https://www.bplans.com/sample-business-plans/
Outcomes:
MLO 4: Describe the traditional business plan format, key components, and sections.
MLO 5: Explain the reasons for business plans and why they are important
Paper #2: Business Plan Review and Analysis
Your paper should contain 4 – 6 pages of content not including cover and reference pages, be double-spaced, use complete sentences, exhibit college-level writing quality, contain proper spelling, punctuation, word-usage and grammar and use APA style. Upload your paper once completed.
The task for Paper #2 is to read, review, and analyze a business plan of your choice. Reviewing and reading business plans puts the material we have been learning in this course, into context and brings it to life. Also, as a potential future investor or entrepreneur, it is vital to have an understanding of the role of a business plan and the knowledge to someday be able to create your own. In sum, reading and evaluating business plans is a valuable and practical exercise, as business students and also as future possible business owners and investors.
This website will take you to business plan examples that contain many sample business plans for a variety of businesses. For Paper #2, please find read, analyze, and review a business plan of your choice, either from the suggested website to business plan examples or from another source, for a business that interests you. Analyze and discuss the business plan you have chosen.
Consider the following:
The executive summary. The executive summary is like an abstract in an academic source. It briefly provides the main ideas of the paper in a paragraph or two. This information is repeated in the introduction, body, and conclusion of your paper.
Introduction. The introduction should be one or two paragraphs that set up the background and need for your idea. The Introduction should excite you and make you want to turn to the next page. If it doesn’t, the entrepreneur might lack marketing or writing skills.
In one or two pages, the business plan should convey the market opportunity and the uniquely compelling features of the business that will help it meet that opportunity and include the following.
Product and Product Line. Does the business plan accurately and effectively describe the product or service offered?
Examine the company strategy for capturing its market. The plan must clearly describe the problem the company is solving or need it is meeting for customers, and then propose a solution. Closely examine the alignment between problem and solution. Will the company actually address that need? This evaluation must take into account the product or service being offered, the operational capacity and efficiency with which the business actually can produce its product, and the quality of the proposed marketing efforts.
Understanding of the competitive landscape. The business plan should describe the competitive landscape in which the company operates, preferably by referencing Porter’s 5 Forces or another well-established tool. Look for detailed breakdowns and analyses of each of its competitors, and of how the company is different and better than the competition in a particular niche.
The management team. Look for experience, integrity, and passion in the executive team. Bios and brief highlights of each executive’s strengths and expertise should accompany standard business information such as headquarters and corporate structure. The company should have experienced advisers, either formally or informally. It is paramount that the principals involved in the business convey their passion and drive toward success with this project. If the founders have not invested their own capital into the business, or plan on keeping their “day jobs” while running the business, they might lack faith in the project.
The financial plan. Does it include sources of financing pro-forma financial statements? Are the financial projections promising and realistic?
Paper Expectations
Answer the following questions and provide any other insights.
Does the plan contain the key components outlined in the SBA Article Business Plan Components: SBA Article and summarized below, such as an Executive Summary, Company Description, Market Analysis, Organization and Management, Product or Service Line, Financial Projections?
Was the plan you reviewed compelling and organized? Explain your rationale and provide 1-2 examples that back up your claim.
Did it accurately and clearly present the business and the products and/or services offered? How do you know?
Would you invest in this particular business after reading the plan? Why?
Citation Machine is a useful tool for generating APA citations if you are needing help. Consider using Grammarly as a tool for checking and revising your writing.
