A good business plan guides you through each stage of starting and managing your business.
A good business plan guides you through each stage of starting and managing your business.
You'll use your business plan like a GPS for how to structure, run, and grow your new business. It's a way to think through and detail all the key elements of how your business will run. Please review the attached business plan to organize your company's information.
Shark Tank Example 1
Shark Tank Example 2 view the example but at this assignment only
Fill just the outline:
Student Business Plan Template - Outline
I. Introductory Elements
a. Make a Title Page
II. Description of Business and Product
a. Please describe your business and the product you plan to sell
III. Evaluation of Market Opportunity
a. What are the Market Trends of your product? (if applicable)
(What do your customers like to buy?)
b. Who are your Customers?
c. Who is your Competition?
d. Why is your product going to be different? (Why will people buy from you?)
IV. Description of Development and Production
a. How are you going to get your product to customers?
b. Logistics (where will your product be sold?)
V. Sales and Marketing Strategy
a. Product - Why is this product needed? (list 3-5 features and benefits)
b. Price - How much will be charged and why?
c. Promotion - How will this product be marketed to the target audience? (social media/TV/radio)
d. Place - Where will product be sold? (locally/across the U.S./globally)
VI. Management and Operations Plan
a. Team Member Bios / Skills
VII. Financials (5 marks)
a. Economics of one Unit (How much does it cost us for one item?)
b. Fixed and Variable Costs (what other costs are there?)
c. Break Even Analysis (how many do we need to sell at our price to break even?)
d. Start Up Costs (How much money will we need to start our business?)
VIII. Optional Appendices (up to 5 bonus marks!)
a. Timeline for Business
b. Sample ads; product drawings; prototypes
Sample Solution
Business Plan Outline: [Your Company Name]
I. Introductory Elements
a. Title Page
- Company Name: [Your Company Name]
- Tagline/Slogan: (Optional) A brief and catchy phrase that summarizes your company's essence.
- Author(s): Your name(s)
- Date:
Full Answer Section
Description of Business and Product
a. Business Description:
- What is your business?
- What problem are you solving or what need are you fulfilling?
- What are your core values and mission statement?
b. Product Description:
- What product(s) or service(s) do you offer?
- What are the key features and benefits of your product(s)?
- What makes your product(s) unique and different from competitors?
III. Evaluation of Market Opportunity
a. Market Trends:
- What are the current trends in your target market?
- What are the opportunities and challenges presented by these trends?
b. Target Customers:
- Who are your ideal customers?
- What are their needs, wants, and pain points?
- How large is your target market?
c. Competitive Analysis:
- Who are your main competitors?
- What are their strengths and weaknesses?
- How will you differentiate your product(s) from the competition?
d. Competitive Advantage:
- What are your unique selling propositions (USPs)?
- Why will customers choose your product(s) over the competition?
IV. Description of Development and Production
a. Development Process:
- How will you develop and produce your product(s)?
- What resources and skills are required?
- What are the timelines and milestones for development?
b. Production Process:
- How will your product(s) be manufactured or produced?
- Who will be your suppliers and vendors?
- What are the costs associated with production?
c. Logistics:
- How will you get your product(s) to customers?
- What channels will you use for distribution?
- What are the logistics costs involved?
V. Sales and Marketing Strategy
a. Product Features and Benefits:
- List 3-5 key features and benefits of your product(s) that address customer needs and pain points.
b. Pricing Strategy:
- How will you price your product(s)?
- What factors will you consider when setting prices?
- What pricing strategy will you use (e.g., cost-plus, market-based, value-based)?
c. Promotion Strategy:
- How will you promote your product(s) to your target audience?
- What marketing channels will you use (e.g., social media, advertising, public relations)?
- What is your budget for marketing?
d. Distribution Strategy:
- Where will you sell your product(s)?
- Will you sell directly to customers or through intermediaries?
- What are the costs associated with your distribution strategy?
VI. Management and Operations Plan
a. Team Members:
- Who are the key members of your team?
- What are their roles and responsibilities?
- What skills and experience do they bring to the team?
b. Organizational Structure:
- What is the organizational structure of your company?
- How will decisions be made and implemented?
- How will communication and collaboration be managed?
VII. Financials
a. Unit Economics:
- What is the cost of producing one unit of your product(s)?
- What is the profit margin per unit?
b. Fixed and Variable Costs:
- What are your fixed costs (e.g., rent, utilities, salaries)?
- What are your variable costs (e.g., materials, labor)?
c. Break-Even Analysis:
- How many units do you need to sell to break even?
d. Startup Costs:
- How much money do you need to start your business?
- What are the sources of your funding?
VIII. Optional Appendices
a. Timeline for Business:
- A timeline outlining key milestones and deadlines for your business.
b. Sample Ads; Product Drawings; Prototypes:
- Visual representations of your product(s) and marketing materials.
Notes:
- This is a template and can be modified to fit the specific needs of your business.
- Each section should be expanded upon with detailed information and supporting data.
- The word count is estimated and can be adjusted depending on the complexity of your business plan.