1. Business concept A RESTAURANT I want to open a restaurant (WRONG)
I want to open a restaurant featuring moderately priced Mexican food and located in the El Paseo Plaza of Palm Desert California (BETTER)
9.1
© 2004 Ewing Marion Kauffman Foundation

2. Characteristics of the Ideal Business
• No investment
• Recognized, established market
• Perceived need for product
• Dependable source of input supply
• No governmental regulation
• No labor
• 100 percent gross margin
• Buyers purchase frequently
• Favorable tax treatment
• Receptive, established distribution system
• Great news value
• Customers pay in advance
• No product- or service-liability risk
• No product obsolescence
• No competition
• No fashion obsolescence
• No physical perishability
• Impervious to weather
• Workable and feasible product/service
• Proprietary rights
• Continuous revenue flow
• No legal entanglements
• Exit potential
10.2
© 2004 Ewing Marion Kauffman Foundation

3. Concept Statement (exer. 9a)
• Distinct function of product/service
• Proprietary aspects
• Innovative technology
• Position in the industry
• Intended customers
• Customer benefits
• Market-penetration methods
• Maker or supplier of product/service
9.2
© 2004 Ewing Marion Kauffman Foundation

4. Feasibility Plan • Cover page • Table of contents • Executive summary
• Product/service
• The market
• Price and profitability
• Plan for further action
8.1
© 2004 Ewing Marion Kauffman Foundation

5. Business Plan • Cover page • Table of contents • Executive summary
• Management and organization plan
• Product/service plan
• Marketing plan
• Financial plan
• Operating and control systems plan
• Growth plan
• Appendix
8.2
© 2004 Ewing Marion Kauffman Foundation

6. Executive Summary • Narrative or plan in miniature
• 1-2 pages in length
• Be specific and to the point
8.3
© 2004 Ewing Marion Kauffman Foundation

7. Feasibility Plan Format and Tips
• pages
• Use a cover page
• Include table of contents
• Use subtitles
• Use charts, graphs, and bullets
• Put support documents in appendix
• Number pages
• Check math
• Check spelling
3rd
4th
Qtr
Qtr
8.5
© 2004 Ewing Marion Kauffman Foundation