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Business PlansFor this assignment, you will take on the role of a small business owner. We will go through the process of planning for, funding, marketing, and running a small business. This project will end with the market, at which you’ll see your business in action as you buy, sell, trade, and experience commerce with your fellow business people. Purpose-To work on your analytical, creative, and technical writing skills-To practice writing to a specific audience and in a specific format-To get a sense for what it’s like to plan and start a business-To experience a micro-economy-To gain some experience with marketing and business ownershipAssignmentA close-to-real business plan that includes market research, a funding plan, a marketing plan, pricing scheme, promotional & marketing material, and supply information. Your plan needs:-an executive summary, giving a snapshot/overview of your business (what you do, where you’ll set up, etc.)-a funding plan (where your money will come from initially, eg: self-financed, bank, etc.)-marketing & pricing plan (how you will promote your business and price your goods/services)-1 piece of promotional material (flyer, poster, commercial, giveaway item)-Business cards (1 for everyone in class and 1 for me, so 23 total)-Something to do on market day (merchandise to sell or trade, games, or a service)-1,000-1,500 wordsTimeline (flexible)Day 1In-class-Go over the basics of writing a business plan-Begin brainstorming ideasAt home-Begin prewriting planDay 2In-class-Continue brainstorming-Begin market researchAt home-Begin drafting planDay 3In-class-Continue, finish market research-Get started on business cards & promotional materialAt home-Finish drafting planDay 4In-class-Peer edit business plansAt home-Begin revising, work on promotional materialDay 5In-class-Promo day! Trade business cards, show off & give out your promotional material, and promote your business! Examples of promotional material include: flyers, prizes with your business info, and posters. Games and challenges during promo day are also highly encouraged.At home-Continue revising, prepare final draft Day 6In-class-Market day! Buy, sell, trade, and play in the microeconomy.At home-Submit final draft of plan on Canvas by midnightRequirements & Assessment-Paper is 1,000-1,500, uses 12 pt font, 1.15-2x spaced throughout, with 1” margins (2 points)-Business cards and promotional material are professional, and professionally made – notebook or printer paper won’t cut it! (4 points)-Some sort of good or service is available for purchase (with fake money, of course,) on Market Day (4 points)Content & Organization-Prose is clear, appropriate for the audience, suitably formal (2 point)-Executive Summary gives a clear view of your business (2 points)-Marketing data is utilized effectively (2 points)-Funding, Marketing, and Pricing plans are clear, well-researched and realistic (2 points)Mechanics-Mechanical Precision (free of errors in grammar, punctuation, syntax, context, format, text not justified) (2 points)
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