Pretend that you would like to open your own new business. Create and refine your business concept, define the market potential, and create a well-developed business plans. Define the market (through industry analysis and target market description), describe the products and services as well as organization and management, develop a strategy for marketing and sales, estimate start up costs with sources of funding requirement, develop financial statements (estimates) for their business to enable them to launch the business. The goal is to create a formal business plan suitable for submitting to a potential investor, bank or lending institution, or venture contest.
The response should include :gathering and analyzing secondary data, creating a tool or instrument to gather and analyze primary data, gathering related research and preparing a literature review, preparing and analyzing tables, charts, and supporting text, working with existing models or developing new models for use in research, etc. I will also need a power point for this. Just for information purposed I need thorough information, depth, lets say about 20 pages long.
Statement of purpose
Description of staffing (key Personnel)
Analysis of the real industry
Analysis of the virtual enterprise industry
o Target market
o Market segmentation
Strengths & Weaknesses
Opportunities & Threats
Discussion of Business Risks
Explanation of how
the firm (as relevant
to the business):
o Acquires products/ services
o Stores products
o Distributes products/service
Balance sheet (actual dollar amounts as of Nov. 30th compared to projected dollar amounts for fiscal year)
3- Year projected income
1-Year projected cash flow
Explanation of financials
The projections that support
the business plan
This business plan is for a business specializing in the production and distribution of infinity scarves (you can really take these notes and customize them for whatever business you would like this to be for). Also, I'm not sure how your plan should be organized, so I'm going to address the required portions in the notes along with brief notes on the three portions of the business plan--Concept, Market, and Financials.
My notes for the business are in flux for this document and you will need to pick and chose your business details before compiling your business plan. However, all the portions and examples are here to use along with websites listed for further examples.
Infinity ∞ Scarves
This is the part of the business plan where you talk about your product and the industry you are trying to enter. You should also discuss how you feel your product will fit into the industry along with some description of your product. This is also where you discuss what your plans are to make your business successful and what you will do to help it thrive.
The current scarves industry is pretty saturated. However, there are not many businesses out there offering customizable infinity scarves. An infinity scarf is a circular scarf of a length long enough to wrap around the neck of the individual at least twice. They can be made of various materials, crocheted, or knitted. I expect to be able to enter the market filling the niche for people who want custom scarves for a specific outfit or outfits. To be successful, my plan is to offer many fabric and design options within a specified delivery period. The fabrics will be priced based on market pricing plus a small premium. Delivery times will be based on standard and express with a premium charged for express delivery.
In this portion, you should look at who you believe your customers will be. You look at what they do, who they are, the compelling factors for purchase, and also look at competition possibilities. You should also describe how you believe your business will be able to overcome the competition. This could be through providing a better product, finding a niche, advertising, pricing, etc.
Customers of infinity scarves come from all ethnicities and walks of life. Women and men of all ages purchase these scarves for personal use and/or gifts. With my business, my plan is to focus on the market segment that makes more specialized purchases. I will be focusing on customers that have a specific outfit to accessorize or the person that wants to give a unique gift. These customers are generally in professional positions within companies and tend to make purchased from higher-end merchandisers. The competition I currently face is companies that mass produce scarves that are largely the same with little difference other than color or fabric choice. My company is different because my business offers fully customizable scarves--color, fabric, and length. I will be able to "beat" the competition by honing in on this niche market and drawing people away from the mass produced scarves and into my world of customized scarf accessories.
In this final section, you present your financial statements.
You might also include information on short-run decisions to close down or long-run break even. Please see the last pages for examples of these documents.
Statement of Purpose: The statement of purpose for your small business defines your company's core goals and purpose. According to Web Marketing Today, an Internet marketing website, the statement also forms the basis for your small business's brand and the promises your company intends to make to consumers. A statement of purpose isn't as broad as a mission statement, which seeks to incorporate business strategies and procedures into the document. Instead, a statement of purpose focuses ...
This is a basic business plan set up with an example business. Financials for example company are included. Please use the website for creating the financials for your business plan company. If you use the provided template workbook it walks you through it. The financials are self-populating. There is also a business plan template included as a download. The site from which the financials templates and the business plan template come from is referenced within the response.