Assignment 4: Final Business Plan

Now it's time to pull everything together and c reate a final business plan. Make sure to review all the feedback you received for Assignments 1, 2, and 3, and make the necessary corrections. Then copy and paste it all into one document, and add an executive summary and an exit strategy. The executive summary is a snapshot of your business plan as a whole and should touch on your company profile and goals. Additionally, the most successful exits in business require considerable planning. You will need to discuss two key factors to consider when planning your exit strategy.

five (5) page paper in which you:

1. One page executive summary that includes your company profile and goals.
2. Revise and insert the business models section you developed for Assignment 1.
3. Revise and insert the target market section you developed for Assignment 2.
4. Revise and insert the startup funds section you developed for Assignment 3.
5. One page exit strategy where you discuss two key factors you would consider when planning an exit strategy. Provide explanation to support your reasoning.

Running head: TARGET MARKET SEGMENT 1 TARGET MARKET SEGMENT 2 The primary target market for the spa business will be the residents and employees living in Conyers. The target market includes the demographic between 18-50; These are Business men and women, home makers, service industry professionals such as servers, bartenders, beautician as well as college students in both Conyers and the nearby cities. One of the reasons why I selected this primary target market is because of the huge business need in that area for a particular targeted group. These are individuals who have a reliable source of income and can indulge in self-pampering and relaxation on a regular basis. The primary goal for this target group is to make them the core long term repeat clientele. The other reason for this selection is because they represent the largest population in the Conyers area. For example; Business women make up the majority of people in the target market given the significant number of them working in the area. Also, the target market is well endowed economically, which makes it possible to charge premium prices for extra services at the spa enabling us to grow our earnings. The secondary target market segment for the spa include persons in various stages of injury recovery for therapy and massage services, athletes, and alternative care users such as those that have mistrust on allopathic medic as well as aging populations who may require Frequent visits to the Spa. One of the reasons for selecting this secondary target market is the growth in the number of individuals seeking alternative care as a preventive measure for health conditions. They also form an important part of our client base. Secondly, this target market needs specialized care. For example, the aging requires attention without a pool of old age care therapists. Therefore, we have targeted this market to enhance the lives of such individuals. Finally, the big goal for our future is to become a one stop Spa center that provides all services for everyone. Unlike our competitors who focus mainly on the young target market. By targeting TARGET MARKET SEGMENT 3 this secondary market, we are aiming to achieve this vision of being a universal spa care facility and grow our market share. Running head: STARTUP FUNDS 1 STARTUP FUNDS 2 Startup funds are those initial funds an entrepreneur comes up with in other to turn an idea into a business. Depending on the source of the funds an entrepreneur may have to give up a percentage of the business in exchange for funds. Some of the sources for start-up funds are; bank loans, trade equity, angel investors, small-business grant, a loan from friends or family, etc. A working capital on the other hand simply means your current assets minus your current liabilities. A company's current assets must exceed its current liabilities. In a case where this is not true in business, it signifies financial trouble. Usually, the business is unable to pay its creditors, and this can resign to bankruptcy. Working capital also gives an idea of how efficient the business is operating to investors. The methods in which I may consider obtaining necessary funds for my business will be; A Bank loan or a credit line; the reason why I'll choose this method to raise money for my business is that my credit score is significantly high; therefore, I am most likely guarantee approval for a loan. Even though in some cases it can be a bit of a process to get approved for a bank loan. Some financial institutions require collateral to back up their bet. The banks want to be sure that they can recuperate their money in case the business is not a success. Therefore, without collateral, the likelihood of approval is not guaranteed. I do like the fact that the bank usually does not require to own a percentage of the business before issuing a loan, rather, it requires an interest rate paid. Some credit cards come with a promotional period of 0 APR. If the loan is paid back within the promotional period, there will be no interest charged