Assignment: Business Plan Project
It's now time to consider the finances associated with running your business. This part of the business plan asks you to consider the costs of doing business, such as salaries, rent, and utilities and complete key financial statements. For more information on this section, please see Writing a Business Plan in Course Materials.
• Estimate your revenues for one year. Include the following information with this estimate:
o How much will you charge for your product?
o How many products do you believe that you can sell in one year (or how many customers do you think your business can attract)?
o Multiply the price that you will charge by the number of products that you hope to sell or the amount you hope each customer will spend.
• Estimate what it will cost to do business for one year.
o Consider key expenses such as equipment, supplies, salaries, rent, utilities, and insurance.
• How much capital will you need to raise to launch your business?
• How will you finance your business?
o For example, will you seek out a bank loan? Borrow from friends? Sell stocks or bonds initially or as your business grows?
• Create a balance sheet and an income statement for your business.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.