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plan insurance examples business

valadin
15.09.2018

Content:

  • plan insurance examples business
  • Insurance Company Sample Business Plan
  • A Sample Insurance Company Business Plan Template
  • Acme Insurance insurance company business plan executive summary. Acme Insurance is an ongoing business working as a regional insurance agency and. These free sample business plans will help you get starting writing a Personal Insurance Agent Business Plan Auto Insurance Claims Business Plan. Before you start up your insurance company you will need to put together a business plan similar to this sample.

    plan insurance examples business

    This is an efficient and effective distribution model where the products are purchased private label direct from the manufacturer ensuring the highest quality and low prices. They are then sold direct to the consumer.

    Business Plan Format Guide. The traditional bureaucratic distribution model with huge corporate profits is eliminated. MLM businesses are often confused with pyramid schemes which are illegal in the U. Pyramid schemes are business forms that offer compensation specifically for the recruitment of new sellers. People are promised economic rewards for the more people they recruit, independent of what these people sell. Herein lies the crucial distinction that regulatory authorities analyse when determining if a business is a pyramid scheme: The way compensation is rewarded.

    If it is based on recruitment it is presumed illegal. Earthly Clean only compensates distributors for sales, an effective and efficient sales and distribution system. By carefully using the efficient multi-level marketing business model, Earthly Clean will quickly generate sustainable revenue. Net profit for the same years will reach 4. The company has been founded by Devon McGregor. The company exists to distribute environmentally friendly cleaning supplies through an efficient, networking distribution system.

    Earthly Clean is solely owned by Devon McGregor. In addition to his own investment Devon has received an investment from friends and family as well as a long-term bank loan. When launching a business it is more important than ever to put together an accurate business plan. Earthly Clean sells a wide range of private label environmentally friendly cleaning products. All products are designed to be effective at cleaning, yet easy and non-toxic on the environment. Earthly Clean has contracted with a large national producer of environmentally friendly products to manufacture these products with the Earthly Clean private label.

    The following are the initial products that Earthly Clean will offer. Product Marketability Analysis Score Sheet. As the company grows they will consider adding new items to the product list as demanded by the market:.

    Because Earthly Clean buys private label goods direct from the manufacturer, even after paying out the sales commissions, their products are competitively priced. This is achieved through the private label procurement as well as the more efficient, grassroots system of distribution. Earthly Clean will use a multi-level marketing approach MLM to the sale of these products.

    An MLM approach is a grassroots networking based approach where products are sold direct from an individual distributor to the end consumer. The distributor receives the products from Earthly Clean who buys direct from the manufacturer.

    If person 2 is able to recruit another distributor person 3 then both the original distributor and distributor 2 receive commissions from sales generated by person 3.

    How do I know that my product is market-ready? The MLM system in essence leverages peoples relationships and networking skills. It creates the ability to be your own boss, making sales pitches to friends and associates on your time schedule. It creates a common man, grassroots implementation of a real world distribution channel.

    This arrangement differs significantly from pyramid schemes which are illegal in the United States. A pyramid scheme is a system where individuals sell products and get commissions from the recruitment of new people to also sell the products. The more people they recruit, the more money they make. Pyramid schemes are illegal and are broken up when they are found to exist. The regulatory analysis that is applied to determine if the business is a MLM or a pyramid scheme is as follows:.

    If regulators believe the business is more like 1 it will be found illegal, against public policy, and shut down. As it stands, Earthly Clean is clearly a MLM venture as participants get compensated for the products others sell, not for the specific recruitment of individuals.

    Earthly Clean has identified two distinct type of customers. The first customer type is the end user of the cleaning products. These are people with an environmental consciousness in need of appropriate cleaning supplies. The second customer group is comprised of a select number of people from the first group with an interest in becoming distributors of the cleaning products. The following sections will provide more detailed information regarding these two groups.

    Earthly Clean has identified two groups of customers who are the most attractive marketing prospects. These are people who are looking for products that will reduce their individual impact on the environment. Cleaning products are an excellent product category to concentrate on since they can be particularly abrasive to the environment.

    A distributor is an individual consumer who is interested in also selling the products. In the world of MLM, the sellers are called distributors because they are essentially doing the activities that a distributor would do in a more traditional distribution channel.

    These individuals have a passion for the product and the time to sell the product to their friends. The two enumerated customer segments are particularly attractive because they represent people who are most likely to be consumers of environmentally friendly cleaning supplies.

    The individual consumers have a sensitive perspective toward the environment and are looking for a way that they can have a positive impact on the environment. Recognising that so many traditional cleaning agents are toxic for the environment, it then becomes relatively easy for the individuals to make a positive contribution. The distributors are individual consumers who have an even stronger conviction and belief in the products as well as the time to sell the products and find potential people to recruit into the distribution effort.

    Free Sample Marketing Plan Template. To be a distributor does not require a huge sacrifice of time, the majority of distributors will have full-time jobs in addition to marketing Earthly Clean. This makes the job of distributor all that more attractive, the person is able to balance their already existing job with another source of revenue and personal satisfaction. Earthly Clean arguably participates in two industries, the product industry of environmentally friendly cleaning supplies and the business model industry of MLM.

    The environmentally friendly cleaning supply industry is small but just now beginning to develop momentum. These supplies are typically sold in health food type stores.

    These stores generally sell a smaller variety than what Earthly Clean sells, they have just the basics. As the market demands more outlets for these products it is likely that more retailers will begin to sell environmentally friendly cleaning products.

    Earthly Clean also participates within the multi-level marketing industry. However Earthly Clean does not, per se, compete within this industry. Currently, market research has yet to find an MLM company that sells environmentally friendly cleaning products. The largest and most well known MLM company is Amway which sells a wide range of products. Amway is different from Earthly Clean in the sense that the majority of products that they sell are branded rather than private label products.

    Additional revenue growth should stem from the maturing Castleberry Hill area as a destination shopping district. At the time of opening the Castleberry Hill area will have approximately 1, residents.

    The company is forecasting conservative, yet healthy, revenue projections for Years Two and Three. The company will use sophisticated marketing techniques to secure a core clientele of executive businessmen and corporate accounts, and will differentiate from other traditional retail and on-line florists by offering Frequent Flower Gift Programs with personalized service e. The main selling points for buyers will be twofold: In addition, the well-established Atlanta-based speciality furniture store, No Mas!

    Productions, plans to relocate its main store to the Castleberry Hill area, and create a distinctive destination shopping area for metro Atlanta shoppers. Approximately one-third of the space would be allocated for retail use, and the other two-thirds would be used for workspace and storage.

    At this time, there are no other planned florists in the Castleberry Hill area. Atlanta is served by a large international airport, and access to imported flowers is excellent.

    Hours of operation will be Monday — Friday, and from noon — 4: Hours may be extended during the holidays. Owner Jamie Muir, who has more than 14 years of experience in corporate marketing and has trained as a florist, will create floral arrangements and run the business manage operations, inventories, marketing and sales.

    She will engage the services of a part-time delivery person, and, for certain floral-intensive holidays, may employ temporary staffing. This information will be used with e-mail and direct mail efforts to build custom marketing programs, establish customer loyalty and drive revenue.

    Working capital, cash sufficient to cover build out costs in the second month, and long-term assets such as refrigeration units will make up the majority of the start-up requirements.

    Forget-Me-Not Club. Special occasions account for four out of every ten floral purchases made. A courtesy call will be given or an e-mail sent to each customer hours in advance. The credit card will not be charged until the day of each delivery. Castleberry Hill Residential Program. Other special programs for local residents include:. Unique-buying experience. In-Store Presentations. Topics will be seasonal in nature, and will feature guest artists such as regional cuisine, interior design tips from local designers, books signings, jewelry shows, and local artist showings.

    Gift Cards. Factors that Drive Typical Floral Purchases Holiday purchases traditionally drive the florist industry. The holidays, along with birthdays and anniversaries, are ideal dates for men to select as part of a Frequent Flower Gift Program. Eighty percent of consumers who buy florals for the romantic holiday purchase cut flowers.

    Profile of Traditional Buyers of Floral Arrangements Which households buy fresh cut flowers, how often and how much do they spend? For example, the percentage of U. The frequency of consumer flower purchases is also remaining consistent. The average floral purchase per buying household was 3. Seventy percent of floral buys are planned purchased. A second market includes businesses in Midtown and Downtown Atlanta that need weekly floral arrangements.

    For example, to reach its goal of five commercial clients in , the company needs to secure. To meet its Frequent Flower Gift Program estimates, the company needs to secure. As a result, the florists listed below are considered competition for commercial accounts:. Located in a former Midtown residence, the store carries unusual flowers and orchids. It also carries jewelry, designer handbags and sunglasses, throw pillows and bath towels.

    Fuji Designs. Fuji Designs is a Japanese-style florist, offering silk and fresh flower arrangements, along with Japanese gifts, jewelry, glassware and handbags. Located in the First Union building, Stems serves commercial clients in the building and is also a full-service floral shop. On-line Florists. In addition to traditional florists, floral arrangements can be purchased via the Internet.

    Also, when the floral arrangements arrive, they require arranging, and often the finished product may not match the photo that drove the purchase. In either situation, the quality of the live, perishable flowers is reduced. Or, if examined from another perspective, if the company can capture. Connect with us. Share Tweet. Our Keys to Success and critical factors for the next year are, in order of importance: Develop a profitable property program.

    Provide small businesses with an affordable basic business package. Therefore our goals are: To re-establish Acme Insurance Inc.

    Establish good working relationships with our present insurance markets by meeting with their decision makers and plotting a mutual plan for success. Get commitments for support and products that we can market in our trading area starting April 1st of Year 1. Investigate new markets that meet our marketing criteria by a committing to small rural brokerage; b providing products suitable to our economic and social climate; and c plans for the upload and download of insurance policies.

    Complete inspection of all Pilot homeowners within one month before renewal date. Formulate plans to acquire another brokerage Acme Insurance Inc.

    In order to implement our strategic goals, we will focus on developing the following tools. We must sell the company, not the product. We must improve and increase our contacts with our clients. Make contacts and support senior citizen groups and cottage associations. Investigating new markets that meet our marketing criteria by a committing to small rural brokerage; b providing products suitable to our economic and social climate; and c plans for the upload and download of insurance policies.

    Formulate plans to acquire another brokerage. Services Acme Insurance is committed to providing professional sales and service for its insurance customers. Market Analysis Summary Recent demographic studies in our area reveal a total year-round population of approximately 13,, which rises in the summer to approximately 25, Related Topics: You may like. Executive Education Geared For Industry 4. Click to comment. You must be logged in to post a comment Login Leave a Reply Cancel reply You must be logged in to post a comment.

    Services Businesses Interior Design Business Plan Sample Before you can start your new interior design business you will need a detailed business plan and this sample has the ideal guidelines. Published 11 months ago on May 1, By Entrepreneur. Executive Summary Barton Interiors is a proposed venture that will offer comprehensive interior design services for homes and offices in the Boulder, Colorado area.

    Free Business Plan Template Download Recent market research indicates a specific and growing need in the area for the interior design consulting services and products Barton Interiors offers the market it will serve. Business Plan Examples to Get You Going This interior design business plan outlines the concept and implementation and details regarding the first three years of this venture. Mission Barton Interiors is an interior design service for discerning, quality-conscious clients that seek assistance in their design choices for their primary residences, vacation homes, and businesses.

    Keys to Success The primary keys to success for Barton Interiors will be based on the following factors: Provide the highest quality interior design consulting experience possible. Sell specially selected products to these clients to further meet their interior design needs. Communicate with our client base through the website and personalised communication techniques.

    Retain clients to generate repeat purchases and initiate referrals. Company Summary Barton Interiors is a start-up business that will offer comprehensive interior design services for home and office.

    Products and Services Barton Interiors focuses on providing interior design consulting. Products available through Barton Interiors include: Furniture available through special purchase arrangements with Thomasville, Drexel Heritage, and Henredon and local craftsman.

    Accessory and art pieces available through wholesale shows. Hunter Douglas window treatment products including a variety of hard window coverings. Product and Service Description Our primary points of differentiation offer these qualities: A unique client experience from a trained and professional interior designer that is qualified and capable of meeting the needs of discerning clients with high expectations.

    Access to a wide and unique selection of new and antique furniture, accessories, and special-order decorator fabrics. Personal assistance from a complementary product offering, including hard-covering window treatment, hardware, and home accessories that fit the look and objectives of each project. Competitive Comparison Our competition is primarily from other interior designers. Bed, Bath and Beyond moved into the market in the year at an excellent location.

    Discount stores including Target, Wal-Mart and Home Depot have expanded their fabric, bedding, pillow, and ready-made drapery selections often representing lines including Waverly. Catalog sales continue to be a strong force with a list including Pottery Barn, Calico Corners, Ballard Design, and Eddie Bauer expanding purchasing selection. The list of competitors for home accessory competition includes Pier 1 and local competitors that provide an entire list of other furniture, accessory and gift stores.

    Web sales of furniture, fabric and other interior design-oriented products has expanded dramatically and in many cases is easily available. Sales Literature A simple and professional looking brochure will be available to provide to referral sources, leave at seminars, and on a select basis, use for direct mail purposes. Free Action Plan Template Download 4. Market Analysis Summary Barton Interiors has a defined target market client that will be the basis of building this business.

    How To Create A Marketing Strategy This information will be leveraged to better understand who Barton Interiors will serve, their specific needs, and how to better communicate with them. Market Segmentation The profile of the Barton Interior client consists of the following geographic, demographic, psychographic, and behaviour factors: Geographics The geographic market is the affluent sector within the Boulder, Colorado area with a population of 94, Based on the Census data.

    A mile geographic area is in need of the products and services offered and do not intend to pursue the Denver market at this time. The total target market population is estimated at 24, based on the following demographics.

    Demographics Female, married and have attended college. Have children, but they are not necessarily at home. Age range of 35 to 55 years, with a median age of Boulder Country Club. Junior League of Boulder.

    American Auxiliary of University Women. Psychographics The appearance of her home is a priority. Entertaining and showing her home is important. She perceives herself as creative, tasteful and able, but seeks validation and support regarding her decorating ideas and choices. She reads one or more of the following magazines: Martha Stewart Living. Country Living. House Beautiful. Country Home. Metropolitan Home. Traditional Homes. Elle Decor.

    Comparison positioning and stature within social groups are made on an ongoing basis, but rarely discussed. Free Payslip And Contract Of Employment Template Download Download your free payslip and contract of employment here to get you started in the right direction. Target Market Segment Strategy Our marketing strategy will create awareness, interest, and appeal from our target market for what Barton Interiors offers its clients.

    Target Market Worksheet Boomers in Transition — This group, typically ranging in age from 50 to 65, is going through a positive and planned life transition. Conducting a Business Plan Market Analysis The industry is expected to realize a steady increase over the next few years.

    Download a Free Marketing Plan Template This is more expensive then the do-it-yourself approach, but less costly than buying finished products from other sources. National economic health: Sales decrease when the stock market falls and when NATO takes military action. An upbeat State of the Union address by the President correlates with an increase in sales.

    New home construction activity: More closely related to what is taking place in our local economy, new home construction has a significant impact on sales across all product lines. Shifts in design trends: Major changes in design trends increase sales. The Boulder market lags behind metropolitan design trends by six to 12 months. This offers a buying advantage for the store, offering a preview of what is coming and how we should adjust our in-stock inventory. Market Growth American Demographics projects the number of U.

    Market Needs Barton Interiors will provide its clients the opportunity to create a home environment to express who they are. SWOT Analysis Examples They desire their home to be personal, unique, and tasteful as well as communicate a message about what is important to them.

    Potential Competitors: There are many other interior designers in the Boulder area and these competitors range from those that provide simple-focused services, such as draperies only, to a more full-service interior design approach similar to Barton Interiors. Power of Suppliers: Moderately high in most anyone that has a business licence can have access to wholesale purchase of furniture, fabrics and accessories.

    Power of Buyers: Very low as buyers work within the financial terms and product availability offered through the suppliers that specify the terms and conditions. Search the Library Know what you are looking for? Use our keyword search to locate the resource you need. Search Input Search Button. Start-up Business Planning. Business Plan Examples. Good luck and happy writing! Tags business plan , business plan how-to , business plan template , creating a business plan , launching a business , retail , starting my business plan , writing a business plan.

    Tactics Engage with online services such as Yelp. Com and MerchantCircle. Com — for candid and honest reviews of the products and services provided. Programs Actively engage with clients by requesting completion of surveys both online and over the desk. Attend customer service training classes. Sponsor a local school sport - such as a soccer team.

    Programs Develop reciprocal relationship with complementary vendors; for example partner with the local motorcycle agent and offer free motorcycle safety seminars and offer complementary life insurance evaluations. Unlike its competitors, Convenient Insurance will strive to be the low pressure, insurance agency of choice. While it is no secret that insurance agencies make their living off commissions, the owners of Convenient Insurance have adopted their personal views and believe that honesty is the best policy.

    This higher level of evaluation is unheard of and the owners of Convenient Insurance are honored to be able to provide what they believe is an invaluable service. Convenient Insurance stands head and shoulders above its competitors with its broad product and service offering, need-based selling requirements, high tech interfaces and professionalism and integrity.

    Convenient Insurance will utilize a product differentiation strategy. Through this type of strategy Convenient Insurance will focus its efforts on holding itself apart from its peers through its broad selection of products and services delivered professionally by Certified Financial Analysts.

    The agents will only sell services that are needs based. This will eliminate wasteful and expensive insurance products and the customer can feel comfortable knowing that his choice to purchase insurance was well worth it. Convenient Insurance is a full service, independent insurance agency, providing a broad selection of products and services, specifically tailored to the individual needs.

    All services are based on the individual clients needs and delivered by Certified Financial Planners — all in a low pressure, professional, confidential environment. Convenient Insurance will rely on a marketing blitz to get the word out. The owners are members of the local chamber of commerce and will be hosting a grand opening chamber event. Other promotion strategies include:.

    The website will have the Convenient Insurance address and business hours as well as links to Trusted Choice carriers, daily blogs, and social media including Facebook personal lines and LinkedIn business lines. Customer will have the ability to view their policies, submit questions, and make payments. The local campaign Chamber of Commerce grand opening and the online blitz it is expected that Convenient Insurance website will be linked to the top 40 search engines will be the ideal way to start off the campaign.

    In the local community, Convenient Insurance will host semi-annual sponsored events — such as the VIN etching days and safety seat inspections. In addition their commitment to the community will be evidenced by their corporate sponsorship of a local school sports team. These goals will be met by increases in volume. Additionally volumes are expected to increase with the additions of staff. The three year hurdle is the minimum requirement prior to being considered for direct appointment.

    The window will establish a payment and credit history as well. The online business, while appealing, is secondary to the brick and mortar business; the business plan takes a more conservative approach and those incomes have been excluded from the analysis.

    After the initial 3 years of operations, Convenient Insurance will re-visit this opportunity and possibly include this line item in their financial goals and planning. The financial analysis takes a conservative approach to revenues and assumes revenue and income streams will be derived from 3 primary resources:.

    This rational is used for two reasons: As insurance agents, the staff at Convenient Insurance works on commissions. Following are approximate commission amounts for each of the different insurance products:. The entity is wholly owned by its owners Greg and Maria Bell. Convenient Insurance is registered business with the county and the state. Initial debt recourse will first be to Greg and Maria Bell as personal guarantors, the secondary source will be recourse to collateral and tertiary recourse will be the sale and disposal of assets.

    In the event the company is to be dissolved, all assets will be liquidated. At the heart of Convenient Insurance are its people. Initially both Greg and Maria will co-manage the agency.

    Both will actively target the market for new business as well. In Year 1, Convenient Insurance plans to hire a part time bookkeeper to help with the monthly, quarterly and annual filings to their accountant.

    In Year 2, Convenient Insurance has plans to hire their first agent. The agent will be a CFP candidate as well. Convenient Insurance is committed to its employees and will provide continuing education requirements for the certification.

    In Year 3, Convenient Insurance has plans to hire a full time administrative position. As revenues, grow, staff needs will increase as well. Convenient Insurance will be wholly owned and operated by the husband and wife team of Greg and Maria Bell. Convenient Insurance does not have an Accounting Department at this time.

    For now, the company will utilize a part-time bookkeeper and rely on their long term relationship with a reputable local CPA in the preparation of annual tax returns. Income Assumptions The financial analysis takes a conservative approach to revenues and assumes revenue and income streams will be derived from 3 primary resources:.

    Balance Sheet Assumptions Convenient Insurance anticipates having sufficient liquidity, have reasonable debt, and a solid equity position. The owners will use these funds to help seed or start the new business.

    Insurance Company Sample Business Plan

    Insurance Agency Business Plan. This sample Insurance Agency Business Plan is free for you to download and use as a basis for developing your own specific. Are you about starting an insurance company? If YES, here is a complete sample insurance company business plan template & feasibility report to use for FREE. Are you about starting an insurance agency? If YES, here is a complete sample insurance agency business plan template & feasibility study you can use for FREE.

    A Sample Insurance Company Business Plan Template



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