MBA602: Small Business Administration - Business Plan - Jane Case Study - Business Report Writing Assignment Help

Assignment Task:

Assessment Description:

You are required to read the scenario provided. 

Jane has asked you to provide her with a business/strategy plan for her business in moving forward. She knows she needs to expand her business into another capital city as well as automate her business better to be financially sustainable.

After reading the scenario, you will be required to submit a business plan she can take to her board to justify the expansion including raising $350k. The plan will include the following:
 
• Identify capital city to expand into which will provide the more profitable return-on-investment. This will include conducting market research to determine which capital city is suitable based on FutureProfit’s current target market. 
• The advantages and disadvantages of leasing a commercial property or renting a co-working in the new city including the financial requirements. 
• A business model canvas for FutureProfit Pty Ltd. A good video to understand and present the business model canvas. 
• Staff training needed to be future-ready. 
• Two strategies/solutions you think will improve business performance and sustainability (e.g., how and what to automate). This information will also provide the basis for capital injection (e.g., technological requirements). 
• Financial projections for the next three years 

Scenario:

Jane has been operating her business consulting and accountancy practice, FutureProfit Pty Ltd, for five years. She has done quite well for herself being in accounting for over 20 years and being recognised in her field locally, nationally and internationally. Though she has a few clients overseas, the majority of her client base is in Canberra, where she has resided pretty much all her life.

Despite her success, she is concerned about the sustainability of her practice over the next 5-10 years due to the changing nature and threat of automation to the accounting/bookkeeping industry. She has read that artificial intelligence, cloud computing and blockchain will continue to affect the industry. Additionally, she is concerned that her staff do not have the technical, analytical, leadership and consulting skills needed to continue their success in the future. She currently has four full-time employees: two accountants, one bookkeeper, and one office manager. She also has two part-time bookkeepers and a marketing/social media coordinator who all work off-site.

Her target market is SMEs who are in a growth phase and have a minimum turnover of $1 million per annum. Though she doesn’t target a specific industry, she tends to attract those companies that are in either health, education or the STEM (science, technology, engineering, mathematics) fields – just due to the nature of Canberra. 
She currently promotes her business mainly via word-of-mouth and networking at local professional associations such as the Canberra Business Chamber, the Australian Institute of Company Directors, and the Canberra Women in Business.

Last year’s sales revenue was $550,000 recording a modest $6000 profit. Her key expenses are her own wage ($150k), salaries/wages ($320k), marketing/advertising ($50k), and general operations ($100k). She has two directors which she pays a token $25k each per year. She currently operates her business out of a detached building on her property and allocated $24,000 towards rent. Jane believes that the expansion will increase their sales revenue by 20% in the first year, 30% the second year, and 40% the third year.

Her company currently uses XERO, a cloud-based accounting software platform for small and medium-sized businesses. Other than that, no other automation has been implemented.

Capital Raise:
It is anticipated that the breakdown of the capital raise will be as follows: (a) One full-time technical programmer @$100k; (b) one full-time accountant @$80k; (c) $100k towards interstate expansion (including operational and occupancy costs), and (d) $70k for marketing.
 
A template business plan is provided on the portal to you to use if you wish. You are not required to use the template business plan. You are required to have a minimum of 10 references which can include journal articles, market research documents, government publications, industry reports, etc. 

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