Reference no: EM131439807

You need to prepare a business plan.

You will review and revise, if necessary, your work. Remember the final page count requirement is 20 pages, excluding the front page, reference page, bulleted lists within the paper, and tables and charts.

Refer to this document to learn how to cite sources in the text: Purdue OWL APA style guide Check out this document to learn how to filter for peer-reviewed sources in Grantham's library: How to find a peer-reviewed article Use peer-reviewed journals, government websites, and books to analyze the industry, customers, and the business opportunity.

One of the main reasons to rely on peer-reviewed resources is that you can expect the authors to be experts in the field because the authors have conducted research on the topic for various publications.

In contrast, many online sources you might find are often written by journalists or other people who have read about the information but have not conducted research themselves. Suggested search engines: .Grantham's Library

https://eric.ed.gov .https://scholar.google.com/

Selecting articles that have a digital object identifier (doi) is preferred. Alternatively, the URL from the journal's homepage is also sufficient. Must have at least 10 peer-reviewed references to be awarded the full points. Cannot use on-line magazine articles, such as Ask.com, Forbes, or dictionaries. Government websites and books are not peer-reviewed; therefore, you can have an 80/20% match where 80% of the references are peer-reviewed and 20% are not.

Must have properly formatted in-text citations and Reference page. The Reference page must contain document retrieval information, such as a doi number or the journal's url. The doi is not capitalized and there is not a space between the doi and the number.

Business Plan Outline

The format of the business plan submission is as follows:

1. Abstract

2. Company Background
a. Company Name
b. Type of business-retail, manufacturing, service
c. Proposed ownership/legal structure
d. Unique product or service you will offer

3. Mission Statement
a. Include a statement directed to your customers. The Cleveland Clinic provides better care of the sick, investigation into complex problems, and further education to our employees who serve.

4. Goals and Objectives
a. Include between 5 and 8 strategic goals
b. Must be measurable
c. Include a Table or Chart

5. Stakeholder Analysis
a. Actual personal experience, education and training in the area/ industry of proposed business for all key stakeholders

6. Industry Analysis
a. A brief overview and long-term outlook for growth
b. Review industry size, trends, and target market segment.
c. Identify who leads the industry in terms of:
  i. Price
  ii. Quality
  iii. Market share

7. Competitive Analysis
a. Discuss the strengths and weaknesses of each primary competitor.
b. Consider sales, quality, distribution, price, production capabilities, reputation, and products/services.
c. Outline how your product or service measures in the area of pricing and identify your competitive advantage.
d. Prepare a first-year and a 3-year sales forecast in dollars and units.
e. Briefly outline your sales and advertising plans.

8. Marketing Strategy
   i. The marketing strategy should address how you will differentiate your company from competitors.
  ii. Frame your marketing plan to show potential investors what factors will make your product or service more desirable than those offered by the competition.
  iii. You should present information to show your plan is well-researched and includes reasonable assumptions.
  iv. In addition, the work should illustrate that the proposed company is not entering a declining industry or market segment.
  v. Tables and figures must be introduced in the narrative.
  vi. The marketing plan should include:
1. Analysis of the business opportunity
2. Target market inclusive of potential customers and their location
3. Location of your business
4. Economic, demographic, and geographic factors which may influence the success of the proposed venture

9. Organizational Success Strategies
a. Present a 1-2 page summary of the vision of the company's success.
b. Show what strategies will be adopted to ensure the overall success.

10. Financials Plan
a. Present an in-depth narrative to demonstrate the viability of your business to justify the need for funding.
b. In this section describe financial estimates and rationale which include financial statements and forms that document the viability of your proposed business and its soundness as an investment.
c. Tables and figures must be introduced in the narrative.
  i. Describe the form of business (sole-proprietor, LLC, or Corporation).
  ii. Prepare three-year projections for income, expenses, and sources of funds.
  iii. Base predictions on industry and historical trends.
  iv. Make realistic assumptions.
  v. Allow for funding changes at different stages of your company's growth.
  vi. Present a written rationale for your projections.
  vii. Indicate your startup costs.
  viii. Detail how startup funds will be used to advance your proposed business
  ix. List current capital and any other sources of funding you may have
  x. Document your calculations.
  xi. Use reasonable estimates or actual data (where possible).
  xii. Create a cash-flow statement

11. Final Remarks

12. Appendix

13. References