BSM150 Business Start-Up

BSM150 Business Start-Up

COMPILING THE BUSINESS PLAN

This week, your energies will be spent solely on putting together your business plan. Once you have filled out the template below, you will create a 10 slide power point summarizing your entire project. Remember to include appropriate images and charts as well as reference links to any images and info you used in your project.

Remember: we do not want to read all of your information from the template, the PowerPoint should act as a visual for your presentation to the class.

MyCompanyName

Business Plan

Overview

▪ Describe the kind of business that you are starting, including the type of business (proprietorship, partnership, LLC, etc.), the name of the business (trademarked name, fictitious business name, Internet domain name, etc.), and the location of the business.

▪ Summarize why you believe that your business products and services are needed in the community and why customers will want them.

▪ Include a brief resume of your background, your experience, your skills, and why you are the person who can make this business successful.

Mission Statement

▪ Provide a statement about the mission or objective of your business. Summarize this in one compelling sentence or phrase. This usually begins with: “To deliver [specified products, services, etc.] to [specified community, market, etc.] at [specific product quality, customer service, etc.].”

Sales & Marketing Strategy

▪ Describe how you plan to reach your customer base. This includes advertising (newspapers, trade publications, bulletins, etc.), press releases, website marketing, email blasts, trade shows, seminars, and any other means for creating demand.

▪ Describe your pricing plan and your policy for guaranteeing the quality of your products and services (warrantees, returns, etc.). Are you selling direct or through a sales channel?

▪ Describe the competition in your market. Who are they? How long have they been in business? Why are you able to compete with them?

▪ Provide a snapshot Strength-Weakness-Opportunities-Threats (SWOT) analysis or scan. Strengths and Weaknesses are internal to your business. Opportunities and Threats are external to your business.

Management

▪ Provide a list of key employees and their role in your business. This may be just you, the owner, as the sole proprietor of the business.

Facilities

▪ Describe the location and physical size of your business (brick-and-mortar building, home office, Internet website, etc.), including whether you are entering into a lease and the length of your rent obligation.

Schedule

▪ Summarize your schedule for starting your business: company name/trademark; getting permits; acquiring financing and facilities; employee staffing; and “ribbon cutting.”

Financial Forecasts

• Estimate one year of operation:
• Revenues (Sales, Income)
• Expenses (Variable and Fixed Costs)
• Gross Profit and Net Profit
• Break-Even Point

Start-up Costs

• Leases
• Licenses
• Permits
• Insurance
• Building improvements (paint, utilities, signage, etc.)
• Office furnishings (desks, chairs, cubicles, etc.)
• Capital equipment (copiers, PCs, machinery, etc.)
• Other

Funding

▪ Describe whether you plan to use personal assets (cash), bank loan financing, or investor funds to get your business off the ground.

Conclusions

▪ Summarize why you believe that your business plan will result in a profitable business venture.