FOCUS Consultancy Business Plan
Prepare a Business model and plan for an Australia-based, brand new, for-profit business venture that you might enter into in the future. This should be different from the business idea which has already been used and presented in the group assessment.• (The business idea I used in presentation was online delivery like Uber eats).
Individual Business Model and Plan
(Suggested structure and more specific instructions)
- Prepare a Business model and plan for an Australia-based, brand new, for-profit business venture that you might enter into in the future. This should be different from the business idea which has already been used and presented in the group assessment. οΌ(The business idea I used in presentation was online delivery like Uber eats).
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
15 references required, at least 03 academic references needed; Harvard referencing style.
Appendices, but you have to use.
(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)
FOCUS CONSULTANCY BUSINESS PLAN
Name:
Course:
Professor’s Name:
University:
City/State
Date:
FOCUS Consultancy Business Plan
Executive Summary
FOCUS Consultancy is an ambitious full-service consulting business that seeks to provide growth opportunities to small scale enterprises by offering solutions such as proven competitive strategies and great sales plans. As the head and manager of the company, I plan to grow the business by about 50 percent annually. The key stakeholders in this business include two professional and experienced consultants, five new consultant graduates, one administer, an accountant, and a lawyer. The target clients include business with base revenue of $500,000.
Introduction
This document presents a business model for FOCUS Consultancy, a start-up management consulting company. Although the firm will operate as an independent business, its management looks forward to collaborating with tactical and strategic partners purposely to support the business in its weak areas. In this respect, FOCUS will ensure efficiency in the delivery of its services to small business clients. The company will focus on providing value-added consulting services to small businesses across all functional areas including project management, capacity building, human resource management, and organizational change management. FOCUS’s mission is to facilitate the growth of small enterprises by serving their technical and logistical needs. The long-term vision of the company is to build a business college that will impart managers with critical knowledge and skills of developing and growing their enterprises. The goals and objectives of FOCUS are based on survival, quality, and growth. Within the next three years, the firm aims at recruiting 100 consultants with an average of 30 every year. Additionally, the company will expand its operation to involve expertise in four critical business areas – finance, marketing computer systems, management, and accounting – in the course of three years. An increase in revenue of about $500,000 will be expected within the same timeline.
Market
The Australian Bureau of Statistics revealed a 7.1% growth of the management consulting market which reached 5 billion dollars in 2017 (Consultancy.org, 2018). During the past decade, the professional services sector has grown by 30 percent becoming the country’s fourth-largest source of employment (Consultancy.uk, 2018). TecHR (2019) stated that there is a prospect for the market to grow further in the next five years. According to Consultancy.uk (2017), Australian businesses are increasingly engaging consulting companies to enhance the competency of their systems. However, in the recent past, there has been a shortage of consultant professionals with sufficient experience to meet the demands of the growing number of clients (IBISWorld, 2019). This has made it difficult for new consultancy companies to make a successful entry into the market. Digitization of a critical driving force that influences not only consulting firms operating in the Australian market but also globally. Gunasekara (2011, p.118) noted that digitization has introduced a shift in the way firms deliver their services to customers...
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