Expanding Your Business, management homework help

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Business Finance

Description

Referring to the same business you either started or purchased in the first assignment, write a 6-8 page paper in which you:

  1. Outline a financial plan for your small business.
  2. Develop a guerrilla marketing strategy for your small business.
  3. Discuss the most appropriate location for a second store (an actual street address). Explain your reasoning.
  4. Outline a plan for securing sources of debt financing for your second store.
  5. Include at least two (2) references outside the textbook

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Explanation & Answer

Attached.

1

Running head: COOL BREEZE

Expanding Business
Institutional Affiliation:
Date:

COOL BREEZE

2

To start a small business can be a challenging task especially when one lacks the required
resources and skills. Start-ups need a well-formulated and planned process as well as knowledge
in that particular business. Cool Breeze, as a small business will deal with coffee and other types
of beverage but coffee will be the primary product. A financial plan will be substantial as it
outlines the way forward regarding capital plans. The paper will focus on the financial plan of
Cool Breeze, gorilla marketing strategy and a favorable location to start a second new store as
well as plans for securing sources to service the debts used in funding the new store.
A financial plan is an extensive assessment of state of finance whereby the investor uses
certain aspects of the business to predict about the financial state of the business. It is an
important section of a business plan as it helps the investor to be aware of the changes in finance
during specific periods in a year and helps one to predict the future and have contingency plans
to curb undesired situations (Katz, J. A., & Green, 2009). To get information about the overall
financial health of Cool Breeze, it will be essential to come up with a financial plan. To be able
to manage cash properly, a financial plan for Cool Breeze will help in knowing the periods in
which cash is low and high during certain periods of the year. For instance, demand for coffee is
high during the winter periods as compared to other periods like summer. These cycles will be
taken into account to ensure that during low periods there is set out finance to cater for expenses
while minimizing costs. This will help to avoid poor management of cash that can result to lack
of money for payroll.
Cool Breeze will focus on the future and through this; it will become easy to put in place
expenditures which will steer the business to achieving the set goals and objectives. As a result,
the business will not only focus on short term plans but also long term plans like expanding Cool
Breeze and opening other stores in different areas. To achieve this, however, it ...


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