CMR242 Miami University Business Proposal/Critical Thinking

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timer Asked: Feb 5th, 2019
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Question Description

1. BP Proposal: Your Start- Up Business

For this class, you will be ‘starting’ a business of your choosing, so you must decide what business you are interested in and submit a proposal with a brief description for approval.
The constraints in selecting your business include:

  • Your business must NOT be a seasonal business.
  • You cannot use a franchise.
  • Your business cannot be an ‘Online’ business.
  • Your business must be a for-profit business.
  • You must have face to face interaction with your customer.
  • You cannot change your business choice after it is approved.

Be sure to select a business that you are interested in, as you will be doing research all semester on this particular industry.

Submit your proposal as a short memo (business format) describing what your business will be, where you will be located and any additional details such as; will it be a home based business or storefront?

Your business MUST be approved by me.

BE SURE TO COMPLETE THIS ASSIGNMENT AS WELL!

2. Complete Key Concept Questions in back of text chapter:

  • 2-6: Explain why a prospective business founder might want to create a feasibility study or Business Model Canvas before developing a complete business plan.
  • 2-7: How can spending time researching and writing a business plan save an entrepreneur time and money in the short and long term?
  • 2-9: Explain why the executive summary is the most important section of any business plan.

Tutor Answer

agneta
School: UC Berkeley

Attached.

Pearl’s Private Event Planning Business Plan
06/02/2019
Pearl’s Private Event Planning will be a for-profit business that will be offering event planning
services to clients who prefer having private occasions in the comfort of their homes or small acquired
spaces in their home yards. The events will include birthday parties, bridal showers, baby showers,
graduation parties, and other family celebrations. The business will be located in Venice, California and it
will be operating as a home-based business. The business has seen the need for encouraging people to
maximize the small spaces they have for their private occasions to minimize the cost of renting space.
Clients will also enjoy the serene beauty that their spaces could offer.

Pearl’s Private Event Planning
1183 Nelrose Avenue
Venice, California, 90291
310 505 8971
www.pearlsprivent.com
pearls@privent.com

Confidentiality Agreement

The undersigned reader acknowledges that any information provided by
_________________________ in this business plan, other than information that is in the public
domain, is confidential in nature, and that any disclosure or use of same by the reader may cause serious
harm or damage to ________________________. Therefore, the undersigned agrees not to disclose
it without express written permission from ________________________________.
Upon request, the undersigned reader will immediately return this document to
___________________________.

___________________
Signature
___________________
Name (typed or printed)
___________________
Date
This is a business plan. It does not imply an offering of securities.

2

Table of Contents
Confidentiality Agreement ..........................................................................................................................2
I. Executive Summary ..................................................................................................................................4
Executive Summary ..............................................................................................................................................................................................5
II. Company Description ..............................................................................................................................6
Company Description Worksheet ....................................................................................................................................................................7
III. Products & Services ................................................................................................................................8
Product & Service Description Worksheet ....................................................................................................................................................9
IV. Marketing Plan ......................................................................................................................................10
SWOT Analysis Worksheet ............................................................................................................................................................................. 11
Competitor Data Collection Plan ................................................................................................................................................................... 13
Competitive Analysis Worksheet ................................................................................................................................................................... 14
Marketing Expenses Strategy Chart ............................................................................................................................................................. 16
Pricing Strategy Worksheet ............................................................................................................................................................................. 18
Distribution Channel Assessment Worksheet ............................................................................................................................................ 20
V. Operational Plan ....................................................................................................................................22
VI. Management & Organization ..............................................................................................................24
Management Worksheet................................................................................................................................................................................. 25
Organization Chart ............................................................................................................................................................................................ 26
VII. Startup Expenses & Capitalization ....................................................................................................27
VIII. Financial Plan ......................................................................................................................................28
IX. Appendices............................................................................................................................................30
X. Refining the Plan ....................................................................................................................................31
Now That You’re (Almost) Finished . . . ..................................................................................................33

3

I. Instructions: Executive Summary
The Executive Summary is the most important part of your business plan. Often, it’s the only part that a
prospective investor or lender reads before deciding whether or not to read the rest of your plan. It should
convey your enthusiasm for your business idea and get readers excited about it, too.
Write your Executive Summary LAST, after you have completed the rest of the business plan. That way, you’ll
have thought through all the elements of your startup and be prepared to summarize them.
The Executive Summary should briefly explain each of the below.
1. An overview of your business idea (one or two sentences).
2. A description of your product and/or service. What problems are you solving for your
target customers?
3. Your goals for the business. Where do you expect the business to be in one year, three years,
five years?
4. Your proposed target market. Who are your ideal customers?
5. Your competition and what differentiates your business. Who are you up against, and
what unique selling proposition will help you succeed?
6. Your management team and their prior experience. What do they bring to the table that
will give your business a competitive edge?
7. Financial outlook for the business. If you’re using the business plan for financing purposes,
explain exactly how much money you want, how you will use it, and how that will make your
business more profitable.
Limit your Executive Summary to one or two pages in total.
After reading the Executive Summary, readers should have a basic understanding of your business, should be
excited about its potential, and should be interested enough to read further.
After you’ve completed your business plan, come back to this section to write your executive summary on
the next page.

4

Executive Summary

(Write after you’ve completed the rest of the business plan.)

5

II. Instructions: Company Description
This section explains the basic elements of your business. Include each of the below:
1. Company mission statement
A mission statement is a brief explanation of your company’s reason for being. It can be as short as a
marketing tagline (“MoreDough is an app that helps consumers manage their personal finances in a fun,
convenient way”) or more involved: (“Doggie Tales is a dog daycare and grooming salon specializing in
convenient services for urban pet lovers. Our mission is to provide service, safety and a family atmosphere, enabling
busy dog owners to spend less time taking care of their dog’s basic needs and more time having fun with their
pet.”) In general, it’s best to keep your mission statement to one or two sentences.
2. Company philosophy and vision
a. What values does your business live by? Honesty, integrity, fun, innovation and community are values
that might be important to your business philosophy.
b. Vision refers to the long-term outlook for your business. What do you ultimately want it to
become? For instance, your vision for your doggie day-care center might be to become a national
chain, franchise or to sell to a larger company.
3. Company goals
Specify your long- and short-term goals as well as any milestones or benchmarks you will use to measure
your progress. For instance, if one of your goals is to open a second location, milestones might include
reaching a specific sales volume or signing contracts with a certain number of clients in the new market.
4. Target market
You will cover this in-depth in the Marketing P...

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