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JCK 5: Answers to Your Top FAQs on Retailer Business Plans

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By Martha C. White
This story appears in the May 2012 issue of JCK magazine
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JCK 5: Answers to Your Top FAQs on Retailer Business Plans
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1. How long should the plan be? D&H Sustainable Jewelers’ Shawn Higgins says his is about 30 pages on top of supplementary financial data. Andrea Hill of StrategyWerx says the ones she puts together for clients generally clock in at 45 pages.

2. What span of time should it cover? Expert opinions differ, but the general consensus is between three and five years. Premier Consulting Services’ Ron Bill suggests throwing one or two long-term goals in there.

3. How often should you update it? Every three to four years, says Hill, and check in yearly to make sure the goals and strategies still work for you.

4. How long should it take you to create? This isn’t a weekend project. Higgins estimates that he and his partner spent about six months putting together D&H’s business plan.

5. How often should you refer to it? “It’s literally on my mind daily,” says De Boscq Jewelry’s Aaron Capdeboscq.

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