Throughout the semester you have been reading and learning about entrepreneurship and small business management. These topics relate well with a simple business plan that you will create in this assignment. You must come up with a real or fictitious business idea and write a simple business plan as if you were trying to sell the idea to investors, loan officers, or potential business partners. Some of you may use this business plan as a road map to start your own business.
This assignment offers you an opportunity to exercise your creativity. This does not mean that your analysis should be based on conjecture alone. It should be based on sound quantitative and qualitative reasoning – the insight you are gaining from the class. Your conclusions should be supported with as much real-world information as possible. For example, the price of your product or service should take into account such things as the cost to produce it and the price people would be willing to pay for it, which is greatly influenced by the price of substitute products or services. You will be doing some preliminary market research to come up with the necessary information to support your conclusions.
The simple business plan should be 2 to 3 pages. It should address the following:
Here is a suggested simple business plan outline. You may chose to use your own or the software business plan package that comes with your book. For grading purposes, it does not matter which format you use.
1. Executive Summary
2. Company Summary or Business Concept
Company Locations and Facilities
3. Market Analysis
Target Customer Profile
Product (or service) description
4. Management Plan
5. Marketing Plan
6. Financial Plan
Cash Funds Needed
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