If you are looking for a sample social networking website business plan template, here is a business plan for starting a social media network business and free feasibility study example you can use.
SOCIAL NETWORKING SITE BUSINESS PLAN SAMPLE AND FEASIBILITY STUDY REPORT FORMAT
Social networking sites are places or platforms where people anywhere could meet, connect with old and new friends, and date. It is also a place where entrepreneurs could advertise and market their products and services. Some of the leading social networking sites include Facebook, Twitter, Instagram, etc.
If you are already set to write a business plan for your social networking website, then you will find this simple social network business plan very useful in guiding you write a good business plan for your business.
BUSINESS NAME: Singles Mingle, LLC.
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Sales Forecast
Singles Mingle, LLC is a social network website which will be based in the United States of America, but will be open to users from various countries around the world. We have been able to secure a very good facility in a good location in New York, United states. Singles Mingle, LLC will be very concerned with providing a number of products and services to satisfy its users.
As part of the preparation for launching the website, the owner has been able to raise a total of US$200,000 towards the start-up budget of US$300,000 required for launching the business. The other part will be secured from the owner’s bank as soft loan.
Our Products and Services
Singles Mingle, LLC is a social network website which has been launched with the aim of making profits and particularly connecting singles. We are aware of the top social network websites in the United States and around the globe, and we are very set to favourably compete with them and take our place. The following are our products and services offering:
- Casual social networks
- Dating sites for single people
- Specialty services
- Blogging social networks
- Search Engine Optimization (SEO)
- Entertainment services
We have one vision in the industry which is very simple. Our vision is to build and nurture a standard social network website which will be very focused in being among the leading social network websites in the whole world, not just in the United States of America.
Our mission in the industry is to launch a website for single people where they will be able to meet, connect and date. We want to make sure our users are very happy with the services which we have to offer. And lastly, we want to be able to favourably compete with other top social network websites in the world.
Singles Mingle, LLC is a social network site which will not take with levity anything that will help in achieving the business vision. As stated earlier, our business vision is to be among the leading social network sites in the world.
We will not be able to accomplish this vision if we do not do the needful, especially as it concerns our business structure. This is why we will take very seriously the recruitment process of our business. We have resolved to only hire qualified, honest, and hardworking individuals to fill up the following positions in our business:
- Chief Executive Officer
- Human Resources and Admin Manager
- Creative Director
- Sales and Marketing Executives
- Client Service Executive
- Online Traffic Generator / Content Creator
- Web designer
It is no longer news that social network sites has over the years, been experiencing an exponential increase in the number of users throughout the world. Facebook alone has more than 1 billion worldwide users. This indicates that social networking is the new trend.
Having done our research carefully, we have found the following to make up our target market:
- Single males and females
- Financial institutions such as banks, and insurance companies.
- Corporate organizations
- Blue Chips companies
- Research and Development Companies
- Real Estate Owners , Developers, and contractors
- Celebrities and public figures
- Entrepreneurs and Start-ups
- Religious Organizations
Sales and Marketing Strategy
We have done our thorough research on the market and the industry, and what we found out is that there is a very stiff competition in the industry. Bearing this in mind, we have been able to source for sales and marketing experts who have helped us to devise ways on how to take hold of the market:
- We will begin by making sure we introduce our business by sending introductory emails and sms to as many email addresses and phone numbers we could get.
- We will create adverts for our social networking website on several business magazines, radio and TV stations, etc.
- We will always attend seminars, events, conferences, so as to promote our social network website to prospective customers.
- We will also make good use of the internet to promote our social network website.
Source of Start-up Budget
US$300,000 is the amount which we have found out to be the budget for starting up our social network website business. It will be a medium-scale yet standard social network website launched in the United States. The website will be owned and run by Jamie Wong.
Jamie Wong has been able to secure a total of US$200,000 from his savings and investments towards the start-up budget. The other part, US$100,000, will be obtained by sourcing for a soft loan from the owner’s bank.
This is our sales projection for the first three years after we start up our social network website. We have been able to arrive at this sales projection based on the data we were able to get regarding the industry. This sales projection has not paid any attention to any economic downturn which could occur in the industry, in the future.
First Fiscal Year US$250,000
Second Fiscal Year US$550,000
Third Fiscal Year US$800,000
This business plan sample is for a social network website business. ‘Singles Mingle, LLC’ is the name of the business. The website will be operating in the United States of America, but it will be available to users from all parts of the world.