Discussing what should be included in the business plan it is repetitive to write down what was discussed in class and in the materials.

Need on a cleaning services business in boston, near Masseuchutes

Small Business Service and Retail Creation Project Description Business Plan – Term Project Background: The vast majority of all businesses (roughly of 90%) are owner managed. These businesses are started with owner capital and when financing is required it is typically acquired in the form of debt. A major source of this debt financing to businesses is from commercial banks. Banks are heavily regulated with a limited upside profit opportunity. Additionally, bankers have a fiduciary responsibility to minimize risk for their shareholders. Therefore bankers tend to be risk adverse lenders. In order to minimize risk, as part of a loan application, bankers typically require a business plan. As bankers are risk adverse, the plan that a banker desires is in many ways the most detailed and comprehensive of all business plans written. Virtually every aspect of the business, its operations, marketing and finances must be explored, understood and discussed in the business plan being submitted to a bank. As the business plans required for a bank is perhaps the most comprehensive, complete and detailed of all types of business plans written, they are perhaps the best to learn how to write. When you are able to write a comprehensive and detailed plan that a banker would find acceptable, you can write any other derivative plan desired. ENTR 4503 – Project Description E Clark Term Project This course covers the wide range of issues surrounding the creation and financing of an owner operated and managed business in the service, retail or small manufacturing sectors. The topics include developing a business plan (financing package), strategy development for the small business, sales forecasting, pro forma development, debt financing, and service development. The course format is structured around the components of a business plan that would be used to obtain debt financing. The final project for the course is a complete business plan that would be suitable for obtaining debt financing from a traditional lending institution. The purpose of this project is to create as “real†of a business startup and plan as possible. The business plan will be graded based on structural content as well as conceptual content. Structural content includes completeness and degree of thoroughness. Structural content includes connections between text and financials. For example marketing is essential for a small business and expected. A discussion of your marketing activities is therefore expected in the text and the associated costs should be included in the financial statements. Conceptual content relates to the degree of appropriateness of your actions for your business idea and operations. Conceptual content considers what you are trying to do and the relationship to your proposed activities. For example, are your actions and investments appropriate for your business idea? Given the scope of the project, time available, and experience; the goal of the project is not to create necessarily a “bank ready†business plan, but rather a plan that is appropriate and accurate as a learning experience. We are looking for accuracy in the structural content of the plan, combined with a level of conceptual content that is appropriate and meaningful to provide a valuable learning experience. ENTR 4503 – Project Description E Clark THE PROJECT: The purpose of this project is to create as “real†of a business plan as possible. Use the following criteria for the project unless agreed to in advance: • You are going to start a small owner operated retail, service or light mfg business (no franchises or acquisitions). • 35% of the necessary startup cost of the business will be owner contributed equity. (Assume that you have personal funds available to finance 35% of the startup cost.) • 65% of the startup cost of the business shall be financed through debt. • The maximum start-up funding required is $1,500,000. • No real estate will be purchased (lease or rent). • Operating costs (negative cash-flow) will be financed via short-term loans. • The business is expected to provide a reasonable annual income to the owner ($75,000). • You are writing the business plan for a client. o You do not need to elaborate on the client, their background, finances, etc. o You do not need to have team members in the business or have industry experience. o Team members working on the project do not need to be employed in the business. • Use real data where appropriate and possible. The purpose of this project is to create as “real†of a plan as possible. Real data must be used wherever possible, particularly for issues that are deemed to be strategic. For example, if location is a key factor for success, then a suitable location must be found. • Please see me if there are problems obtaining information. It will be assumed that all data in the business plan is actual market/industry data unless otherwise approved. The following are required for the project: • Use the Business Plan Template provided in class. Required • Use the Financial Statements Templates provided in class. Required • Financial Statements will conform to the provided templates. Required • You will have long-term and short-term financing requirements. Required • The business will be cash-flow negative during a start-up period Required • Short term financing (line of credit) will be used, monthly as necessary, to cover cash-flow negative operational expenses during start-up period. Required • You will have depreciable assets. Required • Text – 12 font Times New Roman 1.5 spacing, standard margins. Required • All written assignments are to be submitted via “Turn-it-in†by 5:30 p.m. on the assigned due date. ENTR 4503 – Project Description E Clark Presentation: • 20 minutes max: 15 minutes allotted for presentation max. 5 minutes allotted for questions max. • Provide a copy of the slides, (2 slides per page) prior to the presentation. Business Plan Due: Last day of class Business plans will be graded based on structural content, as well as conceptual content. GENERAL COMMENTS • Creating a business plan requires discipline and initiative. • Don’t wait until the last minute, it won’t work well here. • Feedback is often more valuable when provided in-person. You have the opportunity to ask questions and information can be provided in greater detail. • Take responsibility to seek feedback about assignments. Ask questions. • Seek feedback regarding the structural components of your plan. • Seek feedback regarding the conceptual content of your plan. • If you have questions; ask them. Try to be specific; work to identify what you need. • Drafts and assignments are due by 5:30 via “Turn-it-in†on the assigned dates. Comments on Business Plan Assignments, Drafts and Feedback Writing a Business Plan is a process of discovery. Worksheets and draft Business Plan are often based on incomplete data and assumptions. As you go through the development of your business plan you will acquire new, better and more complete information. When you do, you may validate assumptions or you may find you need to change the plan. Therefore, until the final Business Plan is submitted associated assignments should be considered as “works in progress†. Seek feedback regarding the development of your business plan. As we will spend a significant amount of time in class discussing what should be included in the business plan it is repetitive to write down what was discussed in class and in the materials. Take the initiative and responsibility to ask questions regarding the development of your business plan. If you need help in the process of writing your plan, or if you need support in the development of your plan; ask for it.ÂÂ

cover letter 1page table of content exec summary 1page overview of business 1page operations 2-3pages marketing 2-3page sales plan 1-2 pages referrences needed for all information.

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