Assignment Problem: Final Business Plan should be approximately 5,000 words (15 pages; double-spaced). The assignment is marked out of 100 points.
Part 1. Cover Letter
- This is a one-page letter that serves to introduce your business and business plan. Please address it to me at the College of the Rockies.
- Write your letter from the perspective of prospective business owner(s) looking for business financing.
Part 2. Executive Summary
- This is a 1-page summary highlighting key information from your business plan.
- The purpose of the Executive Summary is to provide readers with an overview of your business.
- A person reading your Executive Summary should have a good understanding of your business after reading it.
- The Executive Summary should cover the key areas below.
Part 3. Company/ Business Overview
- Provide a description of the business you are in. Include your company name, history, size, type of operation (home-based or commercial), legal structure (sole proprietorship, partnership, incorporated company) and location.
- Include your vision for the business and a mission statement.
Part 4. Product or Service Information
- Describe the nature of your product or service, its key features and benefits, and its competitive advantages.
- Include a paragraph to introduce and describe your products and services and a table with the above information.
- Provide sufficient detail.
Part 5. Management Plan
- Outline the ownership and management structure of your business.
- Include an organization chart.
- Specify the division of responsibilities or a summary paragraph describing the skills and abilities brought by each owner, and the management team for the business.
Part 6. Market Research and Analysis
- Describes the nature and size of the industry in which you will operate, growth potential, industry profit margins and costs, current trends, and future prospects for your product or service.
- Identify your potential customers and target market(s). Include primary, secondary and tertiary markets.
- SWOT analysis
Part 7. Competitive Analysis
- Provide a table summarizing your top three competitors' including strengths and weaknesses.
- Include your company in the table including how you measure up.
- Provide narrative on how you compare the competition and highlight where opportunities exist.
Part 8. Marketing and Promotion Plan
- Explain your marketing strategy.
- Include a positioning statement for your products and services.
- Include a promotion plan explaining the promotion mix you will use to promote your products (e.g. advertising, trade shows, sales promotion, special events, out-of-home advertising, online marketing) and why you have chosen the various tools you have.
- Include a GANTT chart indicating your promotion plan for the first year.
- Include the pricing, sales and distribution strategy for your product or service.
Part 9. Operations Plan - including Human Resources
- Describe where you will run your business (home, office, warehouse, other).
- List licences, permits and insurance you may need, along with materials, equipment, furniture, fixtures and suppliers.
- Describe your plan for capacity in production, inventory and staffing, if applicable.
Part 10. Financial Plan
- Analyze how much it will cost to start-up and run your business and how much you will earn. Include where you intend to get financing and what the funds will be used for. Provide essential financial statements you will need to get loans or investors.
- Include a projected cash flow statement, balance sheet, and income statement.
- Provide these statements for the first year of operation.
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