BMGT 330- week 8 -final project

7/8/24, 7:05 PMProject 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
In this project, you will complete the business plan that can be used to solicit
investors or financing for the new business. The purpose of this assignment is to
develop the critical thinking and entrepreneurial mindset necessary to translate the
idea into a money-making business. Along with critical thinking skills, you will
develop research, communication and data evaluation skills.
Outcomes You Will Meet by Completing This Project:
apply the basic steps involved in developing a comprehensive business plan
for both starting and operating a business by creating your own business plan.
describe and explain the environments that businesses operate in—social,
economic, political, technological, environmental, and legal.
develop your business vocabulary and knowledge of concepts, trends, and
current issues by applying them in all course work.
demonstrate the use of software and Internet sources by researching and
planning the start-up and operation of your business.
demonstrate the use of a marketing assessment process to develop a
marketing plan and a marketing strategy.
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
analyze and explain projected financial performance, using selected financial
ratios.
NOTE: All submitted work is to be your original work.
Instructions:
Using the idea chosen in Project One and the sections written in Project Three,
complete your business plan by completing the operating, financial, and executive
summary sections of the plan.
Go back to Project 3 and using the feedback from your instructor, make
improvements or updates to the first elements of the Business Plan. Then, integrate
the first part of the Business Plan into this project to bring together all elements of
your Business Plan.
Use the format in The Elements of a Business Plan: First Steps for New
Entrepreneurs except you will create an introductory letter followed by the Executive
Summary as the first elements in the Business Plan. Although the document that
shows the format indicates that the Executive Summary is Step 7, it is important that
the Executive Summary is at the beginning of the Business Plan so that a financial
institution or investor can quickly read and understand your business idea.
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Approach the plan as we did in class. Include the information retrieved from the
research in the Action Plan as well as any other material you have gathered to
complete the assignment. Be sure to compile the plan in the correct order and as
directed in the class-directed form. Course material and research should be used to
support all conclusions.
Note: Feedback received from part two should be reflected as corrections in
the final draft and will receive 5 points in the rubric.
Review the Paper
Read the paper to ensure all required elements are present. Use the grading rubric
to ensure that you gain the most points possible for this assignment.
Proofread the paper for spelling and grammatical issues, and third-person writing.
Read the paper aloud as a first measure;
Use the spell and grammar check in Word as a second measure;
Have someone who has excellent English skills to proof the paper;
Consider submitting the paper to the Effective Writing Center (EWC). The
EWC will provide 4-6 areas that may need improvement.
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Submit the paper in the Assignment Folder
===========================
How to Set Up the Plan
Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point
font. The final product does not have a page length but you are required to provide
a title page and reference page.
Write clearly and concisely. The business plan must be typewritten and neatly
packaged in a form presentable to a financial institution or investor.
As some businesses are more complex, no specified number of pages is required.
The key is to ensure that all critical portions of the plan are covered in sufficient
detail to portray in-depth thought and effort. Some areas may not apply to all
businesses.
Financial statements are important, and you are expected to provide pro forma
balance sheets, income statements, break-even analyses, and cash flow
projections.
The body of the paper should consist of a heading for each required element.
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Use the grading rubric and instructions as guides. Be sure to cover all that is asked
of you in the assignment and do so in a way that will guide the professor into giving
a high grade. Finally, all work that you submit for this project should be your own.
Requirements for the Assignment
Before you begin writing the plan, you will read the following requirements that will
help you meet the writing requirements.
Read the grading rubric for the assignment. Use the grading rubric while
writing the paper to ensure all requirements are met that will lead to the highest
possible grade.
Third-person writing is required. Third person means that there are no words
such as “I, me, my, we, or us” (first person writing), nor is there use of “you or
your” (second person writing). If uncertain how to write in the third person,
view this link: First, Second, and Third Person.
Contractions are not used in business writing, so you are expected NOT to use
contractions in writing this assignment.
You are expected to paraphrase, which can be learned by reviewing this
link: Quoting and Paraphrasing.
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
You are responsible for in-text citations and a reference list.
The expectation is that you provide a robust use of the course readings and
relevant sources from the UMGC Library to support ideas, reasoning and
conclusions.
When using a source document, the expectation is that the information is
cited. Note that a reference within a reference list cannot exist without an
associated in-text citation and vice versa.
Due on Jul 9, 2024 11:59 PM
Hide Rubrics
Rubric Name: Project 4
Print
Criteria
Business DescriptionIntro to business and
objectives should
Excellent
Proficient
Sufficient
Needs Improv
24 points
18.9 points
16.8 points
14.4 points
Business description
includes all aspects of
Business description
includes misses one
Business description
includes most major
An attempt
description
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Excellent
Proficient
Sufficient
Needs Improv
include a business
the criteria as defined
by the reference tool;
description was
logically concluded by
using ideas that were
supported with a
thorough use of class
material and research
and reflects an
insightful and
complex
understanding as to
the purpose and
objectives of the
business.
minor aspect of the
criteria as defined by
the reference tool;
description was
logically concluded by
using ideas that were
supported with use of
class material and
research; reflects a
good understanding as
to the purpose and
objectives of the
business but mission
statement was
underdeveloped.
aspects of the criteria
as defined by the
reference tool;
description was
logically concluded by
using ideas that were
supported with use of
class material and
research; reflects a
sufficient
understanding as to the
purpose and objectives
of the business but
mission statement was
vague and or under
supported.
made; only a
aspects of t
as defined b
reference to
described; n
mission stat
was provide
statement w
supported a
underdevelo
overview with
description of the
products and or services
being provided; mission
statement provided and
explained Ref: Writing a
Business Plan Course
tool for more specifics
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Market AnalysisIncludes description of
industry (size, location,
history competitiveness,
profitability, general
health, trends,
opportunities, threats,
target customer profile
Ref: Writing a Business
Plan Course tool for
more specifics
Excellent
Proficient
Sufficient
Needs Improv
29 points
23.2 points
20.3 points
17.4 points
Market Analysis
includes all aspects of
the criteria as defined
by the reference tool;
description was
logically concluded by
using ideas that were
supported with a
thorough use of class
material and research
and reflects an
insightful and
complex
understanding as to
the external
environment in which
the business will
operate.
Market Analysis
includes misses
one minor aspect
Market Analysis
includes most major
aspects of the criteria
as defined by the
reference tool;
description was
logically concluded by
using ideas that were
supported with use of
class material and
research; reflects a
sufficient
understanding as to the
external environment in
which the business will
operate but was vague
and or under
supported.
An attempt
Market Anal
made; only a
aspects of t
as defined b
reference to
described; n
was provide
analysis was
supported a
underdevelo
of the criteria as
defined by the
reference tool;
description was
logically concluded
by using ideas that
were supported
with use of class
material and
research; reflects a
good
understanding as
to the industry in
which the business
operates was
underdeveloped in
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Criteria
Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Excellent
Proficient
Sufficient
Needs Improv
one area.
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Competitive
Assessment- Review of
specific competitors
with profile that
includes critical
weaknesses/strengths;
competitive advantages,
market share, price etc.
how your business will
compete Ref: Writing a
Business Plan Course
tool for more specifics
Excellent
Proficient
Sufficient
Needs Improv
29 points
23.2 points
20.3 points
17.4 points
Competitive
assessment includes
all aspects of the
criteria as defined by
the reference tool;
description was
logically concluded by
using ideas that were
supported with a
thorough use of class
material and research
and reflects an
insightful and
complex
understanding as to
the business’s
competitors.
Competitive
Assessment misses
one minor aspect of
the criteria as defined
by the reference tool;
description was
logically concluded by
using ideas that were
supported with use of
class material and
research; reflects a
good understanding as
to the business’
competitors but was
underdeveloped in one
area.
Competitive
assessment includes
most major aspects of
the criteria as defined
by the reference tool;
description was
logically concluded by
using ideas that were
supported with use of
class material and
research; reflects a
sufficient
understanding as to the
business competitors
but was vague and or
under supported.
An attempt
Competitive
Assessment
made; only a
aspects of t
as defined b
reference to
described; n
was provide
assessment
weakly supp
and underde
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10/19
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Marketing PlanIncludes details on
products and services
offered, price charged,
distribution system, and
promotional efforts Ref:
Writing a Business Plan
Course tool for more
specifics
Excellent
Proficient
Sufficient
Needs Improv
29 points
23.2 points
20.3 points
17.4 points
Marketing Plan
includes all aspects of
the criteria as defined
by the reference tool;
description was
logically concluded by
using ideas that were
supported with a
thorough use of class
material and research
and reflects an
insightful and
complex
understanding as to
the promotion of the
business products or
services offered.
Marketing Plan
includes misses one
minor aspect of the
criteria as defined by
the reference tool;
description was
logically concluded by
using ideas that were
supported with use of
class material and
research; reflects a
good understanding as
to the promotion of
the products or
services offered by the
business but was
underdeveloped in one
area.
Marketing Plan includes
most major aspects of
the criteria as defined
by the reference tool;
description was
logically concluded by
using ideas that were
supported with use of
class material and
research; reflects a
sufficient
understanding as to the
promotion of products
or services offered by
the business but was
vague and or under
supported.
An attempt
Market Plan
made; only a
aspects of t
as defined b
reference to
described; n
was provide
plan was we
supported a
underdevelo
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Operation Plan includes
description of internal
organizational structure,
operations, and
equipment, how
business is owned,
managed, personnel and
physical resources,
potential legal issues
Ref: Writing a Business
Excellent
Proficient
Sufficient
Needs Improv
20 points
16 points
14 points
12 points
Operation Plan
includes all aspects of
the criteria as defined
by the reference tool;
description was
logically concluded by
using ideas that were
supported with a
thorough use of class
material and research
Operation Plan misses
one minor aspect of
the criteria as defined
by the reference tool;
description was
logically concluded by
using ideas that were
supported with use of
class material and
research; reflects a
Operation Plan includes
all aspects of the
criteria as defined by
the reference tool;
description was
logically concluded by
using ideas that were
supported with a
thorough use of class
material and research
An attempt
operational
made; only a
aspects of t
as defined b
reference to
described; n
of the plan w
provided an
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12/19
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Excellent
Proficient
Sufficient
Needs Improv
Plan Course tool for
and reflects an
insightful and
complex
understanding
internal operations of
the business.
good understanding as
to the internal
operations of the
business but was
underdeveloped in one
area.
and reflects a sufficient
understanding as to the
internal operations of
the business but was
vague and or under
supported.
weakly supp
and underde
20 points
16 points
14 points
12 points
Financial plan includes
all aspects of the
criteria as defined by
the reference tool;
description was
logically concluded by
Financial plan includes
all but one minor
aspect of the criteria
as defined by the
reference tool;
description was
Financial plan
includes all aspects
of the criteria as
An attempt
financial pla
made; only a
aspects of t
as defined b
reference to
more specifics
Financial Plan- Includes
description of current
business status of the
new venture, present
and future forecasts of
financial statements, if
using plan to seek
defined by the
reference tool;
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Excellent
Proficient
Sufficient
Needs Improv
financing include type
using ideas that were
supported with a
thorough use of class
material and research
and reflects an
insightful and
complex
understanding as to
current financial
status of the new
venture and future
forecasts.
logically concluded by
using ideas that were
supported with a
thorough use of class
material and research
and reflects a good
understanding as to
current financial status
of the new venture and
future forecasts but
was underdeveloped in
one area.
description was
described; n
of the plan w
provided an
weakly supp
and underde
and amount of financing
needed with repayment
terms as well as
potential
logically concluded
by using ideas that
were supported
with a thorough use
of class material
and research and
reflects reflects a
sufficient
understanding of
the financial status
of the new venture
but was vague and
or under supported
as to either the
current financial
status the new
venture and or
future forecasts.
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Executive Summary is
one page in length;
highlights the important
aspects of the venture
plan; is located in the
beginning of the plan
Ref: Writing a Business
Excellent
Proficient
Sufficient
Needs Improv
29 points
23.2 points
20.3 points
17.4 points
Executive Summary
includes all aspects of
the criteria as defined
by the reference tool;
description was
logically concluded by
Executive Summary
includes all but one
minor aspect of the
criteria as defined by
the reference tool;
description was
Executive Summary
includes all aspects of
the criteria as defined
by the reference tool;
description was
logically concluded by
An attempt
executive su
was made; o
aspects of t
as defined b
reference to
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15/19
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Excellent
Proficient
Sufficient
Needs Improv
Plan Course tool for
using ideas that were
supported with a
thorough use of class
material and research
and reflects an
insightful and
complex
understanding of the
important highlights
of the new venture.
logically concluded by
using ideas that were
supported with a
thorough use of class
material and research
and reflects a good
understanding of the
important highlights of
the new venture.
using ideas that were
supported with a
thorough use of class
material and research
and reflects sufficient
understanding of the
highlights of the
business plan but
vague in its summation
or missed on aspect.
described;
summation
detailed and
summary wa
supported a
underdevelo
20 points
16 points
14 points
12 points
Excellent sources were
used to support the
Good outside sources
were used to support
Poor outside sources
were used to support
Little to no a
sources wer
more specifics
Outside research
selection used materials
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Excellent
Proficient
Sufficient
Needs Improv
that are reputable,
ideas and conclusions
drawn throughout the
paper and they were
of academic quality
and demonstrated
appropriate
application to the
topic under
discussion.
the ideas and
conclusions drawn
throughout the paper
and they were of
academic quality and
demonstrated
appropriate
application to the topic
under discussion.
the ideas and
conclusions drawn
throughout the paper
and they mostly were of
academic quality and
demonstrated
appropriate application
to the topic under
discussion.
support the
conclusions
throughout
and/or the a
quality was
or failed to
appropriate
topic under
discussion.
20 points
16 points
14 points
12 points
Specific feedback
given by instructor
was used completely.
Most feedback given
by the instructor was
used.
Some feedback given
by instructor was used.
Little to no f
given by the
instructor w
includes data sources
and are appropriate for
the topic intended
Content: Use of Project
Two Feedback
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Criteria
Writing Mechanics,
Organization and
Format
Excellent
Proficient
Sufficient
Needs Improv
20 points
16 points
14 points
12 points
Includes clear and
concise language that
uses appropriate
style, has a rich
vocabulary, and is free
of grammatical &
spelling errors.
Includes clear and
concise language, but
the style and
vocabulary are
inconsistent or
imprecise at times.
The writing has some
minor errors.
Includes some clear
and concise language,
but the style and
vocabulary are very
inconsistent or
imprecise at times. The
writing has many minor
or major errors.
Includes lan
that lacks cl
and/or is no
concise. The
evidence of
proofreadin
attempt at a
conventiona
mechanics,
vocabulary.
Total
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/ 240
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Project 4: Final Business Plan – BMGT 330 6381 Entrepreneurship and New Venture Planning (2245) – UMGC Learning Manag…
Overall Score
Excellent
216 points minimum
Proficient
192 points minimum
Sufficient
168 points minimum
Needs Improveme
144 points minimum
Submit Assignment
Files to submit
(0) file(s) to submit
After uploading, you must click Submit to complete the submission.
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19/19
1
NAME: FINLEY OBEN
DATE: 06/23/24
2
Business Plan for GreenTech Innovations
Business Description
GreenTech Innovations aims to create sustainable and environmentally friendly
technological solutions as an inventive enterprise. It is our mission to promote a healthier planet
by overcoming environmental issues using radical innovation strategies. Specifically, we
specialize in the production of items and services aimed at minimizing environmental pollution
levels, stimulating the adoption of renewables, and supporting the development of sustainable
behavior plans. We offer cutting-edge solar collectors, solar heat pumps with auxiliary power,
photovoltaic/thermal systems, solar air and water heaters, as well as some other products like
solar stills, cookers, and dryers. Through integrating artificial neural network (ANN) technology
in these systems, our objective is to improve their efficacy and thus enhance the feasibility of
using solar energy across many sectors. Through the use of advanced technology, we intend to
take a leading position among other companies in the sector of environment-friendly
technologies, thus assisting in the worldwide shift of the economy into sustainability.
We at GreenTech Innovations have a mission of taking maximum utilization of
intelligent system-orientated methodologies to ensure that solar devices perform at their best.
Our mission is to be at the forefront of the green revolution with our state-of-the-art, effective,
and viable photovoltaic products, which can satisfy increasing worldwide energy consumption
patterns and protect nature. Besides developing our products, GreenTech Innovations engages
itself in an ongoing process of researching new ways of improvement so as not to lag behind the
progress of science and changing consumer preferences. We have a group of experienced
personnel who work day and night trying to come up with better ideas about how our
3
commodities can meet environmental requirements by being efficient and long-lasting in
function.
Market Analysis
There is massive growth in the market for green technology; this comes from increased
environmental concern as well as the imperative call to fight global warming. As per Grand
View Research (2023), there will be high expansion rates in the global green technology and
sustainability sector, estimated at a CAGR of 21. 6% between 2020 and 2027. Governments
driving policies towards renewable energy, technological improvements, and an increasing
number of people who prefer environment-friendly goods have contributed to this growth and
development of the sector.
Solar power has gained dominance as the main driver in the non-hydroelectric new
energy space across most regions. The European Commission (2023) describes the European
Green Deal, which highlights the role of green technology in reaching climate neutrality goals by
2050, propelling further demand. Moreover, the integration of artificial intelligence and machine
learning models for leveraging renewable energy systems increases the effectiveness and
dependability of green technologies, as concluded by Elsheikh et al. (2019), hence improving
their acceptability among consumers as well as investors.
Competitor Assessment
GreenTech Innovations is competing with well-known firms like SunPower Corporation,
Tesla’s SolarCity, and First Solar in trying to sell its solar energy systems. These companies
provide almost the same products or services as GreenTech Innovations.
4
The market recognizes SunPower Corporation because of its high-performing
photovoltaic modules. SolarCity by Tesla is unique for bundling the Telsa brand with integrated
sun-powered options as provided by itself. On the other hand, First Solar specializes in
constructing large photovoltaic projects and claims to have better technology than anyone else.
What sets GreenTech Innovations apart from the rest is the advanced ANN technology
incorporated into their photovoltaic applications making them highly efficient and adaptable.
Adding on their commitment to sustainable practices and ensuring that clients are happy with
their services makes GreenTech Innovations a favorable contender in the sector.
Efficiency and low cost are essential in the photovoltaic market today. These types of
solar systems may not perform consistently well under the standard sun as a result of issues
surrounding this traditional form of solar energy. GreenTech Innovations seeks to cater to
dependable, efficient as well as high-performing photovoltaics through the integration of
artificial neural networks into improved photovoltaic system design(s) (Yadav & Chandel,
2014).
GreenTech Innovations stands out for taking a more comprehensive view of
sustainability wherein it combines renewable energy solutions with energy saving appliances as
well as waste refinery plants. We stay ahead because we prioritize continuous improvement,
engage in extensive research, serve clients well, and make sure that what we offer is not just ecosensitive but also user-sensitive and economical. Through strategic partnering as well as
investment in state-of-the-art technologies, we intend to remain in the lead position even as the
market grows and becomes more favorable towards sustainable development.
Marketing Plan
5
Our solar energy systems are optimized for maximum performance using ANN
technology. Some of the products in our range are solar collectors, solar-assisted heat pumps, as
well as solar air and water heaters, PV/T systems, solar stills, solar cookers, and solar dryers,
which have been improved to offer the best available technology for harnessing solar energy. We
aim to establish GreenTech Innovations as the market leader in environmentally friendly
products suitable for domestic and commercial markets. The approaches that we will use to
communicate to our intended clients include digital marketing, content marketing, social media
participation, and participation in industry events and trade shows. One of the key elements in
this plan will be digital marketing, especially through SEO and PPC, which will improve the
website’s visibility and online traffic. In addition, we shall develop educative, entertaining
material on social sites so that we can connect with many people who follow it either
individually or in organized groups.
Taking part in industry events and trade fairs will give us a chance to showcase our work,
connect with important people in the sector, and understand client preferences and tendencies.
Moreover, we shall form associations with environmental bodies and opinion shapers so that we
can extend the coverage of our message. We shall carry out intensive market research and
analyze data to ensure that we put enough effort into the right place to guarantee the success of
our products in the market. By doing this, GreenTech Innovations hopes to create a well-known
brand that is popular among consumers because it speeds up the incorporation of
environmentally friendly engineering.
Financial Projections
Pro Forma Financial Statements:
6
GreenTech Innovations aims to present realistic and attractive financial projections to
convince investors of the company’s profitability and growth potential. The following projections
are based on extensive market research, anticipated market penetration rates, and average
industry costs. They cover the first five years of operation.
Year
Revenue
COGS
(Cost of
Goods
Sold)
Gross
Profit
Operating
Expenses
Net Profit
1 $2,500,000
$1,250,000 $1,250,000 $1,000,000 $250,000
2 $5,000,000
$2,250,000 $2,750,000 $1,500,000 $1,250,000
3 $7,500,000
$3,250,000 $4,250,000 $2,000,000 $2,250,000
4 $10,000,000
$4,000,000 $6,000,000 $2,500,000 $3,500,000
5 $12,500,000
$4,500,000 $8,000,000 $3,000,000 $5,000,000
Assumptions about revenue
Year 1: Entering the market with forceful marketing and low production capacity.
Year 2: Increased production capabilities and increased market share
Year 3: Continous expansion of markets and increase in customers
Year 4: The market will be aware of its presence, and it will have a stable clientele.
Year 5 – There is growth in other sectors through new products/international trade.
Assumptions on COGS
7
-Covers prices linked to materials, manufacture, or delivery.
-The more efficient the production processes are, the lower the COGS.
Operating Expenditure
-Advertisement and selling activities should create a strong brand for two years running.
-Research costs were considered so that there would always be improvements made to
products.
-With business growth, administrative expenses as well as overheads will increase
accordingly.
Projected Balance Sheet
Year
Assets
Liabilities
Equity
1 $3,500,000
$1,500,000
$2,000,000
2 $6,000,000
$2,000,000
$4,000,000
3 $9,000,000
$2,500,000
$6,500,000
4 $12,000,000
$3,000,000
$9,000,000
5 $15,000,000
$3,500,000
$11,500,000
Assets
-This category is comprised of cash, inventory, accounts receivable, and property, plant, and
equipment.
8
-The increase in assets resulted from higher revenue and reinvestment in the business.
Liabilities
-Start-up capital was obtained from loans and investors’ funds.
-There is an upward trend of liabilities with growth, but they are controlled to ensure sound
equity ratios.
Equity
-With time, equity keeps on increasing especially if there are ploughed back profits.
-Positive equity balance signifies that the organization is financially fit and has room for
growth.
Projected Cash Flow Statement
Year
Cash Inflows
Cash Outflows
Net Cash Flow
1
$2,500,000
$2,000,000
$500,000
2
$5,000,000
$3,500,000
$1,500,000
3
$7,500,000
$4,500,000
$3,000,000
4
$10,000,000
$6,000,000
$4,000,000
5
$12,500,000
$7,000,000
$5,500,000
Cash Inflows
9
-Mostly derived from trade proceeds.
-There could be other inflows, such as possible governmental grants or subsidies for
projects on renewable energy.
Cash Outflows
-The main ones are the cost of goods sold, operating costs, and capital expenses.
-Expenses controlled in order to achieve favorable net cash flow on an annual basis.
Break-Even Analysis
Break-even analysis shows the level of output at which the aggregate income is equal to all
expenses or costs. It is important to determine the lowest amount of units that should be sold to
cover the cost.
GreenTech Innovations breaks even when it produces 1,000 units every year. The estimated
sales quantities in this study indicate whether the company can make some profits at this stage of
operation.
Funding Requirements:
In order to start GreenTech Innovations, there should be an investment amounting to USD 5
million. These funds will be broken down as indicated hereunder:
-Research and Development: $1,500,000 allocated towards the development and
optimization of solar energy systems using ANN technology.
10
-Manufacturing and Equipment: $1,200,000 set aside for buying and installing production
plants.
Marketing and Sales: The company has also set aside $1,000,000, which will go towards
brand-building, brand-building activities, promotions, and the establishment of a sales team.
Working Capital: $800,000 is intended for the initial operating expenses so that the business
runs smoothly.
-Contingency Fund: An additional $500,000 has been kept aside for emergencies or
unforeseen events.
GreenTech Innovations will present financial forecasts to show that it has a strong business
plan and can generate substantial investor profits. Such projections have been developed from
reasonable presumptions coupled with thorough market analysis, all of which guarantee trust and
reliance among prospective financiers.
Conclusion
GreenTech Innovations can change how things operate in the solar energy sector with better
ANN-oriented appliances. The thorough business plan that we have put in place indicates that we
have a high chance of success in the market due to various factors such as investment and a very
promising future. We are expecting growth accompanied by reasonable profits because of
targeting clients who are concerned about the environment and using emerging technologies for
this purpose. As a matter of fact, we call on any interested investors who want to earn their share
of money as well as make contributions towards safe tomorrow’s environment through
11
GreenTech Innovations. Together, we all can satisfy worldwide energy requirements effectively
and ethically. By doing so, one would not just be taking up an opportunity for capital investment
but also undertaking leadership in matters of the environment as well as the advancement of
technology.
12
References
Elsheikh, A. H., Sharshir, S. W., Abd Elaziz, M., Kabeel, A. E., Guilan, W., & Haiou, Z. (2019).
Modeling of solar energy systems using artificial neural network: A comprehensive
review. Solar Energy, 180, 622-639.
European Commission. (2023). The European Green Deal. Retrieved from https://ec.europa.eu/
Grand View Research. (2023). Green Technology and Sustainability Market Size, Share &
Trends Analysis Report. Retrieved from https://www.grandviewresearch.com/
Yadav, A. K., & Chandel, S. S. (2014). Solar radiation prediction using Artificial Neural
Network techniques: A review. Renewable and sustainable energy reviews, 33, 772-781.
Student Name: Finley Oben
Date: 06/15/2024
1
House Cleaning Business Idea
Introduction
A house cleaning business entails employing out people to clean homes and offices for
clients in both villages and towns. Flattered by the world’s fast pace, there is an evergrowing need for professional and effective cleaning services. Numerous people and
families are working, hence being unable to address numerous challenges at home, this
makes them get outside help in terms of cleaning services. The need for quality cleaning
services will continue to increase because of this reason and this business will seek to
satisfy this need.
Key Aspects:
Target Demographics: The target market will consist of people from all ages, sexes,
occupations; both singles and married, employed and self-employed, business-oriented
people, young families with children, and busy parents with children, elderly people,
people with no time to wash and iron their clothes, and many others.
Service Quality: Focus shall be placed on the quality delivery of service, such as;
cleaning services such as carpet cleaning, upholstery cleaning among others shall be
done to the highest level of professionalism, spottless cleaning will be the order of the
day.
Technology Integration: Improving understanding and application of effective general
cleaning equipment and general cleaning methods, for instance high-quality suction
cleaning machines, steam cleaning machines, and green cleaning chemicals.
2
Customer Satisfaction: Long-term goal: Stably and persistently provide a high level of
cleaning services that meet customers’ individual requirements.
Kind of Company You are Going to Established
Description of the Company
The name of the proposed company is called Sparkle Home Cleaning Services this
means that our company will cover ourselves under the cleaning industry that offer all
types of cleaning solutions to residential homes.
Service Offerings:
Regular Cleaning: Cleaning chores that are involved in daily, weekly and monthly
household practices which include sweeping, mopping, dusting vacuuming, cleaning of
bathroom and kitchen.
Deep Cleaning: Cleaning services that go beyond wiping or washing the surfaces, this
may involve cleaning floors, wiping round the chairs and tables, cleaning the interiors
of fridges and washing the tiles.
Specialized Cleaning:
Carpet Cleaning: General carpet cleaning and problems associated with stain removal
for carpets and rugs.
Window Washing: Wash windows with dusts and stiff καθαρ(prevailing in all the
window corners).
Post-Renovation Cleaning: Removing plaster and other construction debris, floor
sanding or cleaning tile surfaces after construction.
Beneficiaries
The primary beneficiaries of Sparkle Home Cleaning Services include:The primary
beneficiaries of Sparkle Home Cleaning Services include:
3
Families: Especially so for families with young children who are sensitive to germ and
cleanliness and general health hazards from the surrounding environment.
Working Professionals: Busy persons who do not get the opportunity of conducting
various activities within the comfort of their homes due to work commitments.
Elderly Individuals: People with poor health, or patients in homes where the self is
nearing the end of his or her ability to handle cleaning chores.
Motivation and Skills
The passion and reason for developing the Sparkle Home Cleaning Services stems from
the understanding that professionalism in cleaning has become necessary owing to the
many and engaging activities that people engage in. Thus, recognizing this demand
opens up the section for a creation of the business that offers basic needs to the general
public as it enhances the kind, quality, and overall well-being of the people.
Personal Qualifications:
Business Management Background: Having done a course in business management, I
have the academic knowledge and practical experience of what is necessary for the
efficient running of the cleaning business such as , money management, selling the
services of the business, recruitment, among others.
Interest in Operational Efficiency: A strong predisposition to start and/or transform
specific operational processes to enhance the proper functioning of the business.
Customer Service Focus: C: High degree of organizational commitment to serving
customers, realizing that is the most essential foundation for a business’s operations.
Organizational Skills: Self-organization and punctuality in organizing schedules,
supplies, and people would be a great bonus.
4
Commitment to Quality: Pride in work at all department levels, cleanliness, and the
ability to perform each task of the job with the greatest regard to customers’ satisfaction.
Additional Considerations:
Location: We plan to open a business within a suburban region that will encompass
clients in urban and rural regions thus diversifying their market base.
Growth Potential: It begins with establishing a robust local presence to target
consumers, evolving potential growth strategies like franchising or establishing new
sections since the enterprise evolves.
Financial Planning: Bootstrapping by relying on individual owners’ and friends’ money,
funds gathered through sales of stocks to family and friends, and small business loans,
coupled with sound management and financial planning that would help in breaking
even and expanding.
Fostering these motivations and skills will enhance the growth of the company and
enable Sparkle Home Cleaning Services to stand well in the market to offer valuable
service to its clients.
Location
Suburban Setting
The business which is to be established is named Sparkle Home Cleaning Services and
it will be having its business setup in the suburban region. This location offers several
advantages:This location offers several advantages:
Central Accessibility: Placed in an area where it can access both the urban and the rural
markets and therefore, minimizing transportation costs while gaining a wider market
share.
5
Customer Base Diversity: This demographic is mostly populated by families, business
people, the middle-aged and elderly, therefore, a large market of potential clients.
Benefits:
Reduced Travel Time: Since the firm in question is centrally situated, time spent on
traveling from one client’s place of business to another is considerably reduced which
makes room for more appointments to be completed.
Cost-Effective Operations: Accessibility minimize the costs of fuel and transporting
materials from a central place.
Market Reach: Opportunity to target what is both large and growing urban traffic and
what is the largely untapped rural markets.
Growth Plan
Initial Phase
This will include the first plan for its growth, where the client base already it is very
important and works on the establishment of a good reputation.
Customer Base Development: Focus on building up the parameters of localized
advertising to ensure there is a constant stream of clients.
Reputation Building: Policies that help the firm create a positive atmosphere and offer
its services with excellence to attract positive comments and recommendations.
Expansion Phase
Once the business gains traction, consider rapid growth strategies:Once the business
gains traction, consider rapid growth strategies:
Franchising: Sometimes franchising has to be used to extend the business model into
new territories without heavy capital investments.
6
New Locations: Expand operations and open more branches in adjacent regions if
possible to increase the coverage area.
Benefits:
Scalability: Franchising has the advantage of ensuring faster growth at a lower risk as
compared to single company-owned units.
Market Penetration: More outlets create more awareness of the brands and nuclei in the
market.
Financial Feasibility
Initial Investment
Starting the company will require an initial investment for essential expenses:Starting
the company will require an initial investment for essential expenses:
Equipment Purchase: Tools, cleaners, mops, sweeps, steam cleaners, high quality
vacuum cleaners, biodegradable cleaning products, etc.
Staff Hiring: Availability of a workforce in the cleaning industry and assessment for
the most reliable cleaning staff.
Marketing: To establish the brand in the market, advertising creatives which are mostly
done at the start of another.
Funding Sources
Personal Savings: Savings: The next possible source of finances is to use one’s own
savings to fund the initial expenses of a business.
Small Business Loan: Finalize and obtain the small business loan so as to offset the rest
of the startup costs.
Benefits:
7
Adequate Capital: Makes certain that one has adequate capital to finance one’s initial
investment and to support its operations until the business is established and can
generate sufficient revenues.
Financial Planning: It highlights the need for a good budgeting technique and balancing
of payroll in as far as financial is an important consideration for a firm is concerned.
Industry Analysis
Industry Structure
The house cleaning industry described as moderately fragmented, meaning that there
are small independent cleaning companies along with large franchises.
Major Players: It is however important to note that key players in this sector are already
fully branded companies like Merry Maids, Molly Maid and The Maids already with
advanced service coverage.
Market Segmentation: Services as product are classified by the type of service (cyclic,
intensive, specific), and divided with respect to the customer populations.
Financial Data
Revenue Figures: Some of the top industry players distribute their turnovers annually
between $20 million and $50 million, thus proving its sustainability and prospectives.
Start-up Costs
Initial start-up costs are estimated at around $50,000, covering:Initial start-up costs are
estimated at around $50,000, covering:
Cleaning Equipment: Some of the Specific Essentials of Setup to meet the Cleaning
Goal include;
Transportation: Purchase of vans or cars for use in delivering the services.
8
Marketing Expenses: Specific details with regard to the first forms of advertising of the
business and its services to clients.
Market Growth
The market for house cleaning services is expanding, driven by:The market for house
cleaning services is expanding, driven by:
Dual-Income Households: More couples are now his and her both working.
Elderly Individuals: Increasing elderly population who need help in cleaning their
homes’ exteriors.
Busy Professionals: Large request specifically for working people who do not have
time to cook and clean in their homes.
In its industry snapshot, IBISWorld stated that over the five years to 2019, the
industry’s annualized growth rate is set at 3. 0%.
Risks and Opportunities
Key Risks
Competition: Increased rivalry with direct competitors and new competitors entering
the market triggers the increased rivalry.
Economic Conditions: Economic difficult experienced in any of the regions may impact
spending on cleaning services especially that which are non-core.
Regulatory Changes: Regulations in areas of labour as well as changes in regulations
concerning cleaning products/ 혼란:근로버지와 청소 제품에 관한 규정 변동
Opportunities
Untapped Rural Markets: High ability to tap the rural markets where access to
professional cleaning services is rather limited.
9
Eco-Friendly Services: He noted that the growing preference for green products meant
that manufacturers would shift towards developing clean products to meet this need.
Technological Advancements: Appreciation
for advancement with superior
technologies that enable delivery of efficient and quality services.
Competitive Analysis
Porter’s Five Forces Model
Threat of New Entrants: New entrants are the main source of the threat through the
following ways; Yet, reputation and customer loyalty are an indication that the risk is
well-managed in this case.
Bargaining Power of Suppliers: Average, but the activity can be body, especially when
implementing a purchase of large volumes and implementing a long-term cooperation.
Bargaining Power of Customers: High due to many service providers are available to
offer their services to global clients. When used, points such as the quality of the
product or service and performance that was delivered to the client can assist in
maintaining the clients.
Threat of Substitute Services: When cleaning a house on one’s own or hiring an
individual cleaner are two resolution modes that are in the substitution relation.
Professional services provide optimism and a surety of exceptional work – appealing
to most.
Industry Rivalry: Stiff market competition in the form of rivalry from both small and
big players. This means that he can only differentiate through offering the best services
possible.
Major Competitors
Merry Maids: The access to numerous comprehensive services as well as the substantial
brand awareness. Annual revenue: ~$40 million.
10
Molly Maid: Flexible plans depending on your needs and 100% satisfaction guarantee.
Annual revenue: ~$30 million.
The Maids: The process of cleaning and disinfecting the facility, equipment, or supplies
in the most effective and environmentally friendly way possible. Annual revenue: ~$25
million.
Competitive Strategy
Market Positioning
Sparkle Home Cleaning Services will position itself as a challenger in the market by
focusing on:Sparkle Home Cleaning Services will position itself as a challenger in the
market by focusing on:
Superior Customer Service: Emphasis on exceptional customer service and flexible
scheduling.
Eco-Friendly Products: Use of advanced cleaning technologies and eco-friendly
products.
Unique Selling Proposition (USP)
The guarantee will be in the form of an assurance that only cutting-edge cleaning
techniques and environment-friendly materials would be used to clean the house and
the firm will guarantee full satisfaction to the customer. This way, customers receive
high quality services and in turn they are fully assured on the services provided.
Product or Service Offerings
Market Analysis
The target market includes:
1. Families with Children: Hygiene, which entails daily, intensive cleaning to uphold
the conducive physical states.
11
2. Working Professionals: Cleansing services that are trust worthy and effective so that
people with tight schedules could enlist themselves.
3. Elderly Individuals: The sedentary lives of these patients and the fragility of their
health may present them with mobility complications which require outside assistance
with cleaning.
4. People with Busy Work Programs: To keep their homes well cleaned, they must hire
reliable cleaning services.
Promotion Strategy
Marketing Strategies
1. Digital Marketing: Make an effort to utilize the social network and have the website
together with web ads to target a large number of prospective customers.
2. Local Advertising: Flyers, newspapers circulation in a specific region and
participation in community events should be effective in creating awareness of the
brand.
3. Referral Programs: Encouraging existing clientele to bring in more clients should
also be encouraged as well.
Pricing Strategy
Competitive pricing with packages tailored to different customer needs:Competitive
pricing with packages tailored to different customer needs:
1. Basic Package: Laundry and Cleaning services ranging from daily cleaning services
to weekly and monthly cleaning services among others at reasonable prices.
2. Premium Package: Cleaning services specifically for thorough cleaning and other
unique services that might be required.
3. Custom Package: Special cleaning strategies according a customer’s individual wish.
Distribution Channels
12
It will be a service industry providing customers direct access into their homes. As for
the booking and the schedule, they will be available on the website so that the clients
do not have to worry about the conveniences of the process.
Go or No-Go Decision
Commercial Viability
Sparkle Home Cleaning Services is commercially viable due to:Sparkle Home Cleaning
Services is commercially viable due to:
1. Growing Market Demand: I think that people have become too busy to individually
clean their homes and offices thus they hire cleaning services.
2. Moderate Initial Investment: It is highly lucrative if one is able to perfect his/her
financial management strategies in an investment opportunity.
3. Differentiation: Sophisticated and enviro technologically was reported to define this
business.
4. Effective Marketing: Marketing formulations can be defined as measures employed
to acquire as well as maintain customers.
Conclusion
Explaining the decision, one should state that the idea of house cleaning business should
be pursued as it has potential for sustainable growth and is aligned with the current
market trends. If any problem surfaces, for instance, high competitio or unfavorable
odds such as a decline in business, then the business model can be improved to meet
the business needs by providing more services or penetrating new markets.
13
References
Sharma, S., & Kaushik, T. (2021). Aesthetically clean to clinically clean–A study on
new housekeeping practices in Delhi hotels beyond COVID-19
pandemic. Worldwide Hospitality and Tourism Themes, 13(5), 646-659.
Drazin, A. (2020). Chasing moths: cleanliness, intimacy and progress in Romania.
In Markets and Moralities (pp. 101-125). Routledge.
English, J. W. (2020). How to Organise & Operate a Small Business in Australia:
How to turn ideas into success-from Australia’s leading small business writer.
Routledge.
14
Bashir, H., Jørgensen, S., Pedersen, L. J. T., & Skard, S. (2020). Experimenting with
sustainable business models in fast moving consumer goods. Journal of Cleaner
Production, 270, 122302.
Orupabo, J., & Nadim, M. (2020). Men doing women’s dirty work: Desegregation,
immigrants and employer preferences in the cleaning industry in
Norway. Gender, Work & Organization, 27(3), 347-361.
Santoso, R. T. P. B., Junaedi, I. W. R., Priyanto, S. H., & Santoso, D. S. S. (2021).
Creating a startup at a University by using Shane’s theory and the entrepreneural
learning model: a narrative method. Journal of Innovation and
Entrepreneurship, 10(1), 21.
House Cleaning Business Idea
NAME : FINLEY OBEN
DATE : 06/04/2024
1
House Cleaning Business Idea
A house cleaning business idea is a business idea that involves offering reliable and
professional cleaning services to people in either rural or urban areas. It includes services
such as deep cleaning aiming at providing efficient and high-quality service.
I have selected this business idea as a result of a growing busy trend in rural and urban
lifestyles.
Question 1
A House cleaning business idea is not a new business idea as there are many house
cleaning businesses operating and offering almost similar services. House cleaning business
focuses on quality and excellent customer satisfaction. By creating a new and unique way to
offer quality and efficient service to customers, it is possible to attract more customers to the
business (Bashir et al).
To deliver excellent cleaning services and for business growth, you should encourage the
use of machines to enhance quality, save time, and reduce costs to maximize profit.
Question 2
House cleaning business appeals to a wide group of customers who value their hygiene
at home as it emphasizes quality and excellent services to customers through the use of
machines and advancement in technology.
2
Question 3
The target market for cleaning business idea includes families with children, working
professionals, aged individuals, and people with busy work programs
Question 4
Pest Analysis
PEST Analysis is a simple tool that is commonly used and helps in analyzing the
political, economic, socio-cultural, and technological changes in a business.
Pest analysis is useful in a house cleaning business as it helps in identifying the
weaknesses and strengths of the business, reveals changes in a business and it also gives an
objective view of new and different markets.
Pest Analysis of House Cleaning Business Idea
Political Factors
Economic Factors
Social Factors
Technological
Factors
These factors
Economic
Social factors
Technology is
surround the
factors play a role in
include population
a crucial requirement
governmental and
molding the visible
and cultural beliefs,
for house cleaning
regulatory influences
features of a house
change in population
operations.
that may affect
cleaning business.
such as a population
Technology
3
business operations
changes in GDP
that includes more
advancement
positively or
growth rates,
children drives more
improves various
negatively. In-house
consumer spending,
demand for house
aspects such as
cleaning business
inflation, and
cleaning services or a
enhancing efficiency,
government may
unemployment levels
population involving
effectiveness, and
affect its operations
greatly influence the
physical limitations
sustainability.
through license
demand for house
individuals will as
Technology
requirements,
cleaning services.
well drive a high
advancement also is a
taxation policies, and
When the economy is
demand for house
key factor in
labor laws. Political
low individuals spend cleaning services.
marketing by use of
factors also focus on
less on house
Cultural beliefs also
social media
the regulations
cleaning services
influence the demand
platforms. By use of
related to
compared to when
for house cleaning
better and improved
environmental
the economy is high
services for instance,
technology enhances
protection regarding
Additionally, factors
people in urban areas
customer satisfaction
may have a high
and excellent service
cleaning products and such as wage rates
waste disposal
and disposable
demand for house
delivery (Debrah et
methods used (Bashir
income impact house
cleaning services.
al).
et al).
cleaning services.
4
Question 5
To operate and run a successful house cleaning business it would require competencies in
customer service, employing and offering quality training to the staff, quality control,
scheduling, and properly managing the business.
Question 6
The House cleaning business idea has a financial viability depending on factors such as
pricing strategy employed, demand, operational efficiency, and cost control management.
In conclusion, house cleaning business idea is a modern trend that focuses on operational
efficiency and customer satisfaction.
References
Bashir, H., Jørgensen, S., Pedersen, L. J. T., & Skard, S. (2020). Experimenting with sustainable
business models in fast-moving consumer goods. Journal of Cleaner Production, 270,
122302.
https://www.sciencedirect.com/science/article/pii/S0959652620323490
5
Debrah, J. K., Vidal, D. G., & Dinis, M. A. P. (2021). Innovative use of plastic for a clean and
sustainable environmental management: Learning cases from Ghana, Africa. Urban
Science, 5(1), 12.
https://www.mdpi.com/2413-8851/5/1/12
6