Are you about starting a sales representative company? If YES, here is a complete sample sales representative business plan template & feasibility report you can use for FREE.
A sales rep is a sales professional who work independently, outside of and separate from any associated business offices. A Sales rep often sells a number of product lines, from a number of different businesses.
Starting this business is not an easy task, but to start; you need to become self-employed, which will give you the chance to every aspect of both sales and business operations, which may involve marketing, customer service, order processing and accounting.
Sales Representative is also known as Manufacturers Representatives or plain Rep. A successful sales representative represents eight to 10 complementary products that are not direct threats or competitors.
It is now becoming an obligation for manufacturers both inside and outside the united states to make use of outside sales forces in place of employing in-house sales personnel, because using a rep workforce can be or rather is more efficient and better cost-effective way to sell products.
Notwithstanding that the demand in this industry is always on the high aspect, getting into this industry is not a child’s play. It is well noted in the industry that it will take you nothing less than one to two years to build a stock of enough products to represent that will make you a good living.
The cost of starting this business is not as high as one may expect, but you should note that having an equipped home office and a good vehicle are all that you need to start. But like many salespeople, the potential earnings are good.
Sales reps of our modern age are doing more than selling than the ones of the past years, which is why experience is very paramount. Some reps also train Agency workforce in the use of the products they sell, offsetting a cost their customers would otherwise carry.
Some reps who sell to wholesalers make joint sales calls with the wholesaler’s in-house sales personnel, training them to sell the rep’s products.
Also many sales reps sell industrial products to manufacturers and end users such as processing plants, HMOs and government agencies. Getting products to market can be done by working trade shows for your industry where both manufacturers and customers can be found.
The name of our business is Lego Sales Consult. We at Lego Sales Consultant, hope to provide representative services to targeted business environments in Atlanta, Georgia.
We believe that writing down our business plan will help us organise our business and also seek to generate a significant increase in Agency sales and profits from the delivery of product marketing, product advertising, retainer consulting, project consulting, market research and industrial analysis, feasibility studies, and strategic analysis and reporting services.
We believe that we have the potential to become the lead figure in the industry, and there is also a probability that our target customer will completely reject the Advertising and marketing but we understand that it is part of the industry and only consistency can make us successful.
With our adequate research and understanding of the industry, we have created effective strategies that will ensure that our agency will reach the greatest number of potential customers and serve our clients properly. We will also design, build, test and deploy the methods we deem for or necessary in other to market the products of our clients.
We also hope to keep our clients in the known by reporting the progress of the campaign in real-time to provide our customers maximum flexibility. We will also take note of all necessary actions and corrections after every exercise in order to grow our business.
Our business plan has been created on the basis of three years of market research. All the data concludes the size and growth of the market and geographical segments, customer needs, perception, and buying behaviour trends have been on the upswing, and are expected to continue in this trend for the next three years.
We at Lego Sales Consultant’s believe that we are well prepared to fill the vacuum in the marketing niche, and will be the very best in the industry.
We at Lego Sales Consultants hope to specialize in successful sales and marketing campaigns. The owners of Lego Sales Consultants, Nathaniel Clayton and Ephraim Joseph have over 12 years of experience as sales agent between them.
Nathaniel Clayton use to be a senior sales consultant at Promerit Advertising agency. Ephraim Joseph was a sales and marketing director for Liberty Business LLC. Both have been friends for a very long time and they share the same vision and goals.
We at Lego Sales Consultant’s plan to offer expertise in the services we plan to provide to the businesses in Atlanta, Georgia.
We believe that with the much experience we have in this field. Lego Sales Consultants will be able to sell and package its services in various ways that will give our prospective clients the opportunity to decide the sort of services they want from us. These include:
Our Business Structure
We believe that our founding workforce will depend solely on our founders themselves, with little back-up from a team of six, but as the business grows, Lego Sales Consultants will employ a team that includes15workers that will work under a president and two vice-presidents.
Our management philosophy at Lego Sales Consultants will be solely based on responsibility and mutual respect. We believe that individuals who will work at Lego Sales Consultants will choose to stay with us due to our business environment that encourages “C4A,” which is:
The three main management divisions at Lego Sales Consultants are Sales and Marketing, Operations, and Internal Business Management. We believe that the departments managed by the Sales and Marketing division will be: marketing, sales, products and services, research and development, and public relations operations.
The departments taken care of by the Internal Business Management division are: accounting, administration, and human resources development. Here are the workforces we hope to start with;
Agency President
Vice president
Sales Manager/Supervisor
Admin and HR Manager
Marketing and Sales Executive
Accountant
Sales reps
Front Desk Officer
We at Lego Sales Consultants are taking our time to make sure we cover all aspects of preparation even before we open our doors. We understand the need for a SWOT Analysis. SWOT analysis is a process that identifies the strengths, weaknesses, opportunities and threats of an organization.
Specifically, SWOT is a basic, analytical framework that assesses what an organization can and cannot do, as well as its potential opportunities and threats. A SWOT analysis takes information from an environmental analysis and separates it into internal strengths and weaknesses, as well as its external opportunities and threats. So it is plain why we need to do this, that’s if we want to be successful.
We employed the services of a well known firm known for its unadulterated analysis and results, and we believe they did all necessary research to come up with the analysis presented to us. Outlined below is the summary of the analysis done for us;
Our SWOT Analysis, which was very extensive and detailed analysed that our strength as a sales representative agency lies with the following factors: our selling and marketing power, our Excellence in fulfilling the promise, our goal of developing visibility to generate new business leads, our ability to create multiple opportunities from a single line of expertise, high quality service and customer satisfaction, and our awesome management team.
Our SWOT Analysis also noted that our weaknesses will come from the fact that being a new agency; we will find it hard to get manufacturers or businesses to give us the job of representing them. Also customers might find it hard to trust our sales persons. We do not see all this as weaknesses but as a chance to create a better business.
Just like we must have explained earlier, businesses are now into employing external sales reps to help them market their products. They believe and it is true that these processes are more cost effective and more reliant than having in house sales and marketing department. We believe this and more is the more reason why the industry is very lucrative and massive.
Our SWOT Analysis noted that the threats we are likely to face may include unfavourable government policies, global economic downturn, new competitors, getting products and networking. We believe that Lego Sales Consultants is very much prepared and ready to take anything thrown to it from both external and internal forces.
It cannot be denied those customers’ needs are becoming more diverse and often change from day to day, pushing heavily on the resources and capabilities of sales organizations. Some of these businesses depend on low-cost sales channels, such as online and telesales, for smaller customers and on high-cost channels, such as face-to-face sales, for key accounts.
But that doesn’t mean that customers increasingly do not want simple, fast, and inexpensive transactions, on the one hand, and highly complex solutions designed by experienced (and often global) teams, on the other.
It is also important to note that before the drastic recession, many businesses in many industries were constructing new channels to reduce the price of servicing smaller customers. Remote interactions, however, have stayed rare for bigger managed accounts, whose need for “face time” was always beyond challenge.
But cost pressures coming from the recession have moved many B2B vendors to re-evaluate that stance, with surprising results. Patrons of businesses are becoming much more comfortable acquiring the information they need from sales resources over the telephone or through Web conferences and video conferences.
Also, the classic use of granular customer data and predictive analytics is no more the domain solely of B2C sellers such as Amazon.com. B2B sales teams now believe that the uncontrolled adoption of these techniques has raised the volume and quality of sales leads and improved conversion rates.
We at Lego Sales Consultants believe we have unique offering of services that will appeal to a large customer base. We at Lego Sales Consultants hope to concentrate on big corporations because we believe that they provide the maximum profit potential. The groups of potential clients and patrons for Lego Sales Consultants are, in order of importance:
Our competitive advantage
Within our business niche at Lego Sales Consultants, we believe that we do not have any competitors, but instead prospective business partners. This we are confident about because the agency will give its patrons solutions as well as value creations.
We also know and understand that our services have been and will always be looked for by companies ranging from high-level management firms to international market research companies. Businesses who want to market their products, boost their brand awareness, create a corporate identity, business development, channel development, and in-house market research will come knocking at our door to deliver the following value creations:
Consulting/Market Researchers/Traders/Suppliers
Technology Providers/Manufacturers:
New business models (outsourcing alliances)
We at Lego Sales Consultants plan to offer expertise in the services we provide to our patrons. With much experience in our field, we believe that Lego Sales Consultants will be able to sell and package our services in various ways that allows our prospective clients to choose their preferred benefit(s).
Our key fulfillment and delivery at Lego Sales Consultants will be provided by the principals of the business. Our core value is professional expertise provided by a combination of experience, smart and hard work, discipline, improvements, and education (in that order). We plan to gain income by offering the following services;
Our strategy at Lego Sales Consultants will focus first on maintaining the identity of the high-end buyer who appreciates quality service, but is also very demanding regarding value creations. We at Lego Sales Consultants will customize our services for each specific client. This approach we believe is called “individual sales strategy” because customization permits clients to participate in producing exactly what they want.
Our sales forecast at Lego Sales Consultants assumes that the yearly change in costs or prices will average 20%, which is a reasonable assumption for a new successful business. We at Lego Sales Consultants are expecting to increase sales modestly in 2017 and 2018, with sales growth accelerating in 2019-2022.
It is our expectation that the agency will double its starting sales within five years. Outlined below is our sales forecast for three, and it is worthwhile to note that these projections was done based on what is obtainable in the industry.
We at Lego Sales Consultants believe that our marketing strategies will rely on the same basic principles as consumer marketing, but will surely be executed in a unique way. While consumers choose products based not only on price but on popularity, status, and other emotional triggers, we believe that our patrons will make decisions on price and profit potential alone.
We also understand that discovering new ways to build relationships through social media is currently a hot topic in the B2B marketing world. It is also well known that social media platforms have opened up two way conversations between businesses. We at Lego Sales Consultants believe that B2B marketing involves building valuable relationships to guarantee lasting customers — an important goal for any company,
We all know that the business to business market is the largest of all the markets, and exceeds the consumer market in dollar value. It is also very common that B2B marketing is largely employed by companies that make products consumers have no practical use for, such as steel.
However, it is also used by companies selling products and services bought by consumers and other businesses alike. We hope to market Lego Sales Consultants as huge business with a direct goal to take over the industry. We hope to do the following;
We at Lego Sales Consultants understand our clients’ needs even before we decide to implement any marketing or advertising tactic. We understand that in consumer marketing, an effective advertisement can be blasted out over wide channels, and a percentage of consumers will be driven to buy the product.
But since B2B marketing is so much more specialized, we understand that many businesses run the risk of alienating their specific prospective candidates if they do not pay close attention to their needs before tailoring their services to those needs.
This is why we understand that our marketing plan must be focused in delivery and broad in application. This means that while consumer marketing can advertise very specifically (one mass-consumed product advertised through print, television commercials and the Internet) to a wide audience, our marketing plan at Lego Sales Consultants cannot.
Instead, we need to brand Lego Sales Consultants very broadly (through email, corporate image and technical specifications) to a very specific customer. We plan to promote our business through the following ways;
Our major plan at Lego Sales Consultants is to make use of the extensive network of contacts both Nathaniel and Ephraim have with businesses all around United States. We plan to make use of our internal expertise to launch an astounding strategy directed at a select group of its target customers. We at Lego Sales Consultants have close and effective relationships with our end-users, vendors (suppliers and sub-contractors), and even competitors.
We at Lego Sales Consultants hope to keep the prices of our services and commissions below the average market rate for our clients for the main time. We also hope to provide them with loans coupled with low interest rates that will bring them closer to the firm, and we hope to move our prices a little higher when we have achieved a substantial corporate identity in the micro lending and mortgage industry.
We plan to provide various a wide varieties of payment options to suit our clients at Lego Sales Consultants. We understand the need and the diverse countenances of people, and the way they understand and process things differently, and we tend to provide a suitable platform that will suit all and sundry equally. Listed below are the payment options that we will make available to Lego Sales Consultants.
With reference to the above platforms, we have chosen a well renowned bank in the United States to aid in our business. We have chosen and opened a corporate current account with Capital one financial Corporation. Our bank account numbers will be made available in website and promotional materials to clients who may want to make cash deposit and it will also be given explicitly to clients on request.
The founders of Lego Sales Consultants use to be well known sales agents for large multinational businesses, procurement, and construction contracting services and, at the same time, are experienced market researchers in global markets. They both decided after extensive research to start Lego Sales Consultants. Outlined below is the cost analysis of starting Lego Sales Consultants;
From the detailed cost analysis above, we need $627,350 to start Lego Sales Consultants. We have put plans together to raise all necessary funds for Lego Sales Consultants.
Generating Funding / Start-up Capital for Lego Sales Consultants
Lego Sales Consultants is a well licensed and registered sales agency which is capitalized by two principal investors, Nathaniel and Ephraim. They are the founders and financiers of the business and hope to remain so for now, with hope to accept partners at a very ripe and mature stage in the business. Due to less constraint in financing Lego Sales Consultants, we have outlined the few ways we can acknowledge funding and start up capital. These was may include;
Note: We at Lego Sales Consultants have been able to generate an enormous $700,000 from our two principal investors, who aligned and individually prune out $350,000 each. We believe that the amount is substantially enough to run the business for the first three months, which by then we expect to sustain the business by the cash and incentives generated from our business proceedings.
We at Lego Sales Consultants plan to combine unparalleled quality with a cost-effective package to create a consulting and sales service with many competitive advantages. We also know that our seasoned management are qualified for multiple services, such as: business development, market development, market intelligence, industrial sectors analysis, and channel development.
We at Lego Sales Consultants hope to provide a large range of services to anyone from a high-level marketing firm to a home-based business owner; clients can always count on quick, accurate services from Lego Sales Consultants.
We are Lego Sales Consultants will design, build, test and deploy all possible strategies to achieve our aim and create profits for our clients. We also plan to report the progress of the campaign in real-time to provide our customers maximum flexibility.
We at Lego Sales Consultants understand that consultant costs (in US$/man-hour) in Atlanta. It is worthwhile to note that this analysis is based on the assumptions that the local senior consultants’ and senior engineers’ salaries have increased by 70%.
This is because the United States skilled manpower market offers one biggest man-hour cost in the world, even with the estimated average increasing 20% per year. To take advantage of this situation, Lego Sales Consultants plan to make use of United States resources for serving both global and regional markets. We also plan to make our employees comfortable and always keep our clients in the known.
Checklist/Milestone
