What is a business plan? • It is a document that describes what you plan to do and how you plan to do it.
Why do you need a business plan? • Set objectives • Share strategy easier • Make decisions- hire people, rent new space • Selling your business • Get business partners • Loans • Investments
What is in a business plan? • Business Concept Section- Executive summary, business description • The Marketplace Section- Market Strategies, Competitive analysis,design and development plans, Operations and management plan • Financial Section- Start up costs and on going costs
Slide 1- Company Description Write one paragraphs of about 4-7 Sentences describing what your how you got started, and how you plan on being successful and get people to learn about your products and company. Remember to mention that you are an online company • Mr. Reyes’ Little Mexican Drinks was started after I noticed that I found a really great tasting drink that I have never tried before. The best part is that I found it for a very low price. Now I am interested in spreading the word about this awesome drink while also making a profit. I started this online company in order to make a living and to make some extra spending cash. I will do my best to make this successful by keeping costs low and by advertising online and using the social media to get the word out. Our great deals will have customers coming back for more!
Company Description • Mr. Reyes’ Little Mexican Drinks was started after I noticed that I found a really great tasting drink that I have never tried before. The best part is that I found it for a very low price. Now I am interested in spreading the word about this awesome drink while also making a profit. I started this online company in order to make a living and to make some extra spending cash. I will do my best to make this successful by keeping costs low and by advertising online and using the social media to get the word out. Our great deals will have customers coming back for more!
Slide 2- Management • Pretend this is after high school. You will create a fictional mini biography about yourself that would let investors feel confident that you are the right person for starting a business. Consider including the follow: education, experience, technology skills, ability to reach out to customers, etc. About 1 Paragraph 4-7 sentences (talk in the third person)
Owner- Mr. Reyes • Mr. Reyes graduated from the best university in Arizona….ASU! With a Bachelor’s in Business Administration. While completing his degree, he worked his way from a cashier to manager for the Fuddruckers restaurant chain. After completing college, Mr. Reyes worked in produce distribution sales where he sold large qualities of produce in the amount of over $20 million dollars for a company that had less than 20 employees. His background also includes working as a financial advisor for Vanguard Mutual Group. He is also a tech-savvy individual that has developed a website and app in his spare time which are beneficial skills to compete in the digital age.
Slide 3- Marketing (Answer these in 1 sentence or less each) • Product: What will you be selling? Provide 1 picture of what a my look like. • People: Who would like your product? (Families, kids, older people, gamers, fight fans, sport fans, etc. • Promotion- How will you promote your product? (banner ads, pop up ads, social media, networking, etc. • Place- Where will you sell your product? (Hint: you have answered this question already) • Price- How much will you charge for your product?
Marketing • Product: Mexican Drinks only available in Mexico or near the border. • People: Tourist that have tried it. People that enjoy trying new drinks. Convenience stores. • Promotion- Social Media (Facebook/Twitter), Online ads such as banner ads, Google ad sense. Youtube viral videos • Place- Online store • Price- $10 for a case of 24 tall cans
Slide 4- Competitive Analysis Answer these questions: Who are your competitors? How will you compete with your competitors? Examples: Prices, largest pizza, quality service, better products, etc.
Competitive Analysis Who are your competitors? • We are competing against all other refreshing drink companies out there. This includes sodas, teas, juices, and more! How will you compete with your competitors? • Many of these drinks are unique to Mexico therefore we have an each over the competition.
Slide 5 • Go online and find the prices of 7 things you will need to help make your business successful. • Examples: Price of online hosting of webpage, Cost of accessories needed to make or get product, computer, printer, cabinets, shipping boxes, etc. • In PowerPoint, go to the Insert Tab to insert a Pie Chart. Add the item and prices for each in the Excel piece that appears.