Primary Objective: Create a successful business plan and convince potential investors to take interest in your business.

STEP 1: What Type of Business (5 pts)

You are an entrepreneur who needs to evaluate the local business area and start a business. You will need to come up with a business of your choice. You can choose one of the options below:

1. You can start a small business of your choice.
2. You can franchise (McDonalds, etc.) You would need to do additional research for this one.
3. You can choose to create a new product.
4. You can provide a service.

Some possible Business Ideas:

Snow Removal, House cleaning, Bed and Breakfast, Alpaca Farm, Lawn Mowing, Landscaping, computer service, hot dog stand, window washing, car washing, pressure washing houses or decks, music lessons, photographer, videographer for weddings, pet grooming, kennel service, paintball service, moving company, clothing boutique, music store, cookie or bakery, grocery shopping service, car cleaning, E-business, shoe store, inflatable rentals or shop, coffee shop or restaurant or any others that you and your group would be qualified to do.

In the space below, explain which option you are choosing and WHY.

STEP 2: Business Structure and Model (5 pts)

Next, you will use information presented in class to determine which business structure would be the best fit for your business.

There are three types of Business Structures: Sole Proprietor, Partnership, Corporation

In the space below, determine which Business Structure works best for your business and explain WHY?

I choose ___________ BECAUSE

In the space below, determine which Business Model you will choose for your business:

Brick-and-Mortar, Subscription, E-commerce, Franchise, Freemium, etc.

I choose ___________ BECAUSE

STEP 3: The Executive Summary (10 pts)

Provide a brief synopsis of the key points and strengths included in the plan. Should be enthusiastic, professional, complete, and concise. The summary gives the reader a clear understanding of the business and its potential. It should be clear and short in order to entice the potential investors or the group targeted to further explore the details of the business plan. Answer each of these questions in paragraph form in the box below.

1. What is your product/service (explain your ide?
2. Why is your business needed?
3. What are the trends supporting the idea that your business would be successful?
4. What is the future of your product/service in the area?

5. Why should an investor give you money for this business?

STEP 4: Competition Analysis (7 pts)

First, determine how much it will cost to produce your product/service (you will need to research the cost of the materials it takes to produce your product/service) $_____________

Then, determine how much you will retail (sell) your product/service for $____________

Compare your product/service with those of your competitors.

Your prices	Competitors Price	2nd Competitors price

STEP 5: Marketing Plan (8 pts)

Demonstrates how the business product or service will be marketed and sold. Includes both strategic and tactical elements of the marketing and sales approach.

Question	Answer
1) WHO is your target customer? Explain why. How will you aim your advertising at your target customer?
2) What is your marketing/advertisement plan? What type of media? *Extra Credit for providing a visual example of advertisement.* Up to 10 pts
3) Which advertising strategy from CC will you be using: Product Placement Branding Luxuries as Necessities Celebrity Endorsements