Develop a business feasibility plan
Develop a business feasibility plan
Develop a business feasibility plan (60% of module)
To research and convey your business idea in report form to convince your board of directors of your organization/ or potential investors. You need to write an individual business plan. There is no set format for this but it typically should:
• A short format business plan, containing clear objectives, strategy, action programmes and financial projections (TWO YEARS’ Profit & Loss monthly, ditto CASH FLOW quarterly and a clearly worked out break-even calculation, plus a CAPITAL REQUIREMENTS PLAN showing main capital purchases and also clearly identifying sources of finance).
• Clearly describe the product/service and its unique selling proposition (USP)
• Justify its uniqueness through a preliminary data search and competitor analysis
• Determine market attractiveness e.g. market size and potential growth through identification of potential customers, market trends
• Determine business strategy with a clear route to commercialisation e.g. technical development, licensing of intellectual property, marketing and implementing
• Identify potential risks and how they will be managed
• Justify expenditure for running the event, equipment and running costs
• Describe key operational requirements e.g. premises, IT and management systems, quality requirements
• Demonstrate credibility of management team
• Demonstrate financial rewards and loan requirements for potential investors
• Indicative word count: 2,000 words +/- 5% (does not include appendices)
• The style of the report short be ‘short and sharp’ and aimed at the business community rather than ‘essay’ style
The business idea is an application that people go on to organize and join football games they pay an extra fee when booking the game
