You have decided to establish a new business in a large shopping centre. Your business could be a clothes store, food outlet, jewellery store, pet shop, chemist shop or any other small business which is contained in a shopping centre such as Bankstown Central. You are required to complete a business plan for this business.

TASK

• ? The task involves the completion of a business plan fora hypothetical business of your choosing.
• ? Your completed business plan is to contain the components and follow the structure outlined below.

  ?You must use major headings for each section (these are the numbered headings inbold listed below)

  ?Some sections will require subheadings and minor headings(these are listed underneath the major headings and are also identified in bold below).

• ? The information initalics is an overview outlining what is required in each section of the business plan.

  1)Executive summary–This contains a brief overview of your plan, what your enterprise is about and where you plan on setting up your business (in a large shopping centre, refer above).

2)Goals –
a) Short-term (12 months) b) Long-term (3 to 5 years)

The goals are what the enterprise wants to achieve. For example, a goal could be to make a two percent profit in the first year or to have two percent market share in the first twelve months.

3)Strategies– (You will need to detail which strategies your business will use to achieve its goals set in section 2)

Ways in which the enterprise plans to achieve its goals. An example could be to employ an experienced workforce or to establish operations in an area which needs the type of product or service being offered.

4)Business description and outlook –

1. a) Overview of the industry (including a situational analysis of main

   competitors);

2. b) Description of why this enterprise is being created.

This involves a discussion of the type of industry in which the enterprise will be operating and includes a situational analysis (that is, what is the situation at the current point of time). For example, if you were planning on establishing a fast food outlet, the business plan would need to include a discussion on the competitors in the location in which you are planning on establishing your enterprise.

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5)Management and ownership –

1. a) Details of the owners of the enterprise, including their shareholding;
2. b) Details of the management structure (hierarchy) and the division of

   labour

This section of the business plan will discuss the type of ownership structure which the enterprise will be established under. In this section, a decision will need to be made as to whether the enterprise will be a sole trader, partnership or private company, with a justification being provided as to why a particular ownership structure has been selected. This section is also to include an organisational chart to demonstrate the employees who report through to various managers.

6)Operational plan –

1. a) Roles of staff employed in the organisation (do this in a table one

   column staff and one column for the duties)

2. b) Inventory of equipment required to commence operations (what you

   need when you first open your store)

3. c) Layout of the floor plan (could be included in this section or the reader

   could be directed to view the floor plan in an appendix if you decide to include one)

The operational plan is a detailed set of plans providing information as to the roles and responsibilities of various people within the enterprise. For example, if your enterprise was a fast food outlet, you would require people to prepare the food, serve the food and clean up after customers have left.

7)Marketing plans –

1. a) Price (what price will your products be sold for, how much is your rent? price

   paid equipment required? Profit margin?);

2. b) Products (which products/services will your enterprise sell);
3. c) Promotion(how will the enterprise promote itself);
   1. i) Internal promotion(e.g. posters, giveaways);
   2. ii) External promotion(e.g. advertisements);

d) Place
i) Where will the enterprise be established and why;

(where will the enterprise be established);

1. ii) How will goods/services be delivered to customers?
2. iii) Is the enterprise located close to suppliers?

e) SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis

A marketing plan details how you plan to market your enterprise. This section is to focus on the “Four Ps” of marketing, namely;Price (the price you set for your products or service), Product (what you plan for your enterprise to sell to your customers), Promotion (how you are going to promote both your enterprise and your products, that is, will you advertise in the local newspaper or do an advertising campaign on national television) and Place (where you will setup your enterprise, taking into account your customer base and how you will deliver your products or services to them and how you will get your supplies from your suppliers). Justification is required for each of these elements of the marketing plan.

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8)Human resource plans –
a) Recruitment and selection plan;

i) Recruitment ii) Selection

b) Training and development;

i) Training
ii) Development

c) Maintenance of human resource function;

i) Payroll
ii) Recording of leave

The human resource plan provides information as to the current and future staffing needs of the enterprise. The human resource plan is to be prepared in conjunction with the organisational chart as this will demonstrate the numbers and classification of the types of staff required for the enterprise. The human resource plan should also contain information regarding whether recruitment and selection, training and development and maintenance of the human resource function is to be completed either “in-house” (internal) or outsourced to an external human resources consulting firm with justification as to why you have chosen this option.

9)Conclusion–A brief summary of your main points, as well as a statement as to when you are planning on opening your business to the general public.

The Business Plan must be in the format of a Business Report and contain the following:

• ? 3,500 words in length.
• ? Typed, 1.5 line spacing, normal margins, Times New Roman, size 12 font.
• ? Clearly labeled major headings, subheadings and minor headings.
• ? Includes appropriate graphs, pictures, tables, etc.