Business Plan Exploration Report
You will conduct a business plan exploration of a product or service. This report will address the business environment and relevant management, finance and marketing issues related to developing a product or service business plan. Business majors can use this as an opportunity to research the viability of a business idea for BA 499 - Capstone - Develop a Business Plan. We will go to the library to have an orientation to business research.
You will be including a recommendation in the report. A reasonable recommendation might be to not pursue the business idea. This recommendation will not adversely affect your grade.
The final report must be APA style using appropriate section headings, be at least 10 pages in length, must not exceed 15 pages. Include whatever elements you think are necessary, including, but not limited to the following elements:
• An executive summary
• Introduction (product or service)
• Graphic images
• Evaluation of market (size, demographics, socioeconomic state, urban/rural, etc.)
• Competition in the market
• Legal considerations
• Methods for marketing
• Labor climate
• Start up costs
• Pricing for product or service
• Recommendations
• References
• Appendix
If a category does not pertain to your plan, include the section and write "Does not apply to this project."
Resources:
Use the following questions and resources to help you research and write your report.
• What need or problem does the business address?
• Can you profile your customers? Age? Gender? Income level? Location? etc... (market research)
• How big is the market? (market research)
• Is market share available? (market research)
• Who are the competitors?
• What differentiates your business?
• What are the start-up costs?
• What are the operating costs?
• What is the break-even point and when will it occur?
• Can you complete a pro forma financial statement?
• Do you have what it takes? (self-study)
• Do you have the ability to borrow money? Collateral? Equity? Credit?
And, here are a few website links with information about starting or running a small business:
https://www.smallbusiness.wa.gov.au/business-topics/
https://www.sba.gov/tools/sba-learning-center/search/training
https://store.msuextension.org/publications/BusinessandCommunities/MT199510HR.pdf
This assignment requires you to write a mock up business plan based on your original proposal. I will include the original proposal for your reference. You will find it in the attachment.
Attachment:- Business_Plan_Proposal.rar