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Shopping Mall Business Plan

Published Mar.17, 2023

Updated Sep.14, 2024

By: Cynthia Turner

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Table of Content

1. Shopping Mall Business Plan Sample and Template

This business plan for building a shopping mall can be a great resource for entrepreneurs looking to start their own shopping mall.

It provides an overview of the mall’s structure, operations, and financials to help them understand the market and make well-informed decisions.

Lastly, it includes a marketing strategy that outlines how to start a shopping mall and how it will differentiate itself from the competition, which can be used for various business plans like Supermarket Business Plan .

2. Executive Summary

Business overview.

The Arcade Shopping Mall is a one-stop shopping destination for quality products and services. It will offer its customers various products and services, from clothing, electronics, and health and beauty to entertainment and leisure activities. The small shopping mall business plan will also feature a large food court, a play area for children, and a variety of specialty shops.

The mall will provide a safe, pleasant shopping experience for its customers and will strive to create a sense of community within the mall. The mall will be conveniently located in a densely populated area, making it easily accessible to customers.

We plan to use the latest technology to create an enjoyable, stress-free shopping experience. Our mall will feature a variety of high-end stores, restaurants, and entertainment options, including a movie theater, bowling alley, and arcade. We plan to use innovative marketing strategies, such as social media campaigns and targeted advertising, to reach our target customers.

Our Wholesaling Business Plan offers a wide variety of products for customers. We offer a selection of luxury and everyday items, including

• Clothing and Apparel: T-shirts, jeans, dresses, jackets, activewear, sweaters, and accessories.
• Footwear: Athletic shoes, sandals, boots, and dress shoes.
• Electronics: Phone accessories, tablets, laptops, headphones, and speakers.
• Home Goods: Furniture, bedding, kitchenware, and home décor.
• Beauty Products: Makeup, skincare, hair care, and fragrances.
• Jewelry: Watches, necklaces, rings, and earrings.
• Toys: Action figures, dolls, and educational toys.
• Sporting Goods: Exercise equipment, team sports gear, and outdoor recreation gear.
• Books and Movies: Books, DVDs, and video games.

Customer Focus

Same as our Sandwich Shop Business Plan , we will ensure that our customers are always our top priority. We will provide excellent customer service in all aspects of our business. We will ensure that our customers always have access to the products and services they need. We will strive to create an enjoyable shopping experience for our customers. We will also use customer feedback to continuously improve our services and products.

Management Team

Our management team will consist of experienced professionals from various backgrounds. We will have a team of experienced managers and supervisors who will be responsible for overseeing the day-to-day operations of the shopping mall. Compared to our Food Truck Business Plan , we will also have a team of experienced marketing and sales professionals responsible for driving customer traffic and sales.

Success Factors

Our success will depend on several factors, including our ability to provide excellent customer service, our ability to source high-quality products and services, and our ability to market our products and services effectively. We will also need to be able to manage our operations and finances effectively. Additionally, we will need to be able to develop and maintain relationships with our suppliers and vendors.

Financial Highlights

Our financial highlights include revenue projections, capital and investment requirements, and estimated profits. In the business plan shopping mall project, we will generate revenue from selling products and services and tenant rent payments. We will also have initial capital and investment requirements to construct the shopping mall and purchase equipment and supplies. Our expected profits will depend on the success of our operations and our ability to generate customer traffic.

• Revenue growth of 8.5% year over year
• Operating profit of $5.0 million in Year 1
• Positive cash flow from operations of $2.5 million in Year 1
• Total capitalization of $20 million
• Debt-to-equity ratio of 1.0:1
• Return on equity of 15% in Year 1
• Payback period of 5 years

3. Company Overview

Who is arcade shopping mall.

Arcade Shopping Mall is a modern shopping complex located in the heart of a major metropolitan area. The mall offers a wide variety of goods and services and has grown to become a destination for shoppers from all over the region. The mall is owned and operated by a private developer who has invested significant capital into the mall to keep it competitive and up-to-date.

Arcade Shopping Mall History

Arcade Shopping Mall was opened in the year 2020 and since then has quickly become a popular shopping venue. It is conveniently located near public transportation and other nearby amenities. The mall business proposal offers a wide selection of department stores, specialty shops, and an array of dining and entertainment options. The mall also features an indoor play area for children and a movie theater.

The mall has a management team that is dedicated to providing excellent customer service and creating a safe and comfortable shopping environment. The team works hard to ensure that the mall is clean and well-maintained and that customers have an enjoyable shopping experience. The mall also works to keep up with the latest trends and to stay ahead of the competition.

The mall has grown steadily since its opening, and the management team is always looking for ways to improve the mall and make it more appealing to potential customers. The mall is committed to providing an enjoyable shopping experience for all who visit.

The key elements of the business concept of Arcade Shopping Mall are:

• Convenience: Arcade Shopping Mall provides customers with a convenient and easy-to-use shopping experience that can be accessed from any device.
• Rewards: We offer a variety of rewards programs that allow customers to earn rewards points for their purchases and redeem them for discounts.
• Variety: Our selection of products ranges from the world’s leading brands to unique and hard-to-find items.
• Quality: We are committed to providing customers with the highest quality products and customer service.
• Engagement: Our interactive shopping experience encourages customers to engage with our products and services.

4. Industry Analysis

The shopping mall industry has grown tremendously over the past several years, with the number of shopping malls in the United States nearly doubling since the 1980s. Shopping malls have become a staple of American consumer culture, providing various goods and services in one convenient location.

The global shopping mall industry is estimated to be worth $1.4 trillion in 2018, with the U.S. contributing the largest share of that figure. This growth is projected to continue, with the global market expected to reach $2.7 trillion by 2025. The growth is driven by several factors, including changing consumer preferences, technological advances, and an expanding global middle class.

The shopping mall industry is highly competitive and fragmented, with major players such as Simon Property Group, Westfield Corporation, and Brookfield Property Partners controlling a large market share. These companies operate large, regional shopping malls that are often the destination of choice for consumers.

Despite the competition, there is still room for smaller, locally-owned shopping malls to succeed. These malls can focus on providing a unique experience that appeals to local shoppers and differentiates them from larger national players. In addition, these malls can focus on providing services and amenities that larger malls may not have, such as specialty stores, local restaurants, and entertainment options.

Overall, the shopping mall industry is expected to remain a lucrative market for the foreseeable future. With the right approach, locally-owned malls can still achieve success in this crowded and competitive space.

5. Customer Analysis

Demographic profile of target market.

The target market for a shopping mall should be identified based on the location, the types of goods and services offered, and the demographic makeup of the local community. The demographic profile of the U.S. target market is highly diverse and includes a mix of gender, race, ethnicity, income level, and age. The U.S. population is estimated to be 329,064,917, with an estimated median age of 37.9 years. The population is 68.6% non-Hispanic White, 13.4% Hispanic, 13.3% African American, 5.9% Asian, and 4.3% of other races or multiple races. The average household income is estimated at $59,039, and the median is $50,895.

Customer Segmentation

Shopping malls should segment their customers based on their purchasing behaviors. For the shopping mall business plan, customer segmentation can be based on age, gender, income level, and geographic location. The segmentation can be further divided into sub-segments such as age (under 18, 18-25, 25-45, 45-65, and 65+), gender (male and female), income level (low, medium, and high), and geographic location (city, suburban, and rural). By segmenting the customers, the business can better understand the needs of each segment and develop marketing strategies to target specific segments.

6. Competitive Analysis

In developing a shopping center business plan, the shopping mall industry is highly competitive and there are a number of established players in the market. In order to succeed, our shopping mall business plan must consider the market competition and identify ways to differentiate our product offering and create a competitive advantage.

Direct and Indirect Competitors

Direct Competitors

The direct competitors of our shopping mall business plan include national and international shopping malls, department stores, specialty stores, and online retail outlets. We must consider the services, prices, location, and convenience factors that these competitors offer in order to compete effectively.

Indirect Competitors

Indirect competitors include other entertainment venues, such as movie theaters, amusement parks, and other leisure activities. We must consider how our shopping mall will provide unique experiences and services that will draw customers away from these competitors.

Competitive Advantage

It is important to identify the unique features and benefits the shopping mall offers to make it stand out from its competitors. Competitive advantages include low prices, convenient location, extensive product selection, and excellent customer service.

Our competitive advantage lies in our ability to offer a unique shopping experience. We will focus on creating an inviting atmosphere with high-quality customer service and an extensive selection of products and services. We will also focus on providing exclusive deals, discounts, and innovative shopping experiences, such as virtual reality tours and interactive displays.

7. Marketing Plan

The marketing plan for the shopping mall business model will focus on five key aspects:

• Target market identification: The target market for this shopping mall business is consumers who are looking for a convenient, wide selection of products at competitive prices. The target market will consist of individuals with various income levels and spending habits.
• Branding and positioning: The shopping mall will be positioned as a premier shopping destination offering an extensive selection of products at competitive prices. The brand will be associated with quality and value.
• Marketing mix: The marketing mix for this shopping mall business will include traditional advertising, direct mail, online marketing, and public relations. The focus will be on reaching the target market and communicating the message of value and quality.
• Professional website: The shopping mall will have a professional website with an e-commerce platform for online shopping. The website will feature information about the mall, including store listings, events, promotions, and more. The website will be optimized for search engines and will include social media links.
• Promotions strategy: The promotions strategy for this shopping mall business will include discounts, coupons, loyalty programs, and special events. The promotions will drive traffic to the mall and increase sales. These promotions and discounts could include special offers on particular days, “buy one get one free” offers and more.

The direct competitors for this shopping mall business are other shopping malls in the area. These competitors include large retail stores, department stores, and other shopping centers. The indirect competitors are online retailers and other e-commerce sites.

Promotions Strategy

We plan to offer a variety of promotions to attract customers to our shopping mall. As the owner knows how to open a mall, he suggested, we will offer discounts and special offers on a regular basis to encourage customers to purchase products and services. We will also host events and activities, such as fashion shows, product launches, and special offers.

We plan to partner with local businesses and organizations to offer exclusive discounts and promotions to our customers. We will also employ loyalty programs to encourage repeat customers.

Our pricing strategy will be based on offering quality products and services at competitive prices. We will offer high-end products and services at premium prices and budget-friendly products and services at more affordable prices. We will also offer discounts and special offers on a regular basis to attract customers.

We plan to offer various payment options to make our products and services more accessible to our customers. We will accept cash, debit, and credit cards, as well as e-wallet payments.

8. Operations Plan

Operation functions.

Security: The mall must ensure that customer safety is a top priority. This will include having a security team on-site to monitor activity and respond to emergencies.

Maintenance: The mall will need a team to keep the building and grounds in good condition. This will include regular cleaning, repairs, and upkeep of the facility.

Customer Service: The mall must provide customers with an enjoyable shopping experience. This will include providing friendly, helpful service and responding to customer inquiries and complaints.

Marketing: The mall must have a marketing plan to promote the mall and attract customers. This will include advertising, public relations, social media, and other promotional activities.

Management: The mall will need to have a management team in place to oversee the day-to-day operations of the mall. This will include setting goals, creating policies, and ensuring the mall operates efficiently and profitably.

4/15/202X – Obtain Funding

4/22/202X – Develop Business Plan & Hire Professional Team

5/1/202X – Lease Property & Secure Necessary Permits

5/8/202X – Begin Construction

5/15/202X – Hire & Train Staff

5/22/202X – Finalize Construction & Buy Necessary Fixtures & Equipment

6/1/202X – Launch Marketing Campaign

6/8/202X – Open for Business

6/15/202X – Monitor & Evaluate Performance

9. Management Team

The management team of the shopping mall will include a team of highly-skilled professionals who will be responsible for the day-to-day operations of the mall.

Company Staff

The Company Staff consists of experienced professionals who are dedicated to providing superior customer service. The staff is responsible for ensuring that the mall is safe, clean, and enjoyable for customers.

• VP of Retail
• VP of Real Estate
• Store Managers
• Sales Associates
• Support Staff
• Maintenance Staff
• Security Staff

10. Financial Plan

The financial plan for this shopping mall project is based on an initial investment of $10 million. This investment will be used to renovate the mall, purchase new inventory, and hire personnel to manage the mall. The investments will be made in the following areas:

• Renovation: $3 million
• Inventory: $2 million
• Personnel: $2 million
• Advertising/Marketing: $1 million
• Legal Fees: $500,000
• Miscellaneous: $1.5 million

The total cost of the project is estimated to be $10 million.

Key Revenue & Costs

The primary sources of revenue for the mall will come from rent from tenants, sales from tenants, and from other sources, such as parking fees and food court revenue. The mall is estimated to generate approximately $15 million in total annual revenue.

The primary costs for the mall will include rent for the space, personnel costs, and advertising/marketing costs. The mall is estimated to incur total annual costs of approximately $10 million.

Funding Requirements and Use of Funds

The total project cost is estimated at $10 million. To finance the project, the mall will need to secure loans and/or equity investments. It is estimated that approximately $7 million in financing will need to be secured to cover the project’s cost.

The funds will be used as follows:

Key Assumptions

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To successfully launch and operate the mall, the following assumptions will need to be made:

The mall will have a total of 140,000 square feet of retail space, including anchor stores and smaller shops.

The start-up costs for the project will be approximately $15 million.

The mall will be open for business 12 hours a day, seven days a week.

The mall’s primary target market will be middle-income shoppers in the local area.

The mall will have an initial occupancy rate of 75%, with an average rent of $25/square foot.

The mall will offer amenities such as a food court, movie theater, and play area.

A team of experienced retail professionals will manage the mall.

The mall will generate approximately $20 million in gross sales in its first year of operation.

The mall will generate a positive cash flow by the end of its first year of operation.

The mall will have an average annual occupancy rate of 90% over the next five years.

Financial Projections

All tables in PDF

• What is a shopping mall business plan? A shopping mall business plan is a document that outlines the operational and financial objectives of a shopping mall. It typically includes market analysis, marketing strategies, financial projections, operational details, and other information necessary to start and operate a successful shopping mall. The plan should also outline strategies for managing the mall, including leasing strategies, customer service, and marketing.
• Strip mall : A strip mall, also known as a strip center, is a shopping center that consists of a row of storefronts, typically with surface parking in front.
• Enclosed mall: An enclosed mall, or indoor mall, is an indoor shopping center that usually features a variety of stores and restaurants.
• Outlet mall: An outlet mall is a shopping center that features discounted, name-brand merchandise from various stores.
• Super regional mall: A super-regional mall is a large shopping center with numerous department stores, specialty stores, and restaurants.
• Lifestyle mall: A lifestyle mall is a shopping center with a mix of upscale retailers, restaurants, entertainment venues, and services.
• What are the main sources of revenues and expenses for a shopping mall? The main sources of revenue for a shopping mall include retail sales from stores, rental income from tenants, and income from food courts and other amenities. Retail sales are generated from the stores within the mall, which typically includes clothing stores, shoe stores, and other specialty shops. Rental income is generated from tenants who pay to occupy space in the mall. Finally, income from food courts, movie theaters, and other amenities can be a significant source of revenue. The main expenses for a shopping mall include property taxes, rent payments, utilities, maintenance costs, and marketing expenses. Property taxes are typically based on the assessed value of the mall’s property. Rent payments are made to the mall’s landlord and to the tenants who occupy space in the mall. Utilities include electricity, water, sewer, and other services. Maintenance costs include the repair and upkeep of the mall’s grounds and facilities. Finally, marketing expenses include advertising, promotions, and other activities to attract customers to the mall.
• How do you get funding for your shopping mall business plan? One of the most common ways to fund a shopping mall business plan is to approach investors. This can be done through a variety of options, such as through angel investors, venture capitalists, private equity firms, and crowdfunding platforms. Through these sources, investors can provide funding in exchange for equity in the business, meaning that they will be part-owners of the mall. Additionally, some investors may provide debt financing, which involves the mall receiving a loan from the investor that must be paid back, usually with interest. Other sources of funding may include grants and government programs, bank loans, and personal savings.

Download Shopping Mall Business Plan in PDF

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Home » Sample Business Plans » Real Estate

How to Write a Shopping Mall Business Plan [Sample Template]

Are you about starting a shopping mall? If YES, here is a complete sample shopping mall business plan template & feasibility report you can use for FREE . One of the good businesses that you can start that will guarantee you steady income for a very long time with little or no stress is building a shopping mall.

With the right location, top-notch facility and good marketing skills, you can accommodate top profile retailers and businesses who would want to run their business from your facility. But opening up a shopping mall requires pretty huge startup capital; it also needs solid planning, and attention to detail in order to keep your business profitable.

A Sample Shopping Mall Business Plan Template

1. industry overview.

A shopping mall is a modern, essentially North American, term for a form of shopping area or shopping center in which one or more buildings form a complex of shops with interconnecting walkways, usually indoors. It is on record that in 2017, shopping malls accounted for 8 percent of retailing space in the united states.

The Shopping Mall Management industry consists of companies that develop, lease, maintain, repair and secure large commercial property in exchange for rental payments from retailers and businesses. For industry operators, rental income generates the largest portion of industry revenue with income from property management fees following.

Industry revenue primarily fluctuates in line with rental rates and occupancy levels. During a five-year period, the price of commercial real estate, benchmarked by the Green Street Commercial Property Price Index, grew at an estimated annualized rate of 5.8 percent. Furthermore, retail vacancy rates dwindled as mall foot traffic steadily grew due to boost in disposable income and consumer spending

The Shopping Mall Management industry is indeed a growing sector of the economy of the United States of America and it generates a over $23 billion annually from more than 8,326 shopping malls management companies. The industry is responsible for the employment of over 44,292 people.

Experts project that the industry will grow at a 0.2 percent annual rate between 2013 and 2018. The companies holding the largest market share in the Shopping Mall Management industry are Simon Property Group Inc. and Brookfield Property REIT Inc.

Research conducted by IBISWORLD reveals that over the past five years, the Shopping Mall Management industry has grown by 0.2 percent to reach revenue of $23bn in 2018. In the same time frame, the number of businesses declined by -2.4 percent and the number of employees declined by -2.2 percent.

The shopping mall line of business is very open to any aspiring entrepreneur who has the capital and capacity to open and run his or her shopping malls. Just ensure that your facility is located in an environment with the right demography and you will just be fine.

2. Executive Summary

Simone Cooper® Shopping Malls, Inc. is a licensed shopping mall management business. We have been able to secure a standard and well – positioned facility in a central district in 8322 Sheldon Road, Elk Grove, CA 94624. We are set to compete in the highly competitive shopping mall management industry not only in Elk Grove – California, but throughout the United States market because we intend building and opening our facilities in key cities across the United States.

Simone Cooper® Shopping Malls, Inc. will run a standard shopping mall that will be involved in the rental of commercial space, property management services, consulting, shop appraisal and listing services, construction services and other related services. Our business goal is to become one of the leading shopping mall management companies with world class shopping malls in the United States.

Our workers are going to be selected from a pool of certified, creative and highly experienced workers in and around Elk Grove – California. We will make sure that we take our workforce through the required training that will position them to meet the expectation of the company.

At Simone Cooper® Shopping Malls, Inc., our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Simone Cooper® Shopping Malls, Inc. is owned by Simone Cooper. A civil engineer, astute business man and core professional with hands – on experience in running shopping malls.

3. Our Products and Services

Simone Cooper® Shopping Malls, Inc. was established with the aim of maximizing profits in the shopping malls management industry. We want to compete favorably with the leading shopping malls in the United States which is why we have put in place a competent team that will ensure that our facilities meet and even surpass our customers’ expectations.

We will work hard to ensure that Simone Cooper® Shopping Malls, Inc. is not just accepted by retailers and businesses in Elk Grove – California, but also in other cities in the United States of America where we intend opening chains of shopping malls.

Our facilities and services are listed below;

• Rental of commercial spaces in our shopping malls
• Property management services
• Consulting, appraisal and listing services for shops in our shopping malls
• Construction of shopping malls
• Other related services.

4. Our Mission and Vision Statement

• Our vision is to establish a standard shopping mall management company whose facility and brand will not only be accepted in Elk Grove – California, but also in other cities in the United States of America.
• Our mission is to provide standard shopping malls and shopping mall management services that can attract some of the leading retailers, commercial offices, hairstylists, barbers and similar businesses who may not want to shoulder the responsibilities of owning a standard shop facility in a busy business district.
• We want to build a shopping mall management brand that can favorably compete with other leading brands in the industry.

Our Business Structure

We intend starting small in Sheldon Road, Elk Grove – California, but hope to grow big in order to compete favorably with leading companies in the industry both in the United States and on a global stage. We are aware of the importance of building a solid business structure that can support the kind of world class business cum brand we want to own.

We will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer
• Project Manager

Human Resources and Admin Manager

• Sales and Marketing Executive

Facility Manager

Client Service Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Project Manager:

• Serve as project manager of the organization; works directly with employees
• Develops strategic plan by studying the trends in the industry and financial opportunities; presenting assumptions; recommending objectives.
• Evaluates building plans and permits
• Reviewing and approving plans that meet building codes, local ordinances and zoning regulations
• Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
• Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
• Maintains quality service by establishing and enforcing organization standards.
• Makes certain that the project team performs efficiently, coordinates employee efforts, and facilitate communications between management and the workforce
• Ensures that the organization works in line with international best practices.
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Design job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defining job positions for recruitment and managing interviewing process
• Carrying out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversee the smooth running of the daily office activities.

Sales and Marketing Manager

• Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Model demographic information and analyze the volumes of transactional data generated by customer
• Identifies development opportunities; follows up on development leads and contacts
• Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Create new markets cum businesses for the organization
• Empower and motivates the sales team to meet and surpass agreed targets

Accountant/Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization
• Responsible for making sure that our shopping mall facilities meet the needs of the people that rent, lease or purchase them
• In charge of leasing and renting out accommodations and other properties under our ‘to let list’
• In charge of inspecting and reporting on the structural attributes of a building
• Responsible for evaluating the component systems of a building (electrical, fire, roofing and plumbing)
• Assesses compliance with building, electrical, plumbing and fire codes
• Ensuring that basic facilities, such as water and heating, are well-maintained
• Ensuring that facilities meet government regulations and environmental, health and security standards
• Overseeing building projects, renovations or refurbishments
• In charge cleaning, security and parking, to make sure the surrounding environment is in a suitable condition to work
• Welcomes clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the Human Resource and Admin Manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

6. SWOT Analysis

Simone Cooper® Shopping Malls, Inc. engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured shopping mall management business that can favorably compete in the industry in the United States and the world at large.

Here is a summary from the result of the SWOT analysis that was conducted on behalf of Simone Cooper® Shopping Malls, Inc.;

Our shopping mall is located in Sheldon Road, Elk Grove – California which happens to be one of the busiest commercial centers in California. We can boast of having a result and service driven team and we have access to pool of finance from our partners who are accredited investors. These are some of the strength of business.

As a new shopping mall management company in Elk Grove – California, it might take some time for us to break into the market and gain acceptance especially from top profile clients in the already saturated industry; that is perhaps our major weakness. Another weakness is the ability to compete with big – time players in the real estate industry when it comes to bidding for choice facilities.

• Opportunities:

The opportunities available to a business such as ours are enormous because, as the number of businesses increases, demand for commercial and retail space is assumed to increase at a parallel rate. Additional businesses entering the US economy provide a greater pool of potential clients for mall managers. Interestingly, the number of businesses in the United States is expected to increase in the coming years, presenting a potential opportunity for the industry

It is a fact that online shopping poses a direct threat to traditional brick-and-mortar retailers. With more consumers opting to shop online, many retailers have shuttered physical locations to preserve margins.

As more stores downscale operations, a business such as ours lose out on rent, thereby depleting our projected revenue. E-commerce sales are expected to increase in 2018, posing a possible threat to shopping mall management companies.

7. MARKET ANALYSIS

• Market Trends

The national retail vacancy rate has fallen during the five-year period. The fact that renting a shopping mall can be a cost-effective and efficient solution for retailers and related businesses and workers makes it an ideal Business model for retailers who just want to start small and grow big. The continued rise of online shopping will pressure brick-and-mortar locations out of malls.

This business model gives room for aspiring retailers and businesses to pitch their business tent in highbrow areas without necessarily breaking the bank. All they need to do is to ensure that their products and services are top – notch and they won’t have to spend loads of cash maintaining the facility or marketing their services.

It is the responsibility of the shopping mall management company to promote and maintain their facility. As a matter of fact, retailers are finding their freedom while renting small studio and shop spaces in larger, collective shopping malls.

8. Our Target Market

Before starting our business in Sheldon Road, Elk Grove – California, we conducted a thorough market survey and feasibility studies and we are certain that there are loads of retailers, business centers, hairstylists, barbers, tanning specialist and nail specialists et al who need large, medium and small spaces in our shopping mall facility to run their business.

In view of that, we have created strategies that will enable us reach out to various groups of people who we know will need our services. Below is a list of the people that we will specifically market our facility to;

• Business Centers
• Hairstylists
• Manicure and pedicure specialists
• Tanning specialists

Our competitive advantage

Surviving in the business world as a shopping mall management company operator requires more than your expertise, creativity, and knowing how to deliver standard services but also how to network with key people that matter; entrepreneurs that can rent your shops / spaces.

Because of the competitive nature of the shopping mall management business, there is an increasing degree of related business activities, with big players dominating the market. We are quite aware that to be highly competitive in the industry, you are not only expected to make available safe shops, and office spaces, but you must be able to meet set targets.

Our competitive advantage is anchored on the state – of – the art shopping mall facilities that we have. We also have a team of certified and experience workers. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.

Another strength that counts for us in the location of our shopping mall management; it is located in one of the most must busiest places in Sheldon Road, Elk Grove – California.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups shopping mall managements businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

Sources of Income

Simone Cooper® Shopping Malls, Inc. is established with the aim of maximizing profits in the shopping malls management industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.

Simone Cooper® Shopping Malls, Inc. will generate income by offering the following facility and services;

10. Sales Forecast

One thing is certain, there would always be business owners who would need to cut cost of starting the business hence need to rent a small space in a shopping mall facility.

We are well positioned to take on the available market in the industry in Elk Grove – California and we are quite optimistic that we will meet our set target of renting out all the spaces that is available in our facility and generating enough income/profits from the first six month of operation and grow our shopping mall management business to enviable heights.

We have been able to examine the shopping mall management market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Simone Cooper® Shopping Malls, Inc. It is based on the location of our shopping mall facility and of course our target market;

• First Fiscal Year:  $1 million
• Second Fiscal Year:  $2.5 million
• Third Fiscal Year:  $4 million

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same facility as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Our marketing strategies will be directed towards achieving specific objectives that will support the strategic goals of the organization. The truth is that all that we do will be geared towards creating new market channels, increasing sales and our market share.

Our unique selling proposition is that we are well positioned, we offer state of the art facility/services and people can easily access our facility. Our sales and marketing team will be recruited based on their vast experience in the shopping mall management industry and they will be trained on a regular basis so as to meet their targets.

Our corporate goal is to grow Simone Cooper® Shopping Malls, Inc. to become one of the top 10 shopping mall management brands in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Sheldon Road, Elk Grove – California but also in other cities in the United States of America.

Simone Cooper® Shopping Malls, Inc. is set to make use of the following marketing and sales strategies to attract clients;

• Open our shopping malls with a big party.
• Advertise our shopping malls on national dailies, local TV and radio stations
• Promote our business online via our official website and all available social media platforms
• Introduce our business by sending introductory letters alongside our brochure to retailers, business operators, hair stylists, barbers, tanning specialists and manicure and pedicure specialist and key stake holders in Elk Grove – California
• Print out fliers and business cards and strategically drop them in offices, sport facilities, libraries, public facilities and train stations et al.
• Make use of attractive hand bills to create awareness and also to give direction to our shopping mall facility
• Adopt direct mailing coupon marketing approach
• Position our signage / flexi banners at strategic places in and around Elk Grove – California

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for retailers and business center operators in the whole of Elk Grove – California and other cities in the United States of America where we intend opening our chains of shopping mall facilities which is why we have made provisions for effective publicity and advertisement of our business.

Below are the platforms we intend to leverage on to promote and advertise Simone Cooper® Shopping Malls, Inc.;

• Place adverts on both print (newspapers and real estate magazines) and electronic media platforms
• Sponsor relevant community – based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our tanning services
• Install Bill Boards in strategic locations all around Elk Grove – California
• Distribute our fliers and handbills in target areas
• List our shopping mall management business in local directories / yellow pages
• Advertise our shopping mall facilities in our official website and employ strategies that will help us pull traffic to the site.
• Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized facility and services) and we don’t intend to charge less than what our competitors are charging their clients.

• Payment Options

The payment policy adopted by Simone Cooper® Shopping Malls, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Simone Cooper® Shopping Malls, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via Point of Sale Machine (POS)
• Payment via online bank transfer
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for renting our shops and office spaces without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

From our market survey and feasibility studies, we have been able to come up with a detailed budget of establishing a standard shopping mall management business and here are the key areas where we will spend our startup capital;

• The total fee for registering the business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits – $1,500.
• Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of – $10,000.
• The total cost for hiring Business Consultant – $5,000.
• The amount needed for the purchase of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
• The total cost for the purchase of accounting software, CRM software and Payroll Software – $3,000
• The total cost for purchasing a landed property for the construction of our shopping mall – $1 million.
• The total cost for building a standard shopping mall – $4 million
• Other start-up expenses including stationery – $1000
• Phone and utility deposits – $3,500
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $200,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, tables and chairs et al) – $4,000.
• The cost of launching a Website – $600
• The cost for our grand opening party – $15,000
• Miscellaneous – $10,000

Going by the report from the market research and feasibility studies conducted, we will need about $5.5 million to successfully construct a medium scale but standard shopping mall business in the United States of America.

Generating Funds/Startup Capital for Simone Cooper® Shopping Malls, Inc.

No matter how fantastic your business idea might be, if you don’t have the money to finance the business, the business might not become a reality. Finance is a very important factor when it comes to starting a business. Raising startup capital for a business might not come cheap, but it is a task that an entrepreneur must go through.

Simone Cooper® Shopping Malls, Inc. is a private business that is solely owned and financed by Mr. Simone Cooper and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from the Bank

N.B: We have been able to generate about $1.5 million (Personal savings $1 million and soft loan from family members $500,000) and we are at the final stages of obtaining a loan facility of $4 million from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Simone Cooper® Shopping Malls, Inc. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to lease our shopping mall spaces a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Simone Cooper® Shopping Malls, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

We know if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Securing a standard facility and reconstructing the facility to fit into the kind of shopping mall facility we want to manage: Competed
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of Logo for the business: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed office furniture, office equipment, software applications, electronic appliances and facility facelift : In progress
• Creating official website for the business: In Progress
• Creating Awareness for the business: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress

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SHOPPING MALL BUSINESS PLAN TEMPLATE

Explore Options to Get a Business Plan.

Introduction

A shopping mall is a large, often indoor, building with various stores representing many different businesses. Shopping malls are usually located in high-traffic areas near busy intersections or along major highways. The first shopping mall in the United States was the Country Club Plaza in Kansas City, Missouri, which opened in 1922. Today, thousands of shopping malls in the United States are popular destinations for shoppers and tourists alike. If you are thinking about starting your shopping mall, there are a few things you need to know. First, you will need to find a suitable location. Second, you will need to obtain the necessary financing. And third, you will need to develop a business plan. Starting a shopping mall can be a rewarding and profitable venture with careful planning and execution.

Global Market Size

The global market for shopping malls is estimated to be worth $1.2 trillion in 2015, according to a report by JLL. The U.S. alone is home to over 1,200 malls, which account for about 10 percent of the country's retail space. Several factors have contributed to the growth of shopping malls around the world. One is the rise of the middle class in many countries, which has led to more people having disposable income to spend on shopping. Another is the growth of online shopping, which has made it easier for people to compare and find the best deals on products. Despite the growth of the shopping mall industry, malls face several challenges. One is the rise of e-commerce, which has made it easier for people to shop from the comfort of their homes. Another challenge is the economic slowdown in many countries, which has led to less spending on non-essential items like clothing and shoes. Despite these challenges, the shopping mall industry is expected to grow in the coming years. This growth will be driven by the continued rise of the middle class in many countries and the growth of online shopping.

Target Market

If you're thinking of starting a shopping mall business, one of the first things you need to do is identify your target market. Your target market is the group of people who are most likely to shop at your mall. To identify your target market, you need to consider a few factors, including:

-The location of your mall. If you're in a densely populated area, your target market will likely be different than in a more rural area.

-The type of products or services you'll be offering. If you're selling high-end fashion, your target market will be different than if you're selling budget-friendly fashion.

-The demographics of your potential shoppers. This includes factors like age, income, gender, and so on. Once you've considered all of these factors, you should have a good idea of who your target market is. You can start planning your marketing and advertising strategies to reach these potential shoppers.

Business Model

Many different business models can be used when starting a shopping mall business. The most common and successful model is the anchor tenant model. This model relies on having one or more large anchor tenants, such as a department store or a grocery store, that act as draws for customers. The anchor tenant(s) then leases space from the shopping mall owner, and the smaller stores in the mall lease space from the anchor tenant(s). This model is successful because it gives customers a reason to come to the shopping mall and smaller stores with a built-in customer base. Another standard business model for shopping malls is the specialty leasing model. In this model, the shopping mall owner leases space to a variety of different stores that all specialize in a specific type of merchandise. This can be anything from a mall specializing in clothing stores to a mall specializing in electronic stores. The advantage of this model is that it can be easier to attract customers to a shopping mall with a specific type of merchandise they are looking for. Whichever business model is used, it is essential to have a well-thought-out business plan for the shopping mall. This plan should include a detailed marketing strategy, a financial plan, and a plan for operations.

Competitive Landscape

As you develop your business plan and start to think about opening a shopping mall, it's essential to understand the competitive landscape. Who are your potential competitors? What are their strengths and weaknesses? How can you position your shopping mall to succeed in the face of competition? Here are a few things to keep in mind as you research the competitive landscape for your shopping mall business:

• Know your market. Before you can understand the competitive landscape, you need to have a good grasp of the market you're targeting. Who are your potential customers? What are their needs and wants? What are their shopping habits? The more you know about your target market, the better you'll understand the competitive landscape.
• Understand your competition. Once you know your market, it's time to start researching your potential competitors. Who are they? What do they offer? What are their strengths and weaknesses? What is their market share? The more you know about your competition, the better you'll be able to position your own business for success.
• Develop a competitive advantage. Once you understand the competitive landscape, you must develop a competitive advantage. What can you offer that your competitors don't? What can you do better than them? If you can't find a way to stand out from the crowd, your shopping mall is likely to struggle.
• Keep an eye on the future. The competitive landscape is constantly changing, so keeping an eye on the future is essential. What are new shopping malls being developed in your area? What changes are happening with your existing competitors? You'll be better prepared to adapt and change as the landscape shifts by staying ahead of the curve.

Now that you have all the information you need to start your own shopping mall business, it's time to take the next step. If you're unsure where to start, consider hiring a professional business consultant to help you get started. With the proper planning and execution, your shopping mall can be a success.

• Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
• Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
• Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
• Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
• Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
• Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
• Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
• Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
• Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
• Business plans allow you to position your brand by understanding your company’s role in the marketplace.
• Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
• Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.
• Executive Summary
• Company Overview
• Industry Analysis
• Consumer Analysis
• Competitor Analysis & Advantages
• Marketing Strategies & Plan
• Plan of Action
• Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

To complete your perfect Shopping Mall business plan, fill out the form below and download our Shopping Mall business plan template. The template is a word document that can be edited to include information about your Shopping Mall business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

Website Design & Development for Shopping Mall Businesses

A Guide to Social Media for Shopping Mall Businesses

Shopping Mall Business Plan Template FAQs

What is a business plan for a/an shopping mall business, how to customize the business plan template for a shopping mall business, what financial information should be included in a shopping mall business plan, are there industry-specific considerations in the shopping mall business plan template, how to conduct market research for a shopping mall business plan, what are the common challenges when creating a business plan for a shopping mall business, how often should i update my shopping mall business plan, can i use the business plan template for seeking funding for a shopping mall business, what legal considerations are there in a shopping mall business plan.

Retail Dogma

RETAILDOGMA

RETAIL EDUCATION & TRAINING SOLUTIONS

Retail Business Plan

A retail business plan is a document that gives you and your potential investors a roadmap on how your new retail business intends to get started and deliver its business goals over its initial few years (usually 5 years).

It is usually broken down into sections about the company, the industry it operates in, the competition it will face and a plan that covers marketing, financials and operations over the first few years in business.

Also check out this one-page Business Model Canvas for a retail business .

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Retail Business Plan Template

You can download this free retail business plan template from the link below. You will be able to edit the word file and export it into PDF format afterwards.

In the coming sections, we will explain the different components that go into the retail business plan, which you can then apply to your own plan when completing the template.

Check out more free downloads .

Executive Summary

We recommend writing the executive summary at the end of the process, after you have filled out all the other sections in the retail business plan template.

In the executive summary you will cover the following points briefly:

• Types of products sold at the store
• Customers served by the store
• Company mission & vision
• Market share to be captured

You will also mention the total amount you will need to start this business, backed by the financial plan you prepared as part of this business plan.

The total amount that you want to borrow or have invested in your business will be the sum of pre-opening costs (initial inventory, equipment, rent,..) and the maximum negative cash flow as per your cash flow plan.

If you are writing this retail business plan for a financial institution to get a loan, mention how you expect to repay the loan, and you should have already included the loan installments in your financial plan.

If you are writing this plan for investors, mention how much equity they will receive in return for this investment and the expected return on investment, and expected cash distributions (dividends) based on your financial plan.

For example

An investment of 100,000$ in the business will result in the investor receiving 20% equity. We plan to distribute 50% of the profits every year, and based on our financial projections this will be a xx,xxx$ in the first year, xx,xxx$ in the second year, and xx,xxx$ in the third year,..etc.

Company Overview

Here you will write about your business and give a brief overview about the type of store you will be starting.

You can cover the following points:

• Store category (e.g. beauty store, toy store)
• Store location and brief description of the area
• Product categories carried
• Company legal structure

Industry Overview

Write an overview about the industry (retail/ecommerce) as a whole and the most recent trends specific to this industry.

Cover areas such as:

• Total retail sales
• Contribution of your retail category to the total sales (size of the market)
• Online vs. Brick & Mortar trends
• Recent industry trends and shifts in terms of products you are selling

You can find the most recent insights about retail in our Retail Statistics page.

Read Also: What is Retail ?

Target Market

Write about your target customers that you know will be interested in your products. Mention demographic and psychographic details in this section. This will help afterwards in drafting your marketing plan.

You can cover the following details:

• Age bracket
• Income level
• Educational level
• The specific needs that your products will fill for them

FOUNDATIONS OF MARKETING

• Learn the fundamentals of marketing
• See how they apply to buying, merchandising & pricing
• Real-life case studies and examples

Competition

List the current competition in the market that are serving your target customers. Mention your top 3 competitors in your area.

You can also include indirect competition, such as online stores or marketplace sellers, if you think this might affect your business.

Cover information about:

• No. of stores
• Size of stores
• Product categories they sell
• Pricing level
• Sales per day estimates
• Strengths & Weaknesses

You can also create a summary table like the one below

Competitive Advantage

What will make customers leave the competition and come to you? Use the weaknesses areas that you mentioned about the competition in the previous section, and mention how you will improve on them.

This could be by:

• Superior quality
• Better prices
• Convenience
• More variety
• Better shopping experience

Marketing Plan

Describe your marketing strategy for your store and which channels you are going to use.

Cover the following areas:

• Brand Positioning
• Branding Strategy (Persona, tone, language,..)
• Product Strategy (Key products and product features that will attract your customers)
• Pricing Strategy
• Promotional Strategy
• Marketing Channels

Operations Plan

Write how you will operate your store and include details about your manpower plan.

This will include the management that you will hire for the store, visual merchandisers, sales staff and cashiers.

Cover the following:

• Management structure (store manager, supervisor,..)
• Staff plan (3 sales associates, 2 cashiers, etc.)
• Brief role descriptions
• Compensation structure

Read Also: Retail Scheduling

RETAIL OPERATIONS MANAGEMENT

• Managing Store Operations
• Areas of Responsibility
• Assessing & Managing Performance

Financial plan

List estimates for the capital you will need to start and financial projections for the following years.

Capital Needed

Start with how much capital you will need to start the business

This will include:

• Initial rent
• Initial product order (Inventory)
• Initial staff salary
• Store fixtures
• Store equipment

Read Also: How Much Capital You Will Need For a New Retail Store?

Financial Projections

Include a 5-year financial projection for the business based on your forecasted sales and costs.

• Monthly income statement (P&L) for the first year
• Yearly income statement for the following 4 years
• Monthly cash flow projection for the first year

Learn how to create a sales budget for a new store, and 3 years financial projections in our Retail Budgeting Course

RETAIL BUDGETING & PLANNING

• The step by step retail budgeting process
• Set monthly targets adjusted to seasonality
• Templates download & practice exercise

Break Even Point

Include a snapshot of the 5-year P&L plan here and mention the SPD (sales per day) you need to breakeven, based on your P&L numbers.

We have created a sample table with retail data in the business plan template, and you can fill it with your own numbers.

Key Assumptions

Mention the assumptions you used for creating your financial projections.

For example , you assumed that sales per day for the first year will be 1000$ and then will grow by 20% in the second year, 15% in the third year and 10% in the fourth year, etc.

Retail Business Plan Tips

Sales projections.

We recommend being very realistic about your initial sales per day projections, as your entire financial plan will be directly affected by it.

When you then forecast your growth for the coming years, you should also be realistic about how much you will grow year-on-year.

From our experience, retail stores typically see higher growth after the first year and then this starts to level off from the third year onwards.

Having said that, there might be other growth drivers that can affect your business and accelerate your growth in the following years. This could be for example that your new store is in an area that is still under development and will be fully developed by the third year.

What we want to say is, do your due diligence thoroughly and based on that set realistic expectations.

Inventory Projections

The biggest asset you will hold and the biggest part of the investment/loan you will need to start your retail business will go for inventory.

So it is important to calculate your inventory needs correctly.

This will be based on your sales forecasts and the inventory turnover rate you expect or the forward stock cover you intend to maintain.

For example, if your inventory turnover target is 2, this means you maintain a 6 months cover. If your inventory turnover is 3, you maintain 4 months stock cover,..and so on.

We recommend checking out the benchmarks we have listed for different retail categories for inventory turnover and reading our complete Open to Buy guide to get started with calculating exactly how much inventory you will need.

Good luck in your new venture!

THE PROFESSIONAL RETAIL ACADEMY (PRA) ™

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More Resources

Thank you for reading this article on Retail Business Plan. We recommend the below free resources as well:

• Retail Management
• Starting a Retail Business
• Buying a Retail Business

Join the academy and get all access to all our resources, which will help you manage your retail business more efficiently.

FEATURED RESOURCES

CONNECT THE DOTS

We’ve put together a curriculum specifically designed for retail owners or retail professionals who want to advance into senior management roles.

Learn how to connect the dots of the business and take the basic knowledge to the next level of application .

How to Write a Retail Store Business Plan in 2024 (Free Template)

This guide to writing a retail store business plan can help you to organize your ideas and impress potential investors.

Marcel Deer Author

Marcel Deer

Retail Store Business Strategy Plan

The retail industry in the United States stands as one of the largest and most dynamic in the world, boasting a landscape where innovation and entrepreneurship thrive. Over the past few decades, the total retail sales figures in the U.S. have witnessed remarkable growth, soaring from just under three trillion U.S. dollars in 2000 to over seven trillion dollars in 2022. While growth is projected to continue in the coming years, albeit at a slightly slower pace, forecasts anticipate retail sales to reach approximately 7.9 trillion U.S. dollars by 2026, according to Statista . 

This trajectory highlights the enduring appeal and vast potential within the retail market, presenting an opportune moment for aspiring entrepreneurs to venture into the domain of retailing. Opening a retail store in this dynamic environment requires a strategic business plan, market research, and a clear understanding of consumer trends to capitalize on the industry's growth and unlock success in the competitive retail landscape.

This article will help you:

Learn the essential elements of a business plan.

Write a successful retail store business plan.

Present your business plan to potential partners or investors.

How to Write a Retail Store Business Plan

Writing a retail store business plan prepares you to answer questions about the store’s concept, staffing, budget, and other critical considerations. Many retail stores require capital in the form of loans or investments–a business plan is your ticket into meetings with lenders. 

Business plans guide how you and your team will carry out the daily, quarterly, and yearly operations of the retail store.Operating a retail store comes with contingencies, surprises, and unforeseeable interruptions. When the unexpected happens, you can rely on your business plan to guide you through the challenge.

Emily Thompson, owner of Almnac Supply Co. said in an interview with Being Boss Poscast , “I absolutely love thinking about how this business works in this new expanded capacity and building the systems that make it work so that everyone can do their job.” 

Elements of a retail store business plan

Executive summary.

Business plans start with an executive summar that introduction all the key elements of your retail store. This section describes the store’s concept, mission, and core values–everything that makes your store unique. It also provides an overview of the budget and a description of operations.

You might think of this section as the hook of the business plan. Consider who will read the plan and how you can catch their attention. What makes your retail store unique? What market factors make your plan a recipe for success? It is good to provide clear and direct descriptions of your products and how your store fills a market gap.

Company Overview

The company overview section of your retail store’s business plan is more practical and specific description of your business. It acts as a guide to the rest of the business plan.

This section brings the rest of the business plan together. It is a good idea to show how the moving parts of your staffing plan, market analysis, finances, and operations work in tandem.

 Even though it appears at the beginning, you might need to write it after you have the rest of the sections filled out.

The aesthetics of your retail store’s brand also belong in this section. Provide examples of the store’s logo and branding. These details will help readers to envision the customer experience your retail store offers.

Team and Management

Staffing is a top priority whether you want a small boutique or large warehouse store. Use this section to design a scalable staffing plan that prepares for both immediate and future staffing needs.

The team and management section of your retail store business provides a detailed look at the store’s staffing needs and management structure. This information will influence other elements of your business plan, such as the budget, so it’s important to nail down these details.

Consider what kind of jobs you plan to create. Will you hire full-time or part-time employees? What kind of benefits you are required to provide? This section is also where you can make a plan for hiring, training, retention, and promotion.

Write about  how many employees you’ll need in the retail store and how many shifts you’ll need per day. Then, calculate how many managers are needed to keep things running smoothly. Will you need a general manager to oversee department managers? Your staff is responsible for your customer’s experience. Creating a strong staffing structure is a vital move toward success.

Market Analysis

The market analysis is one of the central pieces of a retail store business plan. Investors and loan officers will want to know the potential risks (and rewards) of your store. Three core areas are important here: target market, location, and competition.

Target Market

Your retail store’s target market is a snapshot of the kind of customers that will visit your store. It's good to be able to show investors that there is a demand for the kind of products you’ll be selling.

In aligning our retail store's product strategy with market segments, you should focus on three potential segments:

• Low-End Market: Catering to budget-conscious consumers, offer cost-effective, quality products from reputable suppliers, ensuring affordability without compromising quality.
• Mid-Market: Balancing affordability and quality, curate a diverse range of mainstream and specialty items at competitive prices, appealing to value-driven shoppers seeking reliable options.
• Premium Market: For discerning customers valuing luxury and exclusivity, we provide a curated selection of high-end and artisanal products, prioritizing quality, craftsmanship, and uniqueness.

This segmentation approach allows us to address diverse consumer needs while maintaining a consistent brand identity focused on quality and value across all market segments.

Location Analysis

There are some key things to write about the location of your retail store. What kind of foot traffic visits the mall, shopping center, or downtown where your store will be?  Potential investors would like to know if your store is positioned in an advantageous location.

Competitive Analysis

That brings us to an analysis of the competition in the area. If there is another gift shop in near the location you have pinpointed, try to impress investors with how your store delivers something unique and attractive. 

This analysis can also tie into the marketing section–how your marketing strategy will attract your target customers. This kind of research goes a long way toward proving that your retail store is a smart business venture. 

Marketing and Publicity

The marketing and publicity section of your retail store business plan will offer a comprehensive view of your marketing strategy. Setting your store up is only half the work–becoming profitable requires brand awareness to drive sales.

Building hype for your store on social media, radio, and TV can ensure that your business’s launch is a hit. Offering promotions, loyalty programs, or discounts can create regular customers and consistent sales.

It’s a good idea to allocate a specific percentage of your sales to marketing. Investors want to know how you plan to become and remain profitable. Marketing and publicity are important parts of that equation. Consider including specific examples in your business plan like the following:

• Loyalty Programs: Implement a loyalty program to reward repeat customers with discounts, special offers, or exclusive access to sales and events.
• Email Newsletters: Send regular newsletters to subscribers with updates on new products, promotions, and upcoming events to keep them informed and engaged.
• In-Store Events: Host in-store events such as product demonstrations, workshops, or pop-up shops to attract customers and encourage them to visit your store.
• Influencer Partnerships: Collaborate with influencers or bloggers in your niche to promote your products to their followers and reach a wider audience.
• Cross-Promotions: Partner with complementary businesses or local organizations to cross-promote each other's products or services and expand your reach.
• Online Advertising: Use online advertising platforms like Google Ads or Facebook Ads to target potential customers based on their interests, demographics, and online behavior.
• Referral Program: Encourage satisfied customers to refer their friends and family to your store by offering them discounts or rewards for successful referrals.
• Seasonal Promotions: Run seasonal promotions and sales for holidays, back-to-school season, or other relevant events to capitalize on increased consumer spending.

Business Operations

The business operations section details the plan for daily workflows and ongoing demands. The day-to-day operations of your retail store make your big ideas possible. Help your investors rest easy knowing that your retail store’s operations are under control.

Systems and Equipment

Make a plan for what kind of equipment you need and factor those expenses into your start-up costs. Things like cash registers, small appliances, and computers are essential to your operations. Researching the exact pieces you want to buy can result in more accurate financial projections.

Your retail store can’t operate without a point of sale . Deciding on a system that is easy to operate for employees and powerful on the back end is crucial to your retail store’s success.

The importance of where you source products and necessary supplies can’t be understated. Try to find consistent, quality suppliers for your stock. And it can pay off to shop around to find the most affordable cleaning supplies.

It never hurts to have a backup supplier in case of shortages. Sourcing supplies locally can be a failsafe against surprise supply chain interruptions.

Sales Forecasts and Operating Expenses

Calculating sales and expenses can be make-or-break for new business. And finances are likely to be an investor’s main concern. There are a few different reports that you can create to help strengthen your retail store business plan: a profit and loss statement, a break-even analysis, and expected cash flow.

Profit & Loss

A profit and loss statement forecasts sales and balances them against expenses. Example profit and loss statements can help you get an idea of how to build one for your business. It will probably require some educated projections. After some thorough research, generate expense statements and sales forecasts that are as accurate as possible. 

Break-even analysis

A  break-even analysis compares your retail store’s expenses against projected sales and lets you imagine a timeline for when your business will become profitable. This analysis accounts for everything: labor, equipment costs, financing interest, and sales projections. 

Expected cash flow

A  expected cash flow report provides a breakdown of sales projections, start-up funding, and expenses. This can let investors know that you understand how much capital or investment you will need to sustain your business until it becomes profitable. 

Financing and Loans

Over time, a retail store can become a great asset in an investment portfolio; many business owners need start-up financing to make their ideas into reality. There are a few avenues to obtain proper funding for a retail store. Different kinds of retail stores will require different size investments. Forbes breaks down business startup costs , saying that knowing startup costs “makes you better prepared as an entrepreneur and can improve your odds of success.”

These means of funding can help you to start your retail store:

SBA Microloans for small businesses.

Business lines of credit.

Equipment and supply financing.

Startup business grants.

Business loans and investments.

Restaurant Profit Margin Calculator

Use this free Restaurant Profit Margin Calculator to see how efficiently you turn sales dollars into profits.

How to present a retail store business plan

As you write and edit your retail store’s business plan, you’ll become an expert on the concept, market, and financing. Practice talking about your business idea to friends and family. That way,  presentations to investors or partners will feel natural instead of rehearsed. Project confidence to impress people with how sure you are of your business’s potential for success.

It’s also a good idea to prepare a 30-second “elevator pitch” so that you can communicate all the big points of your business plan quickly. You never know when you’ll find yourself in the presence of a potential partner or investor. Another good strategy is to anticipate potential follow-up questions and have answers prepared.

Send your business plan to as many potential investors as possible. And don’t shy away from applying for helpful loans or lines of credit. You might create some valuable professional relationships along the way.

Have a detailed, 10-15 minute presentation prepared for when you secure meetings. Experiment with different ways to make your retail store sound like an exciting opportunity. The first rule of sales can help you here too: always be closing. Once you have a potential partner or investor’s attention, don’t hesitate to ask for the investments you need.

Remember to be honest and genuine when networking or presenting your business plan. Charisma and business savvy can go a long way toward building rapport and professional relationships.

Why Toast Retail is Perfect for Retail Stores

In today's competitive retail landscape, selecting the right technology is essential for both new ventures and established businesses aiming for success. Solutions like Toast retail not only streamline operations, making them more efficient, but also provide invaluable insights to optimize the financial health of the business. 

By harnessing the power of point of sale technology, retailers can gain a competitive edge, improve customer satisfaction, and drive sustainable growth. Choosing the right technology sets the foundation for long-term success, empowering businesses to adapt to evolving market demands and thrive in an increasingly digital world.

The tech that redefined restaurants is now here to transform retail. Supercharge your store with the POS built for high volumes and complexity, offering everything you need to run your business on one platform. Toast's retail offering is a game-changer for businesses like convenience stores, liquor stores, and retail stores, revolutionizing how they operate and interact with customers. Here's why Toast is the perfect fit for these retail environments.

1. Helps Modernize How You Sell

Toast's intuitive, cloud-based system simplifies daily operations. Its user-friendly interface makes staff training a breeze, ensuring seamless adoption across your team. Whether it's processing payments in-store or integrating with online sales channels, Toast ensures a smooth and consistent experience for your customers regardless of how they shop.

Intuitive Cloud-Based System: Our intuitive, cloud-based system is easy to learn and easy to use. Say goodbye to complicated interfaces and hello to streamlined processes. Toast is designed to simplify your day-to-day operations, from staff training to consolidated operations, ensuring maximum efficiency and productivity.

Seamless Payment Processing: Toast’s seamless payment processing easily integrates with online payments for smoother sales every time, no matter how your customers are shopping. This integration ensures a hassle-free experience for both customers and staff, leading to increased satisfaction and faster transactions.

Flexible Order and Checkout Options: Offer flexible and efficient order and checkout options with reliable hardware including handhelds, kiosks, and guest-facing terminals. Adapt to the diverse needs of your customers and reduce wait times at checkout with Toast's versatile hardware solutions, enhancing the overall shopping experience.

2. Streamline Retail Management

Efficiency is key in retail, and Toast delivers with automated, mobile-first inventory management. Say goodbye to manual inventory tracking and hello to SmartScan, a feature that enables quick product scanning and shelf placement. Managing thousands of SKUs becomes effortless with Toast's intuitive product database and bulk update capabilities.

Automated, Mobile-First Inventory: Experience the freedom of automated, mobile-first inventory management with Toast. Create and print barcodes in bulk, and take new products from scan to shelf in seconds with our SmartScan feature. Say goodbye to tedious manual inventory tasks and hello to streamlined operations.

Efficient SKU Management: Easily manage thousands of SKUs with our intuitive product database and bulk updates feature. Modify, reprice, and import multiple products at once, saving valuable time and resources. With Toast, keeping track of your inventory has never been easier.

Retail-Enhanced Dashboards: Stay on top of your business with retail-specific dashboards and cost-tracking reports. Monitor trends, maximize margins, and ensure your top-selling products are always stocked, empowering you to make data-driven decisions that drive profitability.

3. Tailor Your Customer Experience

Toast empowers you to tailor the customer experience to fit your unique retail concept. Whether you're considering adding food service or expanding your offerings, Toast's flexible platform accommodates creative expansion.

Creative Expansion Opportunities: Thinking of adding food service to your retail concept? Including Kitchen Display Systems and Order Ready Boards, our flexible platform allows for creative expansion. Explore new revenue streams and enhance the overall customer experience with Toast's versatile features.

Online Ordering and Delivery Integrations: Give your guests the option to order from home with Toast’s Online Ordering and our third-party delivery integrations. Meet your customers where they are and provide convenience that keeps them coming back, increasing customer loyalty and satisfaction.

Loyalty Rewards and Personalized Offers: Be your neighborhood's favorite shop (and incentivize repeat visits) with loyalty rewards and personalized offers. Transform one-time shoppers into loyal patrons by engaging with your community and offering enticing rewards, making your store the go-to destination for your customers.

In conclusion, Toast's retail solution is more than just a point of sale system; it's a comprehensive toolkit designed to elevate your retail store to new heights. From modernizing sales processes to streamlining management and enhancing the customer experience, Toast empowers retail businesses to thrive in today's competitive market.

Related Resources

• Best Retail POS Systems
• How to Open a Retail Store
• Retail Store Equipment
• Retail POS Software
• Retail Store Marketing Ideas
• How to Design a Retail Store
• Retail Store Ideas and Concepts
• Retail Store Inventory Management
• Cost to Open a Retail Store
• How Much Do Retail Stores Make
• How to Run a Retail Store

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DISCLAIMER: This information is provided for general informational purposes only, and publication does not constitute an endorsement. Toast does not warrant the accuracy or completeness of any information, text, graphics, links, or other items contained within this content. Toast does not guarantee you will achieve any specific results if you follow any advice herein. It may be advisable for you to consult with a professional such as a lawyer, accountant, or business advisor for advice specific to your situation.

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Free PDF Business Plan Templates and Samples

By Joe Weller | September 9, 2020

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We’ve gathered the most useful collection of business plan PDF templates and samples, including options for organizations of any size and type.

On this page, you’ll find free PDF templates for a simple business plan , small business plan , startup business plan , and more.

Simple Business Plan PDF Templates

These simple business plan PDF templates are ready to use and customizable to fit the needs of any organization.

Simple Business Plan Template PDF

This template contains a traditional business plan layout to help you map out each aspect, from a company overview to sales projections and a marketing strategy. This template includes a table of contents, as well as space for financing details that startups looking for funding may need to provide. 

Download Simple Business Plan Template - PDF

Lean Business Plan Template PDF

This scannable business plan template allows you to easily identify the most important elements of your plan. Use this template to outline key details pertaining to your business and industry, product or service offerings, target customer segments (and channels to reach them), and to identify sources of revenue. There is also space to include key performance metrics and a timeline of activities. 

Download Lean Business Plan Template - PDF

Simple 30-60-90 Day Business Plan Template PDF

This template is designed to help you develop and implement a 90-day business plan by breaking it down into manageable chunks of time. Use the space provided to detail your main goals and deliverables for each timeframe, and then add the steps necessary to achieve your objectives. Assign task ownership and enter deadlines to ensure your plan stays on track every step of the way.

Download Simple 30-60-90 Day Business Plan Template

PDF | Smartsheet

One-Page Business Plan PDF Templates

The following single page business plan templates are designed to help you download your key ideas on paper, and can be used to create a pitch document to gain buy-in from partners, investors, and stakeholders.

One-Page Business Plan Template PDF

Use this one-page template to summarize each aspect of your business concept in a clear and concise manner. Define the who, what, why, and how of your idea, and use the space at the bottom to create a SWOT analysis (strengths, weaknesses, opportunities, and threats) for your business. 

Download One-Page Business Plan Template

If you’re looking for a specific type of analysis, check out our collection of SWOT templates .

One-Page Lean Business Plan PDF

This one-page business plan template employs the Lean management concept, and encourages you to focus on the key assumptions of your business idea. A Lean plan is not stagnant, so update it as goals and objectives change — the visual timeline at the bottom is ideal for detailing milestones. 

Download One-Page Lean Business Plan Template - PDF

One-Page 30-60-90 Day Business Plan Template

Use this business plan template to identify main goals and outline the necessary activities to achieve those goals in 30, 60, and 90-day increments. Easily customize this template to fit your needs while you track the status of each task and goal to keep your business plan on target. 

Download One-Page 30-60-90 Day Business Plan Template

For additional single page plans, including an example of a one-page business plan , visit " One-Page Business Plan Templates with a Quick How-To Guide ."

Small Business Plan PDF Templates

These business plan templates are useful for small businesses that want to map out a way to meet organizational objectives, including how to structure, operate, and expand their business.

Simple Small Business Plan Template PDF

A small business can use this template to outline each critical component of a business plan. There is space to provide details about product or service offerings, target audience, customer reach strategy, competitive advantage, and more. Plus, there is space at the bottom of the document to include a SWOT analysis. Once complete, you can use the template as a basis to build out a more elaborate plan. 

Download Simple Small Business Plan Template

Fill-In-the-Blank Small Business Plan Template PDF

This fill-in-the-blank template walks you through each section of a business plan. Build upon the fill-in-the-blank content provided in each section to add information about your company, business idea, market analysis, implementation plan, timeline of milestones, and much more.

Download Fill-In-the-Blank Small Business Plan Template - PDF

One-Page Small Business Plan Template PDF

Use this one-page template to create a scannable business plan that highlights the most essential parts of your organization’s strategy. Provide your business overview and management team details at the top, and then outline the target market, market size, competitive offerings, key objectives and success metrics, financial plan, and more.

Download One-Page Business Plan for Small Business - PDF

Startup Business Plan PDF Templates

Startups can use these business plan templates to check the feasibility of their idea, and articulate their vision to potential investors.

Startup Business Plan Template

Use this business plan template to organize and prepare each essential component of your startup plan. Outline key details relevant to your concept and organization, including your mission and vision statement, product or services offered, pricing structure, marketing strategy, financial plan, and more.

‌Download Startup Business Plan Template

Sample 30-60-90 Day Business Plan for Startup

Startups can use this sample 30-60-90 day plan to establish main goals and deliverables spanning a 90-day period. Customize the sample goals, deliverables, and activities provided on this template according to the needs of your business. Then, assign task owners and set due dates to help ensure your 90-day plan stays on track.

‌Download Sample 30-60-90 Day Business Plan for Startup Template 

For additional resources to create your plan, visit “ Free Startup Business Plan Templates and Examples .”

Nonprofit Business Plan PDF Templates

Use these business plan PDF templates to outline your organization’s mission, your plan to make a positive impact in your community, and the steps you will take to achieve your nonprofit’s goals.

Nonprofit Business Plan Template PDF

Use this customizable PDF template to develop a plan that details your organization’s purpose, objectives, and strategy. This template features a table of contents, with room to include your nonprofit’s mission and vision, key team and board members, program offerings, a market and industry analysis, promotional plan, financial plan, and more. This template also contains a visual timeline to display historic and future milestones.

Download Nonprofit Business Plan Template - PDF

One-Page Business Plan for Nonprofit Organization PDF 

This one-page plan serves as a good starting point for established and startup nonprofit organizations to jot down their fundamental goals and objectives. This template contains all the essential aspects of a business plan in a concise and scannable format, including the organizational overview, purpose, promotional plan, key objectives and success metrics, fundraising goals, and more.

Download One-Page Business Plan for Nonprofit Organization Template - PDF

Fill-In-the-Blank Business Plan PDF Templates

Use these fill-in-the-blank templates as a foundation for creating a comprehensive roadmap that aligns your business strategy with your marketing, sales, and financial goals.

Simple Fill-In-the-Blank Business Plan PDF

The fill-in-the-blank template contains all the vital parts of a business plan, with sample content that you can customize to fit your needs. There is room to include an executive summary, business description, market analysis, marketing plan, operations plan, financial statements, and more. 

Download Simple Fill-In-the-Blank Business Plan Template - PDF

Lean Fill-In-the-Blank Business Plan PDF

This business plan is designed with a Lean approach that encourages you to clarify and communicate your business idea in a clear and concise manner. This single page fill-in-the-blank template includes space to provide details about your management team, the problem you're solving, the solution, target customers, cost structure, and revenue streams. Use the timeline at the bottom to produce a visual illustration of key milestones. 

Download Fill-In-the-Blank Lean Business Plan Template - PDF

For additional resources, take a look at " Free Fill-In-the-Blank Business Plan Templates ."

Sample Business Plan PDF Templates

These sample business plan PDF templates can help you to develop an organized, thorough, and professional business plan.

Business Plan Sample 

This business plan example demonstrates a plan for a fictional food truck company. The sample includes all of the elements in a traditional business plan, which makes it a useful starting point for developing a plan specific to your business needs.

Download Basic Business Plan Sample - PDF

Sample Business Plan Outline Template

Use this sample outline as a starting point for your business plan. Shorten or expand the outline depending on your organization’s needs, and use it to develop a table of contents for your finalized plan.

Download Sample Business Plan Outline Template - PDF

Sample Business Financial Plan Template

Use this sample template to develop the financial portion of your business plan. The template provides space to include a financial overview, key assumptions, financial indicators, and business ratios. Complete the break-even analysis and add your financial statements to help prove the viability of your organization’s business plan.

Download Business Financial Plan Template

PDF  | Smartsheet

For more free, downloadable templates for all aspects of your business, check out “ Free Business Templates for Organizations of All Sizes .”

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Shopping Mall Design [Floor Plan and Layout Included]

By: Author Tony Martins Ajaero

Home » Business ideas » Real Estate Industry » Shopping Mall

There are a wide range of reasons why shopping malls have excelled across the globe. One of those reasons is that it ensures that consumers can make choices from the wide assortment choices of merchandise spread across various categories.

However, it is important to note that shopping malls have grown past the stage of offering consumers just shopping platforms.

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• How Much Does It Cost to Start a Shopping Mall Business?

These days, you will find that shopping malls are where people love to spend their time. They now feature facilities such as game rooms and gaming arenas, movie theaters, multiplexes, and book shops. Many now include eateries encompassing fine dining restaurants, fast food corners, dessert points, or even coffee shops.

Steps to Design a Shopping Mall

Market Research and Feasibility Study

Same as with starting any other business, you need to first start by carrying out extensive market research to ensure you have a good insight into the local demographics and consumer behavior, in addition to the retail trends within the location where you intend to build the shopping mall. Evaluate and fully understand the economic viability of the project.

Take your time to carry out a feasibility study to assess the demand for a shopping mall while also taking into consideration factors such as population growth, income levels, and competition from shopping centers already in business.

Site Selection and Zoning Compliance

The proper market research will ensure you are knowledgeable enough to pinpoint the right location to build the shopping mall.

Choose the ideal location for your business based on the market research findings, accessibility, as well as zoning regulations. You have to ensure that the location or site you choose is well situated to guarantee easy transportation access.

Also, check to verify that the location is in line with zoning laws and regulations. Don’t forget to obtain all the requisite permits necessary for the development of the shopping mall.

Work with local authorities to fully comprehend and comply with all building codes, environmental requirements, as well as land use restrictions.

Architectural Design and Layout Planning

You should leverage the expertise of well-experienced architects and urban planners to design a visually alluring and functional layout. Take into account vital factors like traffic flow, parking facilities, and space utilization.

Also endeavor to come up with a comprehensive architectural plan that features the layout of stores, common areas, entertainment spaces, and amenities.

Don’t skip on creating an attractive environment that brings in customers while also boosting the overall shopping experience.

Tenant Mix and Leasing Strategy

It is also essential you take your time to come up with a diverse and mind-blowing tenant mix to ensure that you can attract attention while also satisfying the varying needs of your target audience. Take into consideration a balanced combination of anchor tenants, specialty shops, restaurants, and entertainment venues.

Don’t forget to put in place a strategic leasing strategy to draw in well-known retailers and guarantee a dynamic and vibrant atmosphere within the mall. Make sure to work out lease terms that are equally beneficial for both the mall management and tenants.

Technology Integration and Sustainability

When designing a shopping mall, it is very essential in this age that you incorporate technology to boost the general shopping experience.

Consider putting in place smart parking solutions, digital signage, as well as functional mobile apps to boost wayfinding and awareness about the shopping mall.

Also, leverage sustainable design principles to limit any impact the mall might have on the environment. Utilize energy-efficient lighting, green spaces, and eco-friendly construction materials.

Tips for Shopping Mall Floor Plan, Layout and Dimension

Understanding Target Audience and Demographics

Before designing the floor plan of the shopping mall, you must understand your intended audience as well as the demographics of the local community. This is very essential if you want the mall layout to be efficient enough to cater to the preferences and needs of shoppers.

For example, note that a shopping mall in an urban setting can possess some entirely different requirements especially when put in comparison with one in a suburban area.

Zoning for Maximum Engagement

Vone various areas within the mall to boost customer engagement. For instance, consider placing high-traffic retailers as well as popular brands close to the entry point of the mall to draw in substantial foot traffic.

You can also design themed zones or sections within the mall, which would include a dining court or entertainment area since they are known to boost the general shopping experience and motivate visitors to move around and explore.

Flexible Spaces for Retailers

Keep in mind that flexible retail spaces make it easy to accommodate a wide array of store sizes. This gives room for versatility especially when it comes to leasing, guaranteeing that the mall will draw in a vast array of retailers, from small boutiques to large department stores.

Also, seek ways to utilize modular elements in the floor plan because it will work to ensure easy adjustments and make it possible for the mall to align with evolving market demands.

Efficient Circulation and Traffic Flow

Make sure that all the pathways are big or adequate to fit in foot traffic, particularly during holidays or sales events. Don’t also forget to position escalators, elevators, as well as staircases to guarantee easy and premium accessibility as well as reduce any possible congestion. Keep in mind that a properly crafted layout ensures customers have a fun and productive shopping experience.

Adhering to Regulatory Standards and Accessibility

Make sure you fully understand local building codes and regulations. Don’t forget to consider accessibility for persons with disabilities by installing ramps, elevators, as well as designated rest areas.

Conforming with safety standards is very important, and this will most often necessitate the installation of emergency exits, lighting, and ventilation.

Aside from legal adherence, note that these stipulated requirements also work to bolster the overall safety and comfort of the shopping environment.

Factors to Consider When Designing a Shopping Mall

There are essential factors you will want to take into consideration when designing a shopping mall. Although the main intention is to design a place where people will be happy to visit, these factors will ensure you have a visually appealing mall that resonates with the interests of your target audience.

Demographic Analysis and Target Market

Carry out an extensive demographic analysis particularly since it will form the foundation of a successful design. Take your time to evaluate the age, income levels, and lifestyle, coupled with the preferences of the target market.

Be sure to understand the surrounding community as well as its evolving dynamics, ensuring that the mall’s design aligns appropriately with the needs and desires of the local population.

Retail Mix and Tenant Selection

In this line of business, the amount of success you can achieve will more or less depend on the mix of retailers and brands. Ensure to have a varying and well-curated retail mix that meets the numerous needs and interests of your consumer.

Don’t forget to take great care when choosing your tenants, and you will want to do this based on their brand reputation, market relevance, as well as their ability to attract foot traffic.

Having a good balance of anchor stores with niche boutiques ensures you have a functional shopping environment that will draw in a wide array of consumers.

Technology Integration and Omnichannel Experience

You can’t underestimate the need to inculcate and effectively use technology in shopping mall design and operations. Make sure that the infrastructure supports robust Wi-Fi connectivity, and seamless mobile payments, while also providing interactive elements including digital signage and augmented reality.

It is also possible to boost the shopping experience by leveraging an omnichannel approach that integrates online and offline retail, ensuring that consumers will have a seamless and fun shopping adventure.

Sustainability and Environmental Considerations

It is also important you adopt eco-friendly practices when designing a shopping mall. This can include energy-efficient lighting, and green spaces, coupled with sustainable materials in construction. Don’t forget to work on waste reduction and recycling initiatives.

Aside from its widely known appeal to environmentally conscious consumers, keep in mind that it ensures that the shopping mall conforms to broader sustainability goals.

Accessibility, Amenities, and Experience

A shopping mall without the right access is already dead on arrival. Owing to that, you must design the mall with easy navigation, ample parking, and numerous entry points.

Ensure to make available the right amenities, which would include comfortable seating areas, family-friendly spaces, as well as properly designed restrooms.

Ensure to design a welcoming atmosphere by leveraging attractive and visually pleasing landscaping, artwork, and architectural features.

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A free example of a business plan (pdf).

You will find business plan tailored to your project in our list of 250+ business plans

All our business plans do include a business plan

How can you create a compelling business plan without feeling overwhelmed?

In this article, we provide a free tool to do so. If you're looking for something more tailored to your specific project, feel free to browse our list of business plans, customized for over 200 different project types here .

We'll also address the following questions: What should be included in a business plan? How many pages should a business plan have? What is the typical cost to create a business plan? How frequently should a business plan be revised? What financial statements are needed in a business plan? How long does it usually take to write a business plan? What is the success rate for businesses with a formal business plan? How in-depth should the market analysis be in a business plan? How much funding do startups usually request in their business plans? How do you estimate the size of your target market in a business plan? How long does it generally take for a business to become profitable according to a business plan? How much equity should be offered to investors in a business plan?

The document available for as a free example is a business plan. It includes all the elements mentioned in this blog post. It is tailored specifically to the realities of a fruit juice bar. If you need a document for your own project, feel free to browse through our list of business plans .

If you have any questions, don't hesitate to contact us .

What Should Be Included in a Business Plan?

Here are the key elements that should be included, all of which you will find in our financial forecasts tailored to 200+ different business projects .

Our financial forecasts are comprehensive and will help you secure financing from the bank or investors.

Common Questions You May Have

Reading these articles might also interest you: - A free example of a business plan - A free example of a business blueprint - A free example of a 3-year business plan

What are the essential components of a business plan?

A business plan should include an executive summary, which provides a snapshot of your business and its goals.

It should also contain a market analysis, detailing your target market, competition, and market trends.

Additionally, financial projections, including income statements, cash flow statements, and balance sheets, are crucial.

How long should a business plan be?

The length of a business plan can vary, but it typically ranges from 20 to 40 pages .

For startups, a concise plan of 15 to 25 pages may be sufficient to cover all necessary details.

More complex businesses may require a more detailed plan, extending up to 50 pages or more.

What is the average cost to develop a business plan?

The cost to develop a business plan can range from $1,500 to $3,000 if you hire a professional consultant.

If you choose to do it yourself, the cost may be significantly lower, primarily involving your time and any research expenses.

Some high-end consulting firms may charge up to $10,000 for a comprehensive business plan.

How often should a business plan be updated?

A business plan should be reviewed and updated at least once a year to reflect changes in the market and business environment.

Significant changes in your business, such as new product launches or entering new markets, may necessitate more frequent updates.

Regular updates ensure that your business plan remains relevant and aligned with your strategic goals.

What financial projections are necessary in a business plan?

Financial projections should include an income statement, which shows your expected revenue and expenses over a specific period.

A cash flow statement is also essential, detailing the inflows and outflows of cash to ensure liquidity.

Additionally, a balance sheet provides a snapshot of your business's financial position, including assets, liabilities, and equity.

How much time does it take to draft a business plan?

Drafting a business plan can take anywhere from 20 to 100 hours depending on the complexity of the business and the level of detail required.

For a simple business, it may take around 20 to 40 hours to complete a comprehensive plan.

More complex businesses or those requiring extensive market research may take up to 100 hours or more.

What is the typical success rate of businesses with a formal business plan?

Businesses with a formal business plan have a success rate of around 30% higher than those without one.

Having a business plan helps in securing funding, as investors and lenders are more likely to support well-planned ventures.

It also provides a roadmap for growth and helps in identifying potential challenges and opportunities.

How detailed should the market analysis section be?

The market analysis should be detailed enough to demonstrate a thorough understanding of your target market and industry.

It should include data on market size, growth trends, customer demographics, and competitive landscape.

Providing specific statistics and insights can strengthen your business plan and make it more convincing to stakeholders.

What is the average funding amount that startups seek in their business plans?

Startups typically seek funding amounts ranging from $100,000 to $1 million in their business plans.

The exact amount depends on the nature of the business, its stage of development, and its capital requirements.

Early-stage startups may require less funding, while those in growth phases may seek higher amounts.

How do you determine the target market size in a business plan?

Determining the target market size involves analyzing industry reports, market research, and customer data.

Use both primary and secondary research methods to gather accurate and relevant information.

Quantify the market size by estimating the number of potential customers and their purchasing power.

What is the average time frame for achieving profitability as outlined in a business plan?

The average time frame for achieving profitability varies by industry but typically ranges from 1 to 3 years .

Startups in high-growth sectors may achieve profitability faster, while those in more traditional industries may take longer.

It's important to set realistic milestones and regularly review financial performance against projections.

How much equity should be offered to investors in a business plan?

The amount of equity offered to investors typically ranges from 10% to 30% of the business, depending on the funding amount and valuation.

Offering too much equity can dilute your ownership and control, so it's important to strike a balance.

Consult with financial advisors to determine a fair and attractive equity offer for potential investors.

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Online Shopping Store Business Plan

If you are planning to start a new online shopping website, the first thing you will need is a business plan. Use our online shopping website business plan example created using Upmetrics business plan software  to start writing your business plan in no time.

Before you start writing your business plan for your new online shopping website, spend as much time as you can reading through some examples of clothing, apparel, or online store business plans.

Reading some  sample business plans will give you a good idea of what you’re aiming for, and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample online shopping website business plan for you to get a good idea about how a perfect online shopping store business plan should look like and what details you will need to include in your stunning business plan.

Online Shopping Store Business Plan Outline

This sample online shopping website business plan includes the following sections:

• The company
• The window of opportunity
• Size of Target Market
• Financial Performance and Business Feasibility
• Ownership and the Top Management Team (TMT)
• What we are asking (“they ask and the offer”)
• Company History
• Mission and objectives
• Solution Features
• Market size and growth
• Our projected market share
• Target market
• Contribution of each revenue stream to revenue
• Underlying trends
• Competitive analysis
• SWOT analysis
• Competitive Advantages
• Sustainable Competitive Advantages
• Product design strategy
• Pricing strategy
• Promotion strategy
• Distribution strategy
• Company Structure and Ownership
• The Top Management Team
• Other Key Employees, Associates, and Relationships
• Production Plan
• Logistics of raw materials supply and inventory
• Logistics of Distribution and Finished Product Inventory
• Future products and services
• Future Geographic Markets
• R&D Facilities and Personnel
• Risk reduction strategies
• Sales, Net income, Net Cash flow
• Profit and Loss Projection for the first year
• Profit and Loss Projection – First Year to Fifth Year
• Cash Flow Projections
• Balance Sheet

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After getting started with Upmetrics , you can copy this online shopping store business plan example into your business plan and modify the required information and download your online shopping store business plan pdf and doc file . It’s the fastest and easiest way to start writing your business plan.

Download a sample online shopping store business plan

Need help writing your business plan from scratch? Here you go;  download our free online shopping store business plan pdf  to start.

It’s a modern business plan template specifically designed for your online shopping store business. Use the example business plan as a guide for writing your own.

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About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Shopping Mall Building Project Proposal Template

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• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Looking to build the shopping mall of your dreams? We've got you covered! ClickUp's Shopping Mall Building Project Proposal Template is the ultimate tool to streamline and simplify your project planning process.

With this template, you can:

• Create a comprehensive project proposal that covers all the crucial details, from concept to execution.
• Collaborate seamlessly with your team, contractors, and stakeholders to ensure everyone is on the same page.
• Keep track of timelines, budgets, and milestones to stay organized and deliver your project on time and within budget.

Don't let the complexity of building a shopping mall overwhelm you. With ClickUp's template, you'll have everything you need to bring your vision to life. Start building your dream mall today!

Benefits of Shopping Mall Building Project Proposal Template

The Shopping Mall Building Project Proposal Template offers a range of benefits for anyone involved in a mall construction project:

• Streamlines the proposal process, saving time and effort
• Provides a professional and polished document to present to stakeholders
• Ensures all necessary information is included, such as project scope, timeline, and budget
• Helps to clearly communicate the project vision and goals
• Increases the chances of securing funding and support for the project
• Facilitates collaboration and alignment among team members
• Enables easy customization to fit the specific needs of the project
• Simplifies project management by providing a clear roadmap for execution.

Main Elements of Shopping Mall Building Project Proposal Template

ClickUp's Shopping Mall Building Project Proposal template is the perfect tool to plan and execute your next construction project. Here are the main elements of this Whiteboard template:

• Custom Statuses: Track the progress of your project with two customizable statuses - Open and Complete - to ensure that every task is accounted for and completed on time.
• Custom Fields: Utilize custom fields to capture essential information about your project, such as budget, timeline, materials needed, and any other specific details that are crucial for successful execution.
• Custom Views: Access two different views to manage your project effectively. The Project Proposal view allows you to outline your project's scope, objectives, and deliverables, while the Getting Started Guide view provides a step-by-step plan to kickstart your project.
• Collaboration Tools: Collaborate seamlessly with your team by utilizing ClickUp's built-in features such as task comments, file attachments, and real-time collaboration to ensure everyone is on the same page throughout the project lifecycle.

How to Use Project Proposal for Building A Shopping Mall

If you're planning to propose a shopping mall building project, using a well-structured template can help you present your ideas effectively. Here are five steps to help you make the most of the Shopping Mall Building Project Proposal Template in ClickUp:

1. Develop a clear project overview

Start by providing an overview of the shopping mall building project. Explain the purpose, location, and target market for the mall. Include details about the size and design of the building, as well as any unique features or amenities that will set it apart from competitors.

Use the Docs feature in ClickUp to create a detailed project overview that highlights the key aspects of the proposal.

2. Outline the project timeline and milestones

Next, lay out a timeline for the project, including important milestones and deadlines. Break the project down into phases, such as site selection, design and planning, construction, and grand opening. Clearly define the duration and expected completion date for each phase.

Utilize the Gantt chart feature in ClickUp to create a visual representation of the project timeline and milestones.

3. Detail the financial aspects

Provide a comprehensive financial analysis of the shopping mall building project. Include estimated costs for land acquisition, construction, permits, marketing, and ongoing maintenance. Present a projected income statement, including anticipated revenue from rental income and other sources, as well as operating expenses.

Use the Table view in ClickUp to create a financial spreadsheet that outlines the costs, revenue projections, and potential return on investment.

4. Highlight the marketing and leasing strategy

Explain your marketing and leasing strategy to attract tenants and ensure the success of the shopping mall. Describe how you plan to promote the mall to potential retailers and anchor tenants. Outline any incentives or benefits you will offer to attract businesses to lease space in the mall.

Utilize the Board view in ClickUp to create a visual representation of the marketing and leasing strategy, including lists of potential tenants and their contact information.

5. Include supporting documents and visuals

Enhance your proposal by including supporting documents and visuals that provide additional context and support your ideas. This could include architectural renderings, site plans, market research data, and testimonials from potential tenants or industry experts.

Use the Docs and Whiteboards features in ClickUp to add supporting documents and visuals to your proposal, making it more engaging and persuasive.

By following these steps and using the Shopping Mall Building Project Proposal Template in ClickUp, you can create a compelling proposal that effectively communicates your vision for the project and increases your chances of success.

Get Started with ClickUp's Shopping Mall Building Project Proposal Template

Real estate developers can use this Shopping Mall Building Project Proposal Template to streamline the process of proposing and managing a shopping mall construction project.

First, hit “Get Free Solution” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to bring your shopping mall to life:

• Use the Project Proposal View to create a detailed proposal that outlines the scope, budget, and timeline of the project
• The Getting Started Guide View will provide you with a step-by-step plan on how to begin the construction process
• Organize tasks into two different statuses: Open and Complete, to keep track of progress
• Update statuses as you complete tasks to ensure everyone is up-to-date on the project's progress
• Assign team members to specific tasks and set due dates to maintain accountability
• Utilize Checklists to break down larger tasks into smaller, actionable steps
• Attach relevant documents and resources to each task for easy access
• Communicate with team members, stakeholders, and contractors through comments and @mentions
• Monitor and analyze tasks to ensure the project stays on schedule and within budget.

Related Templates

• Home Economics Project Proposal Template
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Mall Kiosk Business Plan [Free Download]

If you are reading this, you’re probably applying for a mall kiosk lease and need to convince mall management that having your kiosk business there is a great decision for them. Typically there’s two ways to go about it: first is to submit your mall kiosk business plan to formally introduce the business idea. Second is to send them a presentation to wow them using beautiful graphics and powerful captions. While the second way is gaining more acceptance these days, most malls still require a formal mall kiosk business plan.

( Spoiler alert : At the very end, we’re going to share our own mall kiosk business plan that opens doors for us, so you can use it as a starting point to get yourself a spot in your desired mall).

I know what you are thinking…”this sounds like a really tedious process!” But it doesn’t have to be — you don’t have to write a 25 page business plan like one you would write in business school to get the mall on board with your idea — trust us, no one wants to read 25 pages anyway!

While outlines of business plans are fairly similar across the board, the audience reading your business plan plays a crucial role and you should structure your document around them. A business plan for an investor is not the same as one for a bank — they will have a completely different emphasis. When you are writing a mall kiosk business plan, always remember that your primary reader is a leasing rep. They are most concerned about diversity and uniqueness of mall offerings, traffic and security.

In the era of an easy and convenient online e-commerce, malls are increasingly becoming more and more about experience, and less about transaction. It’s essential for the mall to keep their offerings diversified and products unique to attract more traffic to provide the best experience. It’s also important for them to be able to plan ahead and count on growth. So, think of it as if you were them. What would convince you to say “yes”? Then make sure to communicate that value by clearly and concisely stating it in your business plan. In short, your guiding questions for the mall kiosk business plan will look like this:

Executive Summary – What is your pitch? Should I read further?

Company Overview – What is your company vision?

Management Team – How experienced are you running this business?

Products and Services – How unique are your products and services? What problems do they solve?

Market Potential – Is it a growing industry? What makes your business a good fit for this mall?

Pricing Strategy – How are you going to pay for rent and make money?

Marketing Strategy – Are you going to drive traffic to the mall?

Retail Space Requirement – How does kiosk fit into the mall environment?

Sales Forecast – Do you have a long-term strategy?

Important Milestones – Do you have it all planned out?

As soon as you start focusing your energy on the elements most relevant to the mall management, things will pick up!

Are you looking for a real-world mall kiosk business plan example? Download our own, proven mall kiosk business plan to learn first hand how to craft a perfect pitch.[kiosk_busplan_880]

You might also like:

5 Secrets of the Best Mall Kiosk Business Ideas

How Your Mall Kiosk Can Stand Out From the Others

[Formula] What to Sell in a Mall Kiosk?

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