Business plan feedback

 After researching businesses that were involved in the same market as my business is, I discovered a local business that was incredibly successful. Unfortunately - due to the pandemic - the doors of 3D Creations were forced to close. However, Ian Westbrook, founder of 3D Creations, carries on his work on a much smaller scale by designing props for his customers.

I contacted Mr Westbrook via email to ask for feedback on my business plan which documents the most vital information about my business idea. Follows the list of the improvements he mentioned that I could do.



Some of these improvements are useful, while others aren't applicable to my business. For example, I won't use the normal advertising methods that many larger corporations use. I will build an online portfolio of my art that consists of both pieces that are to do with my business and the art that I produce outside of a business setting. Having active social medias that showcase all my work is incredibly useful as research has shown that over half the worlds population now has a social media account. [1]


Another thing that isn't applicable for me is the cost of renting buildings for the business. My aim is to keep the company as small as I can so that I would be able to manage running it just by myself. There is a suitable room that I would be able to use for the business within my own home, and so I wouldn't then burden myself with extra unneeded expenses such as renting a building.


Something that is incredibly useful to include in my business plan, however, is the cost of Public Liability insurance. If a customer has an allergic reaction after applying one of my prosthetics (even after I will consult with the customer during the design period to see if they have any allergies to anything), I will need the insurance to ensure that I am covered financially. Without this insurance for my business, I could become financially crippled if there were a legal incident.


Another thing that I have added to my business plan is the cost of a mobile bill. I will need a mobile contract that allows me unlimited minutes so that I will be able to be in constant contact with my customers. I'd rather prefer speaking over the phone to my customers rather than texting so that there will be direct contact.


Here is how my business plan developed following Mr Westbrook's advice.



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