Create a condensed business plan, 8-10 pages single spaced using the Microsoft Word template provided. My chosen business will be for a children's indoor playground in my local hometown(I will provide all necessary information on the town that you need). Due March 27th, 2021.
Business name Table of Contents Synopsis2 The Management Team2 Business Objectives2 The Marketing Approach3 Location3 Facilities3 Financing3 Human Resources4 Legal Requirements4 Risk4 Synopsis (delete my explanation and insert your own synopsis) Prepare a synopsis of the plan in an executive summary and background statement. This should include a mission statement indicating in general what type of business it is and what it is going to do (written at the conclusion of the preparation of the business plan). · What is the business? · How will it make money? · How is this business unique? · Why will you be successful? · What advantages does the business have? · Who are your customers, and why is this segment attractive? · Who are the individuals starting the business, and why should investors believe in them? · How much money will you make? · What are your long-term exit strategies? The Management Team (delete my explanation and insert your own section on your team) Describe the management team. · the background of the entrepreneur and the management team. For the smaller business, it may simply include a résumé. The qualifications, experience, and education of the owner-manager are important aspects. Business Objectives (delete my explanation and insert your own section on your business objectives. What is your value propostion?) Establish business objectives. · Business size. This includes the size of the physical facilities, financial commitments, and number of employees. · Production levels. The plan should include the number of products, product lines, and unit production anticipated. · Performance levels. Sales, market share, and profit level should all be estimated and may form part of the plan. The Marketing Approach (delete my explanation and insert your own section on your marketing approach) Plan the marketing approach. · Have a Clear Concept of the Target Market · Understand the Target Market’s Needs, Wants, and Purchasing Habits. · Be Aware of Any Uncontrollable Factors That Might Affect the Marketing of the Product or Service. · Plan the Marketing Program. Location (delete my explanation and insert your own section on your marketing approach) Describe the selection of the location. The next component of a business plan is selecting the location for the business. In setting up a new business, the prospective owner needs to determine the trading area or city in which to locate. Then the owner selects the specific site within the trading area. Facilities (delete my explanation and insert your own section on your facilities) Determine the physical facilities. In preparing the feasibility analysis outlined in Chapter 3, the entrepreneur should already have prepared a detailed estimate of the total capital needed to acquire the building, equipment, furniture, fixtures, and possibly initial inventory. Financing (delete my explanation and insert your own section on your financing) Four major financial aspects of the new business should be planned in advance of opening: · Establish Capital Requirements and Make Feasibility Projections. · Determine Sources of Funding. · Plan the Accounting and Bookkeeping Systems. · Determine Financial Evaluation Measures. Human Resources (delete my explanation and insert your own section on your Human Resources approach) Plan the personnel. · Administrative Structure. · Employee Recruitment and Training. · Personnel Policies. Legal Requirements (delete my explanation and insert your own section on the legal requirements) Investigate the legal requirements. · Sole Proprietorship. · Partnership. 1. Limited partnership 1. General partnership. 1. Corporation. 1. Cooperative. 1. Joint Ventures. Risk (delete my explanation and insert your own section on the risk) Assess the risk. First, the entrepreneur should indicate the potential risks to the new venture. Next should be a discussion of what might happen if these risks become reality. Finally, the entrepreneur should discuss the strategy that will be employed to either prevent, minimize, or respond to the risks should they occur. Major risks for a new venture could result from a competitor’s reaction; weaknesses in the marketing, production, or management team; changes in government policies; and new advances in technology that might render the new product obsolete.