Business Plan for a Startup Company

Business Plan for a Startup Company

COMPETENCIES

981.1.1 : Capstone

The graduate integrates and synthesizes competencies from across the degree program and thereby demonstrates the ability to participate in and contribute value to the chosen professional field.

INTRODUCTION

For the capstone project, you will create a business plan for a hypothetical start-up company using the scenarios provided below. In the business plan, you will need to demonstrate the integration and synthesis of competencies in all domains required for your degree program.

SCENARIO

Select the business plan scenario assigned to your degree program from the list below:

Human Resource Management Majors:

Develop a business plan for a start-up company that offers human resources products or services (e.g., training company, benefits consulting, human resources consulting, health and benefits programs, payroll, etc.).

Note: Franchises and non-profit organizations are not allowed for this project.

REQUIREMENTS

Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. The similarity report that is provided when you submit your task can be used as a guide.

Tasks may not be submitted as cloud links, such as links to Google Docs, Google Slides, OneDrive, etc., unless specified in the task requirements. All other submissions must be file types that are uploaded and submitted as attachments (e.g., .docx, .pdf, .ppt). 

Create a business plan for your hypothetical start-up company in which you do the following:

Note: You are required to utilize both the attached “Business Plan Template” and the attached “Financial Plan Template” in creating your business plan. If the attached WGU templates are not completed and submitted, your work will automatically be returned to you without being evaluated. These templates are located in the “Supporting Documents” section of the Capstone instructions .

1.  Write an executive summary (suggested length of 1 page) in which you do the following:
2.  Identify the company’s name and location.
3.  Describe the mission of the company.
4.  Discuss twobusiness goals in support of the company’s mission.

4.  Discuss threekeys to success for the company.
5.  Write a company summary (suggested length of 2–4 pages) in which you do the following:
6.  Describe the history of the industry in which the company will operate.
7.  Identify the legal form that the company will take.
8.  Describe the location and type of facilities needed for the company.
9.  Describe the management structure, including key positions and specific responsibilities.
10.  Describe the products and services offered by the company.
11.  Develop a market analysis (suggested length of 3–5 pages) in which you do the following:
12.  Describe the target market for the company’s products and services, including the specific location, demographics, etc.
13.  Complete an industry analysis for the company, including current trends and statistics.
14.  Complete a four-square SWOT analysis for the company in which you do the following:
15.  Identify threestrengths, threeweaknesses, three opportunities, and three threats.
16.  Explain eachof the identified strengths, weaknesses, opportunities, and threats.
17.  Develop a market strategy (suggested length of 3–4 pages) in which you do the following:
18.  Discuss eachof the fourPs of marketing as they relate to the company’s products and services.
19.  Develop a price list for the company’s products and services.
20.  Develop a promotional strategy including specific tasks, target dates, and responsible parties.
21.  Develop a monthly sales forecast for the first year of operations, including a discussion of expected market conditions.

Note: The sales forecast will be used as the basis for your revenue in your financial statements.

1.  Develop an implementation strategy in which you do the following:
2.  Summarize the overall strategy that will be utilized to launch your business, including target dates and goals for implementation.
3.  Develop a post-launch monitoring plan (e.g., financial impact, quality control, customer satisfaction, monitoring schedule) to evaluate the success of the company in meeting milestones.
4.  Calculate and develop the financial statements and projections for the first year of business by doing the following:
5.  Develop a month-by-month forecasted profit and loss statement using an estimate of revenues and operating costs based on the sales forecast.
6.  Develop a forecasted balance sheet for the end of year one.
7.  Write a financial report (suggested length of 1–2 pages) in which you do the following:
8.  Summarize the financial projections and the assumptions used in estimating the financial statements.
9.  Describe the company’s financial position at the end of the first year.
10.  Describe the company’s initial and future estimated capital/investment needs.
11.  Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
12.  Demonstrate professional communication in the content and presentation of your submission.