Creating a New Business–For-Profit Business

Creating a New Business–For-Profit Business

Did you ever dream of starting your own business where you could sell a good or provide a service to others? What type of business would it be? What market segment would you want to focus on?Once you decide on a type of business you would want to develop, you will design a Business Plan.You need to include the concepts that are covered during the semester.

Creating a New Business–For-Profit Business

The following are concepts that need to be included in the Business Plan……..

 

____What is the name of your company?

____What is your tagline?

____What is the purpose of your company?

____Is your business service oriented or does it provide a product?

____What markets are you targeting?

____How will the company be organized?

____Will you need to hire employees? Describe the qualifications and salaries.

____What are your goals—short-term (less than 1 yr) and long-term (1 to 5 yrs).

____Describe your competitive advantage in the market.

____SWOT Analysis (Strengths/Weaknesses/Opportunities/Threats)

____How much will you charge for your product or service?

____What are your estimates costs to start up the business? Describe them.

____How much money do you think you will need to borrow?

____How will you market the product or service?

____Will you have a logo?

____Create a sales pitch for your company.