Workshops

Workshop Five- Business plan

As a follow up to the dragons den workshop we were asked to form our own business plan using the previously discussed business model canvas as seen below.

1024px-Business_Model_Canvas.png

I followed the same plan as before, mapping out the canvas frame on a big whiteboard at home. Then I work through each section one at a time and I bullet pointed the main points ready to expand later.

Then I wrote out each point and expanded it as much as possible thinking about many different factors I’ll list a few examples below;

  • Legislation- animal welfare, staff rights, land use, pet shop licence, exotic animal licences.
  • Competitors- other local pet store, online distributors, breeders, other re homing centres staff- wages, hours, rights, qualifications
  • Base costs to run the store- food, water, supplies, heating, electricity etc
  • Base costs to start up the business- building, tanks, storage, set up, transport etc
  • Training needed- first aid, driving, exotic experience, breeding, blogging, website running, public speaking.

My idea was a variation of my dragon den group idea- mine was a rescue pet and supplies store, they offered training and handling events as well as adoption of animals unsuitable for rehoming for a monthly fee.

The comments I received upon my plan being marked was:

“This is a very good business plan. Strong understanding of the value proposition and the elements of the business plan. More direct market research data to better define routes to market would add value.”

I was extremely happy with the response and I plan to develop my idea further.

I removed the travelling aspect of the dragons den plan and added a few unique selling points one of my favourites is a monthly direct debit that sends you substrates or  food supply before you run out so you never have to worry about that again!

Business planning- Step by step.

pet_shop_600
Example of a standard pet shop. Credit: Alresford
My opinion

I feel I have greatly benefited from this assignment and the workshop, I have gained so much new knowledge and now feel like I actually have potential to make something out of nothing!

The lecturers were very helpful with this assessment and I’m very glad we had the business plan practice through the dragons den workshop as I would have no idea what to do without that experience.

Has this affected my future plans?

Yes! I hope to further develop this year and look more into market research and possible funding options for this.

I’d like to also practice other enterprise/business ideas I have on this canvas model to see if they could work and to expand the possible roots I could take.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s