Business Plan Overview – include idea and general plan for your business. For this, it makes good business sense to make it interesting, catch the reader’s attention, sell the idea to your audience (1/2 – 1 page) – 15% 2. Business Structure – define the structure that will apply (e.g., general partnership), an overview of that structure type and why it is being chosen for the business. HW#4 is a good basis for this (1/2 – 1 page) – 15% 3. Personal Liability, Tax & IRS Information and Formation – Address the following three areas as it applies to your business. Again, HW#4 is a good basis for this (1 – 2 pages) – 20% 4. Set-Up Costs, Operating Costs, Funding & Possible Investors (if applicable) – Address these areas as it applies to your business. In addition to discussion, one can estimates costs and use a list or chart which can help present & organize this section (1 page) – 20% 5. Growth & Adaptability – Finally, discuss thoughts and plans on keeping your business. Consider choosing a structure now that can adapt with your business. For example, a sole proprietor may have plans for growing the business in the future and transition into a general partnership or LLC. Think not only about your business’ current needs, but also about what your business may need in the future – added expenses, hiring additional employees, social media to promote, market and competition, to name several areas to consider. One does not need to address each of those topics, at the same time, feel free to discuss other areas that pertain to your plan and other general business topics. Another thought to share – in light of the COVID-19 pandemic, some of my former students have included this event & how it impacts their business plan from a reality standpoint (1-2 pgs) – 20% Mechanical Requirements: 10% 1. Double spaced, 12 font size and Times New Roman style. 2. Include cover page with your name, date, and name of company. Table of contents and reference page required. 3. Use at least three (3) sources. Again, please include both in-text citations (where one is quoting or paraphrasing in the paper) and the reference page listing only sources that reflect the citations used in your paper). 4. In-text citations – if you do not know that this means, please ask (e.g., an English instructor, the library, your classmate, the Learning Center, advisor, myself). There is no excuse for not doing this in your paper – citing and giving credit where it is due.
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