second term. Those include barriers to investment between the two countries, along with bans on imports of Chinese steel, electronics and pharmaceuticals. He has also proposed an additional 10 percent tariff on all imports to the United States, not just those from China. And he has criticized Mr. Biden.

Chinese officials were “petrified of me putting on additional tariffs,” Mr. Trump told CNBC in March. “And we don’t use that, China is right now our boss. They are the boss of the United States, almost like we’re a subsidiary of China, and that’s because the Biden administration has been so weak.”

Mr. Biden is building on his predecessor’s efforts.

Mr. Biden was once a critic of Mr. Trump’s tariffs. “President Trump may think he’s being tough on China,” Mr. Biden said in a 2019 speech , as a candidate for president, “but all he has delivered is more pain for American farmers, manufacturers and consumers.”

Early in Mr. Biden’s administration, his aides debated rolling back many of Mr. Trump’s taxes on Chinese imports to ease the pain of rapid price increases. They ultimately decided against it. Instead, Mr. Biden will announce on Tuesday that he is increasing tariffs on about $18 billion worth of Chinese imports, including solar cells, ship-to-shore cranes and certain medical technologies.

His administration has also imposed new restrictions on exports of American semiconductors and chip-making materials to China, and it has taken the first step to cracking down on imported Chinese smart-car technologies .

Administration officials offer economic rationale for all of those moves. But Mr. Biden is also responding to swing-state political pressures — and seeking to outflank Mr. Trump on the China issue. Last month, he called for higher taxes on Chinese heavy metal imports in a speech to steelworkers in Pennsylvania, a crucial state where polls show he is struggling to overcome voter anxiety about the economy.

And while Biden aides say his tariff approach is more targeted — and, by extension, more effective — than Mr. Trump’s, the president has notably decided not to roll back any of the original tariffs that Mr. Trump imposed on Chinese products.

A greener war, with allies this time.

Mr. Biden has tailored his policy, though. He has consciously coupled new restrictions on China trade with the strategic investments, in the form of government spending and tax credits, that he has used to entice new factory production in a handful of targeted sectors.

Perhaps no product better exemplifies the divergence between Mr. Biden and Mr. Trump on trade policy than electric vehicles. Mr. Trump sees them as a scourge, and has said efforts to accelerate their adoption will result in an “assassination” of American jobs .

Mr. Biden has signed multiple laws meant to supercharge electric vehicle production and consumption in the United States, including an infrastructure bill with funding for 500,000 charging stations and a climate law with lucrative incentives to make and sell the vehicles in the United States. They are part of an ambitious industrial strategy to build up American factory capacity for a host of clean energy technologies meant to fight climate change and to dominate advanced manufacturing industries globally for decades to come.

Mr. Biden is increasingly worried that a flood of low-cost electric cars and other goods from China could undermine those efforts, and he is using trade policy to protect his industrial investments. His tariff increases planned for Tuesday include a quadrupling of the rate on imported electric vehicles, to 100 percent.

And while Mr. Trump antagonized allies by imposing tariffs on steel and aluminum from Japan, the European Union and elsewhere, the president has sought to bring together a coalition of wealthy democracies to battle China in clean energy. His administration led an effort at the Group of 7 summit last year to outline a harmonized strategy of subsidies to compete with China’s state funding for new technologies.

Many current and former administration officials hope that cooperation will now extend to tariffs as well, starting with Europe, which is conducting its own investigations of Chinese trade practices and appears poised to raise its existing tax rate on imported Chinese electric vehicles.

Jim Tankersley writes about economic policy at the White House and how it affects the country and the world. He has covered the topic for more than a dozen years in Washington, with a focus on the middle class. More about Jim Tankersley

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Shopping Mall Business Plan

Published Mar.17, 2023

Updated Apr.24, 2024

By: Cynthia Turner

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Shopping mall business plan

Table of Content

1. Shopping Mall Business Plan Sample and Template

This business plan for building a shopping mall can be a great resource for entrepreneurs looking to start their own shopping mall.

It provides an overview of the mall’s structure, operations, and financials to help them understand the market and make well-informed decisions.

Lastly, it includes a marketing strategy that outlines how to start a shopping mall and how it will differentiate itself from the competition, which can be used for various business plans like Supermarket Business Plan .

2. Executive Summary

Business overview.

The Arcade Shopping Mall is a one-stop shopping destination for quality products and services. It will offer its customers various products and services, from clothing, electronics, and health and beauty to entertainment and leisure activities. The small shopping mall business plan will also feature a large food court, a play area for children, and a variety of specialty shops.

The mall will provide a safe, pleasant shopping experience for its customers and will strive to create a sense of community within the mall. The mall will be conveniently located in a densely populated area, making it easily accessible to customers.

We plan to use the latest technology to create an enjoyable, stress-free shopping experience. Our mall will feature a variety of high-end stores, restaurants, and entertainment options, including a movie theater, bowling alley, and arcade. We plan to use innovative marketing strategies, such as social media campaigns and targeted advertising, to reach our target customers.

Our Wholesaling Business Plan offers a wide variety of products for customers. We offer a selection of luxury and everyday items, including

  • Clothing and Apparel: T-shirts, jeans, dresses, jackets, activewear, sweaters, and accessories.
  • Footwear: Athletic shoes, sandals, boots, and dress shoes.
  • Electronics: Phone accessories, tablets, laptops, headphones, and speakers.
  • Home Goods: Furniture, bedding, kitchenware, and home décor.
  • Beauty Products: Makeup, skincare, hair care, and fragrances.
  • Jewelry: Watches, necklaces, rings, and earrings.
  • Toys: Action figures, dolls, and educational toys.
  • Sporting Goods: Exercise equipment, team sports gear, and outdoor recreation gear.
  • Books and Movies: Books, DVDs, and video games.

Customer Focus

Same as our Sandwich Shop Business Plan , we will ensure that our customers are always our top priority. We will provide excellent customer service in all aspects of our business. We will ensure that our customers always have access to the products and services they need. We will strive to create an enjoyable shopping experience for our customers. We will also use customer feedback to continuously improve our services and products.

Management Team

Our management team will consist of experienced professionals from various backgrounds. We will have a team of experienced managers and supervisors who will be responsible for overseeing the day-to-day operations of the shopping mall. Compared to our Food Truck Business Plan , we will also have a team of experienced marketing and sales professionals responsible for driving customer traffic and sales.

Success Factors

Our success will depend on several factors, including our ability to provide excellent customer service, our ability to source high-quality products and services, and our ability to market our products and services effectively. We will also need to be able to manage our operations and finances effectively. Additionally, we will need to be able to develop and maintain relationships with our suppliers and vendors.

Food delivery

Financial Highlights

Our financial highlights include revenue projections, capital and investment requirements, and estimated profits. In the business plan shopping mall project, we will generate revenue from selling products and services and tenant rent payments. We will also have initial capital and investment requirements to construct the shopping mall and purchase equipment and supplies. Our expected profits will depend on the success of our operations and our ability to generate customer traffic.

  • Revenue growth of 8.5% year over year
  • Operating profit of $5.0 million in Year 1
  • Positive cash flow from operations of $2.5 million in Year 1
  • Total capitalization of $20 million
  • Debt-to-equity ratio of 1.0:1
  • Return on equity of 15% in Year 1
  • Payback period of 5 years

3. Company Overview

Who is arcade shopping mall.

Arcade Shopping Mall is a modern shopping complex located in the heart of a major metropolitan area. The mall offers a wide variety of goods and services and has grown to become a destination for shoppers from all over the region. The mall is owned and operated by a private developer who has invested significant capital into the mall to keep it competitive and up-to-date.

Arcade Shopping Mall History

Arcade Shopping Mall was opened in the year 2020 and since then has quickly become a popular shopping venue. It is conveniently located near public transportation and other nearby amenities. The mall business proposal offers a wide selection of department stores, specialty shops, and an array of dining and entertainment options. The mall also features an indoor play area for children and a movie theater.

The mall has a management team that is dedicated to providing excellent customer service and creating a safe and comfortable shopping environment. The team works hard to ensure that the mall is clean and well-maintained and that customers have an enjoyable shopping experience. The mall also works to keep up with the latest trends and to stay ahead of the competition.

The mall has grown steadily since its opening, and the management team is always looking for ways to improve the mall and make it more appealing to potential customers. The mall is committed to providing an enjoyable shopping experience for all who visit.

The key elements of the business concept of Arcade Shopping Mall are:

  • Convenience: Arcade Shopping Mall provides customers with a convenient and easy-to-use shopping experience that can be accessed from any device.
  • Rewards: We offer a variety of rewards programs that allow customers to earn rewards points for their purchases and redeem them for discounts.
  • Variety: Our selection of products ranges from the world’s leading brands to unique and hard-to-find items.
  • Quality: We are committed to providing customers with the highest quality products and customer service.
  • Engagement: Our interactive shopping experience encourages customers to engage with our products and services.

4. Industry Analysis

The shopping mall industry has grown tremendously over the past several years, with the number of shopping malls in the United States nearly doubling since the 1980s. Shopping malls have become a staple of American consumer culture, providing various goods and services in one convenient location.

The global shopping mall industry is estimated to be worth $1.4 trillion in 2018, with the U.S. contributing the largest share of that figure. This growth is projected to continue, with the global market expected to reach $2.7 trillion by 2025. The growth is driven by several factors, including changing consumer preferences, technological advances, and an expanding global middle class.

The shopping mall industry is highly competitive and fragmented, with major players such as Simon Property Group, Westfield Corporation, and Brookfield Property Partners controlling a large market share. These companies operate large, regional shopping malls that are often the destination of choice for consumers.

Despite the competition, there is still room for smaller, locally-owned shopping malls to succeed. These malls can focus on providing a unique experience that appeals to local shoppers and differentiates them from larger national players. In addition, these malls can focus on providing services and amenities that larger malls may not have, such as specialty stores, local restaurants, and entertainment options.

Overall, the shopping mall industry is expected to remain a lucrative market for the foreseeable future. With the right approach, locally-owned malls can still achieve success in this crowded and competitive space.

5. Customer Analysis

Demographic profile of target market.

The target market for a shopping mall should be identified based on the location, the types of goods and services offered, and the demographic makeup of the local community. The demographic profile of the U.S. target market is highly diverse and includes a mix of gender, race, ethnicity, income level, and age. The U.S. population is estimated to be 329,064,917, with an estimated median age of 37.9 years. The population is 68.6% non-Hispanic White, 13.4% Hispanic, 13.3% African American, 5.9% Asian, and 4.3% of other races or multiple races. The average household income is estimated at $59,039, and the median is $50,895.

Customer Segmentation

Shopping malls should segment their customers based on their purchasing behaviors. For the shopping mall business plan, customer segmentation can be based on age, gender, income level, and geographic location. The segmentation can be further divided into sub-segments such as age (under 18, 18-25, 25-45, 45-65, and 65+), gender (male and female), income level (low, medium, and high), and geographic location (city, suburban, and rural). By segmenting the customers, the business can better understand the needs of each segment and develop marketing strategies to target specific segments.

6. Competitive Analysis

In developing a shopping center business plan, the shopping mall industry is highly competitive and there are a number of established players in the market. In order to succeed, our shopping mall business plan must consider the market competition and identify ways to differentiate our product offering and create a competitive advantage.

Direct and Indirect Competitors

Direct Competitors

The direct competitors of our shopping mall business plan include national and international shopping malls, department stores, specialty stores, and online retail outlets. We must consider the services, prices, location, and convenience factors that these competitors offer in order to compete effectively.

Indirect Competitors

Indirect competitors include other entertainment venues, such as movie theaters, amusement parks, and other leisure activities. We must consider how our shopping mall will provide unique experiences and services that will draw customers away from these competitors.

Competitive Advantage

It is important to identify the unique features and benefits the shopping mall offers to make it stand out from its competitors. Competitive advantages include low prices, convenient location, extensive product selection, and excellent customer service.

Our competitive advantage lies in our ability to offer a unique shopping experience. We will focus on creating an inviting atmosphere with high-quality customer service and an extensive selection of products and services. We will also focus on providing exclusive deals, discounts, and innovative shopping experiences, such as virtual reality tours and interactive displays.

7. Marketing Plan

The marketing plan for the shopping mall business model will focus on five key aspects:

  • Target market identification: The target market for this shopping mall business is consumers who are looking for a convenient, wide selection of products at competitive prices. The target market will consist of individuals with various income levels and spending habits.
  • Branding and positioning: The shopping mall will be positioned as a premier shopping destination offering an extensive selection of products at competitive prices. The brand will be associated with quality and value.
  • Marketing mix: The marketing mix for this shopping mall business will include traditional advertising, direct mail, online marketing, and public relations. The focus will be on reaching the target market and communicating the message of value and quality.
  • Professional website: The shopping mall will have a professional website with an e-commerce platform for online shopping. The website will feature information about the mall, including store listings, events, promotions, and more. The website will be optimized for search engines and will include social media links.
  • Promotions strategy: The promotions strategy for this shopping mall business will include discounts, coupons, loyalty programs, and special events. The promotions will drive traffic to the mall and increase sales. These promotions and discounts could include special offers on particular days, “buy one get one free” offers and more.

The direct competitors for this shopping mall business are other shopping malls in the area. These competitors include large retail stores, department stores, and other shopping centers. The indirect competitors are online retailers and other e-commerce sites.

Promotions Strategy

We plan to offer a variety of promotions to attract customers to our shopping mall. As the owner knows how to open a mall, he suggested, we will offer discounts and special offers on a regular basis to encourage customers to purchase products and services. We will also host events and activities, such as fashion shows, product launches, and special offers.

We plan to partner with local businesses and organizations to offer exclusive discounts and promotions to our customers. We will also employ loyalty programs to encourage repeat customers.

Our pricing strategy will be based on offering quality products and services at competitive prices. We will offer high-end products and services at premium prices and budget-friendly products and services at more affordable prices. We will also offer discounts and special offers on a regular basis to attract customers.

We plan to offer various payment options to make our products and services more accessible to our customers. We will accept cash, debit, and credit cards, as well as e-wallet payments.

8. Operations Plan

Operation functions.

Security: The mall must ensure that customer safety is a top priority. This will include having a security team on-site to monitor activity and respond to emergencies.

Maintenance: The mall will need a team to keep the building and grounds in good condition. This will include regular cleaning, repairs, and upkeep of the facility.

Customer Service: The mall must provide customers with an enjoyable shopping experience. This will include providing friendly, helpful service and responding to customer inquiries and complaints.

Marketing: The mall must have a marketing plan to promote the mall and attract customers. This will include advertising, public relations, social media, and other promotional activities.

Management: The mall will need to have a management team in place to oversee the day-to-day operations of the mall. This will include setting goals, creating policies, and ensuring the mall operates efficiently and profitably.

4/15/202X – Obtain Funding

4/22/202X – Develop Business Plan & Hire Professional Team

5/1/202X – Lease Property & Secure Necessary Permits

5/8/202X – Begin Construction

5/15/202X – Hire & Train Staff

5/22/202X – Finalize Construction & Buy Necessary Fixtures & Equipment

6/1/202X – Launch Marketing Campaign

6/8/202X – Open for Business

6/15/202X – Monitor & Evaluate Performance

9. Management Team

The management team of the shopping mall will include a team of highly-skilled professionals who will be responsible for the day-to-day operations of the mall.

Company Staff

The Company Staff consists of experienced professionals who are dedicated to providing superior customer service. The staff is responsible for ensuring that the mall is safe, clean, and enjoyable for customers.

  • VP of Retail
  • VP of Real Estate
  • Store Managers
  • Sales Associates
  • Support Staff
  • Maintenance Staff
  • Security Staff

10. Financial Plan

The financial plan for this shopping mall project is based on an initial investment of $10 million. This investment will be used to renovate the mall, purchase new inventory, and hire personnel to manage the mall. The investments will be made in the following areas:

  • Renovation: $3 million
  • Inventory: $2 million
  • Personnel: $2 million
  • Advertising/Marketing: $1 million
  • Legal Fees: $500,000
  • Miscellaneous: $1.5 million

The total cost of the project is estimated to be $10 million.

Key Revenue & Costs

The primary sources of revenue for the mall will come from rent from tenants, sales from tenants, and from other sources, such as parking fees and food court revenue. The mall is estimated to generate approximately $15 million in total annual revenue.

The primary costs for the mall will include rent for the space, personnel costs, and advertising/marketing costs. The mall is estimated to incur total annual costs of approximately $10 million.

Funding Requirements and Use of Funds

The total project cost is estimated at $10 million. To finance the project, the mall will need to secure loans and/or equity investments. It is estimated that approximately $7 million in financing will need to be secured to cover the project’s cost.

The funds will be used as follows:

Key Assumptions

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To successfully launch and operate the mall, the following assumptions will need to be made:

The mall will have a total of 140,000 square feet of retail space, including anchor stores and smaller shops.

The start-up costs for the project will be approximately $15 million.

The mall will be open for business 12 hours a day, seven days a week.

The mall’s primary target market will be middle-income shoppers in the local area.

The mall will have an initial occupancy rate of 75%, with an average rent of $25/square foot.

The mall will offer amenities such as a food court, movie theater, and play area.

A team of experienced retail professionals will manage the mall.

The mall will generate approximately $20 million in gross sales in its first year of operation.

The mall will generate a positive cash flow by the end of its first year of operation.

The mall will have an average annual occupancy rate of 90% over the next five years.

Financial Projections

All tables in PDF

  • What is a shopping mall business plan? A shopping mall business plan is a document that outlines the operational and financial objectives of a shopping mall. It typically includes market analysis, marketing strategies, financial projections, operational details, and other information necessary to start and operate a successful shopping mall. The plan should also outline strategies for managing the mall, including leasing strategies, customer service, and marketing.
  • Strip mall : A strip mall, also known as a strip center, is a shopping center that consists of a row of storefronts, typically with surface parking in front.
  • Enclosed mall: An enclosed mall, or indoor mall, is an indoor shopping center that usually features a variety of stores and restaurants.
  • Outlet mall: An outlet mall is a shopping center that features discounted, name-brand merchandise from various stores.
  • Super regional mall: A super-regional mall is a large shopping center with numerous department stores, specialty stores, and restaurants.
  • Lifestyle mall: A lifestyle mall is a shopping center with a mix of upscale retailers, restaurants, entertainment venues, and services.
  • What are the main sources of revenues and expenses for a shopping mall? The main sources of revenue for a shopping mall include retail sales from stores, rental income from tenants, and income from food courts and other amenities. Retail sales are generated from the stores within the mall, which typically includes clothing stores, shoe stores, and other specialty shops. Rental income is generated from tenants who pay to occupy space in the mall. Finally, income from food courts, movie theaters, and other amenities can be a significant source of revenue. The main expenses for a shopping mall include property taxes, rent payments, utilities, maintenance costs, and marketing expenses. Property taxes are typically based on the assessed value of the mall’s property. Rent payments are made to the mall’s landlord and to the tenants who occupy space in the mall. Utilities include electricity, water, sewer, and other services. Maintenance costs include the repair and upkeep of the mall’s grounds and facilities. Finally, marketing expenses include advertising, promotions, and other activities to attract customers to the mall.
  • How do you get funding for your shopping mall business plan? One of the most common ways to fund a shopping mall business plan is to approach investors. This can be done through a variety of options, such as through angel investors, venture capitalists, private equity firms, and crowdfunding platforms. Through these sources, investors can provide funding in exchange for equity in the business, meaning that they will be part-owners of the mall. Additionally, some investors may provide debt financing, which involves the mall receiving a loan from the investor that must be paid back, usually with interest. Other sources of funding may include grants and government programs, bank loans, and personal savings.

Download Shopping Mall Business Plan in PDF

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ProfitableVenture

Shopping Mall Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Real Estate Sector

Are you about starting a shopping mall? If YES, here is a complete sample shopping mall business plan template & feasibility report you can use for FREE .

One of the good businesses that you can start that will guarantee you steady income for a very long time with little or no stress is building a shopping mall. With the right location, top-notch facility and good marketing skills, you can accommodate top profile retailers and businesses who would want to run their business from your facility.

But opening up a shopping mall requires pretty huge startup capital; it also needs solid planning, and attention to detail in order to keep your business profitable.

A Sample Shopping Mall Business Plan Template

1. industry overview.

A shopping mall is a modern, essentially North American, term for a form of shopping area or shopping center in which one or more buildings form a complex of shops with interconnecting walkways, usually indoors. It is on record that in 2017, shopping malls accounted for 8 percent of retailing space in the united states.

The Shopping Mall Management industry consists of companies that develop, lease, maintain, repair and secure large commercial property in exchange for rental payments from retailers and businesses. For industry operators, rental income generates the largest portion of industry revenue with income from property management fees following.

Industry revenue primarily fluctuates in line with rental rates and occupancy levels. During a five-year period, the price of commercial real estate, benchmarked by the Green Street Commercial Property Price Index, grew at an estimated annualized rate of 5.8 percent.

Furthermore, retail vacancy rates dwindled as mall foot traffic steadily grew due to boost in disposable income and consumer spending

The Shopping Mall Management industry is indeed a growing sector of the economy of the United States of America and it generates a over $23 billion annually from more than 8,326 shopping malls management companies. The industry is responsible for the employment of over 44,292 people.

Experts project that the industry will grow at a 0.2 percent annual rate between 2013 and 2018. The companies holding the largest market share in the Shopping Mall Management industry are Simon Property Group Inc. and Brookfield Property REIT Inc.

Research conducted by IBISWORLD reveals that over the past five years, the Shopping Mall Management industry has grown by 0.2 percent to reach revenue of $23bn in 2018. In the same time frame, the number of businesses declined by -2.4 percent and the number of employees declined by -2.2 percent.

The shopping mall line of business is very open to any aspiring entrepreneur who has the capital and capacity to open and run his or her shopping malls. Just ensure that your facility is located in an environment with the right demography and you will just be fine.

2. Executive Summary

Simone Cooper® Shopping Malls, Inc. is a licensed shopping mall management business. We have been able to secure a standard and well – positioned facility in a central district in 8322 Sheldon Road, Elk Grove, CA 94624.

We are set to compete in the highly competitive shopping mall management industry not only in Elk Grove – California, but throughout the United States market because we intend building and opening our facilities in key cities across the United States.

Simone Cooper® Shopping Malls, Inc. will run a standard shopping mall that will be involved in the rental of commercial space, property management services, consulting, shop appraisal and listing services, construction services and other related services.

Our business goal is to become one of the leading shopping mall management companies with world class shopping malls in the United States.

Our workers are going to be selected from a pool of certified, creative and highly experienced workers in and around Elk Grove – California. We will make sure that we take our workforce through the required training that will position them to meet the expectation of the company.

At Simone Cooper® Shopping Malls, Inc., our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Simone Cooper® Shopping Malls, Inc. is owned by Simone Cooper. A civil engineer, astute business man and core professional with hands – on experience in running shopping malls.

3. Our Products and Services

Simone Cooper® Shopping Malls, Inc. was established with the aim of maximizing profits in the shopping malls management industry. We want to compete favorably with the leading shopping malls in the United States which is why we have put in place a competent team that will ensure that our facilities meet and even surpass our customers’ expectations.

We will work hard to ensure that Simone Cooper® Shopping Malls, Inc. is not just accepted by retailers and businesses in Elk Grove – California, but also in other cities in the United States of America where we intend opening chains of shopping malls.

Our facilities and services are listed below;

  • Rental of commercial spaces in our shopping malls
  • Property management services
  • Consulting, appraisal and listing services for shops in our shopping malls
  • Construction of shopping malls
  • Other related services.

4. Our Mission and Vision Statement

  • Our vision is to establish a standard shopping mall management company whose facility and brand will not only be accepted in Elk Grove – California, but also in other cities in the United States of America.
  • Our mission is to provide standard shopping malls and shopping mall management services that can attract some of the leading retailers, commercial offices, hairstylists, barbers and similar businesses who may not want to shoulder the responsibilities of owning a standard shop facility in a busy business district.
  • We want to build a shopping mall management brand that can favorably compete with other leading brands in the industry.

Our Business Structure

We intend starting small in Sheldon Road, Elk Grove – California, but hope to grow big in order to compete favorably with leading companies in the industry both in the United States and on a global stage. We are aware of the importance of building a solid business structure that can support the kind of world class business cum brand we want to own.

We will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).

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 as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer
  • Project Manager

Human Resources and Admin Manager

  • Sales and Marketing Executive

Facility Manager

Client Service Executive

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
  • Creating, communicating, and implementing 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

Project Manager:

  • Serve as project manager of the organization; works directly with employees
  • Develops strategic plan by studying the trends in the industry and financial opportunities; presenting assumptions; recommending objectives.
  • Evaluates building plans and permits
  • Reviewing and approving plans that meet building codes, local ordinances and zoning regulations
  • Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
  • Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
  • Maintains quality service by establishing and enforcing organization standards.
  • Makes certain that the project team performs efficiently, coordinates employee efforts, and facilitate communications between management and the workforce
  • Ensures that the organization works in line with international best practices.
  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Design job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • 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.
  • Defining job positions for recruitment and managing interviewing process
  • Carrying out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversee the smooth running of the daily office activities.

Sales and Marketing Manager

  • Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Model demographic information and analyze the volumes of transactional data generated by customer
  • Identifies development opportunities; follows up on development leads and contacts
  • Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Create new markets cum businesses for the organization
  • Empower and motivates the sales team to meet and surpass agreed targets

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 for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for the organization
  • Serves as internal auditor for the organization
  • Responsible for making sure that our shopping mall facilities meet the needs of the people that rent, lease or purchase them
  • In charge of leasing and renting out accommodations and other properties under our ‘to let list’
  • In charge of inspecting and reporting on the structural attributes of a building
  • Responsible for evaluating the component systems of a building (electrical, fire, roofing and plumbing)
  • Assesses compliance with building, electrical, plumbing and fire codes
  • Ensuring that basic facilities, such as water and heating, are well-maintained
  • Ensuring that facilities meet government regulations and environmental, health and security standards
  • Overseeing building projects, renovations or refurbishments
  • In charge cleaning, security and parking, to make sure the surrounding environment is in a suitable condition to work
  • Welcomes clients by greeting them in person or on the telephone; answering or directing inquiries.
  • 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 clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the Human Resource and Admin Manager in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

6. SWOT Analysis

Simone Cooper® Shopping Malls, Inc. engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured shopping mall management business that can favorably compete in the industry in the United States and the world at large.

Here is a summary from the result of the SWOT analysis that was conducted on behalf of Simone Cooper® Shopping Malls, Inc.;

Our shopping mall is located in Sheldon Road, Elk Grove – California which happens to be one of the busiest commercial centers in California. We can boast of having a result and service driven team and we have access to pool of finance from our partners who are accredited investors. These are some of the strength of business.

As a new shopping mall management company in Elk Grove – California, it might take some time for us to break into the market and gain acceptance especially from top profile clients in the already saturated industry; that is perhaps our major weakness.

Another weakness is the ability to compete with big – time players in the real estate industry when it comes to bidding for choice facilities.

  • Opportunities:

The opportunities available to a business such as ours are enormous because, as the number of businesses increases, demand for commercial and retail space is assumed to increase at a parallel rate. Additional businesses entering the US economy provide a greater pool of potential clients for mall managers.

Interestingly, the number of businesses in the United States is expected to increase in the coming years, presenting a potential opportunity for the industry

It is a fact that online shopping poses a direct threat to traditional brick-and-mortar retailers. With more consumers opting to shop online, many retailers have shuttered physical locations to preserve margins.

As more stores downscale operations, a business such as ours lose out on rent, thereby depleting our projected revenue. E-commerce sales are expected to increase in 2018, posing a possible threat to shopping mall management companies.

7. MARKET ANALYSIS

  • Market Trends

The national retail vacancy rate has fallen during the five-year period. The fact that renting a shopping mall can be a cost-effective and efficient solution for retailers and related businesses and workers makes it an ideal Business model for retailers who just want to start small and grow big. The continued rise of online shopping will pressure brick-and-mortar locations out of malls.

This business model gives room for aspiring retailers and businesses to pitch their business tent in highbrow areas without necessarily breaking the bank. All they need to do is to ensure that their products and services are top – notch and they won’t have to spend loads of cash maintaining the facility or marketing their services.

It is the responsibility of the shopping mall management company to promote and maintain their facility. As a matter of fact, retailers are finding their freedom while renting small studio and shop spaces in larger, collective shopping malls.

8. Our Target Market

Before starting our business in Sheldon Road, Elk Grove – California, we conducted a thorough market survey and feasibility studies and we are certain that there are loads of retailers, business centers, hairstylists, barbers, tanning specialist and nail specialists et al who need large, medium and small spaces in our shopping mall facility to run their business.

In view of that, we have created strategies that will enable us reach out to various groups of people who we know will need our services. Below is a list of the people that we will specifically market our facility to;

  • Business Centers
  • Hairstylists
  • Manicure and pedicure specialists
  • Tanning specialists

Our competitive advantage

Surviving in the business world as a shopping mall management company operator requires more than your expertise, creativity, and knowing how to deliver standard services but also how to network with key people that matter; entrepreneurs that can rent your shops / spaces.

Because of the competitive nature of the shopping mall management business, there is an increasing degree of related business activities, with big players dominating the market. We are quite aware that to be highly competitive in the industry, you are not only expected to make available safe shops, and office spaces, but you must be able to meet set targets.

Our competitive advantage is anchored on the state – of – the art shopping mall facilities that we have. We also have a team of certified and experience workers. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.

Another strength that counts for us in the location of our shopping mall management; it is located in one of the most must busiest places in Sheldon Road, Elk Grove – California.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups shopping mall managements businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

Sources of income.

Simone Cooper® Shopping Malls, Inc. is established with the aim of maximizing profits in the shopping malls management industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.

Simone Cooper® Shopping Malls, Inc. will generate income by offering the following facility and services;

10. Sales Forecast

One thing is certain, there would always be business owners who would need to cut cost of starting the business hence need to rent a small space in a shopping mall facility.

We are well positioned to take on the available market in the industry in Elk Grove – California and we are quite optimistic that we will meet our set target of renting out all the spaces that is available in our facility and generating enough income/profits from the first six month of operation and grow our shopping mall management business to enviable heights.

We have been able to examine the shopping mall management market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Simone Cooper® Shopping Malls, Inc. It is based on the location of our shopping mall facility and of course our target market;

  • First Fiscal Year:  $1 million
  • Second Fiscal Year:  $2.5 million
  • Third Fiscal Year:  $4 million

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 offering same facility as we do 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

Our marketing strategies will be directed towards achieving specific objectives that will support the strategic goals of the organization. The truth is that all that we do will be geared towards creating new market channels, increasing sales and our market share.

Our unique selling proposition is that we are well positioned, we offer state of the art facility/services and people can easily access our facility. Our sales and marketing team will be recruited based on their vast experience in the shopping mall management industry and they will be trained on a regular basis so as to meet their targets.

Our corporate goal is to grow Simone Cooper® Shopping Malls, Inc. to become one of the top 10 shopping mall management brands in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Sheldon Road, Elk Grove – California but also in other cities in the United States of America.

Simone Cooper® Shopping Malls, Inc. is set to make use of the following marketing and sales strategies to attract clients;

  • Open our shopping malls with a big party.
  • Advertise our shopping malls on national dailies, local TV and radio stations
  • Promote our business online via our official website and all available social media platforms
  • Introduce our business by sending introductory letters alongside our brochure to retailers, business operators, hair stylists, barbers, tanning specialists and manicure and pedicure specialist and key stake holders in Elk Grove – California
  • Print out fliers and business cards and strategically drop them in offices, sport facilities, libraries, public facilities and train stations et al.
  • Make use of attractive hand bills to create awareness and also to give direction to our shopping mall facility
  • Adopt direct mailing coupon marketing approach
  • Position our signage / flexi banners at strategic places in and around Elk Grove – California

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for retailers and business center operators in the whole of Elk Grove – California and other cities in the United States of America where we intend opening our chains of shopping mall facilities which is why we have made provisions for effective publicity and advertisement of our business.

Below are the platforms we intend to leverage on to promote and advertise Simone Cooper® Shopping Malls, Inc.;

  • Place adverts on both print (newspapers and real estate magazines) and electronic media platforms
  • Sponsor relevant community – based events / programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our tanning services
  • Install Bill Boards in strategic locations all around Elk Grove – California
  • Distribute our fliers and handbills in target areas
  • List our shopping mall management business in local directories / yellow pages
  • Advertise our shopping mall facilities in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized facility and services) and we don’t intend to charge less than what our competitors are charging their clients.

  • Payment Options

The payment policy adopted by Simone Cooper® Shopping Malls, 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 Simone Cooper® Shopping Malls, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via Point of Sale Machine (POS)
  • Payment via online bank transfer
  • Payment via check
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for renting our shops and office spaces 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 shopping mall management business and here are the key areas where we will spend our startup capital;

  • The total fee for registering the business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits – $1,500.
  • Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of – $10,000.
  • The total cost for hiring Business Consultant – $5,000.
  • The amount needed for the purchase of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
  • The total cost for the purchase of accounting software, CRM software and Payroll Software – $3,000
  • The total cost for purchasing a landed property for the construction of our shopping mall – $1 million.
  • The total cost for building a standard shopping mall – $4 million
  • Other start-up expenses including stationery – $1000
  • Phone and utility deposits – $3,500
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $200,000
  • The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, tables and chairs et al) – $4,000.
  • The cost of launching a Website – $600
  • The cost for our grand opening party – $15,000
  • Miscellaneous – $10,000

Going by the report from the market research and feasibility studies conducted, we will need about $5.5 million to successfully construct a medium scale but standard shopping mall business in the United States of America.

Generating Funds/Startup Capital for Simone Cooper® Shopping Malls, Inc.

No matter how fantastic your business idea might be, if you don’t have the money to finance the business, the business might not become a reality. Finance is a very important factor when it comes to starting a business. Raising startup capital for a business might not come cheap, but it is a task that an entrepreneur must go through.

Simone Cooper® Shopping Malls, Inc. is a private business that is solely owned and financed by Mr. Simone Cooper 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 $1.5 million (Personal savings $1 million and soft loan from family members $500,000) and we are at the final stages of obtaining a loan facility of $4 million 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

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Simone Cooper® Shopping Malls, Inc. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to lease our shopping mall spaces a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Simone Cooper® Shopping Malls, 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 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 Incorporation: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Securing a standard facility and reconstructing the facility to fit into the kind of shopping mall facility we want to manage: Competed
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Generating part of the startup capital from the founders: Completed
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of Logo for the business: Completed
  • Printing of Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the needed office furniture, office equipment, software applications, electronic appliances and facility facelift : In progress
  • Creating official website for the business: In Progress
  • Creating Awareness for the business: In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress

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Retail Business Plan Template

Written by Dave Lavinsky

Growthink.com Retail Business Plan Template

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their retail and online stores. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a retail business plan template step-by-step so you can create your plan today.

Download our Ultimate Retail Business Plan Template here >

What is a Retail Business Plan?

A business plan provides a snapshot of your retail business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes thorough market research to support your retail business plans.  

Why You Need a Business Plan for a Retail Store

If you’re looking to start a retail business or grow your existing retail business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your retail business in order to improve your chances of success. Your retail business plan is a living document that should be updated annually as your company grows and changes.  

Sources of Funding for Retail Stores

With regards to funding, the main sources of funding for a retail store business are bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a retail business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.  

Finish Your Business Plan Today!

How to write a business plan for a retail store.

A strong retail business plan should include 10 sections as follows:

Executive Summary

  • Company Overview

Industry Analysis

Customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of retail store you are operating and the status; for example, are you a startup, do you have a retail business that you would like to grow, or are you operating a chain of retail stores.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the retail industry. Discuss the type of retail store you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your retail marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of retail business you are operating.

For example, you might operate one of the following types:

  • Specialty Store – a store with a tight focus (e.g., hip apparel for women)
  • Off-Priced/Used Goods Store – sells massively discounted or used products
  • Department Store – often located at a mall and offer tons of products (e.g., Macy’s)
  • Supermarket – focuses primarily on food items
  • Convenience Store – offers just the most popular items a supermarket offers in a much smaller location
  • Drug Store/Pharmacy – primarily offer medicines and medical products
  • Discount Store – offer large inventories at low prices (e.g., Walmart)
  • Hypermarket – offer many food and non-food items often in large quantities at a discount (e.g., Costco)
  • E-commerce – offers products for sale online (e.g., Amazon)

In addition to explaining the type of retail business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
  • Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

In your industry analysis, you need to provide an overview of the retail industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards local retail businesses with online counterparts, it would be helpful to ensure your plan calls for a significant online presence.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

  • How big is the retail business (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in your local market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your retail business. You can extrapolate such a figure by assessing the size of your niche’s market in the entire country and then applying that figure to your local population.

The customer analysis section of your retail store business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of retail business you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing strategies than teens.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most retail businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.  

Finish Your Retail Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Retail Business Plan Template you can finish your plan in just 8 hours or less!

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other brick-and-mortar retail businesses. They are most likely local businesses who sell similar items to you.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. You most likely will have online competitors; companies that sell the same or similar items to you, but which operate online.

For each direct competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of customers do they serve?
  • What products do they offer?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. Look at review websites to gain this information.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide superior products or services?
  • Will you provide products that your competitors don’t?
  • Will you make it easier or faster for customers to acquire your products?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a retail business, your marketing plan should include the following:

Product : Here, you should reiterate the type of retail business that you documented in your Company Analysis. Then, detail the specific products you will be offering.

Price : Document the prices you will offer and how they compare to your competitors. In this sub-section, you are presenting the items you offer and their prices.

Place : Place refers to the location of your retail business. Document your location and mention how the location will impact your success. For example, is your retail business located next to a heavily populated office building, or gym, etc. Discuss how your location might provide a steady stream of customers. Also, if you operate or plan to operate kiosks, detail the locations where the kiosks will be placed.

Promotions : In this sub-section, you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

  • Making your brick-and-mortar storefront extra appealing to attract customers
  • Social media marketing
  • Search engine optimization
  • Advertising in local papers and magazines
  • Reaching out to local bloggers and websites
  • Partnerships with local organizations
  • Local radio advertising
  • Banner ads at local venues

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your retail operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your retail business such as serving customers, inventory management, keeping the store clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 5,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new store location.

In this section of your retail store business plan, explain the management structure as this demonstrates your store’s ability to succeed as a business. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the retail business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in retail businesses and/or successfully running retail and small businesses.

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 100 customers per day or 200? And will sales grow by 2% or 10% per year? As you can imagine, poor financial planning will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your retail business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow projections will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, you may need to purchase inventories now that you can’t sell (and get paid for) for several months. During those months, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a successful retail business:

  • Location build-out including design fees, construction, etc.
  • Cost of fixtures
  • Cost of initial inventory
  • Payroll or salaries paid to staff
  • Business insurance
  • Taxes and permits
  • Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

Download Our Retail Business Plan PDF

You can download our retail business plan PDF to help you create your own business plan.  

Retail Business Plan Summary

Putting together a business plan for your retail store will improve your company’s chances of success. The process of developing your plan will help you better understand your target market, your competition, and your customers. You will also gain a marketing plan to better attract and serve customers, an operations plan to focus your efforts, and financial projections that give you goals to strive for and keep your company focused.

Growthink’s Ultimate Retail Business Plan Template allows you to quickly and easily complete your retail store business plan.  

Additional Resources For Starting a Retail Store

  • How To Start a Retail Business
  • Brick and Mortar Business: From Idea to Grand Opening
  • 6 Retail Store Layouts That Drive Sales

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how a Growthink business planning consultant can create your business plan for you.

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Elon Musk pushes plan for Chinese data to power Tesla’s self-driving cars

Tesla is said to be developing plans for a data centre in china to train the algorithm needed for more fully autonomous vehicles.

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Shanghai/Singapore — Tesla is pushing ahead with plans to power the global development of its self-driving system with data from China that could be processed within the country, part of a strategic shift by Elon Musk, according to people with knowledge of the work.

As part of that effort, Tesla has been developing plans for a data centre in China to train the algorithm needed for more fully autonomous vehicles, according two people, who asked not to be named because the work remains private.

Until recently, Tesla has focused on efforts to secure approval from Chinese regulators to transfer data generated by its EVs in China out of the country for its “Full Self Driving” (FSD) system, according to the two people and an additional person with knowledge of the matter.

It was not clear if Tesla would proceed with both options for handling self-driving data from China — data transfer and a local data centre — or if it was developing parallel plans as a hedge.

Tesla’s efforts underscore the speed of the electric vehicle maker’s pivot to bet on a breakthrough in AI at a time when EV demand has slowed and its competition has deepened.

Its push to make fuller use of data from vehicles in China to develop the automaker’s artificial intelligence (AI) for driving comes as the US government has tried to clamp down on the transfer of AI technology from US firms to China.

Tesla has not been able to offer the full version of FSD, which costs the equivalent of almost $9,000, in China.

A wider market for FSD in China would give a boost to the vehicle maker’s revenue and profits at a time when both are getting squeezed by pressure from Chinese rivals such as BYD .

Tesla did not respond to a request for comment.

Setting up a data centre in China for FSD development would require Tesla to work with a Chinese partner, two of the sources said. There is also a potential hardware-sourcing challenge.

It has had talks with Nvidia about acquiring graphic processing units for a China data centre, according to one of the people, who was briefed on the discussions. US sanctions bar Nvidia and its partners from selling its most advanced chips in China.

Nvidia declined to comment on whether it had held talks with Tesla.

Tesla’s campaign to make more use of data from China was kicked into high gear in a whirlwind trip by Musk to Beijing in April when he met with officials including Premier Li Qiang.

In his meeting with Li, Musk sought to smooth permissions for Tesla’s data transfer, two of the sources said. The potential of Tesla investing in a data centre in China was also raised, they said.

Musk also discussed the possibility of Tesla licensing its FSD systems to Chinese EV makers, one person said. Musk had said in April Tesla was talking to another “major” vehicle maker about licensing FSD without naming it.

China’s State Council Information Office did not respond to a request for comment.

The China effect

China, the world’s largest car market, has the biggest fleet of sensor-equipped cars capable of collecting data from congested cities with complicated traffic patterns, making data generated there valuable for vehicle makers and AI providers.

Musk previously expressed opposition to a China-based data centre, arguing that data transfer to the US was the most efficient option, two people said.

Since 2021, Tesla has stored data collected by its Chinese EVs in Shanghai. Over that time, Tesla’s China team has been seeking approvals from Chinese regulators to transfer data out of the country, two people said.

Under a one-year pilot project, companies in Shanghai’s Lingang Area, where Tesla’s factory is located, will be allowed to transfer certain data without needing further security assessments, Reuters reported on Friday.

Some analysts see Musk as trying to make China a launch pad for self-driving in the same way Tesla’s 2019 bet on its Shanghai Gigafactory allowed it to break through as a mass-market electric vehicle maker.

“It would definitely be a milestone for Tesla if it rolls out FSD in China and leverages the China data for algorithm training,” said Yale Zhang, MD at Shanghai-based consultancy Automotive Foresight.

“China had played a key role in scaling up EV production for Tesla with the Shanghai factory. It would again serve a significant part in scaling up mass adoption of autonomous driving technologies,” he said.

Many industry experts expect it will take years before fully autonomous cars are commonplace, but predictions vary widely.

Driver-assistance features now offered in China are “level two” systems, meaning they require a driver ready to take over. Tesla’s FSD and its less-advanced options of Autopilot, are also level-two systems requiring attentive drivers.

More fully automated vehicle fleets operated by Baidu, China’s biggest search engine operator, and Pony.ai, an autonomous driving start-up, run in limited test zones.

But China’s EV makers, including BYD, have made self-driving and advanced driver assist systems a priority. Mercedes and BMW have been granted licenses to test level-three systems that allow drivers to take their hands off the wheel and look away on a wider range of roads in China.

At least five vehicle makers — Hyundai, Mazda , Toyota, Volkswagen and Nissan — have approval to transfer some of their data out of China, but none of those approvals are for data to be used to train AI systems, according to lawyers, state media reports and analysts.

Penalties for violating data privacy laws that came into effect in China in 2021 are a major risk factor for data operations, groups representing foreign businesses in China say.

When asked about competition from Chinese EV makers during a call with investors after Tesla’s quarterly earnings in April, Musk said Tesla should be viewed more as an AI company.

He said he was confident Tesla’s FSD system would work “pretty well without modification in almost any market”. It would work better with “country-specific” training, Musk said.

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Planning: how to create a commercial plan for 2022

Planning: how to create a commercial plan for 2022

To achieve the objectives that companies set for themselves successfully (even in a pandemic), they must develop  an adequate commercial plan that is feasible to execute within a certain period.

<<< Main elements of a commercial plan>>>

Its importance lies in the fact that it will allow you to design strategies created jointly from the sales and marketing areas to organize, define and execute the commercial processes that will make your company's business more profitable.

In this guide, you'll get some essential tools to help you design a comprehensive commercial plan for 2022 so that you can achieve the goals that will make your company more scalable and profitable. Below, all the most relevant aspects of the business plan are summarized in four sections :

Executive summary

Internal analysis, external analysis.

  • Forecasts and innovations.

Then, in each section, we will break down each of its components.

It corresponds to the first stage of the commercial plan for 2022  and is one of the most important. It contains comprehensive information about the company . This summary should focus on the most specific and vital data, and should not exceed two pages . The priority is to describe the main market that your business is targeting.

Also take into account in this first stage of the commercial plan for 2022 your sources of financing, your financing, and possible investors, which will allow you to have a record of the budget allocation that you can count on for the commercial activities of the year.

The internal elements that you must analyze correspond to the SWOT analysis , regarding the strengths and weaknesses that your company has as regards the availability of personal capital resources, assets, product quality, internal and market structure, market perception, among others.

SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)

it is a tool for studying a situation, institution, project, or person, analyzing its internal characteristics (Strengths and Weaknesses) and its external situation (Opportunities and Threats) in a square matrix.

Here, the objective is to determine the competitive advantages of your company under analysis and the generic strategy that is most convenient based on its characteristics and those of the market in which it is inserted.

Commercial strategy 

At this point, you must describe the actions that your commercial team will carry out using different tools, such as the Gantt Chart, where you can organize and schedule activities, taking into account, among other things, time variables.

Marketing plan

In the marketing department, it is also essential to design a plan. It must have, first of all, the objectives to be achieved in the short and long term. One of them could be to increase the domain authority of your business by generating more content.

<<< 7 tips to maximize your marketing strategy >>>

Also, develop the strategies to implement to attract new customers, that is, what you will do to attract them to meet your objectives, and the planning to carry out the entire plan.

It is very important that you prepare the marketing plan for the following reasons:

  • You will obtain a more exhaustive vision of the market sector in which your company is inserted.
  • You will know your competitors better.
  • It allows you to define a communication strategy, propose actions focused on the objectives of your company and guarantee its coherence with other objectives.
  • You'll be able to plan your activities for a year to determine what budget and resources you should allocate to each of them.
  • You will be able to anticipate possible unforeseen events that hinder the fulfillment of your objectives.
  • You will be able to carry out periodic evaluations of your commercial plan and execute the changes that it needs, as you find possible flaws.

Companies could not exist without an environment that surrounds them , therefore, the external analysis allows you to fix the opportunities and threats that the context of your company could manifest.

The process to understand those opportunities and threats can be achieved by describing the possible events in the context that could influence your company. For this, an important aspect is that you consider how your company is positioned in the market and also concerning the competition.

Market  

According to the International Labor Organization (ILO) , more than 436 million companies in the world are at risk of interrupting their activity due to the crisis generated by COVID-19, although we're going through a mass vaccination campaign since late 2020. 

This figure causes a marked imbalance in positioning between different industrial sectors, since while many business areas were affected, such as tourism and hospitality, cinemas and theaters, musical events, etc., others such as software developers and digital platforms were favored by expanding their market and profits.

Taking these figures into account, y our goal should be focused on developing activities that take advantage of the technological boom in digital business management platforms , to adapt to the new business working conditions.

Competition

Naturally, depending on the sector to which your company belongs, you must identify your closest competitors and be attentive to the deployment of strategies that they develop within a certain period, and have knowledge of them to overcome them with more effective and intelligent strategies, or at least not to be badly positioned against said competitors.

Forecasts/Innovations

Forecasts are part of the business plan and will help you anticipate opportunities and potential risks , so you can prepare for obstacles that could hinder the progress of your business.

Do not postpone them, focus now that there is time to write down those ideas that were going around in your head the last semester or in a meeting of design thinking and that could mean guaranteed success to begin 2022.

Some of these ideas that you do not want to miss can be, for example, R&D innovations, which will be a point in favor of the creation of your company's commercial plan for 2022 . These are made and incorporated by corporations and institutions for the development of new products and services.

For example, if you plan to incorporate a new product during the time that the pandemic lasts, you can opt for new management software for your tasks in the company.

Designing a "home office" work plan that minimizes health risks for your employees, but instead maximizes productivity, is among the innovative alternatives that you can implement.

Later, when your collaborators obtain the complete vaccination schedule, you can gradually encourage them to return to face-to-face attendance, but only if it is strictly necessary. Today digital tools have proven to be effective and great allies to increasing productivity at work.

Also, customer satisfaction should be a priority . For this reason, make sure that they have free access to your online store, with detailed products and corresponding payment platforms. Be careful with this because if the conditions for the transfer operations are not right, the client could get scared and not return to your web page.

If you have a physical store, incorporating a device precisely to measure customer satisfaction can be an excellent option to crown the commercial plan for 2022 , and if the device prevents contact, the better. There are already models with this feature on the market.

<<< Commercial area: Establish a sales plan to achieve objectives >>>

You can add more innovations and strategies; this was just an instructional guide for you to plan your commercial plan for 2022 . Remember that no crisis lasts forever, so here is your chance to have the world in your hands.

Commercial strategy for closing sales

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Superior Shopping Centre Business Planning

Every retail shopping centre should have an accurate and successful business plan. In this way, you can address the key issues that will help the property perform financially and physically.

There are many stakeholders to the performance of a retail property. Here are the main ones:

All of these groups have special points of focus when it comes to the results achieved from the property. That is where an experienced property manager can bring stability to the equation.

Retail Property Control

To bring about the levels of control and focus for all parties, a business plan will integrate the key issues strategically.

Here are some tips to help you construct a shopping centre business plan:

Define the territory or the region that the property serves from a retail shopping point of view. A full 80% of the customer base should be located within that area or region. When you understand the customer shopping territory , you will also understand the customer types.

Do a Customer Survey Each Year

man holding sales results chart

It will be necessary to do a market survey of customers. That should be undertaken over a period of two or three weeks at various times on various days. There will be different shopping patterns to understand when it comes to the customer profiles and property visitations.

1. Lease Tracking and Awareness

Review all of the leases within the property for critical dates, lease terminations, and special terms and conditions. Pay particular attention when it comes to tenant renovation and relocation requirements .

2. Vacancy Threats and Risk

From the lease review process, you can look at the vacancy threats and vacancy situations that can arise over the next 12 to 24 months.

Prepare for the vacancy threat through a tenant retention plan and lease marketing process. Talk to all of your tenants regularly so you know what may be happening to them or in their business segments. It is always preferable to solve a vacancy issue before it happens.

3. Priority Tenants and Groups

Divide your tenants into groups of desirability. Some tenants will be critical to the future of the property and on that basis should be retained at all costs.

The loss of a specialty tenant from within a property is not really a big issue, however if you get too many of them at the same time it will destabilise the tenancy mix and the clustering strategies you have already locked in.

4. Anchor Tenant Awareness

real estate team planning

Review the profiles and the stability of the anchor tenants. Look for any threats that could apply to their occupancy and trade.

A successful anchor tenant will bring customers to the property and trade to the specialty tenants. Ensure that the relationships between both are quite good.

5. Income and Expenditure Tracking

The income and the expenditure performance of the property over time should be compared to the averages within the property type locally.

The outgoings for your property should be suitably similar to other local properties. In that way your rental structures can be competitive and realistic.

6. Market Rentals by Property Type

Undertake an assessment of market rental through your town or city; take into account properties of similar type. Also take into account the age of the competing retail properties and the relative locations.

From all of this information, you can determine your market rental strategies for the coming 12 months. You can then add to that the lease strategies that are required to fill the vacancies that will inevitably occur.

retailer using calculator on desk

Accurate Retail Information

So this list will give you the foundation for establishing a retail business plan for your property.

When you have accurate information at the start, the planning process and the tenant retention plans are easy to put together.

Every retail plan of this nature should be reviewed quarterly to take into account any shifts and changes in the marketplace.

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Commercial property and contemporary apartment in the centre of a lively village.

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Véronica CALLAGHAN, your local Leggett agent, says :

A existing business in Aigre, Charente in the heart of the village centre. It has being tastefully restored and has a bright and airy, open plan sitting area and kitchen diner. The shop occupies the ground floor with kitchen prep area. The property can easily be sub-divided and either the shop or the living area could be rented individually. Read more ...

On the ground floor - 75m2 is used currently as a shop. To the rear of the property is a preparation area / professional kitchen units and store room - 20m2 There is a private entrance with staircase to the first floor On the first floor - Sitting room 21m2 with large double glazed windows, opening to the dining area and kitchen 43m2. Loft style, double height. Bedroom 17m2 to the rear of the property. Bathroom 8m2 with electric radiator, bath, walk in shower, double sinks. Second floor - a large mezzanine area of 47m2 where you could create a further bedroom. Space to create living accommodation / bedroom 59m2 Courtyard to the rear of the property. This is an opportunity to purchase a thriving business in the heart of Aigre with living accommodation above. Other information - Mains drains, Fibre, double glazing, walking distance to schools, college, medical centre and restaurants. ------ Information about risks to which this property is exposed is available on the Géorisques website : https://www.georisques.gouv.fr

*Property details are for information only and have no contractual value. Leggett Immobilier cannot be held responsible for any inaccuracies that may occur. **The currency conversion is for convenience of reference only.

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[YOUR COMPANY NAME] INSERT IMAGE/LOGO [YOUR NAME] [YOUR ADDRESS], [YOUR CITY] [YOUR STATE/PROVINCE] Phone: [YOUR PHONE NUMBER] Email: [YOUR [email protected]] BUSINESS PLAN

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What’s in This In-Tray Guide?

You will find the following in this comprehensive guide. So, make sure you read everything.

  • 3 essential in-tray resources to boost your chances of success
  • 1 in-tray exercise example (and links to more)
  • The 3 simple steps to in-tray exercise success

2 Essential Resources for In-Tray Exercise Success

  • You can try a real in-tray exercise here .
  • You can listen to the Asessment Centre HQ’s podcast episode covering ‘in-tray success’  here .

What Is the In-Tray Exercise?

The in-tray exercise is an assessment activity that employers use to measure the candidate’s ability to handle the work expected of them. It’s a business simulation where one plays a member of staff who has to deal with the workload of a typical day.

Note that the in-tray exercise is very similar to the ‘e-tray exercise’. (The e-tray exercise is an electronic version of the in-tray exercise.)

What Does the In-Tray Exercise Measure?

The in-tray exercise measures different skills and abilities such as analytical skills, communication skills, problem-solving skills, time-management skills, writing skills, delegation skills, and business acumen. The purpose of the in-tray exercise is to evaluate and test how well you:

• Efficiently use your time/resources • Prioritize your workload • Identify, investigate, and address key issues • Anticipate and resolve problems • Delegate and liaise with others

It also gives the employer a great opportunity to get an overall flavour of your work style and approach. All these things help employers to make their recruitment process effective and pick the best candidate for the entire organisation.

Take In-Tray Exercise Now

How Does the In-Tray Exercise Work?

At the beginning of the exercise, you will receive background information about the imaginary work scenario to help you build a clearer picture and give you context. Often this will include:

  • All the information about your imaginary role and responsibilities (in most cases this will be similar to the role that you’ve applied for).
  • The key issues and objectives of the organisation .
  • A description or organisational chart with a list of the staff that you are responsible for and a list of colleagues and/or supporting departments.
  • A summary of third-party relationships & people or companies outside of your own (e.g customers, suppliers, distributors, etc).
  • A business calendar for the next few months.

This Sounds Terrifying!

Most people feel nervous about the in-tray exercise, but don’t worry! We’ll walk you through, step-by-step, in clear detail, so that you will be able to find the best way for you to feel confident and do well in the exercise.

Be sure to read our article ‘ How To Prepare For An Interview Or Assessment Centre ‘  and also ‘ How To Deal With Nerves And Anxiety ’ for some expert guidance and secret techniques that genuinely work.

Can You Give Me an In-Tray Exercise Example?

Here is a sample exercise:

You have just returned to work following a two-week holiday. Your colleague who was covering for you during your absence has left a pile of work on your desk marked for your attention. It includes reports, memos, emails, presentations, telephone messages, handwritten notes from colleagues, webpages and letters.

You need to review each item and then provide the following:

  • A list of actions that includes your analysis of each of the items
  • The priority that you would assign to each item
  • The people who should be involved (colleague, department, 3rd party, other stakeholder etc)

Time limit: You have 60 minutes to complete the exercise.

PRO TIP: Thoroughly read the brief and supporting documents you are given. You need to understand them well so that you will be able to consider the entire context of the exercise. You are given enough time to think about the best approach for the work scenario. Balance working quickly and thinking carefully so that you will be able to finish within the given time frame and do well in the application process.

You can find real in-tray exercise practice tests that are timed, graded, and scored online with detailed explanations and tips by clicking here . (These tests can also be printed out for pen and paper practice sessions.)

Doing this will allow you to practice the test as it will be presented in real life , see how you will score, and learn where you need to improve and how to improve .

Learn the Real Secrets of In-Tray Success With Our ‘In-Tray Masterclass

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3 Simple Steps to Success

Step 1 – get into the right mindset.

Before you start working through the pile of documents, it’s vital that you have this question foremost in mind:  “What are the key things this employer wants from the person doing this role?”  Keep this thought in mind throughout the exercise, it will ensure that your decisions and recommendations remain relevant to the overall aim.

PRO TIP: You can get total clarity on this by asking the company’s HR or personnel department to forward you a job description for the role beforehand. (This is perfectly fair and not only will this help you enormously in your preparation but it also demonstrates initiative and drive.) The job description will have a list of the core competencies required for the role. It’s basically a checklist of what the employer is looking for.

Step 2 – Scan and Prioritise

The first thing you need to do is to prioritise your workload. This will ensure that the most important and urgent tasks are given priority.

In-Tray Exercise 1

For each item:

  • Identify the issue/problem. Understand it. Consider its implications. Understand the motivation and drivers of the sender.
  • Make a note of the important details. (e.g., When is the item dated? Is there a deadline?)
  • Answer this question: ‘How important and urgent is this issue?’

Use the four boxes to assign a number to each item and ‘place’ it into the corresponding box. (If you have actual physical documents during the exercise it’s best to group them into four piles. If you’re doing this electronically then mark them 1-4 or use some notepaper. Whatever method you use, it’s important to keep track as you can quickly become overwhelmed.)

Items that you place in box 1 must be both important and urgent.

In-tray exercise 3

After prioritising the workload, you have to address each item in the following order:

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Stop worrying! Download a 12-step assessment day cheatsheet & be perfectly prepared.

Click here to download your copy.

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Step 3: Deal With Each Item

For each item that you placed in box 1 you need to provide:

  • A list of actions that includes your analysis of each of the items.
  • The priority that you would assign to each item. [We’ve already done this of course.]
  • Include who should be involved (colleague, department, 3rd party other stakeholder etc).

While doing this consider the following:

  • In the real world, how would I deal with this?
  • What can I do to resolve this issue, now or in the future?
  • Should I delegate this or take ownership of it myself?
  • What colleagues or third parties can help me resolve this?
  • What colleagues or third parties need to be made aware of this?
  • Do I need to flag this for a follow-up?
  • Remember to write down all of your observations. Use sticky notes or post-it notes to annotate them as you go along. This is a big help when you have up to 30 documents to review. It also demonstrates your thought process to the assessors.
PRO TIP: This is when you MUST have the job description for the role at the forefront of your mind. Keep asking yourself “what does this company want from someone performing this role?” as answering that question will ensure you deal appropriately with every item. ADDITIONAL PRO TIP: Remember what’s being measured here: analytical skills, communication skills, problem-solving skills, time-management skills, writing skills, delegation skills, and business acumen. Keep these in mind as you address each item.

Follow the workflow through and repeat the above process for boxes 2,3 and 4.

Download Your In-Tray Masterclass Now

Real in-tray tests.

Remember you can practise real in-tray tests, as used by employers  here ,  here,  and  here . Going through the above process with a real workload will show you exactly what to expect and is a must for people who want to do everything possible to have the best chance at success.

Nothing will improve your ability to perform strongly on the day more than practice. Practising improves your skill and confidence and also helps you to stay calm during the assessment.

In-Tray Exercise Podcast

You can listen to our podcast on in-tray success, a companion to this guide, by  clicking here .

Some Final Questions for You…

  • Do you have to take a numerical reasoning test or a verbal reasoning test ? If so you may want to check out the aptitude tests section of the site.
  • You can find practice tests and tons of free advice on every other type of ‘reasoning test’ too: numerical , verbal , abstract , logical , inductive , diagrammatic , spatial , mechanical comprehension , UKCAT and Watson-Glaser tests .
  • Worried about your assessment day? Maybe you’re worried about performing a presentation or preparing for an  interview or group exercise   or   in-tray exercise ?
  • Perhaps you’d like some guidance on  how to deal with nerves & anxiety at your interview ?
  • Lastly the Tools and Resources page is packed with useful equipment and ‘A’ List recommendations that will make your life easier.

Final Words

Hopefully, this guide will help you come out on top of the selection process by doing well in the exercise. If you have suggestions or requests about tests or assessments you want us to cover,  let us know .

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Recreation Center Business Plan

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Play Time for Kids

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

This document has been prepared to provide the reader with information about Play Time for Kids, including business structure, company goals, projected growth, venture capital requirements, start-up costs, an investment analysis and the industry trends.

Play Time for Kids has identified the family entertainment industry as its primary interest and to that end the company has focused its efforts on the development of one or more family entertainment centers (FEC) to provide quality family entertainment activities to the communities in the Our County, Big City area.

Focused on family entertainment in a family-oriented community, Play Time for Kids is a company primed to take advantage of an expanding and profitable industry.

Entertainment has become a buzzword of the new millennium. David L. Malmuth, senior vice president of the TrizenHahn Development Corp. has observed, “People are not just interested in buying things. They want an experience, adding that the keys to providing successful experiences are authenticity, fun and participation. Americans have money to spend and will spend it on entertaining themselves. In fact, statistics show that people in the United States spend more on entertainment than on health care or clothing.”

Quality family entertainment is the focus of Play Time for Kids. The construction and commercialization of one initial FEC is factored into the initial development phase detailed within. The company’s proposed FECs will be designed to provide the type of family entertainment and adventure the current market demands.

In addition to other funding and capitalization efforts detailed herein, the Company anticipates that it will seek funds from other sources who may assist in purchasing the building we will initially lease.

A recent census conducted by the U.S. Census Bureau found that from 1999 to 2000, personal consumption and expenditures for amusement and recreation increased by $31.5 billion, with an overall industry gross of $56.2 billion. Source: U.S. Census Bureau, Statistical Abstract of the U.S: 2000 – The National Income and Product Accounts of the U.S., 1929-94, Vol.1.

With our strong management team and our aggressive marketing plan, we project a consistent and minimum annual growth of five percent.

Recreation center business plan, executive summary chart image

1.1 Objectives

The objectives for Play Time for Kids are:

  • To create a service-based company which exceeds customers’ expectations.
  • To increase the number of customers by at least 20% per year through superior customer service and word-of mouth referrals.
  • Have a clientele return rate of 90% by end of first year.
  • Become an established community destination by end of first year.
  • Educate the community on what the company has to offer.

The company will become the industry leader in Northeast Our County.

1.2 Mission

To provide excellent child play care in a kid-friendly atmosphere while ensuring our customers, both parent and child, receive excellent service in a playful, educational, and safe environment.

1.3 Keys to Success

The keys to success in our business are:

  • Superior Customer Service: high-quality hourly care and service.
  • Environment: provide a clean, upscale, enjoyable environment conducive to giving professional trusting service.
  • Convenience: offer clients a wide range of services in one environment.
  • Location: provide an easily accessible location for customer convenience.
  • Reputation: credibility, integrity, and 100% dedication.
  • Indoor activities for year-round entertainment.
  • Facility designed to curb overcrowding.
  • Seasoned management team.

The company believes that certain risk factors can be minimized by:

  • Initial capitalization of the company to sustain operations through year one.
  • Low overhead through the use of multi-skilled employees and continual training (i.e., child development classes).
  • Strong customer base through aggressive marketing.
  • Strong community ties and involvement with nonprofit organizations.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Current Family Entertainment Centers (FECs) have a primary emphasis on hands-on discovery learning through free spontaneous play, but can also incorporate some elements of pure entertainment. Most adults don’t fully understand and appreciate the value of spontaneous play to the social, physical, mental, and emotional development of their children, so these new types of children’s centers are marketed in the U.S. as children’s discovery or edutainment centers. This communicates to the parents that their children will learn by visiting them. Therefore, the parents show up with their children because it’s good for them, and the children show up because it’s just plain fun. Play Time for Kids is a new company that will provide high-level Play Care, Edutainment and Customer Service in the following categories:

  • Play care
  • Educational play with learning
  • Children’s activities
  • Birthday parties
  • Special events
  • Staffing that adds that “personal touch”
  • Photography available for birthday parties and other events (includes digital photos on CD)
  • Souvenirs (T-shirts, hats etc.)
  • Special requests
  • Convenient hours of operation

What will set Play Time for Kids apart from the competition is the commitment to provide all these services in one convenient location.

2.1 Start-up Summary

The company will obtain use of a new structure. Start-up costs will cover a number of details to convert the structure to suit the owner’s concept both visually and functionally. Included in start-up costs are all the necessary expenditures to cover the pre-opening, hiring, staff training, addition and revision of equipment needs, supplying toys, soft play equipment, inventory, and other essentials.

Long-term assets represents the value of the barn and the land on which it sits. Renovations are expensed.

Recreation center business plan, company summary chart image

2.2 Company Ownership

Play Time for Kids is a privately-held S corporation co-owned by Carry Tayker and Wanda Magic. To achieve our objectives, Play Time for Kids seeks financial backing. The loans will be repaid from the cash flow of the business, and will be secured by the assets of the company, and backed by the character, experience, and personal guarantees of the owners.

Products and Services

The company will set itself apart from other child entertainment facilities that may offer only one or two types of services. Parents desire these services and are frustrated because they must go to several different businesses or travel long distances to find these types of activities. The focus of the company is Play Care and Party Place. The services provided will be exemplary.

The business atmosphere will be clean, friendly and upscale where customers will be comfortable leaving their children. We will offer a personal touch, fun innovative learning through play, and a memorable hassle-free Birthday party.

The business will offer event photos of children’s birthday parties (taken by a professional photographer), a unique concept in this type of industry. The parent will be provided a CD at the end of the party.

Play Time for Kids offers:

  • Movie Theatre
  • Large playscape
  • Playhouse area
  • Staff-led Group activities
  • Theme Nights
  • Art and crafts
  • Karaoke stage
  • Computer Games
  • Playstation 2, XBox, GameCube
  • Separate Toddler area
  • Educational toys and manipulatives

Play Care Rates  (Drop-in)

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$30 Annual Family Registration

Birthday Party A = $200

  • 45 minutes in themed party room
  • Generic colored paper products
  • 100% fruit juice
  • Party attendant
  • Birthday cake (flavor of choice)
  • Goodie bags

Birthday Party B = $285

  • Party attendant (dressed in customer’s party theme)
  • Birthday cake (flavor of choice, and party theme)
  • Play Time for Kids T-shirt for the birthday child
  • Reserved parking spot for the birthday child’s parents
  • Event pictures (taken by professional photographer) received on CD
  • Buy One, Get One Free coupon for each party guest to return with a friend

Family Savings Plan Parents may pre-pay for a discount:

  • $110 = $100 (10% DISCOUNT)
  • $230 = $200 (15% DISCOUNT)
  • $360 = $300 (20% DISCOUNT)

Referral Program

Refer a friend who has never been to Play Time for Kids and receive $5 OFF the price of a new membership.

Market Analysis Summary how to do a market analysis for your business plan.">

Research indicates that the prime market for an FEC is near urban neighborhoods comprised of middle- to upper- income families. These families search for ways to engage their children that are more than just activities their children passively enjoy.  As Howard Gardner writes in his book, The Unschooled Mind : “As institutions, schools have become increasingly anachronistic, while museums have retained the potential to engage students, to teach them, to stimulate their understanding, and, most important, to help them assume responsibility for their own future learning.” This is the idea behind an edutainment facility. Its purpose is to stimulate children so that they can transition from being taught or entertained (passive) to learning through play (active).

4.1 Market Segmentation

The U.S. Census Bureau 2000, and the Our County website provides the following demographic information about NorthEast Our County and the areas surrounding it.

Recreation center business plan, market analysis summary chart image

4.2 Target Market Segment Strategy

Our success will be based on our ability to become known within the community. We must focus on the specific market segments whose needs match our offerings. Focusing on targeted segments is the key to our future. Therefore, the focus and marketing message will be the services offered. Once the message is developed, it will be communicated and fulfilled.

Stay at Home Moms and Dads For a variety of reasons, stay-at-home Moms and Dads are an attractive segment. Parents are looking for a place to take their children to play and learn. They live in the middle class suburbs surrounding the metropolitan area. The market segment customers will lead a lifestyle in which their children play a large part in their lives. The company also focuses on meeting the local community need for child play care and birthday party services within the 10-mile radius of Big City. Flexibility in the program allows children to be dropped off, or to come and play with parent.

Elementary Schools The company would also like to establish a relationship with the local elementary schools; there are 15 elementary schools in this target area, for possible field trips. The strategy for this market is to provide periodic communications through the PTA channels, which are available to us uniquely due to past service to the PTA. This strategic approach will provide credibility and frequency of communication to our target market.  While this market is not the primary focus, sufficient flexibility to handle this secondary market is important to producing supplemental revenues.

Day Cares Local Day Care centers in search of field trip alternatives can select the Play Time for Kids as a destination that combines playtime with learning interactions. While this revenue would not be the company’s primary focus, its potential could increase revenue base by building strong community relations. 

Weekend Working Couples Another segment of our business includes weekend working couples, meaning weekend child care.  This client base could provide a 1% profit for the company since most Day Care centers do not operate on the weekends. This service allows part-time weekend workers and/or fitness center aficionados to drop their children off for several hours. While this market is not a primary focus, sufficient flexibility to handle this market is important to the local “word-of-mouth” marketing strategy.

4.3 Service Business Analysis

Success will be based on the ability to become known within the community. Play Time for Kids must focus on the specific market segments whose needs match its offerings. Focusing on targeted segments is the key to the company’s future. Therefore, marketing messages will be focused on the services offered. We will develop our message, communicate it, and fulfill our commitment to excellence.

Play Time for Kids is part of the Recreation Center industry, which includes everything from bowling, skating, mini-golf, and batting cages to playgrounds and water parks. We provide a much higher level of direct child care than do most other recreation centers, and straddle the line between family entertainment center and daycare facility. As such, we need employees with the child care credentials to satisfy safety-conscious parents, and programs with the “fun” value to lure in repeat customers.

4.3.1 Competition and Buying Patterns

Price, service, certification and reputation are critical success factors in the edutainment/play care services industry. The company will compete well in the defined market by offering competitive prices, high-quality play care services, and leading-edge educational toys with certified, college-educated instructors, and by maintaining an excellent reputation with parents and the community.

Competition for the Play Time for Kids comes in various forms. Chuck E. Cheese, McDonald’s, and Clubhouse for Kids only, are the only places within a 10-mile radius from our company that offer services similar to ours, and all are limited to arcade games and soft play.

Large Chain Children’s Entertainment Venues The competition in the defined geographic area includes Chuck E. Cheese and McDonald’s. Both of these venues are limited to arcade games and soft play. They offer entertainment value, but little educational value.  Play Time for Kids is differentiated from these types of facilities by offering an interactive environment with components designed to allow children to learn through play. 

Small, Independently Owned Child Play Care Venues The competition in our area includes Club House for Kids. This venue does offer some learning through play experiences, but it is limited in its direction of activities. Themed rooms allow for free play but there is little interaction with the staff.  Play Time for Kids will be differentiated by offering structured child development activities and play groups guided by Play Time for Kids employees.

Strategy and Implementation Summary

The company will succeed by offering its clients’ children a safe and secure care environment, and close personal attention. The goals of the center are dual-sided: to help parents feel good about the care of their children, and to make it a safe, educational, and fun experience for the child.

5.1 Competitive Edge

Play Time for Kids’ services will be positioned to provide customers with a premium amusement and edutainment experience:

  • Charge a premium price (per industry standards) but not exceed what the market can bear
  • Obtain all appropriate licensing and certifications
  • Thorough pre-hire background screenings performed on all individuals before hired for employment
  • Innovative, unique birthday parties
  • The personal-touch in a family-friendly atmosphere that only Play Time for Kids can provide
  • Play groups, as well as the wealth of child development knowledge, delivered by the Play Time for Kids employees
  • The convenience of drop-in play care, in the same location where parents can take fitness classes

5.2 Marketing Strategy

The company’s marketing strategy is focused on establishing our brand and promoting our image through a variety of marketing channels.  An overview of our marketing strategy includes:

Logo & Identity Development.  A professional logo has been developed. This brand will be promoted through a broad mix of identity pieces including business cards, stationery, car signage, and other communications.

Partnership Programs.  The company will develop community partnerships to offer discounts to the clients of other businesses that cater to our target market, such as:

  • Local hospitals which provide birthing classes
  • Local fitness centers without child care
  • Local elementary schools (there are 15 within a 10-mile radius)
  • Pediatrics offices, pediatric dentistry and pediatric orthodontist offices

Brochures.   A brochure will be designed to communicate our presence, the services we offer, and the clients we serve in the community. 

Flyers.   Flyers will be designed for posting at community locations that attract high traffic volumes of consumers within our target market, such as:

  • Local grocery stores and dry cleaners
  • OB/Gyn offices
  • Local child care centers
  • Local children’s clothing stores (i.e., Kid to Kid and Babies R Us)
  • Local stores that carry children’s items (i.e., Target, Wal-Mart, and Kohl’s)
  • Local children’s programs (Keller Point, Emler Swim Center, YMCA, and Texas Tumblers Gymnastics, Dance centers)
  • Libraries ~ children’s books section
  • Local bookstores ~ children’s book section (i.e., Barnes and Noble, and Teachers Tools)
  • Fitness Centers ~ child care area (if they have one)

Advertising.   Ads will be placed in publications that cater to the demographics of our target market, including:

  • Big City Child
  • Dallas Child
  • Positively Parenting
  • Kids Directory

Public Relations.   As owners, we will promote our company and it’s benefits to the community through efforts to have articles published in new media and efforts to gain coverage on local radio and television programming. Potential media outlets include:

  • Big City Star-Telegram Newspaper
  • Big City Child: A magazine serving families of Our County
  • Big City Small Business Times
  • Womens Directory
  • Local schools PTA newsletters

Direct Mail.   Direct mail channels will be used to initially introduce our presence to the community and attract first time visitors. The need for this type of advertising will taper off as repeat and referral business increases.

Website.   All brochures, flyers and other marketing tools will promote our website, detailing our services that benefit the community. Our website will also provide all information about us, our operational hours, schedules of events, and a registration form for online enrollment.

Email.   Email will be used to connect with our clients frequently through monthly newsletters and updates on upcoming events and special offers.

Events.   Special events, including a grand opening and special holiday parties, will be promoted to increase visibility in the community and to attract first time or infrequent visitors.

5.3 Sales Strategy

The company will make its primary profit through the excellent play care and edutainment of children. Even though our pricing strategies are set at competitive levels, the company expects to gain revenue within the first year by word-of-mouth advertising. The company expects to double its clientele every 6 months during the first 18 months after opening for business.

Play Time for Kids offers a unique solution that will be introduced to the market through targeted advertising, direct mail, website optimization and direct sales. The venue provides families the ability to enjoy their leisure time participating in activities together or leaving their children to explore on their own.

5.3.1 Sales Forecast

The strongest revenue during the first quarter of operation will be birthday party sales and membership fees. Afterwards, word-of-mouth and local advertising will gain market share for the company, with parents using the daily drop-in service, day cares using it as a field trip destination, and monthly holiday-themed parties.

We anticipate increasing margins in years two and three, through greater efficiency and obtaining bulk rates on paper products.

Recreation center business plan, strategy and implementation summary chart image

Web Plan Summary

The Play Time for Kids website will be the virtual brochure for the company, as well as its online “home.”

It will showcase the company’s value proposition and reinforce the qualifications and experience of the organization and staff, as well as provide a comprehensive overview of the services provided to potential and current clients. The site may also provide access to online parent resources and a community calendar.

The key to the website strategy will be combining a very well designed front-end, with a back-end capable of collecting contact information for continued communication with those interested in our services.

6.1 Website Marketing Strategy

The Play Time for Kids website address will be used on all corporate and promotional materials. The website should be used to support all the newly developed messages and should have “active” content that brings people back to the site as an information resource. This activity will be supported by the marketing plan through the development of newsletters, promotional events, and public relations.

6.2 Development Requirements

The Play Time for Kids website will be initially developed by a professional marketing agency that provides creative design and technical development resources. ABC Communications will create and maintain the website, DEF Hosting will host the site and provide the technical back end. The company will maintain a simple, user-friendly interface that is fun and inviting to our target audience. The website logos and graphics will be consistent with printed promotional materials.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Carry Tayker and Wanda Magic have extensive experience in management of Child Care and Family Entertainment Centers, respectively. Their attached resumes detail this experience in the Big City area.

7.1 Personnel Plan

Financial plan investor-ready personnel plan .">.

The company’s financial plan is based on conservative estimates and assumptions. We plan to combine owner investment and loans to fund our start-up requirements and to sustain the business to break-even, within 8 months to a year.

8.1 Start-up Funding

Total start-up expenses and assets required will be funded as shown in the Start-up Funding table, below. The $50,000 of Current Borrowing will be repaid within 3 years; the long-term liabilities will be repaid within 6 years.

8.2 Important Assumptions

  • The company assumes steady growth from good management.
  • The company is assuming adequate loans to sustain it during start-up.

8.3 Break-even Analysis

The Break-even Analysis is based on the average of the first-year figures for total sales by units, and by operating expenses. These are presented as per-unit revenue, per-unit cost, and fixed costs. These conservative assumptions make for a more accurate estimate of real risk. With these projections, we should surpass the break-even point in September of our first year.

Recreation center business plan, financial plan chart image

8.4 Business Ratios

The following table outlines some of the more important ratios from the Recreation Center industry (also referred to as Family Entertainment Centers). The final column, Industry Profile, details specific ratios based on the industry as it is classified by the Standard Industry Classification (SIC) code, 7999.9910.

8.5 Projected Profit and Loss

As the Profit and Loss table shows, the company expects to continue its steady growth in profitability over the next three years of operations. Although the last three months of 2006 will generate a net profit, it is not expected to be high enough to counteract outflows in the first three quarters. However, the second and third years, even with additional employees to handle the extra business, should generate increasing profits.

Recreation center business plan, financial plan chart image

8.6 Projected Cash Flow

The cash flow projection shows that provisions for ongoing expenses are adequate to meet the needs of the company as the business generates sufficient cash flow to support operations. These cash flow projections depend upon receiving the loans necessary to fund our start-up requirements. The table, below, shows the anticipated repayment of the loans.

Recreation center business plan, financial plan chart image

8.7 Projected Balance Sheet

Our projected balance sheet is presented in the table below. Although we do not become fully profitable until year two, we expect a steady increase in net worth over the foreseeable future.

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Cyber hacking

The ABC can confirm e-script provider MediSecure is the health organisation at the centre of the large-scale ransomware data breach announced by the national cyber security coordinator on Thursday.

MediSecure's website has been pulled, and the company has posted a statement saying it has identified a cyber security incident impacting "the personal and health information of individuals".

A MediSecure spokesperson said it was too early to respond to detailed questions about the nature and extent of the incident but added that "a lot of investigation work is being conducted". 

The company is a prescription exchange service, which facilitates electronic prescribing and dispensing of prescriptions.

In a statement, the company said it has "taken immediate steps to mitigate any potential impact on our systems", and believed the incident originated from a third-party vendor.

"MediSecure takes its legal and ethical obligations seriously and appreciates this information will be of concern," it said.

"MediSecure is actively assisting the Australian Digital Health Agency and the national cyber security coordinator to manage the impacts of the incident."

MediSecure was one of two companies awarded contracts by the federal government to provide PBS e-script services until late last year, when the tender was granted exclusively to another company, eRx.

In October last year, the ACCC granted authorisation for MediSecure to transfer all publicly- funded electronic prescriptions and data to eRx.

MediSecure said at the time it would remain in the market providing private prescriptions. It's unclear what data has been compromised and over what time period.

Earlier, national cyber security coordinator Michelle McGuinness was unable to share what company had been affected.

"I am working with agencies across the Australian government, states and territories to coordinate a whole-of-government response to this incident," Lieutenant-General McGuinness said in a statement on social media platform X.

"We are in the very preliminary stages of our response and there is limited detail to share at this stage, but I will continue to provide updates as we progress while working closely with the affected commercial organisation to address the impacts caused by the incident."

The organisation is also working with the Australian Federal Police.

Cyber Security Minister Clare O'Neil says she was briefed on the breach, and the government had convened a national coordination mechanism.

"Updates will be provided in due course," she said on social media platform X.

"Speculation at this stage risks undermining significant work underway to support the company's response."

Australian Medical Association president Steve Robson said the organisation is seeking urgent briefings on the incident.

"There needs to be a thorough and transparent investigation, backed by clear and consistent communication to the public and profession," Professor Robson said.

"These are critical to maintaining community trust in the electronic systems that are now integral to the functioning of our health system."

In October 2022, Medibank revealed hackers accessed the personal data of all customers across its Medibank, ahm and OSHC brands, affecting millions of Australians.

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