You will prepare a business plan with a systematic approach for a specific product or a
service of your choice. This project incorporates all that you have learned and
summarizes what the business plan is all about. The paper should be 6-8 double-spaced
pages in length.
A. Focus of the project
1. Product Development
You should select a consumer product or a service. The type of business should
be clearly defined.
2. Opportunity Identification
You should collect data to identify and evaluate potential market opportunities for
your business. You should use a number of criteria, (i.e. population size, general
business environment, market opportunities, SWOT analysis, competitive
analysis, and regulations) to support your decision. This part should include
market opportunities as well as market threats.
3. Developing a business plan for a business
This part consists of developing a strategic business plan for a business of your
choice. You need to identify the best types of business entity (sole
proprietorships, partnerships, corporations, LLC., S corporation), your marketing
plan (the potential target market and the marketing mix). Your management plan,
break even analysis and identification of your funding sources.
B. Model outline for the project
The following outline is the suggested topics to be addressed within the project.
They are guidelines only, and may be modified as appropriate, following student
consultation with the instructor.
1.Write a paper on Identification of company’s strengths and weaknesses
2. Opportunity identification and analysis
3. Financial resource analysis
4. Potential market trends and demand
5. Competitive analysis
6. Marketing plan (target market, product, price, promotion and place)
7. Staffing analysis
8. Impact of economic trends
9. Selection of types of business entity
C. Evaluation of the project and presentation
1. The completeness of your business plan
2. The soundness of your analysis
3. The effectiveness of your Powerpont presentation
4. Effective content coverage and professional Visual aid
A Sample Final Project Paper and Project Guideline are on files.
