Step-by-Step Business Plan

Entrepreneurship An entrepreneur is a person who: Recognizes an opportunity Organizes Manages Assumes the risks of starting and operating a business

Initial Steps in Setting up a Business Doing market research and writing a business plan are the first steps in setting up a business. business plan a written description of a new business venture that describes all aspects of the business

Checklist for Starting a Venture What will I produce? Who are my main competitors? Why is my product or service needed? How much will my product or service cost to produce? How many people will I need to run the business? What physical facilities will I need? What licenses, permits, or other legal documents do I need? How much money will I need to get started?

Parts of a Business Plan A business plan must be well organized and easy to read. There are 15 essential parts of a business plan.

Name your Business Notebook: list at least 3 food truck concepts you are interested in and 3 potential names for each concept. (each individual person in class should have 3 food truck concepts and 3 potential names) Meet with your partner and select a business concept and name for your business.

Management Team Plan The management team plan presents your qualifications and those of any partners you might have. Management Team The OBRA e-z management team consists of the 2 Partners, and 2 additional staff. Example: Noah feehan, PARTNER Noah Feehan has more than five years in the food and restaurant industry. Noah will bring his food preparation expertise to the enterprise to ensure high quality products and efficient cooking standards. Noah plans on obtaining a Bachelor’s Degree in Culinary Arts from Boston University Caleb Kuhn, PARTNER Caleb has served as a manager of the award-winning restaurant, Juanita’s Bar and Grill in D.C. Mr. Kuhn’s plethora of contacts in the food industry make him an essential partner in this enterprise.

Management Team Plan Why are you and your partners qualified for the job? (You may make up this information, but it should still be somewhat REALISTIC.) Will you hire consultants, have any partnerships, or an advisory board (somewhere you can go to get advice)?

Company Description The description of the firm provides an outline of the business and helps investors understand the size, scope, and type of business you plan to start.

Company Description Example Our company will consist of a single food truck. This will allow us to be mobile and serve many people of all different backgrounds and ethnicities. We will have a total of two employees to work inside the truck some days and other days in the office to help manage finances, meet with the advisory board, etc. Our concept is to provide the people of Ogden with high-quality, gourmet BBQ food at a better quality than your average BBQ restaurant, such as Dickie’s BBQ. We plan to buy our meat fresh daily, as well as harvest our own home-grown vegetables. Our service will be both accurate and speedy and we will make sure to provide our customers with their food and get them on their way. Smokehouse on Wheels, Noah Feehan and Caleb Kuhn

Company Description How big will your company be?—Number of employees (you will start out with only 1 truck) What is your business concept? What will you be known for?

Product and Service Plan The product and service plan describes the product or service you want to offer along with possible spin-offs. Describe the products AND services you will offer. Explain your core offerings. What makes you unique? (you should come up with actual ways you are unique, do NOT say we’re the best, greatest, most awesome, most delicious, etc.—I want actual information) What products will you expand to once you get started? AKA spinoffs

Product & Service Plan Example The New World Deli offers a breakfast and lunch menu, fresh cold cuts, drinks, and take-out prepared dishes. Breakfast will include such items as omlettes, cereal, eggs, toast, yogurt, plus coffee and tea. The lunch menu will consist of various cold cut sandwiches (turkey, ham, roast beef, etc.) plus prepared salads including: [include list of food] In addition, Ms. Ericson will be offering her own salmon dressing to compliment these offerings. Finally, New World Deli will offer its unique Pacific Northwest style cuisine. This includes Ms. Ericson's own creations such as:

Product & Service Plan Example Holey Moley offers one menu for lunch and dinner. The menu will consist of 3 products, burritos, tacos, and chips and guacamole. All products will be hand-made on site and at the time of purchase. Holey Moley will only use the highest quality ingredients, including USDA grade A beef and fresh avocados. By keeping our menu simple, Holey Moley is able to reduce costs and streamline the cooking process. Our easy menu allows us to serve our food quickly to customers at a price that won’t hurt their wallets.

Vision and Mission Statements The vision statement and the mission statement sections state the guiding principles of your business. Mission Statement How To: http://onstrategyhq.com/resou rces/video-how-to-write-a- mission-statement-that- inspires/ vision statement establishes the scope and purpose of a company and reflects its values and beliefs mission statement expresses the specific aspirations of a company and the goals it will try to reach

Fremont High Mission & Vision Fremont High School exists to provide a safe environment to: Educate students in our community Nurture a passion for learning Create enrichment opportunities Help students explore future career possibilities We are here to: Develop and use critical thinking in and out of class Create a motivational environment for discovery, growth, and purpose Engage in meaningful enrichment opportunities to discover strengths beyond the textbook Use productive communication to build positive relationships throughout the educational and professional communities

Holey Moley Mission Statement To provide Ogden, Utah residents with a tantalizing food truck experience. Holey Moley’s delicious and healthy guacamole will become an addiction for any who taste it

Mission Statements A mission statement should clearly express a company’s main goals. Starbucks Mission Statement: Our mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.

Walmart Mission Statement We save people money so they can live better.

Mission Statement for Target Our mission is to make Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation and exceptional guest experiences by consistently fulfilling our Expect More.

Coca Cola Mission Statement Our Roadmap starts with our mission, which is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions. To refresh the world... To inspire moments of optimism and happiness... To create value and make a difference.

Amazon’s Vision Statement Our vision is to be earth's most customer-centric company where customers can find and discover anything they might want to buy online… at the lowest possible prices.

Pepsi Vision Statement Our vision is put into action through programs and a focus on environmental stewardship, activities to benefit society, and a commitment to build shareholder value by making Pepsi Co. a truly sustainable company.

Mission and Vision Statement Write a clear vision and mission statement. Vision statement—what is/are your purpose, values, and beliefs? Mission statement—what are your aspirations of a company and major goals?