Biyernes, Agosto 28, 2020

How to prepare a professional business plan to make you stand out in the New Normal

“Without a clearly defined goal, success is impossible… Success is finding a need and then filling it. One cannot command success. You have to work hard to deserve it. So never give up to achieve your dream.” ~Mr. Leo De Leon, Allegro Beverage Corporation founder, and CEO

    Allegro Beverages

    Purpose is an ongoing pursuit of a goal
    • Without a clearly defined goal, success is impossible.
    • Success is finding a need and then filling it.
    • One cannot command success, you have to work hard to deserve it.
    • If there is a will, there is a way
    • Never, never, never give up to achieve your dream.
    At the very first AFEX webinar, Allegro Beverage Corporation founder and CEO Mr. Leo De Leon shared his decades of expertise in the coffee industry by teaching us how to set up our very own profitable coffee shop in the midst of a global pandemic.

    Allegro Beverages
    Allegro Beverages
    Mr. De Leon helped aspiring entrepreneurs how to prepare a professional-level business plan to make any brand and business stand out in this age of the “New Normal”.

    • Know Your Business’ Purpose
    Before creating a business plan, Mr. De Leon suggests entrepreneurial introspection to find out what is at the very heart of your business. By finding out the purpose of your endeavor, you will know how to begin the pursuit of your goals.

    Allegro Beverages
    Allegro Beverages

    • Create a Business Identity
    Another important part of preparing for a business plan – or any business, for that matter – is to come up with a unique and catchy business name and a memorable logo. Both are not just important but imperative components of any enterprise because it will define the identity of your business. Therefore, both the name and the logo must reflect the brand in a positive light. 

    Once both components are finalized, make sure to register your business with the Securities and Exchange Commission (SEC) and the Department of Trade & Industry (DTI).

    After the concept of the business has been laid out through its purpose and identity, it’s time to share your ideas with prospective investors through a business plan. This means the future of your business hinges greatly on how well you can communicate your goals and strategies to encourage possible investors to give you their money and most importantly their trust, especially during a global pandemic and economic backlash. 

    Allegro Beverages
    Allegro Beverages

    • Mission & Vision Statements
    According to Mr. De Leon, after a clear but concise description of the concept (your brand, your purpose, your driving force), a good business plan must have an appropriate mission and vision statements. He differentiates the two easily:


      Allegro Beverages
      A vision statement focuses on tomorrow and what an organization wants to ultimately become.

      A mission statement focuses on today and what an organization does to achieve it.

      As an industry leader, Mr. De Leon also gave examples of good mission and vision statements, like the following:

      Allegro Beverages
      Allegro Beverages

      • Overview and Strategy
      Now is the time to impress your panel with how much research you’ve poured into your business plan.

      The overview of the entire business must include the following aspects:
      1. Product Offerings – Menu items or list of services offered with rates
      2. Store Location – Take note of the foot traffic in the prospective location
      3. Merchandising and Marketing – Suppliers, Inventory, and Publicity
      4. Architectural Design – A combination of aesthetics and efficiency
      5. Management Team / Human Resources – Qualifications, experience, clear roles and expectations of staff
      6. Store Details – Like food specifications and store operating hours

      Allegro Beverages

      • Market Analysis
      It is important to find your business’ niche in the market. Now that everyone is sheltering at home and ordering online, digital markets are prevalent. Every business owner opening a start-up in this kind of economic climate must determine industry trends to find out how to better position their products and services. This is where the SWOT Analysis comes in, a common tool used by managers to determine both the internal and external influences of business. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.

      To find out your business’ SWOT, try answering the following questions:

      STRENGTHS
      • What are you and your company good at?
      • What unique resources and skills do you possess?
      • What do others and your competitors see as your strengths?
      WEAKNESSES
      • What can you and your company improve on?
      • Where do you have fewer resources than others? Limitations?
      • What do others and your competitors see as your weaknesses?
      OPPORTUNITIES
      • What opportunities are open to you and your company?
      • What trends can you take advantage of, given the Covid-19 pandemic?
      • How can you and your company turn your strengths into opportunities?
      THREATS
      • What threats could harm you? Internal and External.
      • What is your competition doing?
      • What threats do your weaknesses expose to you?
      Allegro Beverages

      • Financial Projection
      According to Mr. Jamile Merlan (Accounting & Finance Manager of Allegro Beverage Corporation and Group Finance Head of UCC Ueshima Coffee Philippines Inc.), a financial projection is “an estimate of the company’s profitability and financial condition. It is important because this will tell you if the business is feasible.” A business’ financial projection can be used to attract investors as well as a tool in applying for business loans.

      During his part of the webinar, Mr. Merlan shared the characteristics of a good financial projection. It must be:
      1. Realistic – Estimates must be supported by valid assumptions
      2. Flexible – Do not stick to just one assumption; prepare contingency projections for various situations or conditions
      3. Comparable – First, it must be comparable to the industry standard, then compare your projections with actual results
      4. Cover multiple periods – do not just show projections for one month or one year; recommended to show at least three years’ worth of projections

      Allegro Beverages
      Allegro Beverages
      Allegro Beverages
      Year 1 - Monthly Projections
      Year 2 - Quarterly Projections
      Year 3 onwards - Annual Projections

      Mr. Merlan also listed the components of a good financial projection:
      1. Projected Income Statement – Must show sales and operating costs
      2. Projected Capital Requirements – How much initial and working capital do you need?
      3. Projected Cash Flows Statement – Must show the cash inflow, outflow, and running balance for both items
      4. Projected Balance Sheet – Shows the assets, liabilities, and quality of the business; it is used to determine the financial condition of the business.
      5. Break-even Point Analysis – The level of sales at which total revenues equal total expenses (no profit, no loss); monitored on a regular basis to check if the business is on the right track to hit its goals

      • Location, Location, Location
      According to Mr. De Leon, he observed that before the pandemic hit, shopping malls were the top locations for businesses, where it could reach up to 500,000 to 750,000 shoppers in one day during peak season (like the holidays). But today – more than five months into the longest lockdown/quarantine in the world since COVID-19 hit – the number one business location are high-rise residential areas or condominium buildings. He listed down the top 10 locations aspiring entrepreneurs can consider when scouting for the best spot. 

      Allegro Beverages

      Now that you know the best locations to establish your business, here are some tips in securing the ideal spot.

      Allegro Beverages
      Allegro Beverages
      When it comes to leasing a property, there are several considerations the new business owner must take into account carefully. Mr. De Leon suggests consulting a lawyer to study the lease contract to make sure the agreement is amenable for both the tenant and the landlord.

      Below are some considerations when leasing:
      1. Length of Lease
      2. Rental Rates – Minimum rent, escalations, percentage of sales
      3. Security Deposits and Advance Rents
      4. Renewal Option
      5. Hours of Operations – Including weekends and holidays
      6. Menu Restrictions
      7. Location – Access to entrance, escalators, movie house, ground floor, frontage, etc.
      8. Cost of Leasehold Improvements
      9. No Rent Payment During Construction Phase
      10. Construction Restrictions
      11. Electrical and Plumbing Requirements
      12. Triple Net Charges – Maintenance, Insurance, Taxes
      13. Marketing Programs and Costs
      14. Discounts
      15. Insurance Requirements
      16. Audits
      17. Exclusivity
      18. Exhaust Systems
      19. Garbage Collection
      20. Delivery Access and Schedule
      21. Construction and Expansion Plans
      22. Fire Department and Health Department Codes

      Allegro Beverages
      Allegro Beverages

      For more information on Allegro Beverage Corp.’s products and services, you may contact them directly at sales@allegrobeverage.com 


      Allegro Beverages
      Allegro Beverages


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