Simple Business Plan

April 30, 2021

Clark Monje M. Sanchez

Sir Clark's Hardware Store & Supply, Store Owner
Pacol, Naga City
09137404401 [email protected]
https://clarkmonjesanchez.wixsite.com/website

Page 1 of 6
 TableofContents
Executive Summary........................................................... 3
Products and Services....................................................... 3
Vision and Mission Statement............................................ 4

Business Structure............................................................. 4
SWOT Analysis.................................................................. 4
Market Analysis/ Market Trends......................................... 5
Target Market..................................................................... 5
SALES AND MARKETING STRATEGY............................. 6
Generating Funds/ Startup Capital..................................... 6

Page 2 of 6
EXECUTIVESUMMARY
Sir Clark's Hardware Store & Supply will be a sole proprietorship owned by Clark
Monje M. Sanchez. It is a new business which is going to establish a retail hardware store in
Pacol, Naga City. The store will sell hardware and construction supply of all kinds, quality
tools, materials, housewares et al. The business will make revenue and a profit by servicing
its customers not only with needed hardware but also with expert advice in the use of any
product it sells.

We are aware that there are several hardware and construction supply stores all
around Naga City, which is why we spent time and resources to conduct a thorough feasibility
studies and market survey so as to be well positioned to favorably compete with all our
competitors.

Sir Clark's Hardware Store & Supply will ensure that all our customers are given first
class treatment whenever they visit our building material store. We have a Customer
Relationship Management (CRM) software that will enable us manage a one on one
relationship with our customers no matter how large they are. We will ensure that we get our
customers involved in the selection of brands that will be on our store and also when making
some business decisions.

Sir Clark's Hardware Store & Supply will at all times demonstrate his commitment to
sustainability, both individually and as a firm, by actively participating in our communities and
integrating sustainable business practices wherever possible. We will ensure that we hold
ourselves accountable to the highest standards by meeting our customers’ needs precisely
and completely whenever they patronize our products.

PRODUCTS AND SERVICES

Sir Clark's Hardware Store & Supply is in the hardware and construction supply stores
industry to service a wide range of clients and of course to make profits, which is why we will
goal the way to make available a wide range of hardware and other related products.

Our product offerings are listed below;

Retailing hardware Retailing electrical supplies

Retailing tools and equipment Retailing paint and supplies

Retailing plumbing fixtures and fittings Retailing garden products and equipment

Page 3 of 6
VISION AND MISSION STATEMENT
Our vision is to become one of the leading brands in the hardware stores industry in
Naga City as well as in Bicol Region.

Our mission is to create a hardware store that is reliable and convenient. A store that
offers great service and good quality hardware and construction materials in a customer-
friendly environment. Our store will also focus on anticipating the seasonal need so four
customers and providing the best products at competitive prices. Our customers will become
loyal because of the great advice, prompt service, good staff attitudes, the overall quality of
the shopping experience, and the fact that we consistently have solutions for their needs.

BUSINESS STRUCTURE
Our intention to start a hardware and construction supply business is to build a
standard retail store in Naga City. Although our hardware business may not be as large as
other hardware corporations, we will make sure we can put the right structures in place that
will support the kind of growth we have in mind while setting up the business. We will also
ensure that we hire people that are qualified, honest, customer centric and are ready to work
to help us build a prosperous business that will benefit all the stakeholders.

SWOT ANALYSIS
Our intention of starting just one outlet of our hardware retail store in Naga City is to
test run the business for a period of 2 to 4 years to know if we will invest more money, expand
the business and then open other outlets all over Naga City and Bicol Region.

We are quite aware that there are several hardware retail stores all over Bicol Region
and even in Naga City which is why we are following the due process of establishing a
business. We know that if a proper SWOT analysis is conducted for our business, we will be
able to position our business to maximize our strength, leverage on the opportunities that will
be available to us, mitigate our risks and be equipped to confront our threats.
This is the summary of the SWOT analysis that was conducted for Sir Clark's Hardware Store
& Supply:

Strength:

Ability to control stock on hand, good qualities and wide range of hardware and other
related products from different manufacturing brand and our excellent customer
service culture are some of our strength.

Page 4 of 6
 Weakness:

A major weakness that may count against us is the fact that we are a new hardware
retail store in Naga City and we don’t have the financial capacity to compete with big
hardware retail stores and companies.

Opportunities:

The fact that we are going to be operating our hardware retail store in urban area it
will provides us with unlimited opportunities to sell our hardware and other related
products to a large number of individuals.

Threat:

Just like any other business, one of the major threats that we are likely going to face
is economic downturn. Another threat that may likely confront us is the arrival of a new
hardware store in same location where ours is located.

MARKET ANALYSIS/ MARKET TRENDS

Recent trends in the hardware industry show that external competition has slightly
weakened both industry revenue and revenue growth. Hardware stores have shifted
business models to face intensified external competition and they will continue to be
pressured by online retailers and larger home improvement stores. Experts expect that in
2017, the hardware stores industry is expected to profit from the growing economic conditions
around the world.

The hardware retail landscape has seen tremendous change in the last 20 years; it
grew from smaller outlets to a more organized and extensive adventure. The introduction of
the franchise and online store makes it easy for a hardware retailer to reach a larger market
beyond the areas where his physical store is located.

TARGET MARKET
Those who patronize hardware stores cut across all genders above18 years with the
financial means, and who own an apartment or office/ business hence the target market for
the hardware store business is all encompassing. In essence, your target market can’t be
restricted to just a group of people but all those whore side in and around our store location.

In view of that, we have positioned our hardware retail store to serve the residents of
Pacol, Naga City and every other location where our retail hardware stores are located.

Page 5 of 6
SALES AND MARKETING STRATEGY
Sir Clark's Hardware Store & Supply will adopt the following sales and marketing approach
to win customers over.

•Open our store with some events for all.

•Introduce our hardware store by sending introductory letters alongside our brochure to
residents, businesses and other key stakeholders in Naga City.

•Ensure that we have a wide range of hardware and other related products from different
brands at all times.

•Make use of attractive signage to create awareness and also to give direction to our store.

•Position our signage/ flexi banners at strategic places around Naga City.

•Position our greeters’ towel come and direct potential customers.

•Create a loyalty plan that will enable us reward our regular customers.

•Leverage on the internet and social media platforms like Instagram, Facebook, Twitter,
Google+ and other platforms to promote our business.

•Brand all our official cars and trucks and ensure that all our staff members and management
staff wears our branded shirt or cap at regular intervals.

GENERATING FUNDS/ STARTUP CAPITAL

Sir Clark's Hardware Store & Supply is a private registered business that is solely owned and
financed by Clark Monje M. Sanchez and his immediate family members. They do not intend
to welcome any external business partner which is why he has decided to restrict the sourcing
of the startup capital to 3 major sources.

These are the areas we intend generating our startup capital;

•Generate part of the startup capital from personal savings

•Source for soft loans from family members and friends

•Apply for loan from the bank

At this day and age, we need an estimate of ₱300,000 to successfully setup a standard
hardware retail store in Naga City.

Page 6 of 6