Week 5 discussion | Business & Finance homework help

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BUS599Week5discussion.docx

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Week 5 discussion

For this week’s discussion, respond to the following:

Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).

How does your business work? Describe the day-to-day flow of activities necessary to deliver your product or service to customers. Wherever applicable, identify costs. Be sure to address the following, as applicable to your chosen business in the response, using headings:

·
Facilities.

· Describe the facility, including its location.

· Specify whether it is rented or owned; include any associated costs.

· Estimate the cost of utilities, such as water/sewer, gas, electricity, and trash removal.

·
Production Process/Description of business operations.

· Describe the production process (how you will produce the product) or describe how your business will operate if this is a retail or service company.

· Identify the equipment, furniture, vehicles, etc. you will use and associated costs.

· Explain your approach to quality control.

· Explain your approach to inventory, as applicable.

·
Personnel Needs

· Specify the number of employees you plan to have, including managers.

· Identify their roles, wages, and/or salary.

BUS599Guidelines.docx

COMPANY GUIDELINES

· You will create a business plan for a
for–profit startup company of your choice and you must adhere to the guidelines in this document.

· You will be the CEO of the new business.

Explanation

Business Size

· Your business is a for profit startup starting operations in January of the current year.

· Your sales must be over $1 million by the end of the second year in business.

Product or Service

· Be specific about the product or service you plan to sell and how you will differentiate yourself from similar products or services in the marketplace.

· You will list any variations of the product (product lines) or services you sell (service lines)

Market Size

· You will start marketing and selling the product or service in your geographical area within a 100-mile radius from your home and/ or online.

Intention to Raise Money

· You will develop the business plan with the intention to raise funds from investors and grow the business.

· You will raise funds from outside investors, either angel investors or venture capitalists and you will give equity in your business in exchange for the money you raise from investors.

Facility

· You will rent or purchase. You will need to identify the cost of rent or purchase price and the cost of utilities.

· You cannot operate from your home.

Employees

· You will have employees, a management team, and you will develop your own organizational hierarchy.

· You will have more employees and managers in the second year than in the first year as your sales are increasing.

Equipment

· You will need to purchase equipment, computers, furniture, vehicles (etc.), as applicable, to run your business.

Key Business Plan Parameters

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