Delivering on potential : Market entry business plan development

You have identified a market opportunity, you have identified your sources of financing, you have the product know-how, what you need now is a plan to enter a new market to enable you to successfully deliver on the market's potential. You need to know the extent of the resources you will require, the likely response of the market and the competition. Once you decide to engage the market with all your resources, you will need a comprehensive plan for execution to plan for contingencies, to know the extent of your resources and to refer to when there are unforeseen difficulties.

CKA has developed a highly successful business plan methodology that has served diverse companies in their quest to map the market potential to commercial success.

Your instincts tell you that there's market potential, you need to know the size of the market and the right product configuration and marketing plan to fit the local conditions.	You are ready to move, you have the goal in sight, you are confident of your assets. You need to make sure that when you engage the plan you have your resources aligned with the market. You need a comprehensive plan to align all your assets, finances and people.	Looking ahead, you need to plan for contingencies, opportunities and change. You need a roadmap that is clear, with the ability to adapt if conditions changes.

Framework

CKA Consulting uses a Feasibility - Response - Technology - Success framework to gauge and manage risk in opening new markets, implementing new technologies, and staffing with the right resources:

What is the business case? Where do the market opportunities lie? How fit are you to take on the challenge? What are your goals? When must you reach them?	What does the market value? How can you leverage existing resources? What resources need to be brought in? What are the financial requirements?	Can you measure success? How will you know if you are succeeding? What must go right to ensure your business plan succeeds?	What technologies will you need? How can they be deployed efficiently?

Who Benefits from Execution Consulting

• Private equity firms driving growth of new acquisitions in new markets
• Franchise owners seeking to roll out their franchise into new markets
• Franchise bidders seeking to win a franchise through bidding competitively
• SME owners who are making their first moves into new countries or investing in new product and service markets

Case Studies of Success

foodbuzz - Sri Lankan investors successfully win major Singapore-based food and beverage franchise

foodbuzz, a Sri Lankan FnB investment manager, engaged CKA's services to prepare a comprehensive business plan to present to regional bakery chain leader breadTalk, based in Singapore, in order to win the Sri Lankan national franchise ownership rights, and prepare for the first 3 years of business expansion in Sri Lanka. Within a few weeks, the CKA team had performed a strategic analysis of the Sri Lankan market, using the consumption patterns for bakery products in Sri Lanka as their strategic pivot, rather than expected patterns supplied by the franchise owner from other countries.

Using the consumption patterns model, CKA identified the most valuable pricing model to successfully differentiate between foodbuzz's new product, and the incumbent players, from a price and product configuration point of view. CKA determined the most likely to succeed locations for the franchise's outlets and planned the operational costs and revenues model for the subsequent three years.Bottom line : by identifying that the pivot of the marketing and strategic plan revolved around analysing consumer patterns and cultural influences on food consumption, CKA prepared the most compelling and thorough business plan, taking advantage of world class strategic frameworks and marketing and segmentation techniques, delivering the franchise to foodbuzz.

Straits Wine Company - International investors bring Malaysian beverage chain to Singapore

The Singapore Straits Wine company engaged CKA consultants to prepare the expansion business plan for the denise wine chain, a market leader in Malaysia, into the Singapore market. By performing an exhaustive analysis of wine consumption patterns in Singapore, identifying the potential to alter the perception of wine as an exclusive drink for foreigners and the wealthy elite to one fitting into Singaporean consumption habits through appropriate marketing and location choice, CKA consultants produced the expansion business plan that became in the words of a senior executive, "my bible".

Business Plan Questions You Need To Ask

Basic So you think people are gonna love this? Is this a market gap, or a zeitgeist? Market driven business, or product driven business? How can I know if there is a market out there? Who is my first customer? Who is really my customer? Is my customer an average Joe or a geek? Have you sized yourself? Product How "new" is the product? How easy is it to start using my product? Product stickiness? I wish I had thought of that one Can I reshape the product so it sells itself?

Competition Are you sufficiently innovative to distinguish yourself from any competition? How does the entry of competition scupper your plans? How will you establish your brand? How flexible is your product and/or plan? Execution Can I prove the concept? When will I start? Been there done that? What do I not know? What must go right? What cannot go wrong? The appropriate use of ego Can I really do this well? Marketing Preparing the market Use of PR

Funding What's my approach? Numbers versus execution Matching interests and expectations between entrepreneur and investor Ideas are cheaper than free Angel investors are a dying breed An investor will prefer a novice to start with a stationwagon, not a sportscar Mountain of cash Investment schedule Risks and Contingencies Where are the greatest assumptions? What are my weaknesses? Do I have the killer instinct? Management What is my role in the founding team? Can I sell? Do I have the killer instinct? Who is the cleverest person in the company?