Now it is your turn to take on the role of a start-up entrepreneur. Choose a business idea from the research source below. The source provides over 900 small business ideas. Choose one idea and use the Outline below to create a Business Plan Summary.
“Beauty/Personal Care Industries – Wigs” https://www.entrepreneur.com/businessideas/wigs
For this assignment, write a 5 to 7 page summary paper. Your summary should describe the opportunity, the market and potential competition, the proposed corporate structure, composition of the management team, and the funding approach to launch the new venture.
Use the below Outline to structure your paper:
1. Describe the Opportunity.
a. Description of the product or service and location (online, brick and mortar)
b. The value proposition – why would someone buy your product/service
2. Describe the Market and Competition
a. Describe the market and the end consumer. How will you reach them?
b. Who are your competitors? How will you differentiate? (Consider Porter’s 5 Forces here, as
part of the summary paper)
3. Define the Corporate Structure
a. Describe the proposed legal structure
b. Define the business location
c. Describe potential regulatory issues (i.e., licenses, permits)
4. Define the Management and Start up Team
a. Describe the core management team positions (names are not required). What
outside professional services are required?
b. Describe any additional start-up personnel
5. Define the Approach to Funding
a. Describe the start-up finding requirement (a range is acceptable)
c. Describe the source of funds (Loans, private investors, grants, angel investors). How will
the funder be approached?
Formatting Requirements
· Typed, double-spaced, using Times New Roman font (size 12) with one-inch margins on all sides; references must follow JWMI style guide and writing format. Check with your professor for any additional instructions.
Include a Cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date
· Include a References page to identify your sources
Note: The Cover page and References page are not included in the required page length.
Grade A-Honors Work and Plagiarism Free
