BMGT255 Business Planning Project (Individual) F22

My Micro-business is a BIKE REPAIR SERVICE

For this project, you will be writing some of the Business Plan components for a new Micro-business that you have selected. In order to minimize the scope of the project you will use the following assumptions:

You will be the only owner and only employee of the business.

Your start-up capital would be a maximum of $30,000. (No specific costs or expenses have to be accounted for in this project.)

Assume you have any education, certificates, or credentials that would be needed for a business such as this.

All data must have proper accessible references using numbered endnotes (not a bibliography.) The assignment must be written in complete sentences (question numbering optional) in the order outlined below.

1. Describe the specific products and/or services you will offer and their nature. (1-3 sentences)

2. Locate and describe the customer groups you will be targeting. (1-3 sentences)

3. Clearly define your market potential. (1 sentence)

4. Explain where your business will be located and how you will provide (distribute) your product/service. (1-3 sentences)

5. Prepare a sales forecast for your first year of operations using 2 different methods/sources. (4-12 sentences)

6. Name, locate, and briefly describe any direct competitors that you will have to deal with. (2-6 sentences)

7. Briefly describe any indirect competitors that you will have to deal with. (2-6 sentences)

8. List 3 words that describe the brand image your company will project. Explain why this is appropriate for what youre selling for your customer target. (4-8 sentences)

9. Name and explain the pricing strategy that you will be using. Explain why this is appropriate for how it fits in with the rest of your ma marketing mix. (2-5 sentences)

10. Specify and describe any traditional means you will use to promote the business explaining the reasons for your choices (4-8 sentences)

11. Specify and describe any digital tools you will use for promoting or distributing your products and services. (3-7 sentences)

12. Identify the legal form of the business. Explain your reasons for this legal set-up. (1-3 sentences)