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I attached Feasibility plan guideline with some questions that need to answers. All I need you to do part 9 and 10 (Growth Plan and Contingency Plan)
I also, attached the busniess market and mission. So you have idea about what is our busniess. One or two pages to answer the quiestions with some resources.
9.
Growth Plan. Describe how your business will change over time (e.g., increased demand, new products, new markets).
A. What new products, services, locations, and/or markets will you pursue in the future?
B. What additional personnel and funds will be required for this expansion?
C. How will you pay for this growth?
D. What are the markets of the future?
10.
Contingency Plan. Describe potential problems and risks and explain how you will deal with them.
A. What will you do if your sales projections are too low or manufacturing costs too high?
B. What if competition reduces your market share?
C. What are the liability issues that could affect the business?
D. What if your start-up plans are delayed?
Feasibility Plan Guidelines
The idea feasibility summarizes and presents the idea for initial evaluation in a short and compelling form. It is a sales pitch! The effort involved in preparing the concept requires the team to carefully and realistically assess the opportunity. This action is the first step in developing a business plan. The feasibility plan will present the key information needed to evaluate the opportunity, without going into the depth that a full business plan requires. The completed idea feasibility should be
no more than ten pages
, including any supplemental documents you may wish to include.
Document Cover. Include the name, address, and phone number and email address of the business along with a picture or graphic (use logo if available). Also, bind it for a more professional look.
Executive Summary. This summary is usually written last and should be a clear and concise condensation of your plan. Write a brief one or two-page summary of the key points in the feasibility plan. It must be a standalone document that presents your business in the best possible light because many reviewers will not read the rest of your plan if this section does not “pique their interest.” You might include in the summary:
A. What type of business are you planning to start?
B. What is your product or service and how will it be marketed?
C. What is the purpose of your plan?
1. Will it be an operating guide?
2. A financing proposal?
D. What business structure have you chosen (e.g., sole proprietorship, partnership, corporation, LLC)?
E. Who are the principals and what talents do they bring?
F. How much money do you need to implement your plan, and how will this money be used?
G. Why will your venture be successful?
Table of Contents. This is a single page index showing the major topics and key subheadings with page numbers. Many readers like to skip around when they read a document and only read what interests them. The table of contents outlines your plan and directs them to the right section.
Description of the Business. Here is where you present the overall picture of what you are doing, i.e., “the big picture.” It should contain a complete description of your product or service, target market(s), customers, unique features, benefits, spinoffs, and environmental impact. This section should address:
A. What business are you in?
1. Is it manufacturing, service, or merchandising?
2. What is the nature of your product or service?
3. What are the important attributes of your product/service and what benefits will it give your customers?
4. What will be special about your business?
B. What are your goals and objectives for your business? (mission statement, etc)
C. What is the legal name of your business and why was it chosen?
D. Where will your business be located?
E. What market do you intend to service?
F. How large is the total market and what is your expected share?
G. Who is your competition?
H. How can you serve the market better than your competition?
I. What is the present status of the business (e.g., start-up, expansion, take-over)?
J. What are the spin-off possibilities?
K. Will your business adversely affect the environment and what will you do about it?
Management and Organization. As part of this section, include information about the key management positions and the people who will fill them as well as the personnel structure of the business. For example:
A. Who is on your management team?
B. What education, experience, and talents do they bring to the venture?
C. Describe your organizational structure and include a brief description of who does what. (Include an organizational chart if it will help.)
D. What are your anticipated personnel needs and what skills must these employees have?
E. List proposed salaries and wages.
F. What other management resources will be available to your business (accountant, lawyer, board of directors or advisors)?
Marketing Plan. This section is an action plan and should address how you expect to get customers to buy your product or service. Include a description of your industry, target market(s), competition, and distribution and marketing plans. Be sure to consider:
A. What is the present size, location, and growth potential of your market?
B. What are your sales goals and what marketing strategies will you use to achieve your goals?
C. Are there any trends affecting this growth?
D. What percent of the market will you have now and in the future?
E. Are there seasonal fluctuations?
F. What is the typical profit potential and gross margin for your type of business?
G. Describe the age, sex, occupation, lifestyle, income, etc. of your various market segments.
H. What distribution channels will you use?
I. How will you attract and keep your segment of this market? (Comment on Product quality; Price; Place; Promotion)
J. Who is your competition and how are their operations similar and dissimilar to yours?
K. What is your unique selling proposition?
7. Marketing research
The marketing research section provides the context and focus for the consumer analysis. Secondary research is expected for this section, drawing on information from company reports, online sources, (Not Wikipedia) news articles, etc. The section should include:
Marketing Strategy Problem:
Describe the current situation, and identify the specific marketing strategy problem. Use course concepts in your explanation. For example, from the organization’s perspective and the consumer’s perspective, explain whether this problem is one of affect and cognition, behavior, environment, or a combination.
Research:
The student is expected to use research methodology to better determine who they think
their target market will be for the customer. Create a consumer Analysis for additional detail.
Consumer Analysis
Use a form of primary research to gain information on and understanding of the consumer. This may involve observation research, a focus group, and interviews; survey monkey is a good tool to use for this part of the paper. Describe your research objectives, method and findings in in detail using marketing terms and concepts. What did you want to know? How did you study it? What did you learn?
Customer segmentation section describes the customer segment that is most relevant to the marketing problem you identified. Explain the segment’s current or potential value. You will need to define and analyze the current target markets, and specifically who is the current targeted customer. Having the basis of who the customer is, now create a profile of who the customer should be, and how do you define, target, and segment that customer. I fully expect that the paper will approach this from a different position than is currently being used.
Recommendations:
Conclude the report with recommendations, based on the secondary and primary research you conducted. The recommendations should address the marketing problem you identified, and may involve aspects of segmentation, positioning, and marketing mix decisions. Be specific. Suggest how your recommendations could be implemented. Also, identify what additional research you recommend.
This is intended to be an collaborative group project, that provides the students the opportunity to
demonstrate their understanding of consumer behavior, and the relevancy to the marketing
environment that we are exposed to every day.
8. Financial Plan. This puts all of the other sections/plans into dollar values (see below). Include the following information:
A. A brief analysis of the financial information (eg. How did you calculate sales & expenses)
B. Startup Capital Estimate;
C. Proposed Sources of Capital (Where will you get the money you need to start the company);
D. 1 year cash flow projections and assumptions
Growth Plan. Describe how your business will change over time (e.g., increased demand, new products, new markets).
A. What new products, services, locations, and/or markets will you pursue in the future?
B. What additional personnel and funds will be required for this expansion?
C. How will you pay for this growth?
D. What are the markets of the future?
Contingency Plan. Describe potential problems and risks and explain how you will deal with them.
A. What will you do if your sales projections are too low or manufacturing costs too high?
B. What if competition reduces your market share?
C. What are the liability issues that could affect the business?
D. What if your start-up plans are delayed?
Appendix. Put supporting materials. Examples include:
A. Resumes / Personal Financial Statements of all principals;
B. Letters of intent/support;
C. Technical designs/patents;
Start-Up Capital Estimate
[Company Name]
[Date]
Monthly Costs
Monthly Expenses
Cash Needed to Start
% of Total
Source of Estimate
Salary of owner-manager
All other salaries and wages
Rent
Advertising
Delivery expense
Supplies
Telephone
Other utilities
Insurance
Taxes, including social security
Interest
Maintenance
Legal and other professional fees
Miscellaneous
Subtotal
One-Time Costs
Cash Needed to Start
% of Total
Source of Estimate
Fixtures and equipment
Decorating and remodeling
Installation charges
Starting inventory
Deposits with public utilities
Legal and other professional fees
Licenses and permits
Advertising and promotion for opening
Cash
Other
Subtotal
Total Estimated Start-Up Capital
MONTHLY CASH FLOW for:[Enter Business Name Here][Owner’s Name]TOTAL
YEAR: PreStartupJAN-1FEB-2MAR-3APR-4MAY-5JUN-6JUL-7AUG-8SEP-9OCT-10NOV-11DEC-121-12
1. CASH ON HAND (First of Month)
********
2. CASH RECEIPTS
(a) Cash Sales
(b) Collections/Credit Accounts********
(c) ********
(d) Loan/Cash Injection % OF
3. TOTAL CASH RECEIPTS
TOTAL
(2a+2b+2c+2d)
CASH
4. TOTAL CASH AVAILABLE
RECEIPTS
(Before cash out) (1 + 3) (2a+2b+2c)
5. CASH PAID OUT
(a) Purchases for Resale
(b) Net Wages
(c) Payroll Taxes
(d) Accounting/Legal
(e) Advertising
(f) Car/Truck Expenses
(g) Insurance
(h) Interest
(i) Office Supplies
(j) Rent
(k) Repairs/Maintenance
(l) Supplies
(m) Taxes (Real Estate)
(n) Telephone
(o) Travel/Meals/Entertainment
(p) Utilities
(q)
(r)
(s)
(t)
(u)
(v) Subtotal
(w) Loan Principal Payment
(x) Capital Purchases
(y) Owner’s Withdrawal
(z)
6. TOTAL CASH PAID OUT
(Total 5a through 5z)
7. CASH POSITION (End of Month) *********
********
********
********
CASHFLOW
MONTHLY CASH FLOW for: [Enter Business Name Here] [Owner’s Name] TOTAL
YEAR: PreStartup JAN-1 FEB-2 MAR-3 APR-4 MAY-5 JUN-6 JUL-7 AUG-8 SEP-9 OCT-10 NOV-11 DEC-12 1-12
1. CASH ON HAND (First of Month) ********
2. CASH RECEIPTS ********
(a) Cash Sales
(b) Collections/Credit Accounts ********
(c) ********
(d) Loan/Cash Injection % OF
3. TOTAL CASH RECEIPTS ******** TOTAL
(2a+2b+2c+2d) CASH
4. TOTAL CASH AVAILABLE ******** RECEIPTS
(Before cash out) (1 + 3) (2a+2b+2c)
5. CASH PAID OUT
(a) Purchases for Resale
(b) Net Wages
(c) Payroll Taxes
(d) Accounting/Legal
(e) Advertising
(f) Car/Truck Expenses
(g) Insurance
(h) Interest
(i) Office Supplies
(j) Rent
(k) Repairs/Maintenance
(l) Supplies
(m) Taxes (Real Estate)
(n) Telephone
(o) Travel/Meals/Entertainment
(p) Utilities
(q)
(r)
(s)
(t)
(u)
(v) Subtotal
(w) Loan Principal Payment
(x) Capital Purchases
(y) Owner’s Withdrawal
(z)
6. TOTAL CASH PAID OUT
(Total 5a through 5z)
7. CASH POSITION (End of Month) *********
Marketing Plan
Industry Description
The US taxi and limousine services industry includes about 7,000 establishments (this includes single locations and multi-location companies) with about $6 billion in combined annual revenue. Taxis are located all around the United States and generally operate in large metropolitan area. Growth in this industry is medium depending on economic health that effects travel and leisure spending as well as volatile fuel costs. Expenditures for taxi service are forecast to grow at an annual compound rate of 5% between 2013 and 2017. Although this may growth seem slow, major opportunities lie in taxi companies that have involved and dedicated marketing. There are few economies of scale in this industry, so small companies are able to effectively compete with large ones (1). This will provide an opportunity for Total Package Taxi, in that we will be able to compete in the market without fear of impeding on a already saturated market. We will also heavily focus on marketing and launch a large campaign against drunk driving to generate buzz around Kansas City.
