Business Coursework Report
Business Plan
Template and Tasks
BUSINESS NAME
(for example, “ABC company Business Plan”)
Student’s Name:
ID Number:
Program:
Subject:
Group:
Teacher’s Name:
Word Count:
TABLE OF CONTENTS
executive summary.. 3
business aims and objectives.. 3
business environment.. 3
marketing… 4
Finance.. 4
Conclusion.. 5
referenceS.. 5
executive summary
This section is asummary of your business plan. Include the following information:
- What is your business idea? What is your product: are you going to sell a good or a service? What are your USPs? What are the reasons for you to choose to set up and run your own business, and believing that it will be successful? (e.g. unique idea, there is a ‘gap in the market’, other personal reasons, explain).
- What form doyou choose for your new business: a sole trader business, partnership, private limited company (Ltd), or public limited company (plc)? Give reasons explaining your choice relating to advantages and disadvantages of the chosen business form.
- What sources of business advice and support are available for your business? Consider how would you raise funds to make up the necessary capital for your new business? (Consider here the sources of financeavailable to you such as bank loan, overdrafts, grants, personal funds/savings, family and friends etc).
- State the key financial figures for your new business: such as the amount of capital required; your total start-up costs figure;when would your business break-even? What is your projected final figure for profit (or loss) by the end of the 1st year of running the business?(Simply state the figures here, explanation, calculations/reasoning will be given in the ‘Finance’ section below)
business aims and objectives
- What are your business aims (broad aspirations of your business)?
- What are your businessobjectives? Ensure that your objectives are SMART.
- Whatvision do you have for your business?
- What is your business’s mission statement (why does it exist, its purpose)?
business environment
- Conduct analysis of the external business environment in the UK using SWOT and PESTLE Identify and apply relevant informationfrom external environmentthat has an impact on your business.
- You need to conduct much research for this section and use the relevant information in your work citing the sources.
- You will need to show yourKnowledge & Understandingof these models and ability toApply the Theory considering the impact on your business.Briefly state what each model is used for and their key benefit(s). Apply the models to your business context, and consider the steps you can take in response to external factors you have identified.
- ConductSWOTanalysisand list your business’s strengths& weaknesses, identify opportunities & threats from the UK environment relevant to your business. In your SWOT evaluation, consider how you will use the information, your response, e.g. how will you minimize the threats, use opportunities (what these mean for your business).
- ConductPESTEL analysis: address each of the 6 factors of this model.Conduct secondary researchand identify points (elements) relevant for your business from the UK business environment.Cite the sources of information used. Then apply each element of PESTEL model to your business: consider what impact each element identified has on your business and how could you respond to them (i.e. what could you do to effectively respond to each factor).
marketing
- Briefly state what type of market researchyou have conducted, and from which sources (state generally) have you collected your data?
- Which segments (customer markets) are you going to target? Who would be your typical customer? (You may outline the ‘customer profile’of each segment).
- Explain and apply the elements ofMarketing Mix (4 Ps) to your business.
- In doing so, state clearly what is your product: a good or service?Provide a brief descriptionof your product, stating its features, customer benefits etc. (If you have a long list of products, you may state the main ones here, and place the longer list in the Appendices section at the end of your business plan)
- Whichpricing strategy or technique will you choose to use for setting up your prices? What will be your prices?
- How will you distributeyour product? i.e. which channels of distribution will you choose to make your product available (to sell) to your customers?
- How will you promote your product/s? It would be good to consider advertising and sales promotion in particular here.
- What are your USPs? USPs can be related to any of the 4Ps and to the customer benefits(i.e. howcustomers would benefit from what you as a business offer them). In identifying USPs it might be useful to consider where your business offer stands out (from similar competitors’ offers)and why customers would buy your product? E.g. consider quality, product design, prices (are your prices lower or higher than the competitors’ prices? Is there anything unique about your distribution?)
- Conduct research to support your points.Cite the sources of information used.Use the correct marketing terms in this section when applying all of the above to your business. This will show your knowledge & understanding of the theoretical aspects,as well as your ability to apply the concepts accurately to your business.
Finance
- How much money will you need to start your business, i.e. what is the capital required?
- Where will you get the funding for your business which will comprise your ‘capital’,which sources of finance will you use? State the proportion of contributions that will make up the capital (e.g. bank loan 50%, personal funds/savings 50%, if there are several shareholders in Ltd., or partners in partnership, what will be their individual contributions? etc.)
- Identify in a Table your business start-up costs
- It is good to also consider in a separate Table the running costs (expenses) for the first 3-6 months(especially, if you do not estimate to be earning profits straight away after launching your business).
- Your ‘capital’ must cover your start-up costs (and possibly the costs of the first 3-6 months).
- What is your estimated cash flow forecast for Year 1? (i.e. for the 1st year of your business operating on the market?).
- Conduct the break-even analysis, and identify the expected break-even (The point from which onwards your business is expected to start earning profit.)
- Back up some of the financial figures you present with researchdata, citing the sources. (E.g. justify the rent figures in the area you have chosen to set up your businessby citing the real estate company’s website; support the figures for interest rates for a business loan you may have taken, by citing a bank’s website etc.).
Conclusion
- Summarise the main aspects of your Business Plan report.
- It is good to make your conclusion somewhatanalytical, and provide agood reasoning/justification for why you believeyour new start-up business will be successful.
referenceS
List all the sources of information here making sure that your references are in theHarvard referencing format, in alphabetical order (by author’s name), stating the accessed date (for online sources).
In-text citations must match the reference list, and vice vera.
Book: “Cite them Right” by Pear and Shields (Available in the Library (LRC).
Check MyINTO Business page for “Referencing Guide (Harvard Referencing System)” which will give you clear guidance as to how use the Harvard Referencing format for in-text citations and end list of referencescorrectly.
APPENDIceS (optional section)
You may include any additional information as Appendix A, Appendix B, Appendix C etc.
TUBE COMFORT BUSINESS PLAN
Student’s Name: Khaled Al Aqeel
ID Number:
Program:
Subject:
Group: FB2K
Teacher’s Name:
Word Count:
executive summary
For my business idea I have decided to sell a good for the public, it will be a first class ticket for the undergrounds (tube). I have spoken to many people which have lived in the city of London which save stated that they dislike rush hours in the tube. (A survey will be taken for the next draft to prove that the business idea which has been created has a high demand). This idea is the first of its kind anywhere in the world since there is no underground which has space for first class passengers getting on the tube. With my personal experience while living in London I said to my self that I would pay few more pounds to just relax and have a better time in the underground.
This will become a ‘partnership’ business it will be with (TFL) Transport For London. It will give the idea a great advantage since TFL are well known and are able to spread the word about the first class tickets. Yet it might back fire since TFL might not look at this first class ticket to be of the highest importance to them.
To think of this underground as an airplane flight to one destination to another it has been proven that the first class ticket make up most of the profit of the flight. Since the tube is a destination from one station to another, so the first class ticket on the underground will most likely make up most of the profit of the underground. For the capital of this idea it will be 60% from a bank loan, 30% from friends and family, finally 10% of personal savings.
- State the key financial figures for your new business: such as the amount of capital required; your total start-up costs figure; when would your business break-even? What is your projected final figure for profit (or loss) by the end of the 1st year of running the business? (Simply state the figures here, explanation, calculations/reasoning will be given in the ‘Finance’ section below)
business aims and objectives
Aims for the business are that the tickets are going to be sold fast and are going to be a cash-cow, since they are going to be selling fast.
Objectives for this business idea are that first class tickets should sell at a steady pace. To insure that it doesn’t move from a star to a dog in a quick time, therefore it insures that it will always be a cash-cow for the longest time possible.
Visions that are set for this idea is that for the tickets to become a success they will have to target a certain target audience, which are high income people which have money to spend rather than save.
The mission statementto have a relax time getting from one stop to another in a timely fashion.
business environment
SWOT is an external analysis of a business which contest of (Strengths, Weakness, Opportunities and Threats). With ‘Tube Comfort’ it has a the largest market in London, since it has a majority of people in the working class. Due to that many people will be able to afford this first class ticket daily. Further-More since the majority in London use public transport but mostly the underground so these ticket are for the working class which earn a middle to high income.
Weakness for the business are that people might think that paying just a few more pounds for a 10-20 minutes underground ride. It doesn’t cover all of the working class people in the working class in London. This might make people reconsider buying this ticket just for because they are willing to save money than have more comfort for 15 minutes.
Opportunities that might be presented in the future is opening first class ticket for undergrounds not just in the city of London but for all on England. This could spark up and also make separate underground just for first class tickets.
Threats are during the time of these first class tickets are that people might only get on this first class tube for one time just to try it out then never but another ticket again.
The United Kingdom is heavily commercialized and industrialized. The working class is the majority of the population in the city are people which go to work day in and day out using the public transportation which the city offers people to use.
- Conduct PESTEL analysis: address each of the 6 factors of this model. Conduct secondary research and identify points (elements) relevant for your business from the UK business environment. Cite the sources of information used. Then apply each element of PESTEL model to your business: consider what impact each element identified has on your business and how could you respond to them (i.e. what could you do to effectively respond to each factor).
marketing
Marketing for this business idea has still not been complete this will contest of a survey from 20-50 people taking this survey for different social and economical classes which will help to prove that this business idea to be a successful idea.
The target audience for this are either from all genders, from the age of 25+. These people will be from the working class which have higher income than the average worker in London.
This product will be a first class ticket for people to buy to getting no the underground, in the city of London. It will be a private first and last cabins on the tube which have larger seats and more comfortable seats during the travel of the passengers from one stop to another. This will benefit the consumer for having more comfort traveling one destination to another having the most relaxing time during the travels on the underground.
Pricing for these tickets will be three times the prices of the regular tickets so speaking if you travel from one destination to another for the price of 2 pounds than the same distance will be for the price 6 pounds. They will be bought will travel cards that are only for the first class tickets on the underground.
Promotion for these tickets are going to be through the underground itself having the posters on the walls explain to the people that first class tickets are available for sale for each of the tubes going to one station to another.
- What are your USPs? USPs can be related to any of the 4Ps and to the customer benefits (i.e. how customers would benefit from what you as a business offer them). In identifying USPs it might be useful to consider where your business offer stands out (from similar competitors’ offers) and why customers would buy your product? E.g. consider quality, product design, prices (are your prices lower or higher than the competitors’ prices? Is there anything unique about your distribution?)
- Conduct research to support your points. Cite the sources of information used. Use the correct marketing terms in this section when applying all of the above to your business. This will show your knowledge & understanding of the theoretical aspects, as well as your ability to apply the concepts accurately to your business.
Finance
- How much money will you need to start your business, i.e. what is the capital required?
- Where will you get the funding for your business which will comprise your ‘capital’,which sources of finance will you use? State the proportion of contributions that will make up the capital (e.g. bank loan 50%, personal funds/savings 50%, if there are several shareholders in Ltd., or partners in partnership, what will be their individual contributions? etc.)
- Identify in a Table your business start-up costs
- It is good to also consider in a separate Table the running costs (expenses) for the first 3-6 months (especially, if you do not estimate to be earning profits straight away after launching your business).
- Your ‘capital’ must cover your start-up costs (and possibly the costs of the first 3-6 months).
- What is your estimated cash flow forecast for Year 1? (i.e. for the 1st year of your business operating on the market?).
- Conduct the break-even analysis, and identify the expected break-even (The point from which onwards your business is expected to start earning profit.)
- Back up some of the financial figures you present with research data, citing the sources. (E.g. justify the rent figures in the area you have chosen to set up your business by citing the real estate company’s website; support the figures for interest rates for a business loan you may have taken, by citing a bank’s website etc.).
Conclusion
The business idea which was created was to sell first class ticket in all underground line traveling under the city of London. These will target the working class which have a higher income than the average working class in London, this tickets will self sells them selves due to the connection which they will have will (TFL) that will take most of the cost out of the promotion which will draw peoples attention.
- It is good to make your conclusion somewhat analytical, and provide a good reasoning/justification for why you believe your new start-up business will be successful.
referenceS
. “Do Airlines Make Money From First Class?” Do Airlines Make Money From First Class?, 2020, bvi.org/do-airlines-make-money-from-first-class.
“Online Strategic Analysis Tool.” Online Strategic Analysis Tool, 2020, online.visual-paradigm.com/diagrams/features/strategic-analysis-tool/.
APPENDIceS (optional section)
You may include any additional information as Appendix A, Appendix B, Appendix C etc.
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