Business plan assessment
Assignment: you will research, develop and write a Business Plan for a start-up business idea of your choice.
you have Â£10,000 start-up capital. If you require more than this consideration must be given as to how the funds will be obtained. You cannot obtain extra money from your family or friends.
Your business must be based in Liverpool. You can decide whether to set up as a partnership or a limited company. You cannot buy into a franchise. ( my business is distance learning ( online ) )
â€¢ You must ensure that your business plan includes all the required elements stated below
â€¢ You should use the Business Plan Guide on the VLE to help you.
Your Business Plan must include the following key areas:
â€¢ Executive summary – a description of the business, its products and services
â€¢ Operations (how the business will operate, opening times, staffing, licences, etc.)
â€¢ A SWOT analysis and a PESTLE analysis
â€¢ Market research (primary and secondary)
â€¢ A marketing plan â€“ details of how you intend to promote the business; what methods of promotion you intend to use and why
â€¢ Financials â€“ resources needed, costs, projected sales revenues, cash flow forecast, profit and loss (excel template on VLE)
â€¢ Appendix – containing relevant evidence including copy of market research questionnaire, any advertising leaflets/posters, evidence of rental cost of business premises, business loan details, copies of licences.
â€¢ Contents page
â€¢ Final reference list
Individual self-reflective account: you must write a 500 word reflective account of their role in the project. This should include:
â€¢ Details of your role on the project
â€¢ An outline of the research you carried out and the sources you used.
â€¢ What went well and what didnâ€™t go well. Plus, how you overcome any problems or issues.
â€¢ An outline of the skills you used in this project.
If a student does not submit their reflective account, they will receive a 10% penalty
Marks for the Business Plan will be awarded according to the following criteria:
â€¢ Research -the extent to which the plan has been researched and the quality of the research you undertake – this should include academic sources, examples from real business, market databases, newspaper reports and reliable/trustworthy statistics. The quality and relevance of any supporting materials provided
â€¢ Content â€“ the extent to which relevant theories/concepts have been used effectively and accurately in your analysis; the relevance of content and level of detail expressed in the plan.; the extent to which conclusions have been drawn from the research carried out; the extent and depth of individual self-reflection
â€¢ Structure, coherence and clarity – the extent to which your plan is a cohesive, interconnected document. The overall clarity and structure quality of your plan
â€¢ Presentation and referencing – the quality of the presentation of the plan; consistent and appropriate formatting; accurate references and in text citation using Harvard referencing.