Question

7-2 Final Project: Business Plan Milestone Seven: Exit Strategy, Executive Summary, Reference List, & The Complete Business Plan

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Instructions

First, complete a brief succession plan. What are your long-term intentions for the business? How will investors get their money back?

Second, prepare your executive summary. The executive summary should be a one- to two-page overview of your entire plan. The executive summary should include an overview of your company information, the market opportunity that you've identified, and financial data such as financial forecasts, equity investment desired, and any long-term loans that will be needed.

Third, prepare a comprehensive reference page with all sources listed in APA format.

Last, compile all the milestones to put together a complete Business Plan. The final business plan will include all previous milestone elements, revised according to feedback received throughout this course. This milestone should be submitted by the end of Module Seven.

To complete this assignment, review the prompt and grading rubric in the Final Project Guidelines And Rubric document. When you have finished your work, submit the assignment here for grading and instructor feedback.

My business plan is a hair salon.

Answer 1

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First, complete a brief succession plan. What are your long-term intentions for the business? How will investors get their money back?

Succession Plan:

1. Presenting a high level of quality in its product line.
2. Maintaining and growing relationships with customers to generate new and repeat sales.
3. Significant spending in grass roots marketing.
4. Innovating new product offerings that will differentiate us from our competition.

My long term intentions are to open up few more stands wherein there is good demand for ice creams. This will be done by our product offerings ad their demand in first location.

Investors will get money with interest as initially I am not planning for equity. This can be done in latter project(s) when expansion mode comes in picture. Initially, paying the amount back as loan would be better.

Second, prepare your executive summary. The executive summary should be a one- to two-page overview of your entire plan. The executive summary should include an overview of your company information, the market opportunity that you've identified, and financial data such as financial forecasts, equity investment desired, and any long-term loans that will be needed.

Executive summary:

The team has over 5 years of managerial experience in the Food and retailing Industry. We will be serving interesting and new flavors of ice cream and will be open from 10:30 am until 10:30:00 pm seven days a week. The ice-cream stand will resemble a country-style nook that is clean, family friendly and geared towards social gatherings also. The theme of the stand will include white a soda fountain, pictures of Ice creams and kids and youngsters eating ice creams. There is no similar experiencing stand in the targeted area. It is also surrounded by college and hostels. The affordable menu features classic ice creams to milkshakes and sides. Clearly the competitive edge will be its reputation for quality and affordability. In addition, the clean atmosphere creates an inviting and comfortable meeting place for individuals and groups, which is conveniently located with ease of access.

There is great market opportunity as the stand is located near by hostels and colleges. In hostels at any point of time 200-250 students reside and in colleges 1000 plus students do study.

In order to earn a reasonable return on the investment, along with the ability to repay debt, strict cost-control measures will be implemented. These measures will include, among others, proper and prudent purchasing practices, maximization of product distribution through strict adherence to weights, amounts and recipes (portion control), effective utilization of personnel, and the constant search for ways to reduce the cost of sales of our products without sacrificing quality and service.

Third, prepare a comprehensive reference page with all sources listed in APA format. Last, compile all the milestones to put together a complete Business Plan. The final business plan will include all previous milestone elements, revised according to feedback received throughout this course. This milestone should be submitted by the end of Module Seven.

Following is the investment summary

Investment through Loan Amount:
Equipment Costs	5000
Interior Cost	2000
Start-Up Inventory	12,000
Marketing Cost	10,000
Chairs And Tables	1,000
Working Capital	15,000
Misc	5,000
Total	50,000

We are seeking grant funding in the amount of $50,000. The funding will be used to cover stand development, new equipments, and to hire staff. Based on the financial projections, future sales for Year 1, Year 2 and Year 3 are expected to be $100,000 $150,000 and $250,000.

References: (APA)

Ibarra, P. (2005). Succession planning. Public Management, 87(1), 18-24.

Aljeemaz, M. (2017). Business Succession Planning. Mohammad Aljeemaz.

Eckert, J., & Shetty, S. (2011). Food systems, planning and quantifying access: Using GIS to plan for food retail. Applied Geography, 31(4), 1216-1223.

Jiao, X., Feng, Z., & Yuehong, F. (2004). Discussion on HACCP plan in retail and food services [J]. Chinese Journal of Health Inspection, 2.

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