Introduction A business plan is a written document that describes your business, its objectives and strategies, the market you are targeting and your financial forecast. It is important to have a business plan because it helps you set realistic goals, secure external funding, measure your success, clarify operational requirements and establish reasonable financial forecasts. Preparing your plan will also help you focus on how to operate your new business and give it the best chance forsuccess. Securing financial assistance to start your new business will be directly related to the strength of your business plan. To be considered a viable candidate to receive funds from a financial institutions or investors, you must demonstrate that you understand every aspect of your business, and its ability to generate profit. A business plan is more than just something to show lenders and investors; it is also necessary to help you plan for the growth and progress of your business. Your businesss success can depend on your plans for the future. Listed below are examples of questions to ask you when writing your business plan: How will I generate a profit?

How will I run the business if sales are low or if profits aredown?

Who is my competition, and how will you co-exist?

Who is my target market?

Question You are required to write a Business Plan Report and you are advised to follow the below given outline. Product/service idea Business Plan Report (40%) To make the best impression, a business plan should follow a convention structure, such as the outline shown below. Cover page Table of contents I. Executive Summary A succinct highlight of the overall plan- include ownership structure, business address, product/service, the management team and strategy andstrengths. II. Industry Analysis An overview of the industry, including consideration of the competition, industry trends, and regulatory bodies. III. Definition of the Business Explanation of the business concept, the current offering and the projected growth. IV. Purpose of the Business Plan Dominant reason for the preparation of the businessplan. V. Business Feasibility Analysis of the demand (include highlights of the findings of the market feasibility study), risk (include business and market risks), environmental impact. VI. Justification of the Business Economic, social and personal benefits. VII. Organisation and Management Vision and mission statement, corporate goals, managerial competence, organisation structure and organisation chart. VIII. Operational Considerations Location, technical requirements (explain key business processes), equipment required (state whether it is a manufacturing or retail business), suppliers of raw materials, utilities, opening hours etc. IX. Marketing Arrangements Target market, definition of the product or service, pricing, distributionand promotion. X. Financial Consideration Source of financing, capital cost, pre-operating expenses, working capital requirements, cash budget over three years (estimation of the cash inflows and outflows). XI. Appendices Tools used in feasibility study, profile of management team, prospective suppliers and clients, samples of product design, labels, promotional campaigns, floor plan and legal documents (where possible) XII. References Bibliography, credits, acknowledgement