The names of the co-owners lack contact details. The details could be added so that any of them could be contacted. Additionally, the percentage shareholding and cash that each co-owner has contributed should be indicated for transparency purposes.
Description of business
The status of the business should be stated (whether it is starting up, taking over or expanding). The investors are left to assume the type of business it is. The business form also needs to be addressed. It should be clarified whether it is a corporation, partnership, or a limited liability company. The chances of the business succeeding should also be analysed at this point. The experience the owners of the business have should be presented in order to offer just judgement concerning their hope for succeeding in running this business. The reasons why the owners believe the business will be a success should be clearly outlined here since any liable investor will not desire to give into investing in a hopeless business (Donald, 2004).
This needs to be agreed upon among the co-owners it is not supposed to be a personal decision of one of the owners. Therefore to indicate their consent a provision for their signatures should be offered.
Industry outlook, forecasts and trends
The projection of trends also needs to note the status of the other important factors that impact the business environment. This includes providing knowledge of the technological, legal and political trends nationally and internationally. These are key factors that govern the environment; therefore, they should not be omitted. The industry’s projection also needs to provide information of the new firms in the previous three years. The information on the performance of these firms will help the company in doing its personal projection. This will avoid making projections that are either too high or too low, hence, deal with no realism (Donald, 2004).
Description of venture
The description of the venture is lacking. This is because the business plan leaves quite crucial information. It is important to comprehend the features of the products and services that this company is planning to provide as well as know the future developments of the same. The long-term and short term goals of the company in regards to the products and services should be clearly outlined. It should be clear that the company has objectives in regard to its products and service since a company that seems settled in an unfocused niche and is unprepared to scale new horizons is bound to be stack in the same place. Another flaw in the description is the lack of information concerning the size of the business. Though the business is of low cost given that most of its operations are online, and maybe its meetings with the customers are probably held in a medium sized premises, this needs to be clearly outlined here. All office equipment needs to be listed in order to understand just how much equipment is sufficient. For instance, it is important to understand how many computers are required, and the amount to be invested in acquiring the materials. Information on any other raw materials towards conducting the business should not be left out (Donald, 2004).
The third segmentation states that customers travel for various reasons, yet bias is given to people travelling for pleasure and business. The business plan should explain how the company will handle the rest of the clientele who are not travelling for leisure or business. Planning only for visitors who travel for business and leisure might be very limiting. Other visitors might be travelling for education and research purposes, and consideration for such should also be made. Again, it should be clearly indicated in each segment whether the segment is growing or declining. This is in...