14 Aug There are six parts to the business plan. You will use the same business idea fo

There are six parts
to the business plan. You will use the same business idea for all six parts of
the plan. The Business Plan Assignments can be found by clicking the link in
the chapters in which they are assigned. Answer the questions that make up each
part in the order that they are shown. Note that the template includes hints
that will help you answer each question. Once you are done answering the
question, you should delete the question and the tip, leaving just the heading
and your answer behind.
Students who
successfully complete the plan have these two qualities in common:They
do not procrastinate. A well-written business plan cannot be written overnight,
as they require a good deal of thought and creativity. They also ask questions.
If a term is used in the business plan template that confuses you, check in
your textbook or ask your instructor for an explanation.
Students
also like to know how many pages are needed for a good grade.A
good completed Business Plan normally requires between 10 to 12 pages. This
sounds like a lot, but most of the six sections will average about 2 pages.

To complete this
assignment, you will need to use the Business Plan Template below. You must use
Microsoft Word to prepare your assignment. After you have completed the
assignment upload it using the link below. Do not include the questions and
hints provided in this template in your Business Plan. You should however
include the headings above each section to make your plan look more
professional and easier for me to read. Be sure to save your work. If you have
not done so already, please read the information about the Business Plan
assignment in the syllabus.

BUSINESS NAME
What is the name of your business?
Hint: When you think of the name of your
business, make sure that it captures the spirit of the business youre
creating.

DESCRIPTION OF BUSINESS
What will your business do?
Hint: Imagine that you are explaining your
business to a family member or a friend. The business should be easy to
explain.

FORM OF BUSINESS OWNERSHIP
What form of business ownership (sole
proprietorship, partnership, corporation, LLC, etc.) will your business take?
Why did you choose this form? What are the advantages and disadvantages?
Hint: For more information on the types of
business ownership, refer to the discussion of the different forms of business
ownership in Chapter 3.

IDEAL CUSTOMER
Describe your ideal customer. What are they
like in terms of age, income level, and so on?

OUR ADVANTAGES
Why will customers choose to buy from your
business, instead of your competition?
Hint: In this section, describe what will be
unique about your business. For example, is the product/service special, will
customer service be exceptional, or will you offer the product/service at a
lower price?

ETHICAL ISSUES
All businesses have to deal with ethical
issues. One way to address these issues is to create a code of ethics. Describe
three core (unchanging) principles that your business will follow.
Hint: To help you consider the ethical issues
that your business might face, refer to the discussion in Chapter 2.

SOCIAL RESPONSIBILITY
A business shows social responsibility by
respecting all of its stakeholders. Describe the approach to social
responsibility (proactive, accommodative, etc.) your business will take. What
steps will you take to create a socially responsible business? What steps can
you take to be a good citizen in the community? Consider also how you may need
to be socially responsible toward your customers and, if applicable, investors,
employees, and suppliers.
Hint: To help you consider issues of social
responsibility, refer to the discussion of social responsibility in Chapter 2.

GLOBAL ISSUES
Do you think that youll sell your product in
another country? If not. Why? If so, what countries would you choose, and why?
What challenges will you face?
Consider how you will expand internationally
(i.e. independent agent, licensing, etc.). Do you expect global competition for
your product? What advantages will foreign competitors have?

Business Plan Part 2
For this part of the Business Plan you will need to answer the
questions in Part 2 found below. When you are finished upload ONLY Part 2 of
the project using the link below. You will be using the
same business that you created for Part 1. Please add the name
of your business to the top of your assignment. Be
sure to save your work. If you have not done so already, please read
the information about the BusinessPlan assignment in the syllabus.

BUSINESS NAME
Please state the name of your business at the top of Part 2
of your business plan for me.

MISSION STATEMENT
Provide a mission statement for your business.
Hint: Refer to the discussion of mission statements in Chapter 5. Be sure to
include the name of your business, how you will stand out
fromyour competition, and why a customer will buy from you.

BUSINESS GOALS
Consider the goals for your business. What are three
of your business goals for the first year? What are two
intermediate to long-term goals?
Hint: Refer to the discussion of goal setting in Chapter 5. Be as specific and
realistic as possible with the goals you set. For example, if you plan on
selling a service, how many customers do you want by the end of the first year
and how much do you want each customer to spend? If you plan on selling a good,
how many do you hope to sell?

SWOT ANALYSIS
Perform a basic SWOT analysis for your business, listing its main strengths, weaknesses, opportunities,
and threats. Look around at yourworld.
The strengths and weakness are internal to
the business and are known as
the organizational analysis.
The opportunities and threatsare external to
the business and are known as the
environmental analysis.

MANAGEMENT
Who will manage the business?
Hint: Refer to the discussion of managers in Chapter 5. Discuss how many levels
of management as well as what kinds of managers yourbusiness needs.

ORGANIZATION STRUCTURE
Explain how the team fits together. Describe who will work for each manager
as well as each persons job title.
Hint: Most businesses start off quite small. However, as you describe your organization,
consider what your business will look like in the
future. What different tasks are involved in the business? Who will each
person report to in the organizational structure? Refer to the discussion
of organizational structure in Chapter 6 for information to get you
started.

FLOOR PLAN
Describe the floor plan of the business. What does it look like
when you walk through the door?
Hint: When describing your floor plan, consider where equipment,
supplies, and furniture will be located.

RAW MATERIALS AND SUPPLIES
Explain what types of raw materials and supplies you will need to
run your business. How will you produce your good or
service? What equipment do you need? What hours will you operate?
Hint: Refer to the discussion of operations in Chapter 7 for information to get
you started.

QUALITY ASSURANCE
What steps will you take to ensure that the quality of the product or service
stays at a high level? Who will be responsible for maintaining the quality of
the product or service (or both)?
Hint: Refer to the discussion of quality improvement and Total Quality
Management in Chapter 7 for information to get you starte

PART3
For this assignment you will
need to answer the questions in Part 3 below. When you are finished upload ONLY
Part 3 of the project using the link below. Please add the name of your
business to the top of the assignment. Be sure to save your work.

BUSINESS NAME
Please add the name of your business to the top of Part 3 of your business
plan.

CORPORATE CULTURE
What do you see as the corporate culture of your business? What types of
employee behaviors, such as organizational citizenship, will you expect?
Hint: Will your business demand a casual environment or a more professional
environment? Refer to the discussion on employee behavior in Chapter 8 for
information on organizational citizenship and other employee behaviors.

LEADERSHIP PHILOSOPHY
What is your philosophy on leadership? How will you manage your employees
day-to-day?
Hint: Refer to the discussion on leadership in Chapter 9 to help you formulate
your thoughts.

JOB DESCRIPTIONS
Looking back at your organizational chart in Part 2, create a job description
for each team member.
Hint: As you learned in Chapter 10, a job description lists the duties and
responsibilities of a job; its working conditions; and the tools, materials,
equipment and information used to perform it. Imagine your business on a
typical day. Who is working and what are each persons responsibilities?

JOB SPECIFICATIONS
Next, create a job specification for each job, listing the skills and other
credentials and qualifications needed to perform the job effectively.
Hint: As you write your job specifications, consider what you would write if
you were making an ad for the position. What would the new employee need to
bring to the job in order to qualify for the position? What are the needed
skills, credentials, and qualifications for the position.

TRAINING EMPLOYEES
What sort of training, will your employees need once they are hired? How will
you provide this training?
Hint: Refer to the discussion of training in Chapter 10. Will you offer your
employees on-the-job training? Off-the-job training? Vestibule
training?

COMPENSATION
A major factor in retaining skill workers is a companys compensation system.
The total package of rewards that it offers employees in return for their
labor. Part of this compensation system includes wages/salaries. What wages or
salaries will you offer for each job? Why did you decide on that pay rate?
Hint: Refer to Chapter 10 for more information on forms of compensation. You
may also want to check out sites like.salary.com/”>www.salary.com,
which includes a salary wizard you can use to determine how much people with
different job titles are making in your area and across the United States.

INCENTIVES
As you learned in Chapter 10, incentive programs are special programs designed
to motivate high performance. What incentives will you use to motivate your
workforce?
Hint: Be creative and look beyond a simple answer such as giving pay increases.
Ask yourself, who are my employees and what is important to them? Refer to
Chapter 10 for more information on the types of incentives you may want to
consider.
Business Plan Part 4
For
this assignment you will be answering the questions in Part 4 of the template.
When you are finished upload ONLY Part 4 of the project using the link below.
Be sure to save your work.

BUSINESS NAME
Please enter the name of your business at the top of part 4 of your business
plan.

TARGET MARKET
Describe your target market in terms of age, education level, income, and other
demographic variables.
Hint: Refer to Chapter 11 for more information on the aspects of target
marketing and market segmentation that you may want to consider. Be as detailed
as possible about who you think your ideal customer(s) will be.

PRODUCT/SERVICE FEATURES AND BENEFITS
Describe the features and benefits of your product or service.
Hint: As you learned in Chapter 11, a product is a bundle of attributes
(features and benefits). What features does your product have? What does it
look like and what does it do? How will your product benefit the buyer?

PRODUCT/SERVICE DIFFERENTIATION
How will you make your product or service stand out in the crowd?
Hint: There are many ways to stand out in the crowd, such as a unique product,
outstanding service, or a great location. What makes your great idea special?
Does it fill an unmet need in the marketplace? How will you differentiate your
product or service to make sure that it succeeds?

PRICING
What pricing strategy will you choose for your product or service, and what are
the reasons for this strategy?
Hint: Refer to Chapter 12 for more information on pricing strategies and
tactics. Since your business is new, so is the product or service. Therefore,
you probably want to choose between price skimming and penetration pricing.
Which will you choose, and why?

PLACE (DISTRIBUTION) ISSUES
Where will customers find your product or service? (That is, what issues of the
distribution mix should you consider?)
Hint: If your business will sell its product directly to consumers, what types
of retail stores will sell your product? If your product will be sold to
another business, which channel of distribution will you use? Refer to Chapter
12 for more information on aspects of distribution you may want to consider.

ADVERTISING
How will you advertise to your target market? Why have you chosen these forms
of advertisement?
Hint: Marketers use several different advertising mediaspecific communication
devices for carrying a sellers message to potential customers, each having its
advantages and drawbacks. Refer to Chapter 12 for a discussion of the types of
advertising media you may wish to consider here.

PROMOTIONS
What other methods of promotion will you use, and why?
Hint: Theres more to promotion than simple advertising. Other methods include
personal selling, sales promotions, publicity and public relations. Refer to
the discussion of promotion in Chapter 12 for ideas on how to promote your
product that go beyond just advertising.
Business Plan Part 5
For
this assignment you will be answering the questions in Part 5 of the template.
When you are finished upload ONLY Part 5 of the project using the link below.
Be sure to save your work.

BUSINESS NAME
Please enter the name of your business at the top of part 5 of your business
plan.

IT RESOURCES
What kind of IT resources will your business require?
Hint: Think about the employees in the business and what they will need in
order to do their jobs. What computer hardware and software will they need?
Will your business need a network and an Internet connection? What type of
network? Refer to Chapter 13 for a discussion on IT resources that you may want
to consider.

CUSTOMER SERVICES
How will you use information technology to keep track of your customers and
potential customers?
Hint: Many businesses (even small businesses) use databases to keep track of
their customers. Will your business require a database? What about other
information systems? Refer to Chapter 13 for more information on these topics.

COST OF DOING BUSINESS
What are the costs of doing business? Equipment, supplies, salaries, rent,
utilities, and insurance are just some of these expenses. Estimate what it will
cost to do business for one year. First, fiqure out the monthly cost for each
expense, then multiply that figure by 12 to get the yearly rate. Next, add up
all of the yearly rates of each expense to get the estimated total cost of
doing business for year one. Include all of the above infromation and
calculations in your plan.
Hint: The list below provides some hints as to where you can get this
information. Note that these are just estimates. Try your best to include
accurate costs for the expenses you think will be a part of doing business.
Hints for each expense:
Rent: Refer to the floor plan. How many square feet is your place of business?
What is the going rate per square foot for office space in your community? A
real estate agent or a local SBA representative (www.sba.gov) can also be
helpful in answering this question.
Salaries: Refer to part 3 of your business plan. How much will each employee
earn, including the owner(s)? How many hours will each employee be needed on a
weekly basis? Once youve determined the weekly cost, then expand it to a
monthly and a yearly cost.
Supplies: Refer to the floor plan. How much will all of the computers,
equipment, and furniture cost? What kinds of general office supplies will you
need? Most prices for this information can be found on an office supply website
such as www.staples.com.
Advertising and Other Promotions: Refer to your marketing section. You have
described how you wish to reach your customer, now you need to decide how much
it will cost. If you are using television, contact the sales department at a
local station. If you are using newspaper, contact their advertising
department. Salespeople are usually happy to answer your questions.
Utilities: These amounts will vary, depending on your business and what
utilities you will pay. If your business looks like an office, then this cost
may be similar to what a homeowner pays. However, if your business involves
making a product, then the costs will be significant. An SBA representative can
be a good resource.
Insurance: This value will be affected by the nature of the business. More
equipment will usually mean higher insurance costs. Again, contact an SBA
representative for feedback.
Other Expenses

EXPECTED REVENUE
How much will you charge for your product or service? How many products do you
believe that you can sell in one year or how many customers do you think your
business can provide your service to? Multiply the price that you will charge
by the number of products that you hope to sell or the amount you hope each
customer will spend on your service. This will give you an estimate of your
revenues for one year. Be as realistic as you can.

PROFIT OR LOSS
Subtract the cost of doing business (expenses) from your your expected revenue
(income). This is the profit or loss that you could expect in your first year
of business. It usually takes a business several months or even years before it
realizes a profit. When will your business breakeven? When will it make a
profit?

STARTUP COSTS
Approximately how much money will you need to get your business started?
Explain your answer. Remember that it can take several months or even years
before your business starts to make a profit. You will need funds to keep it
going during this time.

FINANCING
How will you finance your business? For example, will you seek out a bank loan?
Borrow from friends? Sell stocks or bonds initially or as your business grows?
Why did you choose the form(s) of financing?
Hint: Refer to Chapter 16 for information on securities such as stocks and bonds.
Refer also to Appendix I: Risk Management and Chapter 3 for more information on
sources of short-term and long-term funds.
Business Plan Part 6
For
this assignment you will be answering the questions in Part 6 of the template
below. When you are finished upload ONLY part 6 of the project using the link
Below. Be sure to save your work.

EXECUTIVE SUMMARY
Create an executive summary for your business plan. The executive summary
should be no more than two pages long in paragraph form. It should cover the
following points:
The name of your business
Where your business will be located
The mission of your business
The product or service you are selling
Who your ideal customers are
How your product or business will stand out in the crowd
Who the owners of the business are and what experience and education they have
An overview of the future prospects for your business and its industry
Hint: At this point, youve already answered almost all of these questions, so
what you need to do here is put the ideas together into a snapshot format.
The executive summary is really a sales pitch. It is the investors first
impression of your idea. Therefore, as with all parts of the plan, write it in
a clear and professional way.
After you have written the executive summary and submitted part 6 of your
business plan, you can copy and paste it so that it falls at the beginning of
your business plan, as the very first element. You should now have a completed
business plan for your idea.There are six parts
to the business plan. You will use the same business idea for all six parts of
the plan. The Business Plan Assignments can be found by clicking the link in
the chapters in which they are assigned. Answer the questions that make up each
part in the order that they are shown. Note that the template includes hints
that will help you answer each question. Once you are done answering the
question, you should delete the question and the tip, leaving just the heading
and your answer behind.Students who
successfully complete the plan have these two qualities in common:They
do not procrastinate. A well-written business plan cannot be written overnight,
as they require a good deal of thought and creativity. They also ask questions.
If a term is used in the business plan template that confuses you, check in
your textbook or ask your instructor for an explanation.Students
also like to know how many pages are needed for a good grade.A
good completed Business Plan normally requires between 10 to 12 pages. This
sounds like a lot, but most of the six sections will average about 2 pages.To complete this
assignment, you will need to use the Business Plan Template below. You must use
Microsoft Word to prepare your assignment. After you have completed the
assignment upload it using the link below. Do not include the questions and
hints provided in this template in your Business Plan. You should however
include the headings above each section to make your plan look more
professional and easier for me to read. Be sure to save your work. If you have
not done so already, please read the information about the Business Plan
assignment in the syllabus.

BUSINESS NAME
What is the name of your business?
Hint: When you think of the name of your
business, make sure that it captures the spirit of the business youre
creating.

DESCRIPTION OF BUSINESS
What will your business do?
Hint: Imagine that you are explaining your
business to a family member or a friend. The business should be easy to
explain.

FORM OF BUSINESS OWNERSHIP
What form of business ownership (sole
proprietorship, partnership, corporation, LLC, etc.) will your business take?
Why did you choose this form? What are the advantages and disadvantages?
Hint: For more information on the types of
business ownership, refer to the discussion of the different forms of business
ownership in Chapter 3.

IDEAL CUSTOMER
Describe your ideal customer. What are they
like in terms of age, income level, and so on?

OUR ADVANTAGES
Why will customers choose to buy from your
business, instead of your competition?
Hint: In this section, describe what will be
unique about your business. For example, is the product/service special, will
customer service be exceptional, or will you offer the product/service at a
lower price?

ETHICAL ISSUES
All businesses have to deal with ethical
issues. One way to address these issues is to create a code of ethics. Describe
three core (unchanging) principles that your business will follow.
Hint: To help you consider the ethical issues
that your business might face, refer to the discussion in Chapter 2.

SOCIAL RESPONSIBILITY
A business shows social responsibility by
respecting all of its stakeholders. Describe the approach to social
responsibility (proactive, accommodative, etc.) your business will take. What
steps will you take to create a socially responsible business? What steps can
you take to be a good citizen in the community? Consider also how you may need
to be socially responsible toward your customers and, if applicable, investors,
employees, and suppliers.
Hint: To help you consider issues of social
responsibility, refer to the discussion of social responsibility in Chapter 2.

GLOBAL ISSUES
Do you think that youll sell your product in
another country? If not. Why? If so, what countries would you choose, and why?
What challenges will you face?
Consider how you will expand internationally
(i.e. independent agent, licensing, etc.). Do you expect global competition for
your product? What advantages will foreign competitors have?Business Plan Part 2For this part of the Business Plan you will need to answer the
questions in Part 2 found below. When you are finished upload ONLY Part 2 of
the project using the link below. You will be using the
same business that you created for Part 1. Please add the name
of your business to the top of your assignment. Be
sure to save your work. If you have not done so already, please read
the information about the BusinessPlan assignment in the syllabus.

BUSINESS NAME
Please state the name of your business at the top of Part 2
of your business plan for me.

MISSION STATEMENT
Provide a mission statement for your business.
Hint: Refer to the discussion of mission statements in Chapter 5. Be sure to
include the name of your business, how you will stand out
fromyour competition, and why a customer will buy from you.

BUSINESS GOALS
Consider the goals for your business. What are three
of your business goals for the first year? What are two
intermediate to long-term goals?
Hint: Refer to the discussion of goal setting in Chapter 5. Be as specific and
realistic as possible with the goals you set. For example, if you plan on
selling a service, how many customers do you want by the end of the first year
and how much do you want each customer to spend? If you plan on selling a good,
how many do you hope to sell?

SWOT ANALYSIS
Perform a basic SWOT analysis for your business, listing its main strengths, weaknesses, opportunities,
and threats. Look around at yourworld.
The strengths and weakness are internal to
the business and are known as
the organizational analysis.
The opportunities and threatsare external to
the business and are known as the
environmental analysis.

MANAGEMENT
Who will manage the business?
Hint: Refer to the discussion of managers in Chapter 5. Discuss how many levels
of management as well as what kinds of managers yourbusiness needs.

ORGANIZATION STRUCTURE
Explain how the team fits together. Describe who will work for each manager
as well as each persons job title.
Hint: Most businesses start off quite small. However, as you describe your organization,
consider what your business will look like in the
future. What different tasks are involved in the business? Who will each
person report to in the organizational structure? Refer to the discussion
of organizational structure in Chapter 6 for information to get you
started.

FLOOR PLAN
Describe the floor plan of the business. What does it look like
when you walk through the door?
Hint: When describing your floor plan, consider where equipment,
supplies, and furniture will be located.

RAW MATERIALS AND SUPPLIES
Explain what types of raw materials and supplies you will need to
run your business. How will you produce your good or
service? What equipment do you need? What hours will you operate?
Hint: Refer to the discussion of operations in Chapter 7 for information to get
you started.

QUALITY ASSURANCE
What steps will you take to ensure that the quality of the product or service
stays at a high level? Who will be responsible for maintaining the quality of
the product or service (or both)?
Hint: Refer to the discussion of quality improvement and Total Quality
Management in Chapter 7 for information to get you startePART3For this assignment you will
need to answer the questions in Part 3 below. When you are finished upload ONLY
Part 3 of the project using the link below. Please add the name of your
business to the top of the assignment. Be sure to save your work.

BUSINESS NAME
Please add the name of your business to the top of Part 3 of your business
plan.

CORPORATE CULTURE
What do you see as the corporate culture of your business? What types of
employee behaviors, such as organizational citizenship, will you expect?
Hint: Will your business demand a casual environment or a more professional
environment? Refer to the discussion on employee behavior in Chapter 8 for
information on organizational citizenship and other employee behaviors.

LEADERSHIP PHILOSOPHY
What is your philosophy on leadership? How will you manage your employees
day-to-day?
Hint: Refer to the discussion on leadership in Chapter 9 to help you formulate
your thoughts.

JOB DESCRIPTIONS
Looking back at your organizational chart in Part 2, create a job description
for each team member.
Hint: As you learned in Chapter 10, a job description lists the duties and
responsibilities of a job; its working conditions; and the tools, materials,
equipment and information used to perform it. Imagine your business on a
typical day. Who is working and what are each persons responsibilities?
JOB SPECIFICATIONS
Next, create a job specification for each job, listing the skills and other
credentials and qualifications needed to perform the job effectively.
Hint: As you write your job specifications, consider what you would write if
you were making an ad for the position. What would the new employee need to
bring to the job in order to qualify for the position? What are the needed
skills, credentials, and qualifications for the position.

TRAINING EMPLOYEES
What sort of training, will your employees need once they are hired? How will
you provide this training?
Hint: Refer to the discussion of training in Chapter 10. Will you offer your
employees on-the-job training? Off-the-job training? Vestibule
training?

COMPENSATION
A major factor in retaining skill workers is a companys compensation system.
The total package of rewards that it offers employees in return for their
labor. Part of this compensation system includes wages/salaries. What wages or
salaries will you offer for each job? Why did you decide on that pay rate?
Hint: Refer to Chapter 10 for more information on forms of compensation. You
may also want to check out sites like.salary.com/”>www.salary.com,
which includes a salary wizard you can use to determine how much people with
different job titles are making in your area and across the United States.

INCENTIVES
As you learned in Chapter 10, incentive programs are special programs designed
to motivate high performance. What incentives will you use to motivate your
workforce?
Hint: Be creative and look beyond a simple answer such as giving pay increases.
Ask yourself, who are my employees and what is important to them? Refer to
Chapter 10 for more information on the types of incentives you may want to
consider.For
this assignment you will be answering the questions in Part 4 of the template.
When you are finished upload ONLY Part 4 of the project using the link below.
Be sure to save your work.

BUSINESS NAME
Please enter the name of your business at the top of part 4 of your business
plan.

TARGET MARKET
Describe your target market in terms of age, education level, income, and other
demographic variables.
Hint: Refer to Chapter 11 for more information on the aspects of target
marketing and market segmentation that you may want to consider. Be as detailed
as possible about who you think your ideal customer(s) will be.

PRODUCT/SERVICE FEATURES AND BENEFITS
Describe the features and benefits of your product or service.
Hint: As you learned in Chapter 11, a product is a bundle of attributes
(features and benefits). What features does your product have? What does it
look like and what does it do? How will your product benefit the buyer?

PRODUCT/SERVICE DIFFERENTIATION
How will you make your product or service stand out in the crowd?
Hint: There are many ways to stand out in the crowd, such as a unique product,
outstanding service, or a great location. What makes your great idea special?
Does it fill an unmet need in the marketplace? How will you differentiate your
product or service to make sure that it succeeds?

PRICING
What pricing strategy will you choose for your product or service, and what are
the reasons for this strategy?
Hint: Refer to Chapter 12 for more information on pricing strategies and
tactics. Since your business is new, so is the product or service. Therefore,
you probably want to choose between price skimming and penetration pricing.
Which will you choose, and why?

PLACE (DISTRIBUTION) ISSUES
Where will customers find your product or service? (That is, what issues of the
distribution mix should you consider?)
Hint: If your business will sell its product directly to consumers, what types
of retail stores will sell your product? If your product will be sold to
another business, which channel of distribution will you use? Refer to Chapter
12 for more information on aspects of distribution you may want to consider.

ADVERTISING
How will you advertise to your target market? Why have you chosen these forms
of advertisement?
Hint: Marketers use several different advertising mediaspecific communication
devices for carrying a sellers message to potential customers, each having its
advantages and drawbacks. Refer to Chapter 12 for a discussion of the types of
advertising media you may wish to consider here.

PROMOTIONS
What other methods of promotion will you use, and why?
Hint: Theres more to promotion than simple advertising. Other methods include
personal selling, sales promotions, publicity and public relations. Refer to
the discussion of promotion in Chapter 12 for ideas on how to promote your
product that go beyond just advertising.For
this assignment you will be answering the questions in Part 5 of the template.
When you are finished upload ONLY Part 5 of the project using the link below.
Be sure to save your work.

BUSINESS NAME
Please enter the name of your business at the top of part 5 of your business
plan.

IT RESOURCES
What kind of IT resources will your business require?
Hint: Think about the employees in the business and what they will need in
order to do their jobs. What computer hardware and software will they need?
Will your business need a network and an Internet connection? What type of
network? Refer to Chapter 13 for a discussion on IT resources that you may want
to consider.

CUSTOMER SERVICES
How will you use information technology to keep track of your customers and
potential customers?
Hint: Many businesses (even small businesses) use databases to keep track of
their customers. Will your business require a database? What about other
information systems? Refer to Chapter 13 for more information on these topics.

COST OF DOING BUSINESS
What are the costs of doing business? Equipment, supplies, salaries, rent,
utilities, and insurance are just some of these expenses. Estimate what it will
cost to do business for one year. First, fiqure out the monthly cost for each
expense, then multiply that figure by 12 to get the yearly rate. Next, add up
all of the yearly rates of each expense to get the estimated total cost of
doing business for year one. Include all of the above infromation and
calculations in your plan.
Hint: The list below provides some hints as to where you can get this
information. Note that these are just estimates. Try your best to include
accurate costs for the expenses you think will be a part of doing business.
Hints for each expense:
Rent: Refer to the floor plan. How many square feet is your place of business?
What is the going rate per square foot for office space in your community? A
real estate agent or a local SBA representative (www.sba.gov) can also be
helpful in answering this question.
Salaries: Refer to part 3 of your business plan. How much will each employee
earn, including the owner(s)? How many hours will each employee be needed on a
weekly basis? Once youve determined the weekly cost, then expand it to a
monthly and a yearly cost.
Supplies: Refer to the floor plan. How much will all of the computers,
equipment, and furniture cost? What kinds of general office supplies will you
need? Most prices for this information can be found on an office supply website
such as www.staples.com.
Advertising and Other Promotions: Refer to your marketing section. You have
described how you wish to reach your customer, now you need to decide how much
it will cost. If you are using television, contact the sales department at a
local station. If you are using newspaper, contact their advertising
department. Salespeople are usually happy to answer your questions.
Utilities: These amounts will vary, depending on your business and what
utilities you will pay. If your business looks like an office, then this cost
may be similar to what a homeowner pays. However, if your business involves
making a product, then the costs will be significant. An SBA representative can
be a good resource.
Insurance: This value will be affected by the nature of the business. More
equipment will usually mean higher insurance costs. Again, contact an SBA
representative for feedback.
Other Expenses

EXPECTED REVENUE
How much will you charge for your product or service? How many products do you
believe that you can sell in one year or how many customers do you think your
business can provide your service to? Multiply the price that you will charge
by the number of products that you hope to sell or the amount you hope each
customer will spend on your service. This will give you an estimate of your
revenues for one year. Be as realistic as you can.

PROFIT OR LOSS
Subtract the cost of doing business (expenses) from your your expected revenue
(income). This is the profit or loss that you could expect in your first year
of business. It usually takes a business several months or even years before it
realizes a profit. When will your business breakeven? When will it make a
profit?

STARTUP COSTS
Approximately how much money will you need to get your business started?
Explain your answer. Remember that it can take several months or even years
before your business starts to make a profit. You will need funds to keep it
going during this time.

FINANCING
How will you finance your business? For example, will you seek out a bank loan?
Borrow from friends? Sell stocks or bonds initially or as your business grows?
Why did you choose the form(s) of financing?
Hint: Refer to Chapter 16 for information on securities such as stocks and bonds.
Refer also to Appendix I: Risk Management and Chapter 3 for more information on
sources of short-term and long-term funds.For
this assignment you will be answering the questions in Part 6 of the template
below. When you are finished upload ONLY part 6 of the project using the link
Below. Be sure to save your work.

EXECUTIVE SUMMARY
Create an executive summary for your business plan. The executive summary
should be no more than two pages long in paragraph form. It should cover the
following points:
The name of your business
Where your business will be located
The mission of your business
The product or service you are selling
Who your ideal customers are
How your product or business will stand out in the crowd
Who the owners of the business are and what experience and education they have
An overview of the future prospects for your business and its industry
Hint: At this point, youve already answered almost all of these questions, so
what you need to do here is put the ideas together into a snapshot format.
The executive summary is really a sales pitch. It is the investors first
impression of your idea. Therefore, as with all parts of the plan, write it in
a clear and professional way.
After you have written the executive summary and submitted part 6 of your
business plan, you can copy and paste it so that it falls at the beginning of
your business plan, as the very first element. You should now have a completed
business plan for your idea.

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