Since 1915, Deluxe has recognized the vital role that small business plays in our communities, from job creation to business development. We will initially sell our product through popular e-commerce platforms and through our website — followed by brick-and-mortar outlets including Lowe’s, Best Buy, Home Depot, and other major big box retailers. Writing a business plan for a startup can sometimes seem overwhelming. Insurance companies can also leverage our technology to adjust homeowners insurance policy pricing. When you’re writing your business plan for the first time, things can get… intimidating. The Founder of Girlboss Media talks about the ups and downs of starting her first company, NastyGal, and how she has been able to productize her unique attitude and sense of style. Sample Business Plan for Acme Management Technology 1.0 Executive Summary By focusing on its strengths, its key customers , and the company's underlying core values, Acme Management Technology will increase sales to more than $10 million in three years, while also improving the gross margin on sales and cash management and working capital . If it’s a small company with just you and maybe one or two business partners, this should be easy. So, with that in mind, here are four sample business plans from the Startups community that we think really stand out from the crowd. It can help convince investors or lenders to finance your business. We are in the process of building relationships with notable industry leaders, influencers, and development teams in the home automation sector. The last section of the template, “Refining Your Plan,” explains ways you may need to modify your plan for specific purposes, such as getting a bank loan, or for specific industries, such as retail or manufacturing. With much of the heavy lifting already completed, Culina has laid the groundwork for rapid expansion going forward. Writing a business plan should force logic and discipline into a business. Kent is a Carnegie Mellon graduate with over 10 years of executive leadership experience in industrial design and engineering. Businesses alone consume 12-20% of the total US energy supply on food production, processing, manufacturing, distribution, and preparation. Start planning. ⇾ 20% Operational, The kitchen is the heart of the home. With this round of funding, our objective is to ramp up hardware manufacturing, improve software UX and UI, expand our sales and marketing efforts, and fulfill pre-orders in time for the 2017 holiday season. ✓ 46% of house fires caused by cooking equipment The plan should define specific business objectives and goals with general parameters to guide the organization. Business/Industry Overview. Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. Evidence of the enormous impact home automation tech has had in the consumer space can be seen in the enormous adoption of products like Nest and Amazon Echo. Culina is priced below our competitors’ products while delivering superior functionality and value. However, since it’s a startup business, your business plan might be different from other free business plans. With decades in the industrial design space, Kent knew he had the knowledge and the industry contacts to set out to improve upon home automation devices for the kitchen with a solution that not only made homes safer, but also cut down on energy consumption and the associated costs. Setup and configuration is simple, users are able to be up and running out of the box in approximately 10 minutes, and software updates are deployed over-the-air. We are also exploring SEO and SEM. We’ve also established a scalable business model and robust product pipeline that will prime us for widespread expansion in the days ahead. Read more. Users can also monitor energy consumption on a weekly basis right from the Culina App. Powered by machine learning artificial intelligence, our Intelligent Culina Response System learns user habits every time someone uses an appliance connected to one of our Smart Plugs. Think about business planning as … To make homes smarter, more connected, and safer for families while helping them save money and conserve energy through the power of affordable, automated technology. However, some users have noted uneven sound quality and limited “skills” capabilities. Give the main points in the executive summary and include all … Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly. Startup Business Plan Template. The evolution of the Internet of Things has enabled consumers to digitally connect and remotely control everything from their door locks to their thermostat to their garage opener and essentially everything else in between. But depending on how you’re planning to scale the company, it’s … We have secured a total of $5 million in funding among angel investors, founder capital, friends and family, and VCs. EXECUTIVE SUMMARY [COMPANY NAME] c/o [NAME] [ADDRESS] [PHONE] [EMAIL] PandaTip: No matter the business you are running, the Executive Summary portion of your plan is the single most important part of the document. Founder: Kent McClure It’s enough to make even a stalwart startup founder throw in the towel before they’ve even begun. Not only does remote operation over appliances provide convenience, it also serves to prevent kitchen-related hazards. Martin Frink | CTO ⇾ 25% Key Hires A startup business should show monthly projections for the first year of business, along with quarterly information for the next two years. Nest was acquired by Google on January 14, 2014 by Google for $3.2 billion and still operates under its own brand identity. this Business Plan is disclosed hereby acknowledges the proprietary and confidential nature of inform ation and agrees that such party, as well as an y party which he/she or it Commercial kitchens consume a huge amount of energy — roughly 2.5 times more per square foot than any other commercial space, according to the EPA. With Culina, investors have the opportunity to get in on the ground floor with a company that’s positioned to grow into a leading innovator in the home automation and IoT space. The Culina App allows users to remotely monitor the status of and control all devices connected to our Smart Plugs. The company was founded in 2010 by former Apple engineers Tony Fadell and Matt Rogers and is headquartered in Palo Alto, California. Now that we have the rules of writing a business plan out of the way, let’s dive into the elements that you’ll include in it.The rest of this article will delve into the specifics of what you should include in your business plan, what you should skip, the critical financial projections, and links to additional resources that can help jump-start your plan.Remember, your business plan is a tool to help you build a better business, not just a homework assignment. Describe the overall nature of the industry, including sales and other … Prior to joining Culina, Margaret spent seven years as CFO for a publicly-traded mobile tech company headquartered in Silicon Valley. Marketing Plan. This comprehensive fill-in-the-blank business plan template is designed to guide entrepreneurs through the process of building a startup business plan. For these reasons, the Deluxe Corporation Foundation provides financial support to nonprofits that help entrepreneurs and small business owners succeed. When a device reaches its energy limit, Culina alerts users through their smartphone and is built with the ability to power down the device automatically if the user chooses. ← back. Not only do kitchens represent a primary source of the household energy consumption, but also a primary source of house fires. Homeowners receive alerts whenever unusual activity is in progress such as a stovetop being left on for too long or during an unusual time of day. This template comes with a customizable cover page and table of contents, and each section includes sample content that you can modify to fit the needs of your business. The Amazon Echo retails for $99 for Amazon Prime members and $170 for everyone else. Our immediate customer base growing by the day and we have successfully proven that this is a product that consumers want and are enthusiastic about. Target Audience: Homeowners; property managers; insurance providers. The home automation market and Internet of Things (IoT) space is a thriving industry with growth expected to exceed $50 billion by 2020. Startups is the world's largest startup platform, helping over 1 million startup companies find customers, funding, mentors, and world-class education. complete guide to writing your business plan. We are directly targeting three specific target populations for our product: Homeowners are our end users and will benefit the most from our product. Primary competitors for Culina include other companies that are currently operating in the home automation and Internet of Things space, such as Nest Labs, Amazon Echo, and Wallflower Labs. Culina will initially monetize from hardware sales. 12+ Tech Startup Business Plan Examples – PDF, Word, Apple Pages Many of us have this wild dream of becoming a hot-shot CEO with a cup of overpriced coffee on one hand and the latest smartphone on the other, but to get there, you still need to start fresh. For more than 100 years, Deluxe Corporation has sought to create the tools that help shape our economy. We design an advanced smart hub technology that enables users to interconnect and remotely monitor all of their cooking devices and kitchen appliances through a single user-friendly platform. We are also in advanced-stage partnership discussions with a number of major name insurance providers. real-time insight into their energy consumption by aggregating data for all kitchen appliances connected to our Smart Plugs while also delivering the preventative intelligence necessary to reduce kitchen-related disasters. A startup business plan consists of an internal roadmap elaborating on the most important aspects of your business (i.e., the background, the production, operational, organizational, and financial aspects). Built on cloud computing, machine-to-machine communication, and information-gathering sensors, the Internet of Things market is rapidly making more and more commonplace devices “smarter.” Factor in the increasing prevalence of smartphones and tablets, and home automation and IoT products are now becoming much easier to use and significantly more affordable than they have ever been before. The financial statements are a key part of this plan. These might be contracts, leases, purchase orders, intellectual property, key managers’ resumes, market research data or anything that supports assumptions or statements made in the plan. Then, contact your local SCORE mentor to review and refine your plan either online or in person. It’s a quintessential gathering place where families and friends come together to break bread, be merry, and make memories. Culina maintains a unique competitive advantage over other existing home automation and IoT products in several categories. Start your own business plan. We’re committed to leading the charge in creating the ultimate smart kitchen for homeowners all around the world. Our biggest differentiators include: Culina makes it possible to gain an across-the-board view from an entire network of interconnected devices. The Appendices include documents that supplement information in the body of the plan. Lucky for you — we’ve created a complete guide to writing your business plan. A Microsoft business plan template can help get you started. After Nest’s acquisition, the company has underperformed in sales and fallen below the expectations that Google set for them when it purchased the startup. Following a step-by-step business plan template, in this case, helps. Our first generation product is market-ready and primed for commercial manufacturing. 5. “Technology”, in this context, has come to mean electronics-based technology. 1.9 Management Our management is expected to use resources wisely, operate profitably, pay debts, and abide by laws and regulations. We’ve also gained major traction among consumers and investors alike, with 10,000 pre-ordered units sold and $5 million in capital secured to date. A Sample IT Tech Startup Business Plan Template 1. So, you need to plan, set goals, and above all, know your business plan. Simply attach the Culina Smart Plug to the appliance’s electrical, plug it into the wall, download the Culina app, connect, and configure. Copyright © 2021 SCORE Association, www.score.org, Business Planning & Financial Statements Template Gallery, An Easier Way to Prepare Your Business Plan -The Business Model Canvas, Need more information? In addition to notifying users if an appliance is left on by accident or if it detects a potential hazard, Culina also reminds users anytime regular maintenance is required. In an effort to reduce CO2 emissions, some governments are offering incentives to business who can cut back on their carbon footprint. She currently manages Culina’s financial risks and handles all financial planning, record-keeping, and reporting. What kind of wording should you use? But the kitchen is also where tragedy often strikes due to misuse of appliances. Culina offers increased owner ROI, occupant satisfaction, significantly lower operational and maintenance costs. Our team has already finished the product development and design phase, with 3 prototype iterations completed, and we are now ready to begin mass manufacturing. We are currently seeking a $15M Series B capital investment that will give us the financial flexibility to achieve these goals. The problem you’re solving. Complete the Business Plan Template for a Startup Business to create a working business plan for your startup. This will be an essential factor in helping us continue to gain market share nationally. Most importantly, it serves as a roadmap guiding the launch and growth of your new business. Your business plan can look as polished and professional as this sample plan. A business plan could give her a chance to step back from the normal flow and look at ways to develop and improve the business. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA. Click on the below links to see fully formatted versions or continue reading for the text-only version of Culina’s. 4. Toaster: 55 to 250 watts Why Invest in Culina? The executive summary is, without a doubt, the most critical element of your … It’s not about the number of pages or style of the cover. Laying out a detailed, step-by-step plan gives you a blueprint you can refer to during the startup process and helps you maintain your momentum. Founded: 2013 Next is for you to share the internal hierarchy of your startup … We’re looking forward to working with you in accelerating Culina’s growth to become a dominant player in the booming global home automation and IoT industry. Culina Tech is the next leading name in home automation and IoT. Users simply say her name and then ask a question or give a command. Our content marketing efforts aim to influence and persuade readers without having to rely solely on conventional direct selling tactics. The template includes easy-to-follow instructions for completing each section of the business plan, questions to help you think through each aspect, and corresponding fillable worksheet/s for key sections. He is responsible for Culina’s technical vision, heading up all aspects of our technological development, strategic direction, development, and future growth. Many homeowners are simply unaware of the large amount of energy consumed by many small household kitchen appliances: Dishwasher: 133 watts Television: 1,2… For a simple business plan example, imagine a woman making jewelry at home and selling it at a local flea market on the weekend. Culina is perfectly positioned to capitalize on a major multi-billion dollar market opportunity to provide greater protection, actionable intelligence, lower energy consumption, and more cost savings to the millions of homes in the US. Start-up Sample Business Plan Page 4. After you complete the 11 worksheets, you will have a working business plan for your startup to show your SCORE mentor. Kent McClure | Founder & CEO Our technology provides homeowners with immediate, Several of our restaurant & food service clients have graciously provided permission for us to share their plans with you. B. More fires start in the kitchen than any other room in the home, and household cooking appliances frequently account for the billions of dollars in fire-related insurance claims every year. The number one cause of house fires and house fire injuries is the stove. Industry Overview. People who work at … Download SCORE’s easy-to-use business planning, finance, sales, marketing and management templates to help you plan for a new business startup or grow your existing business. This represents an estimated 300% increase from today’s market of $12.5 billion. To make the process easier and more manageable, this template will guide you step-by-step through writing it. To become the leading provider of IoT technology for kitchen appliances on a global scale with application across both residential and commercial properties. Image Source. Read more, The Business Model Canvas (BMC) is a one-page business plan that allows you to test and validate the key parts of your business in a manageable format. But, while it’s nice to be guided step-by-step, it can also really help to have concrete examples when you’re approaching creating something for the first time. Headquarters: San Francisco, CA It's fast and easy, with LivePlan. For homeowners, Culina represents safety, peace of mind, increased convenience, and an economically-wise investment that pays for itself over time. Our technology is easy to use and doesn’t require any technical-savvy. Any remaining funds will be allocated as operating capital. Our 2nd generation product will represent a revenue-generating and energy-saving solution for commercial kitchens where equipment is frequently selected based on low capital cost with little regard to whole life-cycle cost and the resulting negative energy consumption. To make the process easier and more manageable, this template will guide you step-by-step through writing it. Sources and Applications of Funding Explain how the business is being financed and planned uses for new equity investment and debt. Include Financial Statements in Your Business Plan. Our product will sell for $149 MSRP with approximately 40% profit margin. Start your own e-commerce start-up business plan. Not only can users conserve money in energy consumption bills with Culina, but new insurance guidelines also provide significant discounts for homeowners who deploy smart technologies in their homes. In early 2013, Culina was born. The challenge with reducing energy consumption in commercial kitchens is that it’s neither practical nor affordable to replace all kitchen equipment or redesign entire work spaces. A traditional business plan isn't right for everyone. Describe your company's history (if any) or a startup information. Capital Equipment List: List of all business equipment the company owns or plans to purchase, including cost and current value. This will provide Culina with new revenue streams and will offer a valuable, tech-driven solution for businesses. A US-based contract manufacturer has been secured and is ready to begin production with the capacity to produce around 50K units per month as we scale. Image Source. See our business plan sample to see why investors love reading a ThinkLions plan! Entrepreneurs are by nature positive, confident, and can-do people. 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