MCR012 - Entrepreneurship Research Report Business Plan Assignment

Assignment Task

A good business plan can help you secure finance, define the direction of your business and create strategies to achieve your goals. The business.gov.au Business Plan template steps you through the process of creating a solid, well-structured plan tailored to your business.

INSERT YOUR BUSINESS LOGO

You will create it during the Marketing lecture sessions, weeks 5 ~ 9 (do not include until you are sure on you final design of the business logo after that presentation !

Business Plan Summary

A paragraph per question is necessary:

• What is your Business, and what does it do?
• What industry(s) is it associated with?
• Why are you interested and passionate about starting this business?
• What are you selling, and why?
• What is your target market?
• Is there a market for your product and business?
• Is there much competition?
• Describe your unique selling position.

Products/services: What products/services are you selling? What is the anticipated demand for your products/services?

Business premises

Business location: Describe the location and space occupied/required. What is the size of the space you occupy/require? Which city or town? Where in relation to landmarks/main areas? If you have a retail business, where are you in relation to other shops? What is the retail traffic like?

Buy/lease: If you have purchased a business premises or are currently leasing, briefly outline the arrangements. If you are still looking for a lease, outline your commercial lease requirements and any utilities/facilities required.

Market position: Where do your products/services fit in the market? Are they high-end, competitive or budget? How does this compare to your competitors?

Unique selling position: How will your products/services succeed in the market where others may have failed? What gives your products/services the edge?

Anticipated demand: What is the anticipated quantity of products/services your customers are likely to purchase? For example, how much will an individual customer buy in 6 months or 12 months?

Pricing strategy: Do you have a particular pricing strategy? Why have you chosen this strategy?

Value to customer: How do your customers view your products/services? Are they a necessity, luxury or something in between?

Growth potential: What is the anticipated percentage growth of the product in the future? What will drive this growth?

Innovation

Research & development (R&D)/innovation activities

What R&D activities will you implement to encourage innovation in your business? What financial and/or staff resources will you allocate?

Intellectual property strategy

How do you plan to protect your innovations? List any current trade marks, patents, designs you have registered. Do you have confidentiality agreements in place?

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