It is assumed that you’ve obtained a grant or business start-up loan for £20,000 to be paid back over period of no more than 5 years.

ASSIGNMENT QUESTION

Scenario:

In Groups of 2 or 3 you are required to develop your business idea. It is assumed that your business is either a start-up or has been trading for less than a year. It is assumed that you’ve obtained a grant or business start-up loan for £20,000 to be paid back over period of no more than 5 years. Students can add up to £5000 (Savings) per person to the £20,000 loan. Which means groups of two will have a maximum of up to £30,000 start up. Groups of three will have a maximum of up to £35,000 to start the business. You must not exceed the stated budget Realism is the key emphasis of the assignment.

TASK

You must produce an individually written business plan of approximately 2000 words including the 300-word template (Do not delete any of the template) that explains the business idea that you have worked on during the module. While you have worked in a group for your presentation, please note that this is an individual piece of work and you must not collaborate with other students on this piece of work, with the exception of the financial figures.

Report Contents

A template for your business plan has been provided on the VLE, this MUST be the only template you use. Always use the template in conjunction with the assignment brief. To avoid losing marks all sections of the business plan must be completed within the assigned word limit. Your plan must contain the following sections. Note that the sections that are shown in blue are not counted in the word count. Title Page, Business name Graphic or logo ID number.

TABLE OF CONTENTS

Section One: Business Overview

• Business Summary (Who, What, Where and How?)

• Business immediate and future aims

• Core product or service

Section Two: Management Structure

• Professional team skills

• Team member’s roles and responsibilities

Section Three: The Market

• Target Market

• Competitive advantage/USP 

Section Four: Marketing

• Market Research

• Competitor analysis

• Marketing strategies

Section Five: Operations & Logistics

• Set up costs

• Monthly Fixed Cost

Section Six: Costs and Pricing Strategy

• Margins

• Mark ups

• pricing strategy

Section Seven:

• Financials

• Cash flow

Plus 3 Year Forecast References/Academic Sources/Locations

These sections will not be counted towards the word count

ASSESSMENT CRITERIA

A template for your business plan has been provided on the VLE. This MUST be the only template you use. Always use the template in conjunction with the assignment brief. To avoid losing marks all sections of the business plan must be completed. The business plan will also form an integral part of your presentation request to obtain additional investment. Please state the amount needed in your business plan and how it will be used. (outcome) Clearly outline the business idea stating the product and service and how & where you operate, Limited, partnership etc. Market research conducted on your business start-up will be expected. The financial accounts figures can be shared across your group. However, all text in the business plan report needs to be your own. Academic Reading. Now Build a Great Business. Thompson and Tracy, (2011). Available to all on Kortex. (If the book is not showing on your Kortex please visit the I centre) Some of the Academics Covered: Adair. Blythe, Kotler, Lauterhorn Levitt, Mintzberg, Porter, Vermulen, Thompson and Tracy,