What is your competition, What is your competition? How

What is your competition

Assignment Help Business Management

Reference no: EM13771127

Write a 3-5 page paper using one business plan below. Please read the instructions carefully. Also, you would need to send me the topic and the direction you chose sent to me before midnight tonight.

Business Plan Project - The business plan is a tool to help you find and explore opportunities.

To help get your business plan "thinking processes" moving use some of the following questions:

• What kind of business would you start if you and had access $1,000, $5000, $50, 000, $100,000, $500,000 or even $1,000,000?

• What kind of business could you start if you want to do business in another country?

• What type of business could you start while still going to school?

• What type of business could you start using the skills you have now?

• What type of business could you run while also working in a part time job (to provide the security of a salary while the business grows)?

• How could you start a business and then later make it into your own franchising business for purposes of expansion?

Or, develop a business plan for.....

• a business needed in your town

• a business that involves exports to another country

• a home-based business

• the worst possible business idea you can imagine

Or, think of starting a business like one of the following:

• Refreshment stand at local games

• Child care

• Yard care

• Web page development

• Youth community center

• Shopping service for seniors

• Pet sitting

• Delivery services

• House cleaning service

• Janitorial services for local businesses

• Selling used clothes

• Jewelry making

• Catalog sales

• Temporaries agency

• Computer service business

• Travel services

• Musical group

• Repair services (shoes, electrical equipment, cars, clothing, etc.)

Once you have a business idea, you can begin to write your project paper.

Use the following questions to make decision about the business idea of your choice. Be sure to write out your answers...to remember your decisions and build on them.

Provide a description of the business

• How can you describe the business...in only one paragraph?

• What is your product, or service?

• Who will buy it?

Choose the best marketing strategy

• Where should you locate the business?

• How can you attract customers?

Identifying the management plan

• What is your competition?

• How much should you charge for the products or service?

• What advice do you need and who can provide it?

• How will you organize the managers and/or workers of the business?

• How will you split the profits? Who is responsible for the losses?

• What should you consider to be able to produce the product and get it to the customer?

Analyze the finances needed to start the business and make it successful

• How much money is needed to get the business started?

• How many customers will you have per month and how much will they buy per month?

• How much does it cost to make the product or provide the service?

• What are your operating costs? (Include your own salary)

• How much money will your business earn each month by selling your product or service?

• How much investment will you need to keep the business going until you make a profit?

• What is your potential profit per year for Year I, Year II, and Year III?

• How much money do you need to borrow to start this business?

• How will you make the business grow in the future?

Reference no: EM13771127

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