A small business plan that includes an executive summary, company description, value proposition, market and industry analysis, competitive analysis, marketing plan, operations plan, management structure, financial projections, and future development.
The project topic will be a Food truck(s) targeted at venues, like colleges, business districts, sports events, etc.
Key First Steps:
- What will be your Theme/Menu? What will be your offering?
- What localized Metro Area will you serve, i.e., the Metro Atlanta area, Chicago area, Seattle area, etc..
Here are some links to help generate some ideas:
https://www.streetfoodcentral.com/post/28-food-truck-menu-ideas-2020 (Links to an external site.)Links to an external site.
https://restaurantengine.com/food-trucks-choose-best-locations/ (Links to an external site.) (Links to an external site.)Links to an external site.
https://www.webstaurantstore.com/blog/2042/top-food-truck-cities-in-america.htmlLinks to an external site.
Include the following sections, and use the section titles as headers in the body of your paper.
- Title Page
- Table of Contents
- Executive Summary
- Business Idea & Opportunity Analysis
- Industry Analysis
- Customer & Market Analysis
- Business Model
- Founding/Management Team
- Marketing Strategy
- Capital Requirements
- Legal Entity & Organizational Design
- Marketing Plan
- Social Responsibility
Your final business plan should be a maximum of 10-15 pages in length, not including title page, table of contents, executive summary, references page, or appendices. Therefore, each draft’s length may vary, but in general, should not exceed two pages. This is a short paper format that will require you to be concise with your writing and effectively communicate what would otherwise take many more pages to articulate.
Your paper must be in APA 7th edition format for all submissions. Each draft must include the topics listed below.
- Business Idea & Opportunity Analysis: Define the business idea, outline the value proposition, and demonstrate that it is a viable business opportunity.
- Industry Analysis: Outline the industry. Conduct a Porter’s Five Forces analysis on the industry you are targeting.
- Customer & Market Analysis: Identify your target customer. Conduct segmentation to determine your customer segments (target customers) using geographic, demographic, psychographic, and behavioral consumer data.
- Business Model: Explain your market segments, distribution channels, strategic partners, business activities, resource requirements, revenue sources, and cost drivers.
- Founding/Management Team: Select the size and composition of your founding team and any outside advise you will get from your network, including professional and personal advisors, a board of directors, mentors, and independent contractors.
- Operations: Outline your supply chain management, production processes, quality management programs, and any outsourcing relative to operations.
- Marketing Strategy: Positioning & Pricing: As an extension of the value proposition or marketing promise to the customer, Link the needs of your target market to your positioning strategy. What distinguishes you from your competitors, and it must be valuable and meaningful to your target market. Outline your pricing strategy. Provide validation as to why you are pursuing your pricing strategy.
- Legal Entity & Organizational Design: Select a legal form for your business, explain why you chose that form, and what advantages and disadvantages it presents specific to your start-up. Create a design for your start-up, factoring in the nature of the organization, business processes, outsourcing, location strategy, human resources, company culture, and ownership.
- Capital Requirements: Calculate at a high level your start-up capital requirements, create milestones and a timeline to launch based on those start-up capital requirements
- Marketing Plan: Describe and list your primary marketing goals, including objectives, and outline at a high level your marketing mix and brand strategy. Briefly outline advertising and promotion strategy.
- Social Responsibility: Write a code of ethics, vision statement, and mission statement that each reflect your core values and articulate the environmental, social, and ethical policies of the new business.
- Start Up Funding: Explain your funding strategy, including capital from bootstrapping and funding through equity, debt, or other funding sources.
- Executive Summary: While the first pages of plan, the executive summary is written last and serves as a short summary of the plan’s highlights to hopefully entice investors.