Business Management Major
Develop a business plan for a start-u p company that plans to sell a product or service in a local market, in a national market, or on the internet. Select one of your favorite products as a basis for the company or invent a product.
See Business Plan Requirements and supporting documents attached.
|Monthly Profit and Loss||Month 1||Month 2||Month 3||Month 4||Month 5||Month 6||Month 7||Month 8||Month 9||Month 10||Month 11||Month 12|
|Total Operating Expenses:|
|Profit before Interest|
|Net Profit (Loss) – Monthly|
|Net Profit (Loss) for year|
Firm Name: Name of Report: For the period ending:
|Projected Balance Sheet|
|Current Assets (e.g. Cash, Accounts Receivable, Inventory, etc):|
|Long-Term Assets (e.g. Furniture, Equipment, Vehicle, Building, etc.):|
|Current Liabilties (e.g. Accounts Payable, Wages Payable, etc.):|
|Long-Term Liabilities (e.g. Loan Payable, etc.):|
|Owner's Investment (optional)|
|Total Liabilities and|
Firm Name: Name of Report: As of:
Student ID 000000 Lastname Business Capstone Business plan Version page 9
Firstname I. Lastname
F. Financial Statements and Projections 10
F1. Forecasted Profit and Loss Statement 10
F2. Forecasted Balance Sheet 10
G3. Estimated Capital/Investment Needs 11
Suggested length of 1–2 pages
A1. Company Identification: Identify the company’s name and location.
A2. Mission of the Company: Describe the mission of the company.
A3. Business Goals: Discuss two business goals in support of the company’s mission.
A4. Keys to Success: Discuss three keys to success for the company.
Suggested length of 4–6 pages
B1. Industry History: Describe the history of the industry in which the company will operate.
B2. Legal Form of Ownership: Identify the legal form that the company will take.
B3. Location and Facilities: Describe the location and type of facilities needed for the company.
B4. Management Structure: Describe the management structure, including key positions and specific responsibilities.
B5. Products and Services: Describe the products and services offered by the company.
Suggested length of 3–5 pages
C1. Target Market: Describe the target market for the company’s products and services, including the specific location, demographics, etc.
C2. Industry Analysis: Complete an industry analysis for the company, including current trends and statistics.
C3. SWOT Analysis: Complete a four-square SWOT analysis for the company in which you do the following:
a. Identify three strengths, three weaknesses, three opportunities, and three threats.
b. Explain each of the identified strengths, weaknesses, opportunities, and threats.
Suggested length of 3–6 pages
D1. 4Ps: Discuss each of the four Ps of marketing as they relate to the company’s products and services.
D2. Price List: Develop a price list for the company’s products and services.
D3. Promotional Strategy: Develop a promotional strategy including specific tasks, target dates, and responsible parties.
D4. Sales Forecast: Develop a monthly sales forecast for the first year of operations, including a discussion of expected market conditions.
Note: The sales forecast will be used as the basis for your revenue in your financial statements.
Suggested length of 1–2 pages
E1. Overall Strategy: Summarize the overall strategy that will be utilized to launch your business, including target dates and goals for implementation.
E2. Monitoring Plan: Develop a post-launch monitoring plan (e.g., financial impact, quality control, customer satisfaction, monitoring schedule) to evaluate the success of the company in meeting milestones.
Note: Develop projected financial statements for the first year of business. You are required to use the Business Plan Financials Template. The only information entered in section F of this report should be “See attached spreadsheets”.
F1. Forecasted Profit and Loss Statement: Develop a month-by-month forecasted profit and loss statement using an estimate of revenues and operating costs based on the sales forecast.
F2. Forecasted Balance Sheet: Develop a forecasted balance sheet for the end of year one.
Suggested length of 1–2 pages
G1. Financial Projections: Summarize the financial projections and the assumptions used in estimating the financial statements.
G2. Financial Position: Describe the company’s financial position at the end of the first year.
G3. Estimated Capital/Investment Needs: Describe the company’s initial and future estimated capital/investment needs.
Undergraduate Capstone Checklist
The checklist below will provide you with guidance for each section as you complete your work for submission or as a guide as you work on revisions. Using this guide in its entirety is your best chance of success! If you need additional help with your work, please contact the course instructors at [email protected]. Follow the step-by-step approach below to complete your work:
1. Step One: Watch the Getting Started on the Capstone video!
2. Step Two: Schedule a call with your assigned course instructor, if needed, to discuss your business idea or additional questions. You can also email your business idea to the team for review. Please note: Your company idea must align with the company requirements for your degree program. You are not allowed to use a franchise or a not-profit organization.
3. Step Three: Proceed through the checklist by watching the video at the beginning of each section and reviewing the tips for each prompt.
4. Step Four: Review your questions with the course instructors via email or by scheduling an appointment.
5. Step Five: Write your response for the section. Do not forget to use the templates!
6. Step Six: Schedule a call with your course instructor prior to submission to discuss questions/concerns.
Course Instructor Contact Information
Course instructors will support you through all pre-task submission activities. We do not review papers prior to your first submission. However, should your task fail for any reason, we will assist you in understanding the feedback so that you can make the required revisions. We can also help review revised work prior to resubmission. Our shared e-mail address is [email protected]. In addition, you can schedule with any course instructor on our team using this link: Team Calendar. You can also schedule with us individually using our links in the course home page for your course (right-hand side menu).
You will be required to credit and use outside sources for sections B1 and C2. You can use Microsoft Word to completed reference and citations for the paper. Follow this link for instructions on loading your sources in Microsoft Word: Citations and References. If there is no author, leave that section completely blank. If there is no copyright date for an online resource, you can use the current year. Once you load your sources, you can credit your sources using APA, MLA, endnotes and footnotes, etc. You can also build a reference page or bibliography directly from MS Word. We hope that this is helpful and that you can take advantage of this resource! Please refer to Section H below for additional information about how citations and references are evaluated.
SECTION A: Section A Video
**We recommend that students complete section A last as it can be easier to write once you have identified the structure and operations of the business.
· You must clearly identify the name of your business, as well as the specific location (city, state) of your business. You are not required to have an exact address or street name.
· Example: XYZ Computer Repair, located in Detroit, Michigan.
· Clearly explain the mission you have outlined for your company.
Mission Statement Example :
The mission of Sweet Treats Bakery is to provide the highest quality cupcakes with the best possible service to our customers and community.
· Clearly identify and discuss TWO business goals that support the mission you described in aspect A2. We provide you with one example below.
· Enough discussion needs to be provided to explain how the identified goals support your company’s mission. Be very specific and clearly state how the goal supports the mission.
Example of a Business Goal:
· The first goal for year one is to have 85% customer satisfaction with the overall service that the company provides to customers in the store and at catering events.
· Explanation: One aspect of the company’s mission is to provide the best service possible. To ensure that the company is meeting its mission, it will be necessary to measure customer satisfaction and ensure that survey scores meet or exceed the goal.
Three Keys to Success
· Be sure to list three keys to success for your new company and discuss each key in enough detail to prove your competence in this area. Keys to success can be more generic in nature.
Example of Keys to Success:
· Hire the highest quality candidates at competitive wages.
· Explanation: Hiring and retaining qualified employees will be critical to ensuring that the company meets their mission of providing the highest quality service.
· Seek out the highest quality ingredients at competitive prices.
· Explanation: High quality ingredients are a key component of ensuring the company meets their mission of providing the highest quality product to our consumer.
· Treat every customer the way we would want to be treated.
· Explanation: Ensure that each customer has their questions/concerns addressed personally by the manager or staff to continue to provide excellent customer service.
SECTION B: Section B Video
· Describe the actual industry in which the business will operate. You may need to broaden the industry such as using the “history of baking” or “history of a bakery” rather than the “history of a cupcake shop”. In addition, you may have multiple industries, such as human resource consulting. In this case, you can use the main industry, such as human resources, or you could discuss both the human resources and the consulting industry.
· Be sure to give an overview of the history of your industry and not a history of your hypothetical company. This section could include, but is not limited to, a discussion of key events, dates, technological advancements, people that have contributed to the growth of the industry, government regulation, etc. Timelines work very well for this section.
· This section will require outside sources (including corresponding citations within this section), as you will want to base this information on the actual history of the industry (e.g. facts, dates, figures, etc.).
SAMPLE SEARCH TERMS: “industry history of baking”, “history of bakeries”
· Identify the ownership and legal establishment of the company, (e.g. specifying whether your company is a corporation, partnership, sole proprietorship, limited liability partnership, limited liability company (LLC), etc.). Corporations can be difficult for the project and are discouraged. However, if you choose to use a corporation then you must be consistent throughout the paper. As an example, a board of directors would be required for the structure of the organization (B4).
· Explanation of the legal form of ownership or justification for the selected form of ownership is NOT required.
For additional information on legal forms, please see the following: https://go.openathens.net/redirector/wgu.edu?url=http://fed.ibisworld.com/sso/oathens
· Please note that LLC stands for Limited Liability Company , not Limited Liability Corporation.
Location and Facilities
· Provide a description of the location and type of facilities needed for your company. Identify the geographic location of your business, including where the products/services will be produced or distributed. The location does not require a set address. A city and state for each location associated with the business will suffice.
· The location of the business and the facilities needed to operate the business must be described. This section should include a discussion of the location and the general facilities that will be utilized by the company, such as warehouse, home office, store, etc. Detailed explanations of the space may be included but are not required.
B4 Management Structure
· You must describe the management structure, including key personnel and positions.
· This section also needs to include a description of the assigned responsibilities of each management position.
· An organization chart is appropriate format for content; however, it is not required. You do not need to identify a specific functional structure for the organization. Responsibilities of the key personnel could include, but are not limited to, legal, accounting, operations, management, human resources, marketing, etc. It is not necessary to include all these areas.
· If you are the only employee in your new business, be sure to list all the duties and responsibilities that you will perform.
· Outsourced positions or functions are acceptable for this section.
Products and Services
· This section should discuss in detail the actual products and services that the hypothetical company will be providing. This explanation should serve as an introduction to the product and/or service and what specifically it will be providing customers. How will the product/service meet customer needs?
· This same information can be included in D1 for the product/service component.
SECTION C: Section C Video
· Ensure you have included a very specific description of the target market for your company’s products and services and clearly identify your intended customers.
· If your business targets consumers and businesses, then you need to include both in your discussion.
· The target market can best be identified in terms of the marketing budget. Your sales will not be restructured to one group or demographic (especially if you are an online business). However, with your limited marketing budget, who will you target first with your marketing efforts. Who is most likely to buy from you in the beginning?
· Target market components for business to consumers could entail the following items:
· Geographic: Location
· Demographic: Age, Gender, Income level, Education level, Marital or family status, Occupation, and Ethnic background
· Target market components for business to business could entail the following items:
· Geographic: Location
· Demographic: Number of Employees, Years in Operation, Annual Revenue, Friendly to Outsourcing, Types of Companies (e.g. healthcare, education, manufacturing, etc.), and Values and Beliefs of the Organization
The industry history (B1) talks about what has happened in the past, but the industry analysis (C2) is what is going on with your industry in the present and future. The industry discussed in both your industry history and industry analysis need to address the same industry. The industry analysis should address the current state of the industry to include c
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