How To Write a Business Plan For An Australian Drop Shipping Store

How To Write A Business Plan For An Australian Drop Shipping Store

In this post I am going to cover the important steps that you need to take in order to write a business plan for an Australian drop shipping business, starting with understanding what it means.

A business plan is not something that people should embark on lightly or without some knowledge of the process. And while you might think that writing a startup business plan is all about images and words, there are plenty of other things involved; it's always good to be aware of these before jumping in.

A business plan is the foundation for all your business decisions and needs to be written before you launch a new business. Writing a business plan is time-consuming and demanding, but it’s one of those things that can make or break your start-up.

What is a business plan?

A business plan is a blueprint for your new venture. It’s the document that outlines the basics of your business, including your vision, mission statement, goals and objectives. What should a business plan contain?

1. Introduction

In this section, you introduce your business and explain how you arrived at the idea of starting a business. You should also include a list of your skills, qualifications and achievements along with a description of the market that you intend to service.

2. Mission Statement

Your mission statement will help you to focus on your business goals and it should include the purpose of the business and what you hope to accomplish. Furthermore, your mission statement may help you to assess the future direction of the company. For example, if you decide that you want your company to be more profitable, then you should include this in your mission statement.

3. Market Research

In this section, you gather data about your business market and its other competitors. It’s not just a list of numbers – there should be a story behind each number. Market research will help you understand the value of your business and the risks involved in operating it.

4. Products, Services, Production Process

This is the heart of your business plan. Here you describe what you will sell to your customers, how much it will cost to produce and how much it will sell for. Explain why your product is better than the competition and how it will appeal to potential customers. It’s also important that you outline the experience of the people in your business who are responsible for creating, marketing and selling your products or services.

5. Customer base, Competition

This section explains what types of customers you are likely to attract and the markets that they will come from. You should also discuss how your competition is operating their businesses and what they are doing to differentiate themselves from you.

6. Costs

You must estimate the costs of running your business before you begin to make profit. Think about everything that goes into running a business, like Shopify fees (get a 14 day free trial here), advertising budget, credit cards, office supplies and related software costs.

7. Marketing Plan

Your plan should include a description of the marketing strategies that you will use to promote your business. You should focus on building brand awareness and customer satisfaction to ensure that your business reaches its full potential.

8. Financial Projections and Budget

The aim of your financial projections is to show how much money you need to get started and how much profit you expect your business to make after the first year of operation. You should also include financial resources that you can access if your business is not profitable.

9. Conclusion

In the conclusion section, you summarize your business plan and remind readers what they can expect from your new business venture. Then, you describe the most likely challenges and how you will deal with them. These challenges may include marketing to a new audience or acquiring new skills and resources that your business needs to expand over time.

So there is a brief overview of what you should include in your business plan, I'll add that there are many templates that can be found online you can use to help guide you as well.

Hope you found this information useful and if you would like to find out more about drop shipping in Australia feel free to check out our FREE Aussie dropship training here.