Create a business plan for your hypothetical start-up company in which you do the following:
Note: You are required to utilize both the attached “Business Plan Template” and the attached “Financial Plan Template” in creating your business plan. If the attached WGU templates are not completed and submitted, your work will automatically be returned to you without being evaluated. These templates are located in the “Supporting Documents” section of the Capstone instructions.
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A. Write an executive summary (suggested length of 1–2 pages) in which you do the following:
1. Identify the company’s name and location.
2. Describe the mission of the company.
3. Discuss two business goals in support of the company’s mission.
4. Discuss three keys to success for the company.
B. Write a company summary (suggested length of 4–6 pages) in which you do the following:
1. Describe the history of the industry in which the company will operate.
Note: Cite data and examples from your organization to support your analysis.
2. Identify the legal form that the company will take.
3. Describe the location and type of facilities needed for the company.
4. Describe the management structure, including key positions and specific responsibilities.
5. Describe the products and services offered by the company.
C. Develop a market analysis (suggested length of 3–5 pages) in which you do the following:
1. Describe the target market for the company’s products and services, including the specific location, demographics, etc.
Note: Cite data and examples from your organization to support your analysis.
2. Complete an industry analysis for the company, including current trends and statistics.
3. Complete a four-square SWOT analysis for the company in which you do the following:
a. Identify three strengths, three weaknesses, three opportunities, and three threats.
b. Explain each of the identified strengths, weaknesses, opportunities, and threats.
D. Develop a market strategy (suggested length of 3–6 pages) in which you do the following:
1. Discuss each of the four Ps of marketing as they relate to the company’s products and services.
2. Develop a price list for the company’s products and services.
3. Develop a promotional strategy including specific tasks, target dates, and responsible parties.
4. Develop a monthly sales forecast for the first year of operations, including a discussion of expected market conditions.
Note: The sales forecast will be used as the basis for your revenue in your financial statements.
E. Develop an implementation strategy in which you do the following:
1. Summarize the overall strategy that will be utilized to launch your business, including target dates and goals for implementation. | PLACE YOUR ORDER NOW AT writtask.com |
2. Develop a post-launch monitoring plan (e.g., financial impact, quality control, customer satisfaction, monitoring schedule) to evaluate the success of the company in meeting milestones.
F. Calculate and develop the financial statements and projections for the first year of business by doing the following:
1. Develop a month-by-month forecasted profit and loss statement using an estimate of revenues and operating costs based on the sales forecast. | PLACE YOUR ORDER NOW AT writtask.com |
2. Develop a forecasted balance sheet for the end of year one.
G. Write a financial report (suggested length of 1–2 pages) in which you do the following:
1. Summarize the financial projections and the assumptions used in estimating the financial statements.
2. Describe the company’s financial position at the end of the first year.
3. Describe the company’s initial and future estimated capital/investment needs.
H. When you use sources, include all in-text citations and references in APA format.
MODEL ANSWER
The company will be called “Meeting Grounds” and will be located near a | PLACE YOUR ORDER NOW AT writtask.com | thought behind what has formed the establishment of this business emanated from the fact that besides academic work, most students on campus wish to develop their social skills and have a large consumption of caffeine to get through their | PLACE YOUR ORDER NOW AT writtask.com | that they have limited time to engage in social activities.
Furthermore, most may not enjoy, or can afford the luxury of going for fancy coffee or happy hour dates in expensive | PLACE YOUR ORDER NOW AT writtask.com | to bring such students together is a | PLACE YOUR ORDER NOW AT writtask.com | of the coffee shop will be called “relaxation bay,” owing to the need to offer a serene atmosphere for clients.
A2. The mission of the Company
The mission of the company is to provide a serene | PLACE YOUR ORDER NOW AT writtask.com | enable students and other outsiders to interact freely and build their confidence to meet new people while enjoying an affordable beverage.
The goals of the business are, therefore, to turn in profits from its | PLACE YOUR ORDER NOW AT writtask.com | secondly, to be the best coffee house in terms of providing a secure and serene environment that advocates for social interaction (Kenny & Dyson, 2016).
A4. Keys to Success
The business can be said to have succeeded based on the following factors: The company having a more significant presence not just within but also among | PLACE YOUR ORDER NOW AT writtask.com | the sales of affordable, yet high-end, drinks will be regarded as a significant success. The second critical success indicator is having a well-trained workforce that can prepare products that reflect the needs of the clients. The employees must be able to make | PLACE YOUR ORDER NOW AT writtask.com | also be able to provide quality services | PLACE YOUR ORDER NOW AT writtask.com | success has a store design that will have both the visual appeal to clients as well as designed for fast and efficient service delivery, while establishing a safe environment for all clients.
A. Company Summary
Meeting Grounds will be a business owned by three classmates in the school of business. It will be located close to the university, which implies that most of the clients will be students who wish to engage in a relaxation zone, without having to travel. It will also attract outsiders who wish to go to a place that is affordable that is also, cool and relaxed. Such a location will provide opportunities for social interaction or relaxation for smaller groups, couples and individuals.
The coffee industry has been in | PLACE YOUR ORDER NOW AT writtask.com | for a long time | PLACE YOUR ORDER NOW AT writtask.com | premises, there are many businesses that have been established to solve | PLACE YOUR ORDER NOW AT writtask.com | that are specific to the students in the | PLACE YOUR ORDER NOW AT writtask.com | are, for instance, three business entities that sell food and food products for the university | PLACE YOUR ORDER NOW AT writtask.com | has never been to offer coffee and cocktails, or to engage in a social or romantic connotation. Even though there are other coffee shops, interesting coffee shops are rare. Those that are established have limited space, which makes them inappropriate for clients to engage with each other without being openly watched.
Furthermore, many other coffee shops are | PLACE YOUR ORDER NOW AT writtask.com | shops have been established with the primary intention of capturing the high-class | PLACE YOUR ORDER NOW AT writtask.com | e thought of catering for the needs of the middle or lower class. Therefore, coming up with an affordable shop is a novel idea, owing to the existing ready market.
The start-up will operate as a partnership form of business, and partners will | PLACE YOUR ORDER NOW AT writtask.com | will be shared between the three partners. Other legal considerations include procedures for any partner opting to leave the partnership and if need be, steps that can be taken to dissolve the business.
The business will be formed to run as partnership for several reasons. First, this form of business allows excellent access to capital and has no special taxes. Furthermore, it is ea | PLACE YOUR ORDER NOW AT writtask.com | dissolved when business practices change, or university policies work against its growth. Furthermore, owners can also retain all the profits and have a generally combined management skill.
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