Question: You may create a unique product or service idea, or you can choose an existing company or business that you will model after. Develop a
- You may create a unique product or service idea, or you can choose an existing company or business that you will model after.
- Develop a written business plan, which shall include the following:
- Executive Summary
- About the Company
- Market Analysis
- Product/Service
- Strategy: Marketing & Sales strategy
- Financial Projection & Break-Point Analysis
- Funding Request
- Conclusion
- Your project will be completed in a standard term paper fashion including:
- Title Page
- Table of Contents
- Business Plan (5 to 7 pages)
- Works sited (at least 3 sources)
- You will turn in your final written business plan via Canvas by May 12th via Canvas.
ADDENDUM: ISSUES TO CONSIDER FOR YOUR BUSINESS PLAN
- What is your company called?
- What is your product or service called?
- Slogan?
- Owners names
- Detailed plan of product/service
- Business logo
- Business philosophy/purpose/Mission Statement
- Ex) McDonald's - "To provide the fast food customer food prepared in the same high-quality manner world-wide that is tasty, reasonably-priced & delivered consistently in a low-key decor and friendly atmosphere."
- Ex) Courtyard by Marriott - "To provide economy and quality minded travelers with a premier, moderate priced lodging facility which is consistently perceived as clean, comfortable, well-maintained, and attractive, staffed by friendly, attentive and efficient people"
- How much would it cost to manufacture this product or service?
- Office space/warehouse/factory rental
- Utility costs (electricity/water)
- Product costs
- Labor
- Advertising
- How much would you sell it for? Would people pay this price? How many buyers do you estimate? (be sure this is REALISTIC)
- What do you expect your profits to be (Revenue Production Expenses)?
- Who are your target consumers?
- Region/state?
- Age?
- Gender?
- Income level/social class?
- Who is your competition, and why are you better?
- What startup costs would you incur? (How much money do you want from the sharks, and how much ownership of your company would you be willing to offer?)
- Where do you see your company in five, ten or twenty years?
- Why should the sharks invest in your company? How will you be using their investment money?
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