Semester Project Objectives:
- Start a fictitious business
- Choose a legal structure for your business
- Write a business plan.
- Evaluate your current hobbies and interests to come up with an idea for a business that you’d like to start.
- Establish a name for your business, a product(s) or service(s) you’d offer, and a location(s) where you’d like for your business.
- Research the competition that you would have in this niche to determine who you would be competing against for your prospective customers.
- Determine what type of ownership you would like to start your business under.
- Research the internet to identify forms and paperwork that would need to be completed in the state you would locate. Download those forms and save them.
- Using the data that you collected, create a business plan for your new company that details the following:
- Title Page
- Table of Contents
- Executive Summary
- Business/Industry Overview
- Market Analysis and Competition
- Sales and Marketing Plan
- Product or Service Offerings
- Pricing Strategy
- Sales and Distribution
- Advertising and Promotion
- Ownership and Management Plan
- Ownership Structure
- Management Team
- External Resources and Services
- Human Resources
- Operating Plan
- Financial Plan
- Income Statement
- Balance Sheet
- Utilize this link as an example.