Business Plan Assignment

DEVELOP YOUR OWN BUSINESS PROJECT/PRESENTATION

(download word document of assignment)

This project can be completed in one of the following business types:

  • Sole Proprietorship (one student)

  • Partnership (two or three students)



Task 
Become an entrepreneur; brainstorm and research your idea for a business.  Then, design a plan for starting that business. (WARNING: Simple is often better) This is not a formal “Business Plan”; instead, it is an exercise that realistically addresses the questions:
  •  What’s involved?
  •  What does it cost?
  • Where will I secure the funding? 
  • How, when and where do I get started?
  •  Will I need to hire employees?
  • What kind of employees and how many?


Procedure

1. Select a type of small business that interests you. Keep in mind the following: the community needs and resources, local competition, funding possibilities (family assistance, private, commercial, or public), type of business (proprietorship, partnership, or corporation).

2. Write a plan for setting up your business. Write a persuasive plan so that a potential backer would want to lend you money to reach your goals. Include:

      • A list of goals and objectives

      • A description of the business (what it does, location, legal status [permits, regulations], equipment needed)

      • Description of the market, competition and a marketing plan

      • Projections of start-up and normal operating costs

      • A calendar projecting the phases of implementing your business

      • Projections of net income and profit

      • Explanation of how the management functions will be done

      • Description of personnel, who will you need to hire?

      • Include a list of sources used to guide you in making the plan. (Hornet Style Book)

  1. The following websites will provide you with some ideas and samples with developing your write-up. (Your write-up does not need to be a thorough as the examples on these sites)

      • bplans.com
      • entrepreneur.com
      • New York Office of Permits and Licensing:  (http://opal.gorr.state.ny.us/)

  2.  Presentation: You will be asked to present your plan to the class and some visuals are required for this portion of the project. Some examples might include:

    • a poster or PowerPoint meant to woo possible investors

    • an advertisement

    • a pamphlet

Assessment (100 points)

  • 50% written business proposal

  • 40 % presentation

  • 10% effective use of class/lab time









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