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Business Plan

BUSINESS PLAN



Design a business plan for you and three classmates. Answer the following questions

1.    What Business Am I In

2.    Your Target Market,

3.    Pricing

4.    Store Front and Layout, and

5.    Advertising.

BUSINESS PLAN QUESTIONS

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

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

2.    What is your product, or service?

3.    Who will buy it?

4.    Where should you locate the business?

5.    How can you attract customers?

6.    What is your competition?

7.    How much should you charge for the products or service?

8.    What advice do you need and who can provide it?

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

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

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

12.How much money is needed to get the business started?

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

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

15.What are your operating costs? (Include your own salary)

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

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

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

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

20.How will you make the business grow in the future?

Ideas for Starters

You might want to think about some of the following types of business to get your business plan "thinking processes" moving:

• Lemonade stand
• Refreshment stand at local games
• Child care
• Hot dog stand
• Yard care
• Developing a web page for others
• 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.)

QUESTIONS FOR CREATIVE THINKING

Use some of the following questions to guide your thinking about starting a business:

A. What kind of business would you start if you and two classmates had access to a loan for $10, 000?

B. What kind of business could you start if you want to do business with another country?

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

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