BUSINESS PLAN ASSIGNMENT 1. The Business Plan project (for a new business) is to be completed and

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BUSINESS PLAN ASSIGNMENT

1. The Business Plan project (for a new business) is to be completed and submitted on Day 15. Most days will allow time for in class work plan. However, it will still be necessary to do other work on it. The assignment is worth 30% of the course grade.

2. The Business Plan must be based on a new business you would like to establish. It should be detailed and comprehensive. You may use the sample plans provided in the Entrepreneurship textbook and in the MyEntrepreneurshipLab. You will also be provided access to the LivePlan online software for creating the business plan. Your new business could be a service, retail, or manufacturing function. It could combine 2 of these or even all 3 but remember, KEEP YOUR BUSINESS SMALL AND SIMPLE.

Instructions for your Business Plan Assignment

1. The plan’s maximum is 25-40 (depending on the size of the business) double-spaced pages with no more than 8-10 pages of exhibits or Appendix.

2. The plan must include an Executive summary, Table of Contents, Mission, Vision and Culture, Company Summary, Market Analysis Summary, Strategy and Implementation Summary, Management and Operations Summary, Financial Plan, Funding Request and Exit Strategy. Appendices including: Sales Forecast, Personnel Plan, General Assumptions, Pro Forma Profit and Loss, Pro Forma Cash flow, Pro Forma Balance Sheet, Resumes, Fact Sheet and complete list of references.

3. It should include a detailed marketing plan that identifies the principal target market(s), its size, location and all demographic and psychographic characteristics. Students should also identify and growth trends in the market and provide appropriate statistical information to support that conclusion. Detailed sections are required on the needs filled by the product or service offering, market research conducted, pricing methods and the proposed promotional programs and distribution system.

4. The plan should also include a detailed financial plan linked to the requirements and objectives of the marketing plan. This section must cover the business’ first five years and include monthly statements (income, cash flow and balance sheet for Year 1, quarterly statements for Year 2 and annual statements for Year 3-5. Optimistic and pessimistic forecasts should be included as well.

5. Financial methods and the scheduled amounts.

6. An exit or harvest strategy for the business.

7. Identification of the key attributes and skills brought to the business by each team member who will be active in the business and description of how these will be of benefit to the business.

8. Delineation of a medium to long-term growth strategy for the business, i.e., expansion and diversification plans.

9. A brief description of the human resources, ethical and social policies of the business.

Students will be required to make a 40-minute presentation of their plan. Students will be evaluated on their creativity, enthusiasm, use of audio-visual aids (PowerPoint is strongly recommended) and public speaking skills.