For this assignment, you will be reviewing two sample business plans. One plan is for a fish market, the other is for a tour operating company. Take a look at these two plans, and focus mostly on the general idea of each plan and what kind of market and competition they will face. Don’t worry so much about the details of their financial projections. The two plans are:
The Staff of Entrepreneur Media, Inc. (2015). Appendix A: Business plan for a retailer seeking start-up capital. Write Your Business Plan: Get Your Plan in Place and Your Business off the Ground. New York: Entrepreneur Press.
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The Staff of Entrepreneur Media, Inc. (2015). Appendix B: Business plan for a high tech company seeking financing for growth. Write Your Business Plan: Get Your Plan in Place and Your Business off the Ground. New York: Entrepreneur Press.
Once you have finished reviewing the background materials for this module and have carefully reviewed the two business plans, write a 3- to 4-page paper addressing the following questions:
- What do you think is the “unique selling proposition” or “competitive advantage” of each proposed new business? Use the Pearson tutorial on competitive analysis in your answer.
- What is the precise market segment that each proposed company will be selling to you? Do you think it is a good segment to market to? Use the Pearson tutorial on market segmentation as part of your answer.
- Based on your answers to Questions 1 and 2 above plus some SWOT analysis, which of the two business plans do you think is more promising? Use Background readings as your guideline on how to do the analysis.
First, go through the following tutorials. There are a lot of them, but they are fairly short and should give you a good introduction to the topics of this module:
Origin of business ideas. (2014). Pearson Learning Solutions. New York, NY.
Decision making and SWOT analysis. (2014). Pearson Learning Solutions. New York, NY.
Competitive analysis of business. (2014). Pearson Learning Solutions. New York, NY.
Market segmentation. (2014). Pearson Learning Solutions. New York, NY.