Assessment Title: Business Plan
Word Limit: /1500 words
Analyse small business management decision making and strategies for success
Create a three-year financial plan given a business scenario
LO5: Create a proposal for strategies to improve business performance
Assessment Description
You are required to read the scenario provided.
Jane has asked you to provide her a business / strategy plan for her business in moving forward. She
knows she needs to expand her business into another capital city as well as automate her business better to
be financially sustainable.
After reading the scenario, you will be required to submit a business plan she can take to her board to
justify the expansion including raising $350k. The plan will include the following:
• Identify capital city to expand into which will provide the more profitable return-on- investment. This
will include conducting market research to determine which capital city is suitable based on FutureProfit’s
current target market.
• The advantages and disadvantages of leasing a commercial property or renting a co- working in the new
city including the financial requirements.
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• A business model canvas for FutureProfit Pty Ltd. A good video to understand and present the business
model canvas, watch https://youtu.be/IP0cUBWTgpY (The Business Model Canvas – 9 Steps to Creating
a Successful Business Model – Startup Tips).
• Staff training needed to be future-ready.
• Two strategies / solutions you think will improve business performance and sustainability (e.g., how and
what to automate). This information will also provide the basis for capital injection (e.g., technological
requirements).
• Financial projections for the next three years
• MARKETING PLAN
• Operational plan
• EXECUTIVE SUMMARY (1 page)
• INTRODUCTION
Scenario
Jane has been operating her business consulting and accountancy practice, FutureProfit Pty Ltd, for five
years. She has done quite well for herself being in accounting for over 20 years and being recognised in
her field locally, nationally and internationally. Though she has a few clients overseas, the majority of her
client base is in Canberra, where she has resided pretty much all her life.
Despite her success, she is concerned about the sustainability of her practice over the next 5-10 years due
to the changing nature and threat of automation to the accounting / bookkeeping industry. She has read
that artificial intelligence, cloud computing and blockchain will continue to affect the industry.
Additionally, she is concerned that her staff does not have the technical, analytical, leadership and
consulting skills needed to continue their success in the future. She currently has four full-time employees:
two accountants, one bookkeeper, and one office manager. She also has two part-time bookkeepers and a
marketing/social media coordinator who all work off-site.
Her target market is SMEs who are in a growth phase and have a minimum turnover of $1 million per
annum. Though she doesn’t target a specific industry, she tends to attract those companies that are in either
health, education or the STEM (science, technology, engineering, mathematics) fields – just due to the
nature of Canberra.
She currently promotes her business mainly via word-of-mouth and networking at local professional
associations such at the Canberra Business Chamber, the Australian Institute of Company Directors, and
the Canberra Women in Business.
Last year’s sales revenue was $550,000.
Her key expenses are her own wage ($150k),
Salaries/wages ($320k),
Marketing/advertising ($50k),
and general operations ($100k).
She has two directors which she pays a token $25k each per year. She currently operates her business out
of a detached building on her property and allocated $24,000 towards rent. Jane believes that the
expansion will increase their sales revenue by 20% the first year, 30% the second year, and 40% the third
year.
Her company currently uses XERO, a cloud-based accounting software platform for small and mediumsized businesses. Other than that, no other automation has been implemented.
Capital Raise
It is anticipated that the breakdown of the capital raise will be as follows:
(a) One full-time technical programmer @$100k;
(b) one full-time accountant @$80k;
(c) $100k towards interstate expansion (including operational and occupancy costs), and
(d) $70k for marketing.
A template business plan is provided on the portal to you to use if you wish. You are not required to use
the template business plan. You are required to have a minimum of 10 references which can include
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journal articles, market research documents, government publications, industry reports, etc.
Criteria CR (Credit) 65%-74% D (Distinction) 75% – 84% HD (High Distinction) 85%-100%
Mark
Executive Summary One-page Executive Summary included. One-page Executive Summary included.
One-page Executive Summary included. /2
Introduction Introduction is good with an overview of the company and the industry it services. SWOT
analysis including trends affecting the industry needs more detail. Purpose of the plan identified. Solid
Business Model Canvas included. Very thorough introduction with an overview of the company and the
industry it services. SWOT analysis including trends affecting the industry discussed. Purpose of the plan
identified.
Thorough Business Model Canvas included. Introduction is comprehensive with an overview of the
company and the industry it services.
SWOT analysis including trends affecting the industry discussed. Purpose of the plan identified.
Comprehensive Business Model Canvas included. /8
Marketing Plan Expansion city identified with solid market research included to justify choice of city.
More depth needed of market details. Good customer and competitor details. Good marketing strategies
identified for new market. Expansion city identified with thorough market research included to justify
choice of city. Very good depth of market details including customer and competitor details. Thorough
marketing strategies identified for new market. Expansion city identified with thorough market research
included to justify choice of city. Comprehensive market details including customer and competitor
details, and marketing strategies identified for new market. /8
Operations Plan Solid details of specific
operations identified and described. Training requirements highlighted and explained. Sound business
performance strategies explained. Tenancy options discussed. Thorough details of specific
operations identified and described. Training requirements highlighted and explained very well. Business
performance strategies and tenancy options discussed in detail. Comprehensive details of
specific operations identified and described. Training requirements, business performance strategies and
tenancy options extremely thorough. /8
Financial Plan Financial details broadly identified and described. Demonstration of intermediate level
understanding of financial plan purpose. Financial details well identified and described. Demonstration of
high-level understanding of financial plan purpose. Financial details comprehensively identified and
described. Demonstration of advanced level understanding of financial plan purpose. /6
8
Answer clearly and logically presented Paragraphs are generally well
organized. Better transitions needed. The progression of ideas could be more thoughtful. Paragraphs relate
back to main arguments to prove argument. Ideas & arguments are well
structured. Thoughtful progression of ideas and details. Sound transitions between paragraphs. Major
arguments are effectively made. Ideas & arguments are
effectively structured. Thoughtful progression of ideas and details. Excellent transitions between
paragraphs. Concluding comments leave the reader thinking. Major arguments are effectively woven
throughout everybody paragraph, with ideas
always related back to main argument. /2
Appropriate theory and research used to answer question posed Good critique examines the relevant issues
and makes good observations from appropriate theory and research. Has between 5-7 references. A very
good critique considered all the relevant issues and made important observations made from appropriate
theory and research. Has between 8-9
references. Fully considered all the relevant issues and made significant observations made from
appropriate theory and research. Has 10+ references from a wide variety of appropriate sources. /2
Correct academic writing style used, including correct spelling, grammar and punctuation Sentence
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variety is adequate. Tone is appropriate. Diction is clear but could be more effective. Language is
academic, and writing is clear and effective.
Very little or no unclear or awkward phrasing Sentence variety is effective and good. Tone is appropriate
and consistent. Diction/ vocabulary is appropriate and effective. Language is academic. Writing is clear,
and concise. Sentence variety is effective and sophisticated. Tone is appropriate and consistent.
Diction/ vocabulary is sophisticated and effective. Language is academic. Writing is clear, concise, and
strong. /2
Format of answer consistent with question requirements Meets editing, spacing, fonts, and other editing
requirements. Meets almost all editing, spacing, fonts, and other editing requirements. Meets all editing,
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