• A brief description & explanation of what your business will do
• Key personnel: Self-profile (very short biography)
• Vision and business goal (turnover/ market coverage). First 12 months & for next 2-3 years?
• What makes the business different? and why the business fit with your profile as an entrepreneur?
Section Two: Market Segment and Value Proposition
• Define and describe your market (Overview of market/ what is changing/ trends?)
• Market research to substantiate demand (Secondary/ Primary)
• Understanding your target customers
• Identifying your competitors (competitors analysis: Key competitors in the market sector you are targeting (strengths & weaknesses)
• Define your value proposition (core value proposition, USP)
• Your business model (Business Model Canvas)
Section Three: Marketing Strategy
• Launching your business (creating an identity, building your brand)
• Developing a communication campaign (Promotion and advertising – product awareness and encouraging customer loyalty)
• Communication channels/media (online and offline)
• Pricing strategy (this should relate to section FOUR)
• Location and distribution strategy
Section Four: Finance
• Start-up costs- capital items/ consumables/ overheads
• Required start-up capital (how much needed and where does the money come from)
• Outline cash-flow forecast for the first six months of operation: (Your figures will be projections based on realistic sales & expenses.)
• Projected Profit & Loss Statement.
Section Five: Essay on different forms of entrepreneurship (1000 words)
This essay requires you to compare and contrast different forms of entrepreneurs, such as eco-preneurs, intra-preneurs, social entrepreneurs, techno-preneurs etc.
You need to choose TWO different entrepreneurial context mentioned above and provide perspectives of academic literatures concerning the topic area.
Section SIX: Appendices
Include in this section any relevant appendices which support your Business Plan. Appendices are not part of the 5000 word limit for this assignment. YOU MUST INCLUDE:
1) Venture Idea Report (VIR) -formative assessment-submitted ON WOLF BEFORE 4th Nov 2014
2) Resource/ Operational plan
• Equipment required & cost for start up
• Location of business premises
• Identification of suppliers
• Staffing requirements for the business – over next 12 months
• Regulations/ Legal requirements
Final Note: Each student’s Business Plan will be different with a different number of words for each section. We encourage you to be individual, creative and innovative in the way you present your Plan, providing you follow these guidelines. However, you must aim to achieve 5000 words overall with a tolerance of plus or minus 10% words. Moreover, you should remember; ‘it is the content and quality of your work which is being assessed, not the number of words in your assignment’!
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