Module learning outcomes:
• Understand the purpose and key parts of a business plan
• Know how strengths, weaknesses, opportunities and threats impact a business
• Know how to access sources of finance and be able to construct and interpret financial forecasts
• Know what makes an effective business plan
Assignment requires that you demonstrate that you can:
• Understand business theory and concepts
• Able to apply theory and concepts to different types of businesses
• Able to analyse the implications for businesses
• Able to offer an opinion or make a judgement
Prepare an individual, 2500 word business plan and group presentation detailing your business idea. Use the following details to help structure your business plan.
Business idea
1. Give a detailed explanation of the goods or services your business plans to provide
2. Include: product, prices, sizes, type of service and deals/ offers
3. Logo, reasons for your business name and design
Market
4. Market size important
a. Statistics and encouraging factual research to justify your reasons for opening
5. Market segment important
a. Explain you reasons
6. Main competitors important
a. Strengths : product, price, place & promotion
b. Weaknesses : product, price, place & promotion
c. How will you different from your competitors (give a list of ideas)
Research
7. Range of Primary research - results should be analysed
8. Range of Secondary research -results should be analysed
Legal structure
9. Which legal structure have you decided to choose? Explain your reasons why (justify)
Location
10. Where have you decided to locate your business and why (justify)
Human resource
11. Number of employees you plan to employ
a. Job title
b. Description of their daily responsibilities
c. Contract arrangements
d. Qualifications/ skills
e. Wage, reasons why
Finance
12. Details of your chosen sources of finance (short and long-term)
13. Give reasons for your choice over others (justify)
Costs
14. List of start-up costs
15. Fixed and variable costs
Budget - produce the following:
16. Sales budget
17. Cost budget
18. Production budget
19. Analyse each budget (one paragraph each)
Financial forecast - produce the following:
20. Break even chart
21. Cash flow forecast
22. Analyse each chart (one paragraph each)
SWOT analysis
23. Complete a detailed SWOT of your business. Be specific and realistic
Appendix
24. Research and additional information