Business Idea Plan Report

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fvfu1990

Business Finance

Description

Write a business plan report using the following structure:

  • The Executive summary
    • Name of the Business
    • Opportunity / statement of problem
    • Brief description about the product or service
    • Capital and price
    • Brief about Marketing plan
  • Description of the business
    • The mission and objectives of business
    • The name of the business-Brand name
    • The legal status of business
    • Detailed explanation of the product or service
    • Why people buy this product or service
    • What is your USP
  • Human resources
    • Owner and partner’s qualification, technical skills, and experience
    • An organization chart
    • Human resources duties and responsibilities
  • Marketing plan
    • Market research
    • Marketing strategy ( Place; Product; Price ; Promotion )
    • Competitive Analysis
  • Operation plan
    • Preparing for Business ( rules and regulation to start business)
    • Operation process
    • Plant and equipment ( cost and suppliers)
    • Delivery to customers
    • Technology used
  • Capital and financial plan
    • Capital size
    • Capital sources
    • Government support programs
    • Fixed cost
    • Variable cost
    • Startup cost
    • Explanations of costs
    • Projected and explanation of cash flow
    • Break even analysis

*** Word count: 1500 words.

*** In-Text Citation and References using Harvard style.

*** An attachment related to the report has been uploaded.

Unformatted Attachment Preview

MNGT100 Business Idea Report (15%) Submission date: Week 8 Part 1: DESCRIPTION OF THE BUSINESS 1|Page Month:10 /YEAR2022 NAME OF THE BUSINESS IDEA: Training institute COMMERCIAL NAME OF THE BUSINESS: Great Bonding Wall Location: Muscat, AlKhuwair With the growing knowledge of entrepreneurs and students in Chinese language, the Omani trade is flourishing with China because of the proficiency of the entrepreneurs of this language and the efficiency of dealing with Chinese traders, in addition to increasing the knowledge and culture of students in this language and preparing them for trade in the future. Economic relations between Oman and china have existed since ancient times and are still in close and continuous contact so far however there are no institutes to learn Chinese language and trade relations from this point of view we will setup an institute to learn Chinese language and trade relations to facilitate the transaction and earn more profits so we need it because of the high cost of translators and the inability sometimes to manage and solve some commercial problems. Deals with the economic variables between the Omani and Chinese markets and facilitate the process of trade exchange between the two countries. Project goals: 1 - provide employment opportunities for the two. 2 - encourage young people to trade in China. 3 - identify a new culture. 2|Page Provide Chinese language service 2 Teaching: The project will provide the following services method of dialogue and business dealings with China4 - Teaching principles of trade. Our project will be a commercial partnership between two people. The location of our project in Al Khuwair and the building will be a design inspired by the Omani and Chinese heritage. The two-storey building will contain training halls equipped with the latest high-quality displays with adaptations in these halls, this room will be dedicated to the practical application of how to deal with merchants. We are not alone, but distinguished because we offer suitable prices and strategic location, in addition to the fact that we have easy ways to facilitate education, that we have methods and methods to teach both categories. Our clients are both male and female and are divided into two categories. The first category includes entrepreneurs and their ages ranging from 35-55 years. The second category includes school students aged between 7-15 years. The monthly income is approximately RO 2250 per month. The project income is 25,000 The growth of the Omani economy 4. We will provide 20 working opportunities for those .2 wishing to work in our institute. here is little demand for the service because of the difficulty of accepting a new service of this type. 2 - It is desirable to satisfy the needs of some entrepreneurs who know about international trade 3- There is a return on our service. 4 - After the customers have benefited from the services they have established their own business, Financial crisis and contribute to the recovery of the Omani economy. 3|Page 5 - Total funds to start the operation 25.000 riyals. Customer 1: Difficulty of the Chinese language in general is not as easy as the English language. Customer 2: Lack of teachers with good competence and get them from China easily and even if you have them will be their monthly entree. Customer 3: Encouraging young people to trade in China through learning Chinese language. Customer 4: Lack of students Great for the difficulty of accepting this idea because it is new. Customer5: a useful project and serves the state and may be supported by the future by the state. 4|Page
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Explanation & Answer

Attached.

Great Bonding Wall Institute 1

Great Bonding Wall Institute
By (Name)

Class
Professor
University name
City and State
Date

Great Bonding Wall Institute 2
Executive summary
Great Bonding Wall will be a training institute that will specialize in Language teaching
especially the Chinese language. Also, entrepreneurship and basic computing knowledge will be
taught to our students. The institute will also incorporate distance learning and part-time
education to factor in those students far from the institute and the working fellows. The institute
will be located in Al Khuwair, Muscat. My family will own the institute with me as the
managing director.

The startup cost is estimated at $69000 (25000 riyals), which include costs for leasing institute
space, buy equipment and books, and procuring furniture. The running costs include water,
internet, and electricity at $80 per student. For the startup capital, the owner will contribute 25%,
and the remaining is covered by securing a bank loan. The institute estimates approximately 200
students in the first week of commencing the institute and a progressively increase in the number
of students every month based on the urgency of this service to the community. The management
will comprise the managing director, two managers, and twenty teaching staff.

Problem Statement

With the increased trade between Oman and China, the language barrier has arisen to be the most
hindrance to good trade practices. Sellers and buyers cannot negotiate the price of commodities
in harmony. The international languages (such as Chinese and English) are taught in schools,
colleges, and universities where they take longer to be certified as proficient in these languages.
To eradicate this, Great Bonding Wall institute aims to provide the best teaching services in
languages (mainly Chinese), entrepreneurship, and computer studies to enhance trading

Great Bonding Wall Institute 3
Services

Teaching languages especially Chinese, entrepreneurship and basic computing skills as full-time,
part-time or long-distance learning.

Marketing

To grab a bigger audience, we will engage a local media advertisement to ensure the information
about our services reaches most parts of the country irrespective of their gender or age. Also,
social media and meeting customers will be engaged to grasp a broad market.

Description of the Business

Objectives of the Institute

1. Provide employment opportunities for the tutors and managing staff at the institute.
2. Encourage the youths from Oman to expand trading in China
3. Create a new culture between the two nations.
4. To make huge profits from selling their services.
5. To open more branches in different parts of Oman and even outside the country to
reach many people.

Brand Name

The business will be registered as Great Bonding Wall with a unique logo describing the services
we offer. We will acquire a practicing license from the government and pledge to abide with the
state rules and regulation concerning business.

Great Bonding Wall Institute 4
Product or Services

Great Bonding Wall will offer teaching languages as the primary service. However, also, we will
teach entrepreneurship and computing to enhance students with the necessary skills to handle
businesses or start their own. The teaching will be done in two phases where students learn to write
the Chinese language, and in the other stage, they are taught how to speak the language. The
leaning period will be three months after which the excellent students are issued a certificate of
practice. Computing packages are also taught to help the student manage daily activities and funds.
Entrepreneurship is taught for free to all enrolled students to expand students mind in the business
field.

Reasons for Buying the Service

1. Is a unique service in the country and entangled in international trade.
2. Free computing and entrepreneurship course once enrolled.
3. The teaching is done in three months only after which a certificate is issued.
4. With the current shortage in interpreters and jobs, this is the best field with a job
guarantee.

Unique Selling Proposition (USP)

We will be selling our services at $450 for the entire term. This is the lowest fee ever paid for
higher education in the whole country and enough to cater for all the costs. The human resource
department will consist of skilled and experienced post-graduate fellows to ensure our students are
given the best.

Great Bonding Wall Institute 5
Organization and Management

My family owns the institution with me as the managing director (MD), my brother as ...


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