The Business Plan

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					The Business Plan
What is a Blue Print?
                  Blueprints
• What purpose does the blueprint serve?
• Who is responsible for the blueprint?
  – Who helps build it
• Who is allowed to see the blueprint?
• Are you allowed to change a blueprint?
• What would happen if construction workers
  went into a job without a blueprint?
              The Business Plan
• We discussed this briefly last week
• Basically, the business plan is necessary for
  every business before they “open their doors”
  – Before you start your business – you need to make
    sure that you have covered everything
  – Not doing so – leaves you scrambling looking for
    quick solutions
     • Often results in the failure of your business
             The Business Plan
• You will be responsible for assembling a
  “Business Plan” for your final evaluation and
  handing it in before your Dragon’s Den
  presentation
  – Your group will be responsible for writing this over
    the course of a week
            The Business Plan
• GROUP WORK AGAIN!
• Get into your Groups from last week
• With your group you will be Brainstorming
  – Think of all the possible, specific, facets of the
    business that an entrepreneur must think of
    before it begins
  – Example: They need to know what merchandise to
    sell
  – Try to get over 30 things on your list!
Let’s Compile a List
           The Business Plan
• Set realistic goals
• Plan what Products/services you will provide
• How Your Business will operate
• What resources will you need? (human,
  material, technical, financials)
• How will the day-to-day be run?
• Marketing research (4 P’s)
• Who is your target market?
           The Business Plan
• Identify the management team and set roles
  of all employees
• Project your costs and revenues
• Obtain Financing
               The Business Plan
• The sections
1) Executive Summary
  –   A one page “Coles’ notes” version of your whole business plan
  –   If the reader only has one page to read – this is it

2) The Idea
  –   Outline of your idea
  –   What are you going to sell and why?
  –   Where are you going to locate?
  –   Why is your business going to work?

3) Competition
  –   Who is your direct and indirect competition?
  –   What makes your store unique and how do you differentiate
      yourself
               The Business Plan
The Functions of your business. Information will include
   but is not limited to:
4) Marketing
  –   A breakdown of all of your marketing information
  –   Target Marketing, Advertising, Logos, Slogans, Store
      Name, Selecting Media, etc.
6) Human Resources
  –   Staffing & Training, Job Descriptions, who to hire, how
      many employees
7) Management
  –   Establishing a Hierarchy
  –   The day-to-day Operation of your business (store hours,
      responsibilities)
             The Business Plan
8) Accounting
  – What assets or liabilities will you have?
  – What expenses and revenues will you have?
  – Specific #’s
9) Finance
  – Where to get your $$$ (loans, investors)
  – Budgeting
10) Conclusion
  – Explain to the reader why your business is a good
    idea to invest in and/or shop at
              The Business Plan
• Your business plan will :
  – Double Spaced
  – Written in full sentences for the most part
     • You may have charts, graphs, lists
  – Be 5-8 Pages Long – the more specific your
    information the better
  – Tie your business to the material we have covered
    in class thus far
  – Include headings for all the different sections

				
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