Using your business you selected in the first week, prepare a simple business plan using the structure provided below. Please post your business plan in the assignments section by the end of the week assigned.
Structure of the Business Plan
1.Describe your business including a discussion of the product or service, customers, location, physical plant, general market area. (4 points)
3. Describe, in very specific terms, why your business will have a decisive competitive advantage. As part of this section identify your key competitors and discuss exactly why your business will be better than your competitors. (10 points)
4. Describe the market in which your company will operate. This discussion of the market needs to include estimates in dollars, of the size of the market. You also need to discuss what market share (in dollars or percentages) you expect to capture within the next two years. You need to explain why you expect to capture this market share and explain why your competitive advantage (discussed in section 3) will give you this market share. (10 points)
5. Prepare a forecast of the operating budget for the next two years. Use the format and approach from the week two individual homework assignment (Operating leverage and forecasting assignment). Since this business is not publicly traded you do not need to carry the analysis down to the earnings per share level.
This is a hypothetical business so you will create numbers using your best estimate or personal judgment.
Please list your key assumptions at the top of the forecast. The first step is to forecast sales. Next you need to forecast variable expenses as a percentage of sales. Finally you need to identify the basic fixed expenses associated with your business. Finally you need to complete the forecasted income statement including a calculation of the operating income or EBIT, calculation of taxes (please use 40 percent as the marginal tax rate) and finally the calculation of net income after taxes. (20 points)
6. Prepare a 12 month cash budget based upon the first year of your business forecast from section 5. The cash budget should include the four sections of the cash budget homework assignment from week 4. These include Key Assumptions, Cash Budget, Working Capital Loan, and Summary of Cash Flows.
You do not need to show a working capital loan amount in the cash budget. (20 points)
7. Identify the collateral you will provide, including any personal collateral (such as personal real estate holdings) that would be available to support the loan.
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