Beauty Supply Store Business Plan

Content Type

User Generated

User

TnelObaqfFe

Subject

Writing

Course

ENT301 Entrepreneurship

School

Saint Leo University

Description

I need a 20 page Business Plan for my Beauty Supply Project. I need it by Apr 20th. Using gharts and graphs and the information from the Active Learning Assignments. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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MBA 597 Entrepreneurship Business Plan Guidelines and Rubric As your final project for this course, you will construct a well-developed plan to launch a business of your choice. In order to successfully complete this assignment, students must demonstrate both a dedication to the creation of a new business venture and a commitment to the entrepreneurial process. This project should also demonstrate your comprehension and application of concepts and theories that you will study in this course. Your plan should be detailed, methodical, comprehensive, and based on a thorough analysis and interpretation of your research. Finalizing your plan will take many hours, great will, and determination to succeed. In addition to the essay discussing the plan, the project should also include your charts, graphs, matrices, and assessments as appendices to the essay. Based on the work you produce with the Active Learning Exercises, create one cohesive document to present your business plan. The final project should reflect the feedback you receive from the professor’s review of the Active Learning Exercises. Remember that your research is critical for the support of every aspect of your analysis. Follow APA to format the essay and to cite your sources in-text and on the Reference page. At a minimum, the paper should consist of the following components:             Discuss and analyze your personal profile and your suitability for entrepreneurship; explain how your personal values or ethical standards relate to your profile and your business venture. Explain your assessment of the risk level or failure rate of new businesses in your industry; discuss how you will mitigate these risks to achieve success. Discuss how you will ensure your intellectual property rights and those of your business are adequately protected. Following Scarborough & Cornwall’s (2016) nine-step process, explain a thorough strategic analysis of your business venture. Explain the feasibility analysis of your business. Following the guidance provided on pages 242-244 of Scarborough & Cornwall (2016), discuss your due diligence study of a business similar to yours. Discuss the “fair value” of your business venture; explain the process you used to determine this value. Discuss the bootstrap marketing strategy for your business venture. Include a discussion of your pricing strategies for your products or services. Explain the most appropriate form of ownership for your business. Explain why this form of ownership is appropriate for you and your firm. Explain, in detail, any e-commerce opportunities that your firm could effectively and profitably pursue. Construct a detailed cash budget and all relevant pro forma financial statements for your business. Project your cash flow analysis on a monthly basis for the first two years. Explain what these statements tell you about the financial viability of your business venture. Explain both the amount and the sources of financial capital that your business venture will require. Detail the specific terms and conditions associated with each type of funding. Include a cover page, executive summary, reference page, and appendices. Submit your final paper electronically to in the Dropbox on the due date assigned. Follow APA guidelines to format your paper and to cite your sources. Use headings and subheadings to organize your work. Use the following guidelines to develop your project:      The Saint Leo library online database should be your best resource for your research. Strive for excellence in writing and in the technical preparation of your project. Plan to use charts, graphs, tables, or other diagrams to develop your project and to illustrate your analyses and conclusions. Do not merely recite research, ratios or figures. Your analysis should explain what the numbers mean, why they are important, and why they are relevant for your analysis. Develop ideas and conclusions concerning possible trends. Show the relevance of figures, research, or statistics for your corporation. Support your conclusions, reasoning, and judgment with factual data. This essay will be evaluated on the following criteria:  The Business Plan should be feasible.  The paper should demonstrate critical thinking; original ideas and insights; an understanding of the assignment; and comprehension of course concepts.  The essay should be well organized using headings and subheadings.  The essay should reflect well-developed paragraphs, with sound structure, grammar, punctuation and spelling in sentences and paragraphs.  The essay should follow the APA style guide; include a cover page, executive summary, a reference page, and appendices.  The reference page should list all of the sources mentioned in the essay.  It is expected that you will include appendices to illustrate and support your analyses and conclusions.  The paper should be presented in the following format: MS Word, double-spaced, 1” margins on all sides, Times New Roman, 12 font. Business Plan Rubric: Student Name: _________________ Points Possible Overall Content—Business plan is feasible. The plan demonstrates critical thinking, analytical reasoning, original ideas and insights; demonstrates depth, an understanding of the assignment, and comprehension of course concepts. Profile of the Entrepreneur—Discussion and analysis of the entrepreneur and your suitability for entrepreneurship; explains how your personal values and ethics relate to the business venture. Profile of the Business Venture—Discussion of the type and form of business being proposed: proposed location; products and services; organizational structure; risk level; protection of intellectual property rights; fair value. Strategic Analysis—Nine-step strategic analysis, feasibility analysis, and due diligence study. Marketing Plan—Bootstrap marketing strategy; pricing strategies for products and services; ecommerce opportunities. Form of Ownership—Discussion of the most appropriate form of ownership for the business. Financial Analysis—Detailed cash budget and all relevant pro forma financial statements; 2-year projected cash flow analysis; amount and sources of financial capital. Research and Resources—Essay supported by reputable and credible sources. Research supports the feasibility of the business plan and is effectively synthesized and integrated with the essay. All research is properly cited in text and on the reference page according to APA guidelines. Writing and Format—Ideas flow and relate in a clear, logical order; information is organized within sentences and paragraphs. Writing is free of spelling or grammar errors; reflects graduate-level writing mechanics. The essay is formatted according to the guidelines of the assignment: minimum length, proper font, margins and spacing, well-developed paragraphs, effective organization using headings; follows APA formatting. Total 10 10 10 15 10 10 15 10 10 100 Points Earned Notes
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Explanation & Answer

Hello,Attached find is the completed work. I did a thorough research on the subject and hopefully I attained the correct answer. Have a look at it and let me know how you feel about it.NOTE: Please consider releasing the money once you have reviewed the answer.Thanks and all the best😎.

Running head: BEAUTY SUPPLY SHOP

1

Beauty Supply Shop
Name
Institutional Affiliation

BEAUTY SUPPLY SHOP

2

Executive Summary
At this particular point in time, entrepreneurship has proven to be the key to a successful life and
the main reason for this is because we can see that the most successful people in the world are
the ones who decided to follow their dreams by starting their own business ventures. This is also
the reason as to why I have decided to step up and start my own business so as to create
opportunities for myself and other people out there. The main objective of this particular
document is to point out my business venture which is to start a beauty supply shop and also to
state the main methods that I will use so as to make my business successful in the future. The
document is a business plan for my business venture that will always help me and my business to
head in the right direction during my business creation journey.

BEAUTY SUPPLY SHOP

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Beauty Supply Shop
Personal Profile
In my own opinion, I believe I am suitable to be in the field of entrepreneurship and the
reason for this is because I have always believed in the concept of being your own boss. I hate
being employed and that is why I always wanted to start my own business and do my own things
without being commanded around by other people (Chen et al., 2018). Other than this my main
intention of building my own business, so as to create opportunities for myself and other people
out there who may need a job from me. My parents have been entrepreneurs all their lives and I
think I have inherited that from them. I love fashion and design which also comes with beauty in
it and this is the main reason I have chosen to start a beauty product business. My love for
beauty, fashion and design are what has driven me into this particular business venture since it is
much easier and cheaper to start a beauty shop business rather than starting an entire fashion and
design empire. I was born in a family that really emphasized on entrepreneurship and I think is
the main reason as to why I really treasure being into business rather than being employed. My
mother runs a beauty shop of her own and through this, I gained some important tips for the
business and also connections in the sided of supply and demand. So, think with this, I think it
will be easier for me to run the beauty shop and make it successful since I have experience in the
business venture.
Risk Level
In everything we decided to undertake in life, it usually involves a lot of risks and the
reason as to why I am emphasizing on this is because nobody can predict the future (Chen et al.,
2018). You really do not know if things will work out the way you expect them to work out or if
they will fail in the process. But all in all, you have to believe in yourself and start venturing in

BEAUTY SUPPLY SHOP

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whatever you want to do in life. In the beauty industry, there is a lot of competition because of
the high number of companies that are manufacturing and supplying beauty products out there.
This means that there is a barrier to entry for new entrepreneurs because of the high competition
level in the marketplace. Chances are that many new companies or new entrepreneur in this
particular industry will not make it. That is if you do not have a plan for your business and also if
you are not innovative enough to come up with a new product that is unique in the industry and
that can fully satisfy the needs and wants of the customers.
In my case, I believe I will make it in this particular industry because it is my passion and
dream and also what will make me mitigate the failure rate and risk factors, is the fact that I will
offer a new and original natural beauty product that is unique and of high quality (Chen et al.,
2018). This will definitely help me to penetrate the market because I have come up with a new
product that was not there before.
Intellectual Property
When it comes to intellectual property for my business venture, I will ensure that the
name of the business, products, and also the creative that is involved in manufacturing my
products are all registered by the government so as to prevent any form of misunderstandings
and inconveniences that might occur in the process of building my business. Registering all of
this will ensure that my intellectual property rights are protected at all times.
Nine step
Vision & Mission Statement
At this particular point in time, the beauty supply industry has become a multi-billion
dollar industry and the main reason for this is because of the social media sites that people from
all over the world are normally using on a daily basis (Chen et al., 2018). Social media sites have

BEAUTY SUPPLY SHOP

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become a way of life for many people especially the celebrities and as a result of this, we
normally see many celebrities posting their photos on social media in a way that shows the
various beauty products they are using and as a result of this their followers tend to imitate what
they are doing. This has made the beauty industry to grow tremendously because many people
are now purchasing the beauty products in order for them to look and live the same life as the
celebrities they admire (Chen et al., 2018). This is a clear indication that social media has been
the main source that has led to the tremendous growth of the beauty industry. On the other hand,
one important factor to consider is the fact that 98% of the income going into the beauty business
usually comes from the black people or the black dollar but only 2% of the black people own
beauty supply stores. In regards to this, my vision is to build a business model that will ensure
that we take back some of the beauty supply markets so that the black dollar can also revolve
back to the black community so as to raise the living standards of our people. I have nothing
personal against anyone but as we can see the Asians have actually taken over the beauty supply
market and because of this, my mission is to ensure that we take back our market since most of
the money in this particular business is from the black people and not the Asians themselves.
Company Strengths & Weaknesses
Strengths
Niche Marketing
Owning a small store that sells certain beauty and cosmetic products is much easier and
profitable and compared to a big company that may want to only focus on a certain niche in the
beauty industry. This is because the profits could be too low for the big companies but for a
small cosmetic shop the profit could end up being big.
Personalized Client Service

BEAUTY SUPPLY SHOP

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It is possible to provide personalized services to the clients by giving them instructions on
how to use the products so as to match their type of skin and as a result of this, it usually leads to
high-profit-margin to the owner of the firm (Chen et al., 2018).
Easy and Simple to Showcase
It is easy to showcase the beauty products as compared to other kinds of industries and
the reason for this is because the showcase of a product can be made possible through packaging
or photos of real people who are using the product which usually leads to more profits if many
people end up liking a product.
Weaknesses
Competition
At this particular point, the beauty industry has been conside...