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Assignment Task:

Task:

Produce a partial business plan for a hypothetical business you might like to establish. This should be a small business in scale and should be of your own design. While your business may be similar to other established businesses it must not be a franchise.

For purposes of this assignment the business should also be a physical one and not purely online. Your business plan should contain each of the following sections. Use the section headings in your assignment. For an example of a plan see Chapter 16 of the textbook “Small Business Management in the 21st Century”. Please note you are not producing a full plan. Do not use business planning software for this assignment.

Part One: Introduction A: Executive Summary: Create a one-page summary for your plan. Appears first but is done last. This is a very important part of your plan and should include details about marketing, finance and operations.

B: Business Philosophy / Mission Statement: Outline the philosophy of your business and its mission.

C: Product/Service Description: Describe the products and/or services you will be providing. Outline the customer benefits and why your chosen product/services will be successful. You must also include retail prices in this section and estimate how many units you will sell for each product on a monthly basis.

D: Self Analysis: Explain why you are a good candidate for starting up your business. Ideas to ponder: reliability, creativity, teamwork skills, education, list of special talents such as computer skills, job experiences etc.

Part Two: Marketing Research E: Conduct Secondary

Research in the following areas:

1) Geographic Data: Population description that tells how many people live in a certain area.

2) Demographic Data: Statistics such as age, gender, income and marital status, family size. You will want to include the data that will have a direct impact on your business, not just generic city or national data.

F: Primary Research: Explain what methods of marketing research you will be relying on such as surveys, focus groups or both. Include a copy of your draft marketing research survey questions. G: Competition: As a new business owner, you must analyse your competition.

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