Assessment :Business Plan (max. 3000words, excluding tables)
Topic: A comprehensive business plan for a new start-up venture produced on a group basis(4 people). The business would start in UK,London, and the owners would be Lindy, Jane, Kary, Nelly.
The business in this case is open a Liquid Nitrogen Ice-Cream shop with different special flavours. All ice-cream are freshly made to order, to give customer the freshest taste. As it is made in order, therefore all ice-cream are no artificial flavoring, no coloring, and no stabilizers, and never stored in freezers to retain the freshness.
You might refer to http://www.labmade.com.hk which is a popular, successful Liquid Nitrogen Ice-Cream shop in Hong Kong. I would like to bring this business concept into the UK market. Launching the shop with a Chic and modern fashion of eating enjoyment, and spreading a message and image that eating ice-cream no longer only related to kids and children, but suitable for all ages and gender.
I would like you to state and mention about the unique selling point(USP) of the business. As I am thinking our USP can be we produce very special and unique ice-cream flavour to our customer which they had never try before, such as Japanese Wasabi flavour, Durian flavour, Bubble Tea flavour, Seasalt milk flavour, Cucumber & Lime flavour, Oolong tea flavor, etc, and we don’t produce traditional flavor to customer. These “special” flavour will change each week, which means it can attract customer’s curiosity to try our product.
IMPORTANT NOTES: You must meet the criteria outlined below in the learning outcomes at the required level; that is, you must provide evidence of an ability to develop and demonstrate knowledge and understanding, qualities, skills and other attributes in the following areas (Learning outcomes 1, 2, 3):
1. Demonstrate an understanding of the theories surrounding SME development/growth/survival and how they relate to the wider environment of business support and economic development.
2. Assess the relevance and impact of Government initiatives in relation to the needs of SMEs, especially during start up phases.
3. Develop and evaluate business plans taking into account issues such as time management, business/market research, team management (including co-ordination and delegation), and presentation skills.
Important notes: Knowledge must be based on the core reading list:
• Carter, S. and Jones-Evans, D. (2012) Enterprise and Small Business: Principles, Practice and Policy. 3rd edn. Essex: Pearson Education Ltd.
• Burns, P. (2011) Entrepreneurship and Small Business. 3rd edn. Palgrave.
• Blundel, R. and Lockett, N. (2011) Exploring Entrepreneurship: Practices and Perspectives. Oxford University Press.
• Stokes, D., Wilson, N. and Mador, M. (2010) Entrepreneurship. Cengage Learning EMEA.
Structure of the Business Plan:
1) Executive summary
• The main business idea should be made very clear and justified ~ “Business Concept”: What is the product/service?,How will you make money?,Why is this a good business to invest in?)
2) Company Objectives
3) Vision & Mission statement
4) Description of the business
5) Key personnel and their roles
6) Strategic Plan
• Business, industry and market profile (Estimate market size)
• SWOT Analysis (additionally make a table format)
• Business strategy (defining business model, Models include reference to both strategy and implementation: How it will select its customers, How it defines and differentiates its product offerings, How it creates utility for its customers, How it acquires and keeps customers, How it goes to the market(promotion strategy and distribution strategy), How it defines the tasks to be performed, How it configures its resources and captures profit, Formulate Strategies for Competitive Advantage, Potential market share and Market penetration rate)
• Competitor analysis (focus on 1-2 main competitors with in-depth details)
• Description of product/service
7) Operational Plan (Where will you locate your business?
What business functions/activities make up your organisation?
Resources (inputs) available and needed to create your product/service? Make or Buy?
Operation process (how do you produce)?
What outputs (product/service) does your business provide?
What capacity for product manufacture and service production do you plan (number of units)?
Others: permits and regulations, environmental issues, storage, quality control)
• Marketing plan and marketing strategy
• 4Ps (In the 4Ps section, I would like to you to state 12 months of Promotional Programme (Suggest 2-4 promotional activities, a month by month programme of the promotional activities, starting some time before the product launch and continuing during the life of the product. The programme should identify each activities and state its objectives, duration and approximate cost.Please also present with a table clearly).
• Communications plan
• Production plan
• HR plan
• Description of management team
8) Capital resources plan (Required capital assets, Operating expenditure)
9) Financial plan- Funding requirements (in table format if necessary)
This section should explain: How much money do you need to implement your business plan?
Which sources of capital are available to you to cover your financing needs?
How will your revenue, costs and income develop?
How will your cash flow develop? When will you expect to break even?
How much cash is needed in the worst scenario?
What deal are you offering potential investors?
What return can investors expect?
• Loan/investment proposal
• Cash flow statement
• Risk analysis (Qualitative risk analysis, Risk matrix, risk sensitivity analysis) – and advise solutions to solve out the possible risk.
• Exit strategy
• Roll-out plan-Initial start-up costs
• Forecast sales volume
• Break even calculation
• Company valuation
10) Appendix
• Tables containing numerical information
• Assumptions
• Technical details
• Blueprints (if any)
• Founder’s CVs
• Market research results
11) Bibliography (with proper in-text reference!)
