small business plan assignment

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Writing a Business Plan

While it may be tempting to put off, creating a business plan is an essential part of starting your own business. Plans and proposals should be put in a clear format making it easy for potential investors to understand. Because every company has a different goal and product or service to offer, there are business plan templates readily available to help you get on the right track. Many of these templates can be adapted for any company. In general, a business plan writing guide will recommend that the following sections be incorporated into your plan.

Executive Summary

The executive summary is the first section that business plans open with, but is often the last section to actually be written as it’s the most difficult to write. The executive summary is a summary of the overall plan that highlights the key points and gives the reader an idea of what lies ahead in the document. It should include areas such as the business opportunity, target market, marketing and sales strategy, competition, the summary of the financial plan, staff members and a summary of how the plan will be implemented. This section needs to be extremely clear, concise and engaging as you don’t want the reader to push your hard work aside.

Company Description

The company description follows the executive summary and should cover all the details about the company itself. For example, if you are writing a business plan for an internet café, you would want to include the name of the company, where the café would be located, who the main team members involved are and why, how large the company is, who the target market for the internet cafe is, what type of business structure the café is, such as LLC, sole proprietorship, partnership, or corporation, what the internet café business mission and vision statements are, and what the business’s short-term objectives are.

Services and Products

This is the exciting part of the plan where you get to explain what new and improved services or products you are offering. On top of describing the product or service itself, include in the plan what is currently in the market in this area, what problems there are in this area and how your product is the solution. For example, in a business plan for a food truck, perhaps there are numerous other food trucks in the area, but they are all fast –food style and unhealthy so, you want to introduce fast food that serves only organic and fresh ingredients every day. This is where you can also list your price points and future products or services you anticipate.

Market Analysis

The market analysis section will take time to write and research as a lot of effort and research need to go into it. Here is where you have the opportunity to describe what trends are showing up, what the growth rate in this sector looks like, what the current size of this industry is and who your target audience is. A cleaning business plan, for example, may include how this sector has been growing by 10% every year due to an increase in large businesses being built in the city.

Organization and Management

Marketing and sales are the part of the business plan where you explain how you will attract and retain clients. How are you reaching your target customers and what incentives do you offer that will keep them coming back? For a dry cleaner business plan, perhaps if they refer customers, they will get 10% off their next visit. In addition, you may want to explain what needs to be done in order for the business to be profitable. This is a great way of showing that you are conscious about what clear steps need to be taken to make a business successful.

Financial Projections & Appendix

The financial business plan section can be a tricky one to write as it is based on projections. Usually what is included is the short-term projection, which is a year broken down by month and should include start-up permits, equipment, and licenses that are required. This is followed by a three-year projection broken down by year and many often write a five-year projection, but this does not need to be included in the business plan.

The appendix is the last section and contains all the supporting documents and/or required material. This often includes resumes of those involved in the company, letters of reference, product pictures and credit histories. Keep in mind that your business plan is always in development and should be adjusted regularly as your business grows and changes.

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How to Choose a Phone Plan for Your Business

Every company needs an effective phone plan for their business. It’s important for all your employees to be able to communicate with each other. You also need to ensure that you can take phone calls from clients when they need to reach you. There are many office, VoIP and cell plans available, and your choice depends on what’s best for you. Here’s how to choose the best phone plan for your business. 

The Types of Business Plan

If you’re looking for the perfect business phone plan, you need to think about which will benefit your organization most. There are loads to choose from and each have their advantages and disadvantages. It’s essential for businesses to have the best communications systems, because without this you’ll lose potential customers. Many people choose systems based on their convenience, but also look at how effective they are, the costs and if the system is up to date.

With so many options, businesses rarely know where to start. However, your primary goals will enable you to find the best phone plan for your business. Do you have a large team and need a strong internal communications system? Is saving money your primary goal? Here are some business phone plans, and their benefits. 

Voice Over Internet Protocol (VoIP)

VoIP is taking over the business world, and many companies are ditching their landline service for the internet-based phone solutions. While making international calls on landlines is expensive, VoIP enables you to call anywhere in the world for no extra cost. Phone calls take place over the internet, and you can reach your employees wherever they are.

There are many VoIP solutions, including basic packages, options for mid-sized businesses and high-end solutions. It’s important to think about which solution is best for your business and avoid any hidden costs associated with high-end solutions. VoIP is great for companies and there is a range of technological benefits you won’t find with other providers. Search online to find the best VoIP providers. 

Private Branch Exchange (PBX)

PBX uses hardware to route all calls through the office to and from a central connection. It connects all employees and enables easy transfers. PBX has many benefits, including its cost-effective solutions. Employees can make internal calls without the needs of connecting to an external network. This means that businesses can save money on phone calls, which is especially useful for small companies.

There are automatic capabilities, meaning PBX systems can automatically route calls. Basically, PBX offers an all-in-one solution, but it isn’t as technologically convenient as VoIP solutions. It depends on your needs, but remember PBX systems are best if you use over 12 phone lines. Smaller businesses might find that installing and maintaining a PBX system is too expensive. 

Small Businesses

Small businesses have one thing on their mind; money. They need to find cost-effective solutions to grow their business, but not bankrupt them. Most small companies use manual key-systems to route phone calls. As you add more lines, you’ll find a manual system less convenient and harder to manage.

Key systems are great when businesses are starting out, but if your business is growing then it’s best to choose between a PBX or VoIP solution. There are many positives to manual key systems, and providers are combining technology with the systems to make them better for small business owners to maximize their internal and external communications.

Is the price right? That’s what you should be considering. Many phone providers will offer comprehensive packages for both office and cell use. Combining these will save you money in the long-term and enable you to streamline your communication procedure. The more technology you want, the higher the price. You should weigh up the benefits of cost and convenience when making your decision.

Speak to providers and ask them what bundles they offer. You’ll want to supply your employees with cell phones if they travel out of the office regularly. Choosing a phone system doesn’t have to be complicated if you know what you’re looking for and consider your price limits. 

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Business Plan Assignment

Business plan assignment  .

Assignment 01 

Executive Summary

Your perfect event starts here. Happiness Event Company is the perfect choice when having to provide a solution to all your event planning requirements. We take pride in ourselves for getting success in delivering our customers a perfectly personalized event management and coordination services.

To put it simply, we create strategic integrated shareable brand experience for our customers and to help them plan their own events with our products. Our Fully customizable party kits (full package for organizing a party) help the customers to make their events a unique creative challenge deserving of a one-of-a-kind approach.

This complete business plan includes describing our whole industry and the reason of us choosing this business. We have broadly determined the services and facilities provided by us as well in the plan. The unique and fresh ideas provided by our professionals make our company a customer favorite and the cost-effective margin charge makes us reliable to the customers.

We have also included our marketing plan, development plan and operation plan in this document. We have tried to determine our break-even analysis and we are proud to state that we can recover our initial investment within the second year of the operation. 

The last and final part of this report includes our assuming final projection and according to that, we can joyfully say that the projection shows the generation of on an average over 10% profit margin within the end of this year.                                    

Industry Analysis

Industry analysis is the important because help to understand the market position of related business. We want to startup a business as an event management. Before starting a business, we have to analysis the opportunities, market, customers demand, participant and prospect of this business in Bangladesh.

Company Description

In the company description we provide our organization's overall assessment in brief to inform our reader what our organization is and what is its mission and legal formation and so on.

Company History

Name of the Venture

The name of our event management firm will be known as 

Happiness Event Management As we start this is all field together that’s how we choose this following idea

 We also choose a tagline and that is

Events🡪 Together🡪 Being Happy🡪Memories

Legal Registration 

For the purpose of registration, the entrepreneur must acquire the following licenses.

Trade License – From Dhaka City Corporation

Article of Incorporation – From Registrar of Joint Stock Company

Tax Certificate – From National Board of Happiness Event 

Why Choose Event Management Business

As we observe our country is enriched with culture, functions, event.  This idea has come over our mind as in our country we don’t have enough event management organization and if we want to show the world our cultures than we have to present our cultural functions. As we see lots of international and national events on TV as well as on our personal appearance in different events which encourage us to choose this as our business. Moreover, this industry is small enough currently where we have to face less competitors. So, assuming all these things we think this is the business we can choose as our own business and thus the idea of Happiness Event Management turns into our business goal.

Mission Statement

Mission of Happiness Event Management will be to provide outstanding service in the areas that we served.

We Plan & Design Events

That Creates Memories

Management has a clear vision to ensure clients satisfaction and loyalty. As every event has to be perfect social, technical and creative fit, we have a collaborative approach to all the projects.

Market analysis

A market analysis provides information about industries, customers, competitors, and other market variables. we also determine the relationship between supply and demand about our Event Management service. In this part we segment our market and select our target market.

Market Segmentation

In our country the prospect of Event management is very good.

This market can be distributed into three major segments.

1. The corporate clients 

2. The non-corporate clients 

3. The Bangladesh Government 

The corporate clients

This section includes multinational companies, public and private limited companies, financial and non-financial institutions, joint ventures, franchises, small businesses, NGOs, research institutions, private and public educational institutions, social marketing companies, theater groups, cultural forums etc.

The non-corporate clients

This section includes marriages, get together, birthday party for the children, concert, family function and as well as social functions.

The Bangladesh Government

Another major segment in this market is the Bangladesh Government. Each year the Bangladesh Government hosts a variety of programs.

In addition, a study revealed that the customers are very much interested in event management services. 

66% of the consumers said that they are willing to appoint an event management company to organize their events if the price is affordable. 

59% of the customers claimed that they do not possess the necessary expertise to conduct a big personal event successfully without outside help. 

68% of the customers claimed that they would appoint an event management company to save time. 

22% will do it because it will make their life hassle free.

After all analysis, Happiness Event managements target market will be 

MNC and other big and small local companies which want professionalism and one stop service in managing their events.

People who are well aware of the huge amount of time and hassle it takes to arrange an event personally and also well aware of the usefulness of the professional help in arranging their personal event. 

The Bangladesh Government who sponsors a number of events every year. 

Estimate of Annual Sales

                                Sale Forecast

Service or product line 

Happiness event management is service based business, we offer reasonable product or service to support our customer.

The following products and service we provide we uses the best tools.

Party Pack 

This pack can complete any party. It includes decoration, lighting effects guide, cameras, cutlery, plates, napkins, cups, tablecloths, theme, music, invitations and step by step guideline

Happiness event management provide in wide range of applications. We try to make sure our services satisfied customer. The sample of the types of events we will plan

 in a year:

1.Meetings, Trainings and Retreat

2.Birthday, Anniversaries, Graduation 

3. Wedding, Receptions and Shower 

4.Goverment Events

5.Conference

We try to put above events in 4 categorized

1.Customized Corporate event

2.Creative Corporate event

3.Customized Personal event

4.Government event

Marketing and Sales 

Marketing is the process by which company create value for customer and in exchange successful relation with customer. Event management marketing strategy is different from other business. It mainly sales various service and in exchange take money from customer. Event management is a service business. It mainly provides service. It might be a tool for strategic marketing and communication, used by companies of every size. In this business marketing, communication is very important. So, we follow this idea so much. First, I ensure every people who engaged with our company, their communication skill should be strong. So that they communicate easily with each other and customer by which satisfied customer and good relation with customer. We can also invite our audience to our events and reach them at the actual event. So that we create many strategic and idea which help us to do a perfect marketing plan. These ideas are

#A website for our business 

#Build a high-converting landing page.

#Promote events on social media.

#Take advantages of FOMO.

#Encourage user-generated content.

#Engage attendance with email automation.

                       Promotion on social media

Follow these strategic we lead our marketing process which help us to build up a successful company. The company actually create service and sells it. Nowadays, people should not want to work. So, when they celebrate any occasion, they want helped from any event management by which they can free and enjoy the occasion. Our company provide and sells this service. We give right service from customer desire by which satisfied customer. Our main goal is customer satisfaction and stand the company with success. So that, we create right marketing planning and sells best service for customer satisfaction. Follow this strategic, we can stand the business with success.

Funding 

A great idea is not enough for stabiles a business. Foe growing a business funding is important because some survey says the capital is one of the major problems for failing a business.  Getting money for further business development is not “a piece of cake” For getting fund there are some steps. Steps are

🡪 Growing a startup idea on a solid base 🡪 Capturing as much of the market in as little time as possible

🡪Getting additional value from your investors. 

🡪Attracting the attention of the market and the future investors by having business funding

We take funds from 

1.Local bank 

2.An online company 

3. Partners 

4. Friends and Family

5.   Venture capitalists

Financial Projection

The final section of our business plan presents financial projections.  The Financial projection takes the plans we have developed and expresses them in financial terms. It includes source of funds and balance sheet.

Source of funds

Our main source of fund is the contribution of the owners and borrowing.

 The portion of funding given as follows:

Balance Sheet

A hypothetical balance sheet for upcoming year has been shown below:       

                                 Balance Sheet

Assignment 02

Business Plan Assignment is pretty common and very easy. Teachers Loves this assignment and often give it as a task. There are some Basics points  for planning or Writing A business Plan , here are they 

use this points on your assignment or task . Here is a basic and simple example of Business Plan Assignment 

  To become self-contained individuals and introduce a new type of digital shop to the people of Gopalganj, we ''The Starks'' six close friends are willing to start a fully digitalized grocery business. Our plan is to sell all types of daily necessary things under one roof. For opening the business our estimated cost will be 20 million takas.

We visited some plots at Gopalganj Sadar lakeside area and chose 4300 sq. Meter plot. It is on and research among us, we figure out that 25 employees will be enough for us in the beginning period of our business. If we can survive for a while I hope, we can expand our business and go farther.

Making a modern shop which will sell every daily necessary goods via online or physically is our business plan. There are so many online sites here doing business in our country. And they are really doing good. But the problem is that almost all of the sites or companies are doing business on a large scale all over the country. So they target a general type of people who can make an effort. None of their businesses are in any particular area.

                                                                                                                        So we are going to make something that will be effective, reasonable and affordable for Gopalganj's Residence. This is also our motto and our shop's name will be "ERA". We want to sell things with a marginable prize. Our plan is less profit per product but selling to a huge number of customers. We have a pretty basic business structure. Puja is responsible for the decoration. Mamun with support of some employees will look after the chain of supply. Bibhutos is good at accounting. So he is going to take the responsibility of every financial matter.

Yasir is the most veteran person among us. So he is up to the sales unit. Shahriar will also help him to control the online part of the business. And I will be looking after the marketing department and also I will coordinate everything.  Gopalganj Sadar and around it's Residence area is our target for business and so our shop is located at the heart of the city, in front of the Stadium. From buying the plot to starting an online service, our estimated cost is 20 million takas. Here is a chart which will show the sectors of expense.

Market Analysis  

Gopalganj city is full with public servants, university and medical students. These types of customers are our target basically. These types of customers are always looking for good products but they want them at a reasonable price. But there are so many people who live here who have the ability to buy anything they want. If we provide good service, they will notice us too.

Providing things at a good prize is a genre that always helps a new business. So, we are going to use it. In short, we want to grab the middle class and above.

Because they can understand the quality and price and they also want to have online order service which is also a part of our business. 

Currently our online competitors are Daraz, Ali express etc. But they don't sell root level products that we are going to sell like toothpicks, cotton bars etc. And they don't sell groceries. But the best thing is there is no one root shop in Gopalganj. So it will be a good benefit for us. 

Organization and Management  

"EAR" is going to be a partnership business. Each of us, that means six partners will hold equal revenue and profit. The reason why we started as partners is because alone we can't build. Such a type of business. When you have partners that means you have someone to hold your back in bad times.

We six agreed on some things and signed a deed. That says if it is needed we will change our business entity. We will run our business by discussion and talking to each other. A famous person with a good reputation will fill our business to run.

      Service Or Products  

We will sell groceries, dry food, drinking water, fruits, tools, daily needed products, fresh meats, fish and shrimps etc. People can buy these from our shop or order them on our website. Our delivery personnel will deliver orders within 1 hour. 

We have varieties of products. So their life cycle not same, dry food, fish, meat has a life cycle of

1-3 days. Groceries have 15 days to 6 months and other things could have a life cycle of years.

There are no one roof shops here in Gopalganj. So in the beginning we will not face any big of Marketing Challenges which others face having competitions. But our online market will face problems because there is competition. Who is doing business right now. But we can deliver products within 1 hour. Same quality, same price, sometimes less other companies will need 2 or 3 days. While we can deliver in 1 hour. Thus our products and service will solve the long time duration delivery problem. Our business doesn't have any issue with copyright or patents. So we do not have any plan on this matter.

       Marketing And Sales

Well our business is pretty local. So our market plan has to reach the locals. Every winter the DC of Gopalganj arranges a fair at the river side of the main town. Covering the fair will spread our name. We will also through commercials on some Gopalganj based YouTube and local cable channels.

 People can buy products directly from our shop or they can order their necessary goods via online. We’ve already built an app from which propel can order. They can view and verify their needed things. They can scanch them and compare them as well. Produced and expired dates will also be provided and the payment method is also simple. Buyers can pay via Bkash, Rocket, Nagad even with a visa card. Our profit margin is not that big, otherwise we want to make our sales range enormous.

 Funding Request 

Funding is the toughest part off a business. According to our estimate and research we will need 20 million takas to start our business. Our plan is to take a loan from a local bank to finance our business. All of our partners have same assets back to their families. Total of our assets will be enough for our "Bank Sarity" we have a 4 years plan to payback the Bank. Our business will be a running business. So we can get back a huge portion of our money very soon. Two of our partners fathers are going to retire within two years. They will help us to pay back debt. It will be a huge support for us because by this we can avoid an enormous growth of bank interest. So we will pack to the parents not to the bank and we will not pursue debt financing

Financial Projection 

Financial Projections Well we figure out that if we can stick to our plan and hold our account and finances fight we get a good profit. If everything goes right and we can achieve at least 5% market share, we can get back 35-43% of our investment. But if things go the opposite way and become dirty then we also have some back up plans. But if we can't get back 20% of our investment back and increase our revenue that means we have to quit our business. If we really need to quit then we will sell all the assets we have, return money back to the bank and exit the business.

  [ Based on Bangladeshi Business Environment ]

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BUSINESS PLAN ASSIGNMENT LAN1042 ENTREPRENEURSHIP

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Howtos > How to complete a Business Plan Assignment?

Why do people need a business plan, importance and benefits of writing a business plan, components of a business plan, 1. executive summary, 2. company description, 3. sales strategy.

Market Analysis

Porter's Five Forces Framework

Financial Projections

Funding requirements.

Competitive Analysis

Description of products and services, organizational and management structure.

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Recommended short video about business plan writing.

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