12 Aug Formulate an “implementable” business plan to start a new venture by addressing the items listed below.
Formulate an “implementable” business plan to start a new venture by addressing the
items listed below.
2. Summarize this information in a 5-7 page typewritten, double-spaced report.
3. Items to address in the business plan include:
(1) Business name, and why did you choose it?
(2) Business legal form (sole proprietorship, partnership, or corporation) and why did
you choose it?
(3) Briefly describe major product(s)/service(s) to be sold.
(4) How could you do market research to test consumer demand for your
product(s)/service(s)?
(5) Profile of prospective customer – Industrial/Business (i.e., sector, major
products/services, size, etc.) and/or Consumer (i.e., age, sex, income level, etc.)
(6) Target market (geographic area)?
(7) Chief competitors?
(8) How will you beat your competition?
(9) How will you market and/or advertise your product(s)/service(s)?
(10) List what you would need to start-up your business (i.e., equipment, supplies,
space, employees, etc.) and estimate your total start-up costs.
(11) What price would you sell your product(s)/service(s) for?
(12) List, describe, and estimate your total fixed costs for one year.
(13) Estimate the variable cost of producing one of your products or providing one of
your services.
(14) Calculate the break even point for your first year (give the formula you used and
show your calculations).
(15) Why are you qualified to run this business (special skills, experience, etc.)?
(16) Describe your leadership style, in response to a question from a prospective
employee or lender.
(17) Describe how you intend to motivate the people who work within your new
venture. Also, answer the question, Why would someone want to work for you?
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