Australia-based, Brand New, For-profit Business Venture Essay. Individual Business Model And Plan
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Individual Business Model and Plan
(Suggested structure and more specific instructions)
Suggested headings:
Cover page (please indicate your full name, student ID, class day & time, tutor’s name, and Word count)
Executive Summary (Not included in the word count)
Table of Contents
1. Introduction
- A clear introduction of your NEW business idea, make sure that first time readers can understand your business idea.
- Please also don’t reuse the business idea which has already been presented in the group assessment.(The business idea I used in presentation was online delivery like Uber eats).
2. Business Model Canvas (please make the full use of the Business Model Canvas template. Additional information/clarification can be added if necessary, but please be aware of the word limit and balance with other parts of the report)
- Customer Segments
- Value Proposition
- Customer Relationships
- Channels
- Key Activities
- Key Resources
- Key Partners
- Revenue Structure
- Cost Structure
3. Market
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
3.1. What is the size of the market? Is the market at full capacity?
3.2. What is the growth rate of the industry? How competitive is the industry? What keeps new competition from entering this market (barriers to entry)?
3.3. Is there any trend that is affecting positively or negatively firms in the industry?
3.4. How can the market be segmented?
3.5. Who and Where are the targeted customers?
3.6. Where are customers getting the product now? Who are the major competitors in the market and how strong are they?
3.7. Where is the location of the business? How many customers would potentially purchase from you?
4. Operations and Technology
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
4.1. What are the options for developing the technology (customer, off the shelf, design by yourself, or subcontract)?
4.2. What technological changes are changing or emerging that may affect the business?
4.3. What are the options for producing the product or service? (in-house, subcontract, license, joint venture or partnership, or a combination of those options).
4.4. What are the options for sales and distribution? (in-house, whole sale, distributors or sales representatives, license, joint venture or partnership, or combination)
4.5. What resources are required for development and are they available to you (skills, raw materials, components, suppliers, facilities & equipment etc)?
4.6. What are the laws and regulation relating to the business? (e.g. industry standards or regulations, personal certifications, intellectual property (patents, trademarks, copyrights), environmental liability, etc)
4.7. Has the research discovered any moral or ethical issues that you might have to address? (Please also refer to the marking rubric in subject learning guide for more information about this criteria)
5. Human Resources
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
5.1. What technical and management experience is required?
5.2. Who are the owners and what are their roles? (Entrepreneur, Manager, Technical Expert etc)
5.3. What is the ownership structure?
5.4. What are the manpower requirements?
- How many employees will you need in the 1st, 2nd and 3rd years?
- How will you find the right employees?
- How will you compensate employees (pay for time, for production, for knowledge, or a combination)?
- How will you motivate employees? From intrinsic and extrinsic perspectives, use motivation theory and Maslow needs theory.
- What training will they need on an ongoing basis?
5.5. What is the company’s growth strategy?
- How will quality be managed and maintained?
- How will organizational structures change with growth?
- What career paths will employees have available?
6. Finance
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
6.1. What are the projected Revenues from the sale of your product or service?
- From the market research, what is the selling price per unit?
- From the market research, what is the projected sales volume in "units sold?" and in "dollars sold"?
- What is the total expected revenue?
6.2. How much is the start-up costs and equipment/capital costs (see attached Appendix 1 for the template)?
6.3. Prepare the projected Profit and Loss statements for the first 3 years (see attached Appendix 2 for the template).
6.4. What are the possible sources of financing? (such as loan from bank, angel investor, family, venture capital).
- Where is the money from?
- What are the chances of getting the money?
- What will you have to give up?(opportunity cost)
References
12-15 references required, at least 03 academic references needed; Harvard referencing style.
Appendices
(not include the words)
Appendix 1
Start-up Costing for [Business name] - [Year] |
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START-UP COSTS |
Cost ($) |
EQUIPMENT/CAPITAL COSTS |
Cost ($) |
Registrations |
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Business purchase price |
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Business name |
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Franchise fees |
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Licences |
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Start-up capital |
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Permits |
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Plant & equipment |
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Domain names |
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Vehicles |
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Trade marks/designs/patents |
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Computer equipment |
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Vehicle registration |
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Computer software |
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Membership fees |
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Phones |
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Accountant fees |
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Fax machine |
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Solicitor fees |
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Security system |
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Rental lease cost (Rent advance/deposit) |
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Office equipment |
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Utility connections & bonds (Electricity, gas, water) |
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Furniture |
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Phone connection |
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Shop fitout |
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Internet connection |
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Computer software |
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Training |
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Wages |
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Stock/raw materials |
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Insurance |
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Building & contents |
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Vehicle |
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Public liability |
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Professional indemnity |
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Product liability |
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Workers compensation |
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Business assets |
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Business revenue |
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Printing |
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Stationery & office supplies |
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Marketing & advertising |
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Total start-up costs |
$0 |
Total equipment/capital costs |
$0 |
Assumptions: |
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All figures are GST exclusive. |
Source: business.vic.gov.au (2017)
Appendix 2
Profit & Loss for [Business name] as at [Financial Year] |
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PROFIT & LOSS |
Month 1 |
Month n |
Year 1 |
Year 2 |
Year 3 |
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Sales |
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less cost of goods sold |
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More… |
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Gross profit/net sales |
$0 |
$0 |
$0 |
$0 |
$0 |
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Expenses |
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Accountant fees |
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Advertising & marketing |
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Bank fees & charges |
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Bank interest |
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Credit card fees |
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Utilities (electricity, gas, water) |
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Telephone |
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Lease/loan payments |
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Rent & rates |
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Motor vehicle expenses |
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Repairs & maintenance |
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Stationery & printing |
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Insurance |
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Superannuation |
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Income tax |
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Wages (including PAYG) |
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More… |
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Total expenses |
$0 |
$0 |
$0 |
$0 |
$0 |
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NET PROFIT (Net Income) |
$0 |
$0 |
$0 |
$0 |
$0 |
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Assumptions: |
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All figures are GST inclusive. |
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Source: business.vic.gov.au (2017)
INDIVIDUAL BUSINESS MODEL AND PLAN
Student’s Name
Course
Professor’s Name
University
City (State)
Date
Executive Summary
Report has highlighted business model and plan for business venture of Global Tea and Coffee (GTC) shop. The GTC shop will be located at Sydney, Australia. Company offer coffee and tea products by using organic material and important customer segments in business model are Millennial generation, professional executives and freelancers. Mobile application with data analytics feature is going to be introduced by company for promoting products and also for effective customer relationships. Competition is very high in tea and coffee industry, and it can be judged from the fact that no company is successful in achieving a market share of more than 5% in this industry. Growth rate of coffee and tea industries reflect that opportunities are available but GTC shop require innovative products and technological based solutions for achieving competitive advantage in market. GTC shop will introduce the products at comparatively low prices for increasing market share at early stages of market entry. Employees training is necessary for ensuring that human resources capabilities and professional experience contribute towards achieving organizational objectives rather than becoming a liability. Employees should be motivated by offering effective compensation and benefits package, and also by providing opportunities that can help in achieving objectives related to personal career development. Selling price is $2 each for coffee and tea products, and projection show that company is going to generate a revenue of 1,000,000 in first year of operations. Owner is going to invest 30% of total start-up costs and 70% will be generated through debt financing. GTC shop is projected to be profitable in next 3 years and it can further help in expanding the organizational activities to other cities in Australia.
Table of Content
TOC \o "1-3" \h \z \u 1. Introduction PAGEREF _Toc21104353 \h 52. Business Model Canvas PAGEREF _Toc21104354 \h 52.1. Customer Segments PAGEREF _Toc21104355 \h 72.2. Value Proposition PAGEREF _Toc21104356 \h 72.3. Customer Relationships PAGEREF _Toc21104357 \h 72.4. Channels PAGEREF _Toc21104358 \h 72.5. Key Activities PAGEREF _Toc21104359 \h 72.6. Key Resources PAGEREF _Toc21104360 \h 72.7. Key Partners PAGEREF _Toc21104361 \h 82.8. Revenue Structure PAGEREF _Toc21104362 \h 82.9. Cost Structure PAGEREF _Toc21104363 \h 83. Market PAGEREF _Toc21104364 \h 83.1. Size and Capacity of Market PAGEREF _Toc21104365 \h 83.2. Growth rate, Competition and Barrier to Entry PAGEREF _Toc21104366 \h 83.3. Trends Affecting Companies in Industry PAGEREF _Toc21104367 \h 83.4. Segmentation of Market PAGEREF _Toc21104368 \h 93.5. Target Market PAGEREF _Toc21104369 \h 93.6. Major Competitors PAGEREF _Toc21104370 \h 103.7. Potential Customers PAGEREF _Toc21104371 \h 104. Operations and Technology PAGEREF _Toc21104372 \h 104.1. Development of Technology PAGEREF _Toc21104373 \h 104.2. Impact of Changes in Technologies PAGEREF _Toc21104374 \h 104.3. Options for Manufacturing Products PAGEREF _Toc21104375 \h 114.4. Options for Sales and Distribution PAGEREF _Toc21104376 \h 114.5. Resources Required for Deve...
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