"Business Plans?" Topic

Does anyone have a copy of a business plan for a miniature company?

Its the easy way to make £1,000,000.

You simply start with £10,000,000 and let nature take its course.

LOL!

Thanks Fred :(…….. like that joke hasn't been around forever.

Plan?

Do you mean a manufacturer or a retailer? Either way I'd imagine that most go something like this: 1. Get miniatures 2. Sell them.

All Business Plans today have to include phrases like "in an environmentally responsible manner", and "with respect to all genders and minorities".
Once you get past that, it is still pretty much "1. Get miniatures 2. Sell them."

You could take after the GW plan. Make minis really cheap, and make kids SELL THEIR SOULS FOR THEM!!!! BWWAAAHAHAHAHHA!

Or you could: 1. Get miniatures 2. Sell them.

On a serious note, try talking to Malamute. He just started up his business, and may have some pointers.

I know the guys from War Torn Worlds, and they made their terrain, and went around cons til someone took a good look at their product, and gave them a chance to distribute them. I am sure, its not the best way, but it worked for them.

Don't forget. If you're a retailer, it's buy for 60 cents and sell for a dollar. If you're a manufacturer, it's buy raw resource for 10 cents and sell for a dollar but give 40% discount to retailers. Both of these, mind you, need an exception for 20% for internet orders because all of these customers believe it's 20% cheaper to sell over the internet and anything less is a rip off. Oh, and don't forget the 10% off for the orders for people who know they can order over the internet and hold it against you. Finally, set your target sales to be right at the top level any manufacturer or retailer of your size might hit. Make sure that profit is just enough to pay your mortgage. And then plan to miss your target by 20% evey year. Tell your kids when you get evicted to blame it on the internet users. :)

we did have a plan, but i am dammed if i can remember what is was!
was it to make money or to spend a lot of time thinking i was makeing some money?
not sure i will have to ask my partner at the games club tonight and see what he says.

To be honest I highly doubt there are any business plans for starting a miniatures company floating around. If it is a company that you want to start and you need a plan to get financial backing from a bank or other source then your best bet is to write your own as every company is dfferent. There are plenty of articles online on how to write a business plan so I won't go into it here. You will also find a plethora of examples from other companies that you can easily convert to a miniatures company.
Just remember if you are planning to start your own business you probably won't be making a huge profit your first year. Most companies don't even turn a profit their first year and many more loose money. When drawing up your plans financials the best thing you can do for yourself is overestimate the costs you are dealing with and allow for things you didn't even realize you were going to need to spend money on. Many times people don't allow for unexpected costs and end up not having enough money and have to borrow more or pay out of pocket.
If it is a company you are starting then the best of luck to you. My only advice is don't take a hobby you love, turn it into a job, and then hate your hobby. I only say this because I have made that mistake in the past. Happy gaming and have a great day.

Since you've said miniatures, let's concentrate on that first.

Everyone loves eye candy, but in today's depressed economy you'll need to be careful how you step, so you're smart to ask for advice before getting started. You need to have a clear goal, and firm resolve to stick to a plan to get there using baby steps. Many folks have rushed into this business with high hopes and their eyes closed to the pitfalls waiting for them.

What role of your business do you plan upon filling? What skills do you bring to the table, or are you just looking to invest some capital? If all you have is money to invest, look elsewhere to turn a buck because you should expect to lose more than you gain in the first five years. Pick your genre, and time period, and perhaps a rule set to aim them towards. If someone is going to buy your miniatures they should have a game to use them in immediately. You can always write or publish rules for your minis later if you wish.

Can you: design, sculpt, mold, cast, market, sell, and fill orders? You might find it easier to be a part of an established company as an apprentice to help learn the business before striking out on your own.

- If you can design your models, then perhaps you can sculpt in wax or Milliput/epoxy before molding them. If not, then you're looking to be able to describe what you want to someone who you can hire to sculpt them for you (which can be very expensive.) Otherwise, there are plenty of sculptors on TMP asking for work or just selling their greens for less than a custom one.

- Do you already have the skills to make production molds? You'll need some pointers from professionals things that cannot be found in books, that you may or may not be able to get them to talk about. These folks are artists in their own right, and they have spent years learning their trade in an apprenticeship, so don't expect them to give away that knowledge. If you want to make resin miniatures, then the start up costs will be low. Metal spin casting will require at least $10,000.00 to buy your equipment, unless you can find someone desperate to leave the business and sell for less. You will also have to learn how to make the molds and cast your miniatures. Otherwise you can hire an established company to make your miniatures to start with. This will lower your initial costs to start with, but you need to be careful about your endgame with them. Unless you never intend upon learning these skills and bringing your products in-house, you may end up in the same boat that Mike Hardy was with his Cold Navy line (where all of the masters, models, and molds were owned exclusively by the production company.) You should have it in writing the disposition of your original masters, models, and any production molds are paid and owned by you should you decide to change where they are made in the future. This may drive the costs higher if you change manufacturers, but then you will not be in the same situation as the old AOG B-5 miniatures that Bruce keeps finding left over years after his license had lapsed.

- Once you have these two decisions decided, you should limit your initial line to a dozen figures to test the waters, with other designs waiting to act upon if your line takes off. Have regular new releases to hold your customer's interest, but don't make promises of releases until you have them lined up to go, since you'll have folks waiting until the next release to make a purchase. You should probably have a website with a cart to make purchases easier for your customers, and respond quickly to orders and inquiries. Remember that a reputation for good service and products can make or break an enterprise and that will take time to develop (maybe 5 years or more, really.) Keep a minimum and maximum system for each product, and watch the sales to keep in stock. Keep your prices competitive and steady, but I don't suggest having sales since all you will be doing is training your customers to wait until it is on sale to purchase what they want, and you won't get the profit you need to stay in business.

- If you want to market your line I would suggest banner ads on TMP, or other related websites to get your name and products out there. If you can paint your minis I would suggest having painted AND ink washed/brushed pics on your website for customers to see. Don't be surprised if you get small sample orders from folks to start with since most gamers are tactile customers (we need to hold it and see it up close to trust it.) If you can either run or sponsor games at any convention you can gain more interest (even better if you can sell from the game table) as well as get someone to carry your minis as a dealer. Don't be afraid to donate some figs as prizes since that will help get your products in people's hands. Keep your packaging simple and cheap since gamers look at the price more than the packaging. Barring those options, you should find someone to represent your products at conventions (big or small) to get them out and into a gamer's hands, because the Internet is a cruel mistress.

- Do all of these things part time, and don't expect to quit your day-job any time soon. The gaming business is one of the most volatile of retail businesses. In order to get picked up at a company like "Scale Creep", "The Warstore", or even your local brick-&-mortar store you will need to establish a sales record of what they should expect. If you approach a game distributor they will also want the same information, as well as a bigger discount, but may be able to provide a higher volume of sales to offset this.

These things are all suggested with you doing everything yourself, without adding any employees, wives, kids, relatives, neighborhood kids to help you fulfill any contractual commitments. It isn't an enterprise to take lightly, since it is as fragile as a house of cards and guaranteed to break your heart (along with your wallet.)

Good luck!

‘Drew
studiobergstrom.com

A generic one should do.

Many books have business plans in them, and there are probably some on-line as well.

If you want to impress the banker, follow the GW plan, e.g. make the item for 50 cents, and plan to sell it for $10.00.

The easiest thing to do is to get a copy of Business Plan Pro software.

Yes, it costs a couple hundred bucks, but it will step you through the process. By the time you are finished, you'll have much greater understanding of what you are about to do, and whether it is worth your time. It is well worth the money.

The basic package has scores of template companies, and you can pick a business similar to the one that you want to start. There nothing special about the miniatures business – the same basic rules apply to it, as apply to a coat hanger manufacturer.

Don't let the flip remarks put you off – spend a couple of weeks on a business plan, and then revise it over a couple of months.

One last thing – if the numbers don't work, believe them. Either revise your business plan, or do something else.

Biggest suggestion:

Don't forget overhead. Your utilities are overhead. Any employees you hire are overhead. Your factory (lease, taxes) is overhead. Your financing is overhead. So is YOUR salary. Don't forget your advertising costs, including trade promotions to retailers, design and maintenance on your website. Don't forget that you can't do it all yourself for very long if you're at all successful. Don't forget your inventory carrying costs.

I say all this because people forget that this is a niche business, and since so many companies are run by hobbyists, it's more competitive than it should be from a strict profitability standpoint. It's easy to have a big gross margin that, multiplied over low volume, sees you STILL losing money on overhead.