Local Community Website Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Local Community Website Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Local Community Website business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
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People still go to local community websites given that they focus specifically on the needs of a specific local or regional market. These businesses are relatively immune from negative changes in the economy given that they are able to serve advertisements not only for local businesses, but national level businesses as well. Once a local community website establishes a broad base of users there are numerous ways in which to monetize these websites so that they remain profitable and cash flow positive at all times.
The startup cost associated with a new local community website is extremely low. These businesses can be started for as little as $5,000 or as much is $25,000 depending on the amount of marketing needed in order to drive traffic to these websites. It should be noted that one of the more difficult aspects of developing a local community website is the fact that these businesses do face competition from online community portals that exist on FaceBook as well as other social media platforms. However, by offering specific information about events and other services that are not found on social media platforms – these businesses can become highly profitable. Additionally, many local community websites often embrace FaceBook, Twitter, Instagram, and other communities in order to ensure that they are made as highly visible as possible. The recurring streams of revenue generated by advertising make these very lucrative small businesses that operate in an online capacity.
A local community website business plan should be developed if the entrepreneur requires capital from a third-party investor. It should be immediately noted that most local community websites are almost always started with capital from the owner or investors given the fact that these businesses do not have a substantial tangible asset base and they do not make good candidates for business loans or business lines of credit. This business plan should feature a three year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. As it pertains to industry research, local community websites typically fall into general information websites. These businesses generate about $75 billion a year in advertising revenues.
A local community website SWOT analysis is frequently developed as well in conjunction with both a business plan and marketing plan. As it relates to strengths, a local community website is able to draw on numerous people on a local and regional basis to a website on a daily basis. The gross margins generated from advertising are very high and these businesses were able to immediately generate revenues once they establish operations. The startup costs are considered to be minimal and the mop barriers to entry are very low.
For weaknesses, these businesses do face uphill competition from companies like FaceBook. However, and as stated above – local community websites will continue to remain popular given that more and more people are focusing on local businesses rather than using large-scale online portals.
For opportunities, many local community websites will seek to establish ongoing relationships with local and regional businesses as it relates to sponsorship. This can create highly recurring streams of revenue given that advertisements are billed on a monthly basis.
Outside of the development of additional social media platforms, local community websites do not really face any threats on an ongoing basis.
A local community website marketing plan also needs to be developed with a substantial focus on search engine optimization and social media marketing. These businesses almost exclusively use social media platforms in order to generate their initial user base. This can be a costly and time intensive process, but the results can be phenomenal if the entrepreneur has a complete understanding of how social media marketing works. In the event that the entrepreneur does not have a firm grasp on these marketing methodologies – a third-party marketing and firm can be hired to manage this aspect of the business’s operations. However, given their local nature – is typically the entrepreneur that almost always manages all aspects of marketing given that this is typically about 60% of the overall operation of a local community website.
People are to continue to want to know what local events are occurring, what restaurants and bars are in an area, and other information regarding tourist activities. As such, local community websites will continue to be one of the types of small business e-commerce driven platforms that can remain profitable at all times. As it pertains to e-commerce, this is typically done as a relates to the sales of advertisements to local and regional businesses.