Project Homework
Business Plans are used extensively in teaching business. The case study research strategy provides the opportunity to develop an in-depth understanding of an organization or event-data can be collected from multiple sources (for example, company websites, interviews, or published articles).
In this project you will select, develop, and analyze an in-depth business plan for a brand new sole proprietorship business. The purpose of this project is to utilize concepts to create a business plan of a new organization of your choosing. The Course Project will build on the skills developed by your studies in business.
The Course Project provides an opportunity for you to practice and apply specific strategic management skills learned in this course. The knowledge learned will help you to further your professional or personal goals. The project is divided in three parts.
Choose a company that is new and can be a sole proprietorship in your own local neighborhood. This will be a business you can start with minimal capital and the intent is to own and operate it indefinitely so selling the business is not a consideration.
Here is a list of business types you may choose from. If you want to do some other business, be sure to get permission from your professor first. The business must be a local service. It may not be selling a specific product or an app of any sort except as add on or support of the business. These may not be franchises but new small businesses and brands only.
i. Food Truck
ii. Food Delivery Service
iii. Coffee Shop
iv. Sandwich Shop
v. Art Gallery
vi. Pet Store
vii. Small Restaurant
viii. Landscaping and Lawn Service
ix. Custom T-shirts
x. Language Lessons
xi. Homemade Chocolate and Candy
xii. House Cleaning
xiii. Small Jewelry Store
xiv. Homemade Chocolate and Candy Store
xv. Ride Sharing Service
xvi. Pet Boarding and Day Care Facility
xvii. Day Care for Kids Facility
xviii. Handyman Service
xix. Garage Door Installation
xx. Pet Grooming Shop
xxi. Donut/Bagel Shop
xxii. Junk Disposal Service
xxiii. Ice Cream Store.
Course Project
I. Cover page
II. Table of contents
III. Section I: Business Concept
IV. Section II: Industry Analysis
V. Section III: Regulation and Legal Review
VI. Section IV: Competitive Analysis
Project: Business Concept & Industry Analysis
The Course Project homework is the integration of all the sections including the Introduction and Sections I through IV. Homework should be completely integrated and presented in a logical order, written professionally and free of spelling and grammar errors, and updated with any changes that occurred along the way, including corrections and advice provided by your professor.
Section I: Business Concept
Describe in overview and in detail what you are offering to the market. What does it "do"? What are the benefits to your customers? How do the customers now accomplish the same task? How is your approach better than the competition?
Section II: Industry Analysis
Research industry averages for profitability in your marketplace. Use this information to determine the validity of your own projections and make changes if necessary.
Section III: Regulation and Legal
Determine your location and business environment. Address all legal, zoning, and licensing concerns your business will face. Visit your state's Secretary of State website. What form of business will you set up? Why? The level of detail required for this section will depend on your type of location (virtual, retail, warehouse, office, restaurant, etc.) and on your idea. Demonstrate that you have completed your research. DON'T say "We will obtain all of the appropriate permits"; instead, summarize them. When you explain your form of business-remember your audience. For example, if you select an S corporation, explain your reasoning for that selection in the context of your potential business, rather than providing the definition of an S corporation. Address any pending regulations which may have an impact on your business.
Section IV: Competitive analysis
Describe the competitive landscape. Who are the key competitors? What are their strengths and weaknesses? How will you take share from them? How will they most likely try to stop you if you are successful? Who are your indirect competitors? What do they offer your prospects? Include a map of their locations in your local area.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.
Attachment:- Project-Template.rar