Mktg8125.020 Explain the purpose and structure of the business planMktg8125.021 Develop a business plan
 Sees opportunities to create new  products/services or improve existing ones  while taking the risk of starting and oper...
   Sole proprietorship   Partnership   Corporation
****MOST COMMON Advantages     All profit     Make all decisions   Disadvantages     All risk     Expensive   Examp...
   Advantages     Share risk   Disadvantages     Share profit   Example     H& M lawncare
   Advantages:     Less tax     Less risk     Perpetual existence   Disadvantages:     Profit to investors   Exampl...
A comprehensive blueprint detailing business  structure & future plans Importance of  ***request for investment money  ...
Who uses or reads the plan Investors     Documentation to support loan request   Management     Guide for starting and...
   Cover Page - Professional front of plan   Confidentiality Agreement -Protects ideas from being stolen   Table of Con...
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Understanding the business plan

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Understanding the business plan

  1. 1. Mktg8125.020 Explain the purpose and structure of the business planMktg8125.021 Develop a business plan
  2. 2.  Sees opportunities to create new products/services or improve existing ones while taking the risk of starting and operating a businessExamples: Bill Gates, Donald TrumpBenefits of entrepreneurship:  Generate new products and new jobs
  3. 3.  Sole proprietorship Partnership Corporation
  4. 4. ****MOST COMMON Advantages  All profit  Make all decisions Disadvantages  All risk  Expensive Examples  Start your own business  Purchase an existing business  Purchase a franchise business  Take over a family business
  5. 5.  Advantages  Share risk Disadvantages  Share profit Example  H& M lawncare
  6. 6.  Advantages:  Less tax  Less risk  Perpetual existence Disadvantages:  Profit to investors Example:  Dick’s Sporting Goods
  7. 7. A comprehensive blueprint detailing business structure & future plans Importance of  ***request for investment money  framework for organizing  performance measure of success
  8. 8. Who uses or reads the plan Investors  Documentation to support loan request Management  Guide for starting and managing business Employees, customers, suppliers  Info about company, products and prices
  9. 9.  Cover Page - Professional front of plan Confidentiality Agreement -Protects ideas from being stolen Table of Contents- Ordered list of all components Executive Summary- Summary of all info in business plan Company Summary -Your vision and keys to success Organizational Structure Chart - A diagram of who works in the company Product/Service Description - Info about the types of products you will sell Market Analysis - Research on industry and trends Target Customer Profile - What type of customers you have Competitive Comparison - List of companies who sell similar products Marketing Strategy - Description of your planned prices and advertising Financial Plan - A forecast of your sales and revenue Appendices - Supporting documents

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