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Question 4 (Marks: 40) After studying your chosen entrepreneur, you are inspired to start your own business

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Question 4 (Marks: 40) After studying your chosen entrepreneur, you are inspired to start your own business. Compile a business plan for your own business, using the information provided below. Be sure to include all the relevant sections in your business plan. You will use this business plan to iron out all the details of your new business and to apply for funding from your bank.

Background: You have investigated a location in a small but busy shopping centre close to where you live. After strong negotiations the landlord he has agreed to giving you 50sqm for R3 500 per month rental. It has a sink, counters, plugs, an extractor fan and fridge (you will have to provide the other equipment) all of which you know will meet the Health and Safety regulations.

Section:

Cover page

Executive summary 250 words

Description of business 250-300 words

Basic marketing plan 250-300 words

HR and staffing plan 250-300 words

Basic Income and Expenditure account for 3 months (refer to template provided)

Operational plan 250-300 words

Summary of risks associate with your business:

1. Three financial risks

2. Three potential operational risks

3. Suggestions to overcome identified risks 200 words

General:

Structure, spelling and grammar of plan Use of resources (at least three sources excluding prescribed textbook)