This document provides the required questions that must be answered for the written portion of the business plan. There are 7 sections. Each section has in parenthesis after the title the employee responsible for its completion. That does not mean there will be no collaboration with the group in the written section. In fact, collaboration will be necessary so assumptions and figures used in your section will make sense. Also, the written plan must be done in the same software program and font so the final written proposal is professional and seamless.
Note: these are the same questions that will need to be answered in your oral presentation.
Business Description (Director of Operations)
1. Legalities-business form: proprietorship, partnership, and corporation. Why? Licenses and permits you will need.
2. Business Type- service, manufacturing, merchandising. Why?
3. Explain in detail your product or service
4. Why will your business be profitable? What are your growth opportunities?
5. When will your business be opened (days, hours) and why?
6. What have you learned about your type of business from outside sources (trade journals, suppliers, bankers, publications, business contacts)?
1. What are your location needs?
2. What kind of space will you need?
3. Why is this area desirable? The building desirable?
4. Is it easily accessible? Is public transportation available? Is street lighting adequate?
5. Are market shifts or demographic shifts occurring?
6. Create a physical layout of the facility using classroom software.
The Marketing Plan (Director of Marketing)
1. Who are your customers? Define your target market(s)?
2. Are your markets growing? Steady? Declining?
3. Is your market share growing? Steady? Declining?
4. Are your Markets large enough to expand?
5. How will you attract, hold, increase your market share?
6. What pricing strategy have you devised?
7. Please describe your specific promotion campaigns including target markets and advertising medium.
Competition (Director of Customer Service and Director of
Marketing)
1. Who are you 5 nearest competitors
2. Who are your indirect competitors?
3. How are their businesses: Steady? Increasing? Decreasing?
4. What have you learned from their operations? From their advertising?
5. What are their strengths and weaknesses?
6. How does their product differ from yours?
1. Determine your pricing strategy
2. Describe how your strategy applies to:
-Retail cost and pricing
-Competitive pricing
-Pricing below competition
-Pricing above competition
-Price lining
-Multiple pricing
-Service costs and pricing
3. List your products and prices
Management Plan (Director of Operations)
1. How does your background/business experience help you in this business?
2. What re your weakness and can you compensate for them?
3. Who will be your management team?
4. What are their strengths and weaknesses?
5. What are your duties?
6. Are these duties clearly defined?
7. What are your personnel needs?
8. What are your plans for hiring and training personnel?
9. What salaries, benefits, vacations, and holidays will you offer?
Financial Management Plan (Director of Finance)
1. Create a start-up budget with:
-Personnel
-Legal/professional fees
-Occupancy
-Licenses/permits
-Equipment
-Insurance
-Supplies
-Advertising/promotion
-Salaries/wages
-Accounting
-Income
-Utilities
-Payroll expenses
2. Create an operating budget with:
-Personnel
-Insurance
-Rent
-Depreciation
-Loan payments
-Advertising/promotion
-Legal/accounting
-Miscellaneous expenses
-Supplies
-Payroll expenses
-Salaries/wages
-Utilities
-Dues/subscription/fees
-Taxes
-Repairs/maintenance
3. 5 year income projection