Produce a business plan for a hypothetical business you might like to establish. This should be a small
business in scale and should be of your own design. While your business may be similar to other
established businesses it must not be a franchise. For purposes of this assignment the business should
also be a physical one and not purely online.
Your business plan should contain each of the following sections. For an example plan see Chapter 16 of
the textbook “Small Business Management in the 21st Century”.
Part One: Introduction
A: Executive Summary: Create a one page summary for your plan. Appears first but is done last. This is a
very important part of your plan and should include details about marketing, finance and operations.
B: Business Philosophy / Mission Statement: Outline the philosophy of your business and its mission.
C: Product/Service Description: Describe the products and/or services you will be providing. Outline the
customer benefits and why your chosen product/services will be successful. You must also include retail
prices in this section and estimate how many units you will sell for each product on a monthly basis.
D: Self Analysis: Explain why you are a good candidate for starting up your business. Ideas to ponder:
reliability, creativity, teamwork skills, education, list special talents such as computer skills etc
Part Two: Marketing Research
E: Conduct Secondary Research in the following areas:
1) Geographic Data: Population description that tells how many people live in a certain area.
2) Demographic Data: Statistics such as age, gender, income and marital status, family size.
You will want to include the data that will have a direct impact on your business.
F: Primary Research: Explain what methods of marketing research you will be relying on such as surveys,
focus groups or both. Include a copy of your draft marketing research survey questions.
G: Competition: As a new business owner, you must analyse your competition.
1) Direct Competitors: Businesses selling similar products and services
2) Indirect Competitors: Businesses selling different products while fighting for a customer’s
disposable income.
State why/how you will do a better job than your competitors.
H: Market Segment Analysis – Target Customer: Using the secondary data collected previously, help the
reader understand exactly who your target customer is and why this customer would want to purchase
your product/service.
I: Analysis of Potential Location: Please include the following information in narrative form.
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