1. The Business Plan

2. What is a Blue Print?

3. Blueprints What purpose does the blueprint serve? Who is responsible for the blueprint? – Who helps build it Who is allowed to see the blueprint? Are you allowed to change a blueprint? What would happen if construction workers went into a job without a blueprint?

4. The Business Plan We discussed this briefly last week Basically, the business plan is necessary for every business before they “open their doors” – Before you start your business – you need to make sure that you have covered everything – Not doing so – leaves you scrambling looking for quick solutions Often results in the failure of your business

5. The Business Plan You will be responsible for assembling a “Business Plan” for your final evaluation and handing it in before your Dragon’s Den presentation – Your group will be responsible for writing this over the course of a week

6. The Business Plan GROUP WORK AGAIN! Get into your Groups from last week With your group you will be Brainstorming – Think of all the possible, specific, facets of the business that an entrepreneur must think of before it begins – Example: They need to know what merchandise to sell – Try to get over 30 things on your list!

7. Let’s Compile a List

8. The Business Plan Set realistic goals Plan what Products/services you will provide How Your Business will operate What resources will you need? (human, material, technical, financials) How will the day-to-day be run? Marketing research (4 P’s) Who is your target market?

9. The Business Plan Identify the management team and set roles of all employees Project your costs and revenues Obtain Financing

10. The Business Plan The sections 1)Executive Summary – A one page “Coles’ notes” version of your whole business plan – If the reader only has one page to read – this is it 2)The Idea – Outline of your idea – What are you going to sell and why? – Where are you going to locate? – Why is your business going to work? 3)Competition – Who is your direct and indirect competition? – What makes your store unique and how do you differentiate yourself

11. The Business Plan The Functions of your business. Information will include but is not limited to: 4)Marketing – A breakdown of all of your marketing information – Target Marketing, Advertising, Logos, Slogans, Store Name, Selecting Media, etc. 6)Human Resources – Staffing & Training, Job Descriptions, who to hire, how many employees 7)Management – Establishing a Hierarchy – The day-to-day Operation of your business (store hours, responsibilities)

12. The Business Plan 8)Accounting – What assets or liabilities will you have? – What expenses and revenues will you have? – Specific #’s 9)Finance – Where to get your $$$ (loans, investors) – Budgeting 10) Conclusion – Explain to the reader why your business is a good idea to invest in and/or shop at

13. The Business Plan Your business plan will : – Double Spaced – Written in full sentences for the most part You may have charts, graphs, lists – Be 5-8 Pages Long – the more specific your information the better – Tie your business to the material we have covered in class thus far – Include headings for all the different sections