Background: critically evaluating business plans helps one to appreciate how to effectively construct a business plan of one's own. The purpose of this assignment is to give you practice reviewing a business plan. It also aims to provide you with the chance to outline the business plan you will create for your final project.

Instructions:

1. Evaluate a Business Plan
2. Please download the "Michael's Business Centre" business plan accessible through this link: http://www.rbcroyalbank.com/business/startingabusiness/planning-your-business.html
3. Critically evaluate this business plan; specifically, examine:
   1. The structure - how does it compare to what you think the structure should be, based on this course and your own insights, research, and judgment; what is strong about the current structure? What do you think can be improved?
   2. The content - how does the content compare to what you feel may be appropriate? What is strong? What could be enhanced? Is the content supported by sufficient research, documentation, and references?

1. Outline your Business Plan

Please develop an outline for your business plan.

The situation: You have decided to explore the idea of opening your own pet food and supplies retail store. You have 10 years of retail management experience, a college diploma in business, and a strong love for animals. You currently live in the Toronto area - but are willing to move.You are leaning towards serving the higher end of the market - but are not sure. You want to provide a good range of products, maybe focused more heavily on higher-quality goods that cater to other pet lovers like you. At the same time, however, you know the value of a dollar and that everything seems very expensive. So you are a bit unclear on the specific direction you should take. You know that a great deal of research and analysis is needed to better understand the opportunity, formalize your mission/goals and shape your business. Your research will also help inform how your business may grow. You also know that you may need to make very important assumptions at the end of the day - some of these at a very high level. Indeed, you know from your time as a student that the perfect set of relevant research may be unavailable or incomplete.

This outline should include the following:

1. The structure of your plan - what are the key sections?
2. An outline of the kinds of information you will provide in each section of your business plan. Provide statements on the work you need to do to complete each section. What kinds of information and analyses are required? What resources will you need to consult to complete each section?
3. Project Plan - how will you execute the work you need to do to complete each section? For each section, when will work begin and when will work end? What is the sequence of work? Where will you go to get the information and resources you need?