Business Plan For A Business - 998 Words

Introduction Prior to initiating a business, it is necessary for the management and the people involved to make sure that a proper business plan is set out in order to understand the needs of the business. In addition to this, it should also be made sure that the market is properly analysed and all the competitors are studied before taking any step related to the new business. Every business has different needs and is initiated in a different scenario. The business plan under evaluation in this paper will be of a sports retailer. All the various aspects of a business related to sports will be evaluated and different elements will be understood in order to learn more. The purpose of evaluating and reviewing a business plan is to make sure that the right information is known before the business is set up and all the pros and cons are understood. Discussion Review of the Plan The business plan presented and prepared is brief and lacks a lot of detailed information. The business activity is described in a paragraph and lacks information about the place where the shop will be opened i.e. if the property is rented or already purchased by the owner. In addition to this, the description of the products is quite brief. The products that will be sold have been mentioned in the plan, but no specific information is given as to with how many products will the business initiate and to what extent does the business plan to increase its products for sale. Although the market size andShow MoreRelatedBusiness Plan For A Business1223 Words   |  5 Pagesyour own business is to prepare a business plan. A business plan is a written document describing your business future. It tells potential investors and customers what your goals are for the company and how you plan to achieve that. You will need to define your business, products and services, operating procedures and the route your company intends to take to achieve the goals that are set forth. This information summarizes the sense of your business in a single document. Business plans are inherentlyRead MoreBusiness Plan For A Business1276 Words   |  6 PagesA business plan is sometimes ignored by some people, but I think it is important to develop a good business plan. I think this should be an interesting topic to discuss about. Yesterday, I receive a phone call from a new client asking for help to build a business plan for his new business. My role in this part as a business co nsultant is to not blindly do the work for my client but asking them questions to generate information about his ideas, and level of involvement to better help him build hisRead MoreBusiness Plan For A Business840 Words   |  4 Pagesâ€Å"Business plans are statement of a business goals, reason they are attainable and plans on meeting it’ (FoxBuisness, 2013). A business plan maps the course and gives a detail plan on how these goals are achievable. It is also important to establish a solid business plan for funding. Some small business use venture capital, bank loans, personal funds, and private investors as sources of funding. The business plan must therefore, sell investors. A well-written convincing business plan can buy investorsRead MoreAn Business Plan For A Business Essay1394 Words   |  6 Pagescelebration. This business sells games and other entertainment products. This business is commercial, but has a social conscience. It wants to sell to service a need, but also hopes to enrich the lives of those it serves as it addresses a need for meaning, not just connection or celebration. This business produces original IP to compete in the entertainment industry. This business will not produce entertainment that is divisive or for purely solitary consumption. This business might start withRead MoreBusiness Plan For A Business Essay1708 Words   |  7 Pagesbrand-new business, expand an existing company, or get financing for a business venture, you will need to write a business plan. A business plan not only lends your business a sense of credibility, but also helps you to cover all your bases, increasing your chances of success. Although writing a business plan can be a lengthy, intimidating project, it is not necessarily difficult. Here is an overview of how to write a successful business plan. What to Include in Your Business Plan Your businessRead MoreBusiness Plan For A Business1546 Words   |  7 Pagesenterprise, especially a business, usually with considerable initiative or risk†. They are usually characterized as people with greatly valued self-reliance, with high optimism and people who who strive for distinction through excellence. I am interested in starting my own basketball business and becoming an entrepreneur. In order to start a business I need a business plan. From research, I have learned that my business plan needs to have an executive summary, identification of my business, financial recordsRead MoreBusiness Plan For A Business1221 Words   |  5 PagesBusiness plans are documents used for planning out specific details about your business. They can range in size from a simple few sentences to more than 100 pages with formal sections, a table of contents and a title page. According to Entrepreneur Magazine, typical business plans average 15 to 20 pages. Comprehensive business plans ha ve three sections business concept, marketplace and financial and these are broken down into seven components that include the overview or summary of the plan, a descriptionRead MoreBusiness Plan For A Business2550 Words   |  11 PagesActivities 1. Review current menu in terms of business focus 2. Get staff feedback 3. Get customer feedback 4. Point out restaurant goals and business 5. Write menu redesigning proposal 6. Get restaurant owners approval 7. Initiate stake holder support 8. Get stake holders approval and contribution 9. Redesign new menu 10. Trail with restaurant stake holders 11. Modify the trail menu 12. Mass print the modified RESOURCES 1. Restaurant business plan, current menu, current and historical sales reportRead MoreBusiness Plan For A Business1866 Words   |  8 Pages Business Plan Buiness model in theory and practice according to Wikipedia is used for a broad range of informal and forma l descriptions to represent the core aspects of a business, including the purposes of that business, its process, target customers, of ferings, strategies , infrastructure, organizational structures, trading practice, and operational processes and policies . Below, we would look at two kinds of business model (franchise and tradition al business) , their pros and cons, o r theirRead MoreBusiness Plan For A Business2550 Words   |  11 PagesActivities 1. Review current menu in terms of business focus 2. Get staff feedback 3. Get customer feedback 4. Point out restaurant goals and business 5. Write menu redesigning proposal 6. Get restaurant owners approval 7. Initiate stake holder support 8. Get stake holders approval and contribution 9. Redesign new menu 10. Trail with restaurant stake holders 11. Modify the trail menu 12. Mass print the modified RESOURCES 1. Restaurant business plan, current menu, current and historical sales report