Introduction to this assignment
You cannot correctly do this assignment without reading the materials in the Business Plan Workbook part 2. Here you will find the required information, data and instructions needed to proceed with this assignment. Review this material carefully as you must incorporate the data presented in the workbook’s chart into the assignment parts where it is called for.
FOR THE BALANCE SHEET AND THE FIXED EXPENSES WITHIN YOUR OPENING MONTH EXPENSE REPORT, DO NOT MAKE UP YOUR OWN DATA. YOU ARE TO ONLY INCORPORATE THE DATA FROM CHART (table) THAT IS CONTAINED IN THE UPDATED SECOND HALF WORKBOOK.
Session 11 builds upon the information presented in sessions 9 & 10. For this week you will be given the opportunity to integrate your learning from these sessions and INDIVIDUALLY develop your own financial spreadsheets for your business plan and write a 12 month business projection for your business plan.
The assignment has 4 parts. It is an individual assignment so each of you will be submitting your own work. To complete the assignment you will be creating or doing the following:
1) writing a opening day balance sheet for your business using only the information in the chart from the workbook
2) writing an opening (1 st) month’s expense report using information some of which is from the chart and some other information that you create ( PS. as mentioned in the workbook, an expense report is half of a revenue & expense spreadsheet )
3) Since your new business is a startup you will be doing a break even analysis to determine how many customers you need a month to break even. This includes doing a worksheet and completing a break even analysis spreadsheet.
4) You will do a 12 month business projection which is a short paper wherein you fully develop three business strategies to obtain customers.
As a reminder, there is a complete business plan example under the course documents tab you you to see what your final plan should look like.
You will probably want to review your session 9 and10 lecture notes.
Individually, to complete this assignment you need to submit the following 5 documents:
1) Your opening day balance spreadsheet -Email
2) Your opening month expense spreadsheet -Email
3) Your break even analysis worksheet -Email
4) Your break even analysis spreadsheet -Email