make a business plan regarding the picture below following the instructions given. A business plan is a
Question:
make a business plan regarding the picture below following the instructions given.
A business plan is a document describing a business. its products or services. how it earns (or will earn) money, its leadership and staffing, its financing, its operations model, and many other details essential to its success. You as a group are required to develop a business plan with the novel business idea (can a product or service) by analyzing the gap in the market. The outcome of this assignment/project is a sound business plan on the basis of which you can have initial funding from investors/government/banks etc.
The business plan should include the following components:
1. Intriduction of the Business - What does your business do? e.g. What do you sell, and why is it
ditterent?
1.1.Your business structure (Are you a sole proprietorship, general partnership, limited
Dartersnio. or incorporatea company.
2.Your business model
- 1.3. Your industry
- 1.4. Your business's vision, mission, and value proposition
- 1.5. Background information on your business or its history
- 1.6. Business obiectives, both short and long term
- 1.7. Your team, including
- 1.8. key personnel (Core team) and their salaries
Pertorm a market anaivsis
- 2.1 Define your Target market - Who do you sell to?
- 2.2 Analyze the environmental factors
- 2.3 Conduct SWOT Analysis
- 2.4 Define your business strategy
Outline management and organization
LITORONTe
3.1 Develop and use organizational chart to show your company's internal structure,
including the roles. responsibilities. and relationships between people in vour chart.
An overview of product or service development
Marketing Plan
- 5.1 Proposed marketing strategy - How do you plan on reaching your customers?
- 5.2 Define your customers' charecteristics for example where they live, their age range, their level of education, some common behavior patterns, how they spend their free time, where they work,what technology they use, how much they earn, where they're commonly employed, their values, belies, or opinions etc
- 5.3 Perform customer/market segmentation
- 5.4 Marketing tools to be used
- 5.5 Marketing Mix:
- 5.1.1. Price. How much do your products cost, and why have you made that
decision? - 5.1.2. Product. What are you selling and how do you differentiate it in the market?
5.1.3. Promotion. How will you get your products in front of your ideal
customer?
5.1.4. Place. Where will you sell your products?
Logistics and operations plan
- 6.1. Suppliers. Where do you get the raw materials you need for production, or where are your products produced?
- 6.2. Production. Will you make, manufacture, wholesale, or dropship your products?
How long does it take to produce your products and get them shipped to you? How will vou handle a busy season or an unexpected spike in demand?
6.3. Facilities. Where will you and any team members work? Do you plan to have a physical retail space? If yes, where?
- 6.4. Equipment. What tools and technology do you require to be up and running? This includes everything from computers to lightbulbs and everything in between.
- 6.5.Shipping and fulfillment. Will you be handling all the fulfillment tasks in-house, or will you use a third-party fulfillment partner?
6.6. Inventory. How much will you Keep on hand, and where will it be stored? How will you ship it to partners it required, and how will you approach inventory management?
Projected Financial Plan
7.1. Current and projected financial state - What do you currently earn in revenue?
Income statement
- 7.2. Projected Income statement, cash flow statement and balance sheet
- 7.3. The ask - How much money are you asking for?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill