The Entrepreneurship Project will afford you the opportunity to: 1. Prepare a written proposal for a new business
2. Learn what steps an entrepreneur must undertake to open a new business
The Entrepreneurship Project will involve the following:
1. Developing a proposal to start a new business
2. Performing a self-analysis (including the willingness to take risks) 3. Providing a detailed analysis of the business situation
4. Provide a description of the way the business will operate 5. Provide detailed plans for financing the business
Competencies you will develop:
1. The ability to use oral and written communication skills
2. A general knowledge of the total business or industry, which is being entered 3. An understanding of the basic steps involved in starting a small business 4. The ability to interpret financial statements
5. The ability to self-evaluate personal skills, knowledge, abilities, and the willingness to take risks 6. An understanding of the components of gross and net profit 7. An understanding of the customer needs
8. An understanding of how business operates within the realms of economic principles
You will complete a four-part business prospectus that describes a business you want to begin. This business must be located in the San Leandro, San Lorenzo, and Hayward shopping area. The business will not be illegal and must meet the requirements for owning and operating a business in Alameda County or the respective city chosen. In addition, I must approve of the business operation prior to your beginning the project.
The prospectus will be completed in segments with a series of mini-assignments given to help you organize your thoughts and coordinate your research efforts. You will be required to periodically conduct research outside of class as you complete various portions of these assignments. In addition, upon completion of the mini-assignments in each segment, you will need to summarize the information acquired into a paper not longer than three pages (total prospectus is to not exceed eleven pages, double spaced, one inch margins). You are encouraged to have your employer / family members assist you in acquiring information, reviewing and critiquing your plans.
Completion of the written portion will take place over the next several weeks and will factor heavily into your course grade. The best assignments may be submitted into DECA competition.
In addition to a title page, a bibliography, an appendix (if applicable) and the report being types, it will be broken into the following segments:
Part I: Executive Summary
One page description of the project
Part II: A Description and Analysis of the Business Situation
A. Rationale and marketing research: the reason for and the need for starting your business along with information that you have researched about the need and statistics B. Introduction: the type of business proposed and a brief description of the major products or services involved. C. Self analysis: personal business experience and training-education in the proposed field, personal business strengths and weaknesses, demonstrated willingness to take risks and a brief plan for personal development in the proposed field. D. Analysis of the business opportunity, customer and location: geographic, demographic, and economic analysis of trading area, customer and locale of proposed business. Comparative data: present competitors (listed and briefly described), competitive advantages and disadvantages of proposed business. Customer Analysis: target market, estimated potential market. Analysis of the Proposed Location: traffic patterns, competitive advantage, availability and costs.
E. Proposed Form of Organization: type of ownership steps in starting to form...