Business Plan

Learning Goal: I’m working on a business report and need an explanation and answer to help me learn.

Write a business plan on a business you’d like to start.

UNIT LEARNING OUTCOMES

• Unit 3 ULO’s: Explain the purpose and objectives of business plans, Identify available sources of assistance in preparing a business plan, Describe small business marketing, Discuss the nature of the marketing research process, Describe the five key factors in locating a brick-and-mortar startup, Understand the potential benefits of locating a startup on the internet.
• Unit 4 ULO’s: Determine asset requirements, evaluate financial sources, and estimate cash flows for a new venture, Describe how the nature of a firm affects its financing sources, Evaluate the choice between debt financing and equity financing, Identify the typical sources of financing used at the outset of a new venture.
• Unit 5 ULO’s: Discuss the significance of providing extraordinary customer service, Describe the techniques for creating a customer profile, Define Customer Relationship Management.
• Unit 6 ULO’s: Apply break-even analysis and markup pricing, Identify specific price strategies, explain the benefits of credit, identify advertising options for a small business, discuss the use of sales promotional tools.
• Unit 7 ULO’s can apply: Describe the potential of small firms as global enterprises, identify and compare strategy options for global businesses, explain the challenges that global enterprises face, discuss the nature of the operations process for both products and services.
• Unit 8 ULO’s: Define risk and explain the nature of risk, classify the different types of business risk, identify the steps in the risk management process and explain how risk management can be used in small companies.

DIRECTION:

• Your plan must include all of the areas listed below.
• Ensure your report meets all of the following criteria
• A minimum of 10 full length pages – the title page and table of contents are not included in the page count
• Double-spaced
• Times New Roman, 12 pt font size
• Upload your report as a Word document or .rtf file on this page.

Items needed for your Business Plan:

• Cover Page- Company name, address, phone number, date, prepared, disclamer (if needed).
• Table of Contents- Listing key sections of business plan.
• Executive Summary- 1-3 pages overview of key points intended to motivate reader.
• Company Description- Company objective, nature of business, primary product or services, its current status (buyout or expansion) the legal form of organization.
• Industry, Target Customer, and Competitor Analysis- Key characteristics of the industry.
• Product/Service Plan- why people will buy product based on unique features.
• Marketing Plan- method to attract buyers, type of sales force, how to control inventory, and pricing policies.
• Operations and Development Plan- operations method, location, and space for equipment, and purchasing procedures.
• Management Team- Description of management team, outside investors/ plans for recruiting and training employees.
• Critical Risks (CLO Risk Management)- Any known risk of running business.
• Offering- How much capital entrepreneur needs and how money will be used ( to attract investors).
• Exit Strategy (CLO Exit Strategy)- Ways an investor and entrepreneur may be able to harvest their business investment.
• Financial Plan (CLO Financial Statements)- Contemplated sources of financin, any historical financial statements, if avaliable,pro forma financial statementsfor 3 to 5 years including income statement, balance sheets, cash flow statements, balance sheet, cash flow statement, and cash budgets.
• Appendix of Supporting Documents- Used to enhance reader’s understanding of the plan