What are the laws and regulation relating to the business? (e.g. industry standards or regulations,  personal certifications, intellectual property (patents, trademarks, copyrights), environmental liability, etc)

4.1. What are the options for developing the technology (customer, off the shelf, design by yourself, or subcontract)?
4.2. What technological changes are changing or emerging that may affect the business?
4.3. What are the options for producing the product or service? (in-house, subcontract, license, joint venture or partnership, or a combination of those options).
4.4. What are the options for sales and distribution? (in-house, whole sale, distributors or sales representatives, license, joint venture or partnership, or combination)
4.5. What resources are required for development and are they available to you (skills, raw materials, components, suppliers, facilities & equipment etc)?

Attachments:

BUS3ENT Assignment 3 – Individual Business Model and Plan

(Suggested structure and more specific instructions)

 

Suggested headings:

 

Cover page (please indicate your full name, student ID, class day & time, tutor’s name, and Word count)

 

Executive Summary (Not included in the word count)

 

Table of Contents

 

 

  1. Introduction
    • A clear introduction of your NEW business idea, make sure that first time readers can understand your business idea.
    • Please also don’t reuse the business idea which has already been presented in the group assessment.

 

  1. Business Model Canvas (please make the full use of the Business Model Canvas template. Additional information/clarification can be added if necessary, but please be aware of the word limit and balance with other parts of the report)
  • Customer Segments
  • Value Proposition
  • Customer Relationships
  • Channels
  • Key Activities
  • Key Resources
  • Key Partners
  • Revenue Structure
  • Cost Structure

 

  1. Market

(where possible, please support this session with relevant research, facts and figures)

The following (but not limited to) major questions are to be addressed:

3.1. What is the size of the market? Is the market at full capacity?

3.2. What is the growth rate of the industry? How competitive is the industry? What keeps new competition from entering this market (barriers to entry)?

3.3. Is there any trend that is affecting positively or negatively firms in the industry?

3.4. How can the market be segmented?

3.5. Who and Where are the targeted customers?

3.6. Where are customers getting the product now? Who are the major competitors in the market and how strong are they?

3.7. Where is the location of the business? How many customers would potentially purchase from you?

 

  1. Operations and Technology

(where possible, please support this session with relevant research, facts and figures)

The following (but not limited to) major questions are to be addressed:

4.1. What are the options for developing the technology (customer, off the shelf, design by yourself, or subcontract)?

4.2. What technological changes are changing or emerging that may affect the business?

4.3. What are the options for producing the product or service? (in-house, subcontract, license, joint venture or partnership, or a combination of those options).

4.4. What are the options for sales and distribution? (in-house, whole sale, distributors or sales representatives, license, joint venture or partnership, or combination)

4.5. What resources are required for development and are they available to you (skills, raw materials, components, suppliers, facilities & equipment etc)?

4.6. What are the laws and regulation relating to the business? (e.g. industry standards or regulations,  personal certifications, intellectual property (patents, trademarks, copyrights), environmental liability, etc)

4.7. Has the research discovered any moral or ethical issues that you might have to address? (Please also refer to the marking rubric in subject learning guide for more information about this criteria)

 

  1. Human Resources

(where possible, please support this session with relevant research, facts and figures)

The following (but not limited to) major questions are to be addressed:

5.1. What technical and management experience is required?

5.2. Who are the owners and what are their roles? (Entrepreneur, Manager, Technical Expert etc)

5.3. What is the ownership structure?

5.4. What are the manpower requirements?

  • How many employees will you need in the 1st, 2nd and 3rd years?
  • How will you find the right employees?
  • How will you compensate employees (pay for time, for production, for knowledge, or a combination)?
  • How will you motivate employees?
  • What training will they need on an ongoing basis?

5.5. What is the company’s growth strategy?

  • How will quality be managed and maintained?
  • How will organizational structures change with growth?
  • What career paths will employees have available?

 

 

  1. Finance

(where possible, please support this session with relevant research, facts and figures)

The following (but not limited to) major questions are to be addressed:

6.1. What are the projected Revenues from the sale of your product or service?

  • From the market research, what is the selling price per unit?
  • From the market research, what is the projected sales volume in “units sold?” and in “dollars sold”?
  • What is the total expected revenue?

6.2. How much is the start-up costs and equipment/capital costs (see attached Appendix 1 for the template)?

6.3. Prepare the projected Profit and Loss statements for the first 3 years (see attached Appendix 2 for the template).

6.4. What are the possible sources of financing?

  • Where is the money from?
  • What are the chances of getting the money?
  • What will you have to give up?

 

 

References

12-15 references required, at least 03 academic references needed; Harvard referencing style.

 

 

Appendices

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 1

Start-up Costing for [Business name] – [Year]
START-UP COSTS Cost ($) EQUIPMENT/CAPITAL COSTS Cost ($)
Registrations Business purchase price
Business name Franchise fees
Licences Start-up capital
Permits Plant & equipment
Domain names Vehicles
Trade marks/designs/patents Computer equipment
Vehicle registration Computer software
Membership fees Phones
Accountant fees Fax machine
Solicitor fees Security system
Rental lease cost (Rent advance/deposit) Office equipment
Utility connections & bonds (Electricity, gas, water) Furniture
Phone connection Shop fitout
Internet connection
Computer software
Training
Wages
Stock/raw materials
Insurance
Building & contents
Vehicle
Public liability
Professional indemnity
Product liability
Workers compensation
Business assets
Business revenue
Printing
Stationery & office supplies
Marketing & advertising
Total start-up costs $0 Total equipment/capital costs $0
Assumptions:
 All figures are GST exclusive.

 

Source: business.vic.gov.au (2017)

 

 

 

 

 

 

Appendix 2

Profit & Loss for [Business name] as at [Financial Year]  
PROFIT & LOSS Month 1 Month n Year 1 Year 2 Year 3
Sales
less cost of goods sold
More…
Gross profit/net sales $0 $0 $0 $0 $0
Expenses
Accountant fees
Advertising & marketing
Bank fees & charges
Bank interest
Credit card fees
Utilities (electricity, gas, water)
Telephone
Lease/loan payments
Rent & rates
Motor vehicle expenses
Repairs & maintenance
Stationery & printing
Insurance
Superannuation
Income tax
Wages (including PAYG)
More…
Total expenses $0 $0 $0 $0 $0
NET PROFIT (Net Income) $0 $0 $0 $0 $0
Assumptions:
 All figures are GST inclusive.

 

Source: business.vic.gov.au (2017)