Written Business Plan: 1750 words. A COFFEE making outfit like Starbucks or Caffe Nero You realise that funding for your idea is just one of the many issues you will need to address in order to create and sustain a viable business. In order to get potential funding and interest in your idea you will need to be able to present a persuasive business idea to banks and/or potential investors. Even if you do not need start-up funding “a business plan plays a key role in allocating resources throughout a business. It is a tool that can help you attract new funds or that you can use as a strategy document. A good business plan shows how you would use the bank loan or investment you are asking for funding”. Business Link IMPORTANT: • Vision • Mission – purpose must be unique, bringing in new innovation • Broad trends – Trend analysis PEST and review impact on market industry • Industry Trends – Portal five forces – grouping and profiling • Market – Segmentation, customer behaviour, Segregation • Resources – • SWOT – Analysis, What we need? Key Factors required? Key Strategic Imperatives, Objectives and Assumptions. Threat of new comers, Threat of Substitutes, Power of Suppliers, Power of buyers • Business must be ease to replicate and at least 3 replication highlighted and indicated in profit plan • Implementation plan, growth, what is needed to be successful, short training period (hours not days) • Profit plan – Budget scale up, cost and sales forecast per units, Table should be simple, in 3 months quarterly for 3 years showing profits within 6 months and replication within 7 months and replication every 6 months Further Guide You will heavily research and evaluate your concept using primary and secondary methods so that you will be able to provide your appropriate stakeholders with a detailed formal business plan of your proposed venture. You will need to provide supporting evidence in the appendix of your plan, for example copies of questionnaires used for primary research. Reference your sources of information, from both primary and secondary data within a reference section. You are expected to be pro-active in your research – creativity and innovation will be rewarded.
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