Executive Summary Assignment help

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Examples of Executive Summary http://www.bplans.com/bakery_business_plan/executi... I have also attached Example of Executive Summary.

1.0 Executive Summary Assignment Instructions

Introduction

An executive summary is a form of an informative summary. Informative summaries present the larger document’s content, although in greatly compressed form. Any summary reduces the original information to its barest form. This assignment is to write an executive summary for one of the supplied sample business plans. As part of the assignment, students will collaborate with others to give and receive feedback on their individual executive summaries.

Informative Summaries

Summaries should always use clear, concise wording and be well-organized. An informative summary must retain the emphasis of the original document. Information that is crucial in the original document must also be prominent in the summary. The summary cannot introduce new information. According to our textbook, Workplace Communications: The Basics:

To make an informative summary concrete and to the point rather than vague and rambling, be sure to include hard data—such as names, dates, and statistics—as well as the original document’s conclusions and recommendations, if any. Sometimes including a good, well-focused quotation from the original can also be very helpful to the reader. Avoid lengthy examples and sidetracks, however, because a summary must always be brief—usually no more than a quarter of the original document in length. (Searles, 2014).

The Executive Summary for a Business Plan

An executive summary for a business plan should include the following sections:

  • Brief overview of
    • introduction
    • the company
    • the products and services
    • the market
    • financial considerations

1.2 The keys to success – competitive advantages of the company


Format

Located at the beginning of a business plan, an executive summary is placed after the cover page, legal page, and table of contents. The executive summary is generally 1 – 2 pages in length and conforms to the same margins and format as the rest of the business plan. These instructions demonstrate the correct format for an executive summary.

Grading

The executive summary assignment is worth a possible 200 points and will be graded using the following rubric:

Excellent

Good

Basic

Poor

Missing

EXECUTIVE SUMMARY GRADING

Introduction

10

8

6

4

0

Company Description

10

8

6

4

0

Description of Products and Services

10

8

6

4

0

Description of the Market

10

8

6

4

0

Financial Considerations

10

8

6

4

0

Quantifiable Objectives Included Throughout

10

8

6

4

0

Mission Statement

10

8

6

4

0

Keys to Success

10

8

6

4

0

Format and Length

10

8

6

4

0

Spelling, Grammar, Mechanics, Tone

10

8

6

4

0

1.1 Mission

The mission of the executive summary is to assist management in making decisions without having to read the entire report it precedes.

1.2 Keys to Success

Keys to success for writing an executive summary will include

  1. Accurately covering the main points of the complete business plan
  2. Including no minor or unnecessary details, or anything extraneous to the original
  3. Including quantifiable objectives
  4. Being well-organized
  5. Maintaining an objective tone
  6. Using clear, simple language

Unformatted Attachment Preview

Business Plan For Something Sweet Bakery Jessica Bealle 505-555-5555 246 E. P eb b l e S t . Albuquerque, NM 87123 Spring 2014 1 Table of Contents: 1. Executive Summary………………………………………………………….3 2. Mission Vision and Culture………………………………………………….4 2.1 Mission……………………………………………………………...4 2.2 Vision……………………………………………………………….4 2.3 Culture………………………………………………………………4 3. Company Summary…………………………………………………………..5 3.1 Company Ownership……………………………………………….5 3.2 Start-up Summary………………………………………………….5 4. Market Analysis Summary…………………………………………………..6 4.1 Market Segmentation……………………………………………….8 4.2 Target Market and Segment Strategy………………………………10 4.3 Industry Analysis…………………………………………………...12 4.4 Competition and Buying Patterns…………………………………..14 5. Strategy and Implementation Summary……………………………………...18 5.1 Product……………………………………………………………...18 5.2 Competitive Edge…………………………………………………...19 5.3 Marketing Strategy………………………………………………….19 5.4 Sales Strategy……………………………………………………….20 5.5 Sales Forecast……………………………………………………….20 6. Management Operations……………………………………………………...22 6.1 Personnel Plan………………………………………………………22 6.2 Physical Locations/ Facilities……………………………………….24 6.3 Inventory, Production and Quality Assurance………………………24 7. Financial Plan…………………………………………………………………25 7.1 Important Assumptions………………………………………………25 7.2 Break-even Analysis…………………………………………………25 7.3 Projected Profit and Loss…………………………………………….26 7.4 Projected Cash Flow…………………………………………………28 7.5 Projected Balance Sheet……………………………………………..29 7.6 Business Ratios………………………………………………………30 8. Funding Request and Exit Strategy……………………………………………32 8.1 Mile Stones…………………………………………………………..32 Appendices A. Menus B. Survey 2 1. Executive Summary: 3 2. Mission, Vision, and Culture: 2.1 Mission Statement: Something Sweet mission statement is presented below: Our mission is to be the best and most successful bakery in Nob Hill. We at Something Sweet will ensure that every guest receives professional, prompt, and extremely friendly service. We strive to maintain a welcoming, comfortable, and well-kept establishment for our guests and staff. Something Sweet will provide nutritional and creative sweets with only the best quality local ingredients at a very fair price. We want our bakery the choice for all families and singles, young and old, male or female. We will ensure that all guests and staff are treated with respect and dignity that they deserve. Each guest will be thanked with a sincere smile and respect. We will contribute menu variety, atmosphere, ambiance, specials, and friendly staff to create a sense of place in order to reach our goal. We strive for fair profits for the owners and a rewarding and fun place for our employees to work. 2.2 Vision: In three years, Something Sweet will be established and known through the Albuquerque area by consistently providing the combination of perfectly prepared sweets and treats with outstanding service that creates an extraordinary experience for all of our guests. 2.3 Culture: Something Sweet has very strong values of teamwork that makes our employees feel like they are apart of the family and the success of the business. From the team work that the employees bring comes customer satisfaction and a fun and clean work environment for our employees. As well as quality customer service, delicious selections of sweet treats and beverages to meet needs of individual customers. 3. Company Summary: Something Sweet Bakery will feature an excellent choice of freshly and local baked goods and treats in a moderately upscale and inviting atmosphere. The menu is inspired 4 to have families crave sweet treats that will appeal to a wide and variety of taste buds. We will offer daily and nightly specials and happy hours in addition to our regular menu in order to promote a better business profit. Something Sweet will be open seven days a week. Serving breakfast Monday through Sunday from 7 AM to 11 AM. Lunch will be served from 11 AM to 4 PM and dinner will be served from 4 PM to 9 PM. On Friday and Saturday we will stay open until 12 AM in order to increase business, which will expand our dinner and dessert hours. We will be closed on Easter, Thanksgiving Day, and Christmas Day. We will be open on large holidays such as New Years Day, Memorial Day, Fourth of July and Labor Day weekend but will close around 4 PM in order for our employees to spend time with their families. These are three big weekends that bring many tourists to the area and we plan to have their business during those weekends. During the week, Monday through Friday during our happy hour from 1 PM- 4 PM we will offer half priced cupcakes and slices of cakes. Monday through Friday is one of our slowest times through the week. This will hopefully increase our sales. This will also increase families to stop by after school for a quick snack and a tasty treat before dinner. Our guests will then be able to come and enjoy themselves before heading back home to homework and other chores. Something Sweet will be the perfect place when customers want to host and hang out with their friends and families. They can have business meets in our private area, a place for quiet conversations, or for special occasions such as graduations dinners, bridal showers, bachelorette dinners, birthday parties, and so much more. We will offer special baking classes for kids, adults, or any age will be able to learn how to bake and decorate cupcakes and cakes. This would be the perfect birthday party. 3.1 Company Ownership: Something Sweet Bakery will start as a LLC Structure, owned by its founders Jeffrey and Jessica Bealle, with the intent of using a portion of shares to raise capital. Jessica will function as the General Manager and Head Bakery and Jeffrey as managing partner. 3.2 Start up Summary: The founders Jeffrey and Jessica Bealle are looking for a bakery or restaurant space in Nob Hill Albuquerque New Mexico that is approximately 1,5000 to 2,000 square feet, rental space on the corner of Yale and Central is a prime option, Something Sweet’s start up expense total around $255,650. We are personally committing $55,000 in personal savings. A Micro Loan will be taken out for funds. The startup cost has been listed in detail in the market analysis summary to the best our knowledge and experience in the industry. 5 4. Market Analysis Summary: Something Sweet Bakery Start Up Requirements Start up Expenses Bakery Rental Space (monthly) Doyon Baking Stove Curved Glass Display Case Garland Stove Range Kitchen Aid Mixer Tables and Chairs Cash Registers Dishes, Pans, Pots, Silverware Pre-opening Salaries (two weeks’ worth pay) Advertising Phone System Décor Menu Printing Utilities and Deposits (two months worth) Food and Beverage Industrial Dishwashers Industrial Fans for stoves Contingencies and emergencies (cash reserves) Legal Insurance Music/stereo/TV Total Start up Expense: $4,500 $20,000 $15,000 $5,000 $3,000 $5,000 $3,000 $3,000 $14,500 $5,000 $500 $5,000 $150 $2,000 $12,000 $20,000 $50,000 $70,000 $3,000 $3,000 $4,000 $255,650 Start Up Assets Cash Required Other Current Assets Long-term Assets Total Assets $55,0000 $0 $0 $55,000 Total Requirements $310,650 6 300000 250000 200000 150000 100000 50000 0 Expenses Assets Loans Something Sweet Bakery Start Up Funding Start up Expenses to Fund Start up Assets to Fund Total Funding Request $255,650 $55,000 $310,650 Assets Non-Cash Assets from Start-Up Cash Requirement from Start-Up Additional Cash Raised Cash Balance on Starting Date Total Assets $0 $55,000 $0 $55,000 $55,000 Liabilities and Capital Liabilities Current Borrowing Long-term Liabilities Accounts Payable (Outstanding Bills) Other Current Liabilities (Interest Free) Total Liabilities $0 $255,650 $0 $0 $255,650 Capital Planned Investment Jack and Jill Investors Other Additional Investment Required Total Planned Investment $55,000 $0 $0 $0 $55,000 Loss at Start Up (Start-up Expense) Total Capital ($255,650) $0 7 Total Capital and Liabilities Total Funding $55,000 $310,650 4.1 Market Segmentation Something Sweet Bakery will focus on locals and tourists, people that have the desire for great and tasty treats and enjoyed a great atmosphere. We want everyone to feel welcome and relaxed in our inviting atmosphere where we will offer a wide and varied menu of treats that will satisfy any sweet tooth. The local and tourists that we are trying to attract are listed below: ▪▪ Business Professional: Professions work hard all day and often need a place to bring their future and current clients, to try and win over their business and close a contract. ▪▪ Couples: The restaurant will offer a fun and romantic atmosphere that will be perfect for a Friday or Saturday date night. ▪▪ Families: The perfect place for a quick snack before dinner or a tasty delicious dessert after dinner. We will have a lounge area for families to relax with their children and play board games to encourage family bonding. ▪▪ Tourists: Nob Hill attracts thousands of tourists each year, where they are here for a personal vacation or here for a business conference. ▪▪ College Students: With being so close to University of New Mexico and Central New Mexico Community College we hope to attract a hip and upcoming environment that college students are able to study and get a quick snack in before heading off to class. Albuquerque is the largest city in New Mexico with the city population at 528,497 people. Nob Hill is the central business district for many different restaurants and bakeries. With twenty or more different restaurants, many hotels, banks, and a major University and community college close by Something Sweet will be in perfect proximity for success. As well as the different housing community being located in Nob Hill there are a variety of people who will be dining at our bakery. The prospect of opening Something Sweet in thriving Nob Hill will add to the dynamic culture in downtown and provide a major economic boost to the city of Albuquerque. The following chart shows the diverse population the Nob Hill area serves. 8 Market Analysis Business Professional Couples Families Tourists College Students Our market analysis shows the following expected growth potential: Market Analysis YR1 YR2 YR3 YR4 YR5 Potential Customers Growth CAGR Families 17% 14,280 16,708 19,548 22,871 26,759 17% Couples 14% 8,825 11,190 12,303 14,200 15,005 14% Business Professionals 13% 4,895 5,989 6,789 7,435 8,675 13% Tourists 12% 3,456 4,012 4,678 5,090 5,897 12% College Students 15% 3,570 4,205 4,756 5,434 6,453 15% Total 15.00% 35,026 42,104 48,074 55,030 62,789 15% 9 4.2 Target Market and Segment Strategy Something Sweet Bakery will focus on attracting a wide range and diverse customers within the age range of 18-45 years old with families or college students with an annual income of $20,000 or more. Customers at this age range are more willing to spend the money to eat and socialize according to the surveys taken in the Nob Hill area and on college campuses. Over all we want families, couples, business professionals, tourists, and college students. According to our surveys these are the type of customers who will dine in our bakery and order cakes for different special occasions. Customers at that age are willing to spend the time looking for a special location for a date or a family night. According to our surveys these are the type of customers who currently dine and entertain in surrounding area restaurants and bakeries and they are willing to spend their hard earned money on a great delicious tasty treat with excellent customer service at a fair price. Our geographies will include customers from the Albuquerque area, bakery patrons from neighboring cities and tourists from other states. Product: Something Sweet Bakery will be unique to the Nob Hill Albuquerque area. It will offer a product that many different people will enjoy as well as a service. Our creative and unique sweet treats will make every guest who dines in our facility feel welcome. Something Sweet will be a moderately upscale bakery where we will prepare your tasty sweet treats with a flare of New Mexico style since all our ingredients will be bought locally. Our treats will be of the finest quality and prepared with the up most care from our employees who have been trained to their fullest potential. We will go all the way to satisfy anyone who dines at our bakery in order to keep them returning. We will rotate our menu every three to four months and always will be introducing seasonal and new flavors of cupcakes and other tasty sweet treats. Our cupcakes will be moderately normal in size in order to please our adult customers but we will also offer mini cupcakes in order to accommodate those with tiny hands. We will do our upmost professional decorating in order to make each cupcake special and worth remembering. Our menu will include traditional flavor cupcakes like chocolate; vanilla, strawberry but it will also include exotic cupcakes like maple bacon flavor and other. Something Sweet will also offer a variety of cupcakes that will incorporate seasonal flowers and honeys around the local Albuquerque area to help with seasonal allergies and bring a variety of creative flavors. Something Sweet will offer a variety of flavorful bottled sodas that are unique and not usually found around the town of Albuquerque. This will allow our guests to have a delicious and unique soda with either their classic cupcake or their different creative cupcake. (Refer appendix for menu in its entirely) 10 Distribution: Something Sweet will be open seven days a week. Serving breakfast Monday through Sunday from 7 AM to 11 AM. Lunch will be served from 11 AM to 4 PM and dinner will be served from 4 PM to 9 PM. On Friday and Saturday we will stay open until 12 AM in order to increase business, which will expand our dinner and dessert hours. We will be closed on Easter, Thanksgiving Day, and Christmas Day. We will be open on large holidays such as New Years Day, Memorial Day, Fourth of July and Labor Day weekend but will close around 4 PM in order for our employees to spend time with their families. These are three big weekends that bring many tourists to the area and we plan to have their business during those weekends. During the week, Monday through Friday during our happy hour from 1 PM- 4 PM we will offer half priced cupcakes and slices of cakes. Our baked foods will be made fresh daily from our bakers in house and order all the ingredients from local places around the city of Albuquerque to support local businesses. Promotion: With Something Sweet being a new bakery in the district of Nob Hill the promotion that we will be using to create awareness about our business. This is a critical part to a business’s success. Something Sweet bakery will partner up with local partners that include different hotels and other places that will give out coupons and advertisements that allow our guests to get one cupcake for free when purchasing another cupcake. This will hopefully increase our business revenue. Placing advertisements and coupons with these partners can get the word out to thousands of people. Advertisement on radio stations and billboards will also take place. For the grand opening an event will take place were customers will be able to do tastings of our cupcakes and other variety of treats for free in order for customers to return and refer people. Pricing: Something Sweet will be very simple on their pricing method. A dozen cupcakes will run $14 or $8 for half a dozen cupcakes or $1.50 each. However prices on single cupcakes can vary depending on flavors because of the amount of ingredients used in them. Pricing strategy will be established to develop quality food and reasonable prices; this will develop our image and appeal to our target market, of families, couples, business professionals, tourists, and college students. Cakes will be priced at a variety of prices depending on how many people the cake will feed 11 and decorations used on the cake. All our other variety of treats will be priced anywhere from $1 to $20. However pricing on wedding cakes and other occasions will be quoted for our guests. Something Sweet will use the price quality strategy, which will appeal to consumers that are value conscious. We will establish and maintain a price quality strategy to appeal to consumers by offering quality food at fair prices to attract a larger consumer base. 4.3 Industry Analysis Many new restaurant and bakery operators are told that 90% of new restaurants fail within the first year. Though it is very common for restaurants and bakeries to fail within the first year, the percentage is not quite as high, recent studies have concluded that the failure rate is between 67% and 87%. However, even with this high statistic restaurants and bakeries in New Mexico are driving the economy. Because of this the sales are generating a ton of tax revenue. The bakeries and restaurants that are opening are offering so many jobs to people, which are lowering the unemployment rate in Albuquerque and New Mexico. They also provide healthful options for their guests, give back to their communities, and work to reduce their impact on the environment. Some restaurant industry facts in New Mexico are listed below: ▪▪ In 2010, New Mexico’s restaurants are projected to register $2.8 billion in sales. ▪▪ Restaurant jobs represent 10 percent of employment in New Mexico. ▪▪ 9.5% job growth is expected by 2020. ▪▪ Restaurants employ 83,000 people in New Mexico. ▪▪ Every extra $1 million spent in New Mexico’s eating generates an additional $0.82 in sales for the state economy. ▪▪ In 2008, there was 2,913 eating and drinking places in New Mexico, currently in 2010; New Mexico’s restaurants are projected to register $2.8 billion in sales. According to galenet large fast-food chains lead the restaurant industry, which by 2005 consisted of approximately 8 million restaurants worldwide in an extremely competitive environment. Most restaurants were single units, independently owned and operated, while about 300 companies were involved in chain restaurant Worldwide, the restaurant industry saw considerable growth in 2003 as the economy began to stabilize and consumer confidence increased. According to According to the global market research firm Euromonitor, the industry grew 4.5 percent in the United States, reaching US$189.9 billion. In the United Kingdom, the industry grew 3.0 percent, to US$23.1 billion. China also experienced growth of 9.4 percent to US$110.4 billion. The market in France held ste ...
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Executive Summary
Introduction
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patients with life-limiting sicknesses and a future of under six months. Most patients like to get
hospice in the solace of their home or long haul care agency. Should a patient require constant
care to gain control of their discomfort, their care group may propose admission i...

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