Overview – Prepare a business plan outline for a start-up company. Please include: Title page, Table of Contents, and Appendices. The report will be double spaced, 12 font and in APA format. References must be included in the paper.
The type of business will be a Food Truck Business, a bakery truck for bread and dessert.
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Because this is a group project, I am only required to complete 4 portions of the business plan, they are listed below with more information and specific requirements:
IV. Strategic Plan (25 points)
Consists of the following: Mission, Goals, Core competency and Sustainable Competitive Advantage, and Situation Analysis (SWOT)
V. Marketing Strategy (50 points)
Define the approximate size, in units and dollars, of the target market for each of the company’s products/services.
Provide management’s estimate of the company’s market share and associated industry rank for both the last three years (actual) and the next three years (projected).
What has been the growth and profitability history of the industry, and what are its future prospects? If the projected growth rate exceeds the historical growth rate, discuss the major factors behind the company’s assumptions (e.g., technological breakthroughs, lower production costs that can be passed on to customers).
In which geographic areas are the company’s sales concentrated?
Please explain why customers have purchased/will purchase the company’s products/services. What benefits do your products/services offer to your customers (e.g., quality, service, price, styling, convenience, and improved technology)? What previously unsatisfied customer needs do the company’s products/services fulfill?
How will the company’s products/services be marketed (i.e., pricing, promotion, advertising, trade show participation, distribution channels/sales organization, customer service/warranty program, return privileges)?
VI. Competitive Analysis (35 points)
Explain the competitive forces that affect your industry and/or market segment (i.e., rivalry among existing firms, threat of new entrants, threat of substitute products, bargaining power of suppliers, bargaining power of customers).
Define your major competitors’ future goals, current strategies, and assumptions about the industry.
Compare the company’s strengths and weaknesses with those of its major competitors.
Provide an analysis of how the company’s management plans to capitalize on competitors’ weaknesses and how it will counteract competitors’ strengths. Understand the competitions’ strengths and weaknesses, as well as your own, are key to defending your market share, uncovering market opportunities and developing an effective unique selling proposition.
Explain how the company differentiates/will differentiate its products/services from the competitions.
Describe how your company will monitor the competition on the continual basis.
XI. Controls (20 points)
Outline the control that will be used to monitor progress and allow upper management to review implementation results and spot products/and or services that are not meeting their goals.