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:
  1. Title Page
  2. Table of Contents
  3. Business Plan (5 to 7 pages)
  4. 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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