The Business Plan should address each of the nine sections in the outline as they relate to your business. Not every item may be applicable to your business. Provide information specific to each topic; try not to repeat data from one section in anotherThe Business Plan Document shall fit these Guidelines:
The Plan should be compiled in 2 Parts:
1. Cover Page + Table of Contents + 20 page (maximum) Business Plan Narrative + Appendix.
2. Financial Projections Excel Spreadsheet
Business Plan Format Requirements:
· Use 12-point font size. Recommended fonts include: Times New Roman, Arial and Helvetica
· Margins no less than .75
· All pages must have the name of the business at the top or bottom.
· The plan narrative should be no more than 20 one-sided pages with no less than 1.5 line spacing.
· The Appendix and the Financial Projections do not count toward the 20-page limit.
· Use the excel cash flow spreadsheet provided in the Financial Class.
Cover Page (Template Provided) - Include the names of all team members, including their street addresses, telephone numbers and email addresses, the business name, and if applicable, street address and web address, along with the date the plan was completed.
Table of Contents - List page numbers for each section.
1.Executive Summary (One to Two Pages)—Business Plan Class
a. Summary of all sections, best written after the plan is complete.
2.Business Description—Business Plan Class
a. Business concept and opportunity; why are you likely to be profitable?
b. Description of product or service; what exactly will you be paid for?
c. Legal structure and legal name; trademarks or copyrights if applicable
d. Major accomplishments to date and/or timeline for future development.
e. Financing requirements; start up costs, plus an explanation of how you will use the $7,500 prize.
3.Market Analysis and Target Market--Market Research Class
a. Demonstrate that there is a market or opportunity and that your business can capture a share of it.
b. Fully describe your target audience; where are they located and their characteristics. Are you targeting individuals and/or businesses? If individuals, include demographic information.
c. Define the size of your target market, include how much money they spend, their buying habits and the potential for growth.
4.Industry Analysis and Trends—Market Research Class
a. Your business is part of an industry.
b. Identify and describe the industry, its size and potential for growth.
c. Identify the opportunities in this industry and describe any barriers to entry.
d. What are the trends for your industry or type of business? Are there new developments or other forces that will impact your business, such as technology, seasonal factors, regulatory or economic issues?
5.Competitive Analysis & Your Strategic Position Market Research Class
a. Your competition includes businesses that sell similar products or services. They can be local or international.
b. Identify companies serving your potential customers, and their strengths and weaknesses.
c. Identify your company's strengths and how you will differentiate your company from the competition
d. SWOT Chart for your business (internal Strengths & Weaknesses, external Opportunities & Threats).
6.Marketing Strategy--Marketing Class
a. How will you promote your product to your target audience - what is your mix of marketing media, public relations, advertising? What will each cost?
b. Describe your sales force and structure; describe any strategic partnerships.
c. Pricing - what is your policy based on costs, your competition and your target market? This section must tie into Cash Flow statements.
7.Operations—Business Plan Class
a. This section will vary depending on the business, but it must demonstrate you understand the day-to-day implementation of your business. Provide the cost for each item and tie this information into your financial statements.
b. How will you manufacture your product or provide your service?
c. What are the personnel or labor requirements?
d. Special equipment or key suppliers, if applicable.
e. Space requirements (e.g.: office, factory, reil, home) and associated costs, including renovations.
f. Location - description of your desired location and its key features, including zoning requirements.
g. How will you get your product or service to your customer; describe the distribution process.
h. Quality controls and/or health and safety controls you will put in place.
8.Management and Organization -- Business Plan Class
a. Job descriptions or duties, experience, skills, salaries, and resumes of the staff, including the owner(s). What does the owner bring to the business?
b. Key personnel, consultants: Job descriptions, salaries, and training requirements.
c. List advisors, board of directors, professional relationships (accountant, lawyer) if appropriate.
d. Resumes, organization charts may be included in the appendix.
-Template will be sent to you via email ahead of the class
Translate the following details into realistic financial projections.
a. START UP COSTS & FUNDS
i. What are the costs before you open? Include any expenses you have incurred already.
ii. Specify source of funds, including prize money, personal savings, family & friends, loans.
b. CASH FLOW STATEMENTS for the first two years:
i. Year One - Every month for year one.
ii. Year Two - A summary of every quarter.
c. NOTES &ASSUMPTIONS (optional) explain financial projections as needed.
i. The mechanics of an excel cash flow spreadsheet will be explained in the Financial Projections class - the class is mandatory. The spreadsheet will be available online after the class takes place.
Supporting documents, resumes, brochures, organizational chart, etc. Be judicious about what to include, the appendix should not exceed an additional 10 pages.