Developing a business plan
Develop a business plan for a start-up company that provides some type of marketing product or service (e.g., advertising campaigns, sales, online promotions). Select the type of products or services that the company will offer.
Book to reference: Abrams, R. (2014) Successful business plan: Secrets & strategies (6th ed.). The Planning Shop: Redwood City, CA. ISBN: 13 978-1-93389-546-8
Note: You are required to utilize both the attached “Business Plan Template” and the attached “Financial Plan Template” in creating your business plan.
A. Write an executive summary (suggested length of 1–2 pages) in which you do the following:
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1. Identify the company’s name and location (Austin, TX).
2. Describe the mission of the company.
3. Discuss two business goals in support of the company’s mission.
4. Discuss three keys to success for the company.
B. Write a company summary (suggested length of 4–6 pages) in which you do the following:
1. Describe the history of the industry in which the company will operate.
2. Identify the legal form that the company will take.
3. Describe the location and type of facilities needed for the company.
4. Describe the management structure, including key positions and specific responsibilities.
5. Describe the products and services offered by the company.
C. Develop a market analysis (suggested length of 3–5 pages) in which you do the following:
1. Describe the target market for the company’s products and services, including the specific location, demographics, etc.
2. Complete an industry analysis for the company, including current trends and statistics.
3. Complete a four-square SWOT analysis for the company in which you do the following:
a. Identify three strengths, three weaknesses, three opportunities, and three threats.
b. Explain each of the identified strengths, weaknesses, opportunities, and threats.
D. Develop a market strategy (suggested length of 3–6 pages) in which you do the following:
1. Discuss each of the four Ps of marketing as they relate to the company’s products and services.
2. Develop a price list for the company’s products and services.
3. Develop a promotional strategy including specific tasks, target dates, and responsible parties.
4. Develop a monthly sales forecast for the first year of operations, including a discussion of expected market conditions.
Note: The sales forecast will be used as the basis for your revenue in your financial statements.
E. Develop an implementation strategy in which you do the following:
1. Summarize the overall strategy that will be utilized to launch your business, including target dates and goals for implementation.
2. Develop a post-launch monitoring plan (e.g., financial impact, quality control, customer satisfaction, monitoring schedule) to evaluate the success of the company in meeting milestones.
F. Calculate and develop the financial statements and projections for the first year of business by doing the following:
1. Develop a month-by-month forecasted profit and loss statement using an estimate of revenues and operating costs based on the sales forecast.
2. Develop a forecasted balance sheet for the end of year one.
G. Write a financial report (suggested length of 1–2 pages) in which you do the following:
1. Summarize the financial projections and the assumptions used in estimating the financial statements.
2. Describe the company’s financial position at the end of the first year.
3. Describe the company’s initial and future estimated capital/investment needs.
H. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
ABC’s mission statement is to help customers expand their offer through a technology that enhances better marketing management, simplification of logistics, consolidation of operations, and to minimize operating costs. The Company fulfills the mission helping enterprises to distribute marketing materials digitally and physically. Precisely the startup company helps the sales team, franchises, authorized users, and channels partners with all the marketing assets they need. The Company’s mission is to become the leading marketing agency in Austin, TX, and beyond providing all manual marketing operations to small and medium-size manufacturers and retailers.(4717 words)