• For this business plan, we ask you to come up with a business idea for a sole proprietor without employees. You have a startup budget of 1,000 USD. You can choose any field of activity for your business plan. • The template for the business plan is available in the “Instructions” tab of your LMS profile. • Initial investments are limited by 1,000 USD. You should come up with a business plan that can be implemented even with a tight budget. In a modern fast-changing world no one knows what the future holds, so you should be prepared in case your life may take a sharp turn. Also, if you’re unemployed at the moment you might not have an unlimited budget to open a startup, so you need to come up with ideas on how to improve your financial situation. (Remark: we prefer if you will not use any loans for your business plan and will work only with the budget of 1,000 USD.) • You can ignore the costs of opening a legal entity and consider that you already have a sole proprietorship with a bank account, etc. • You need to focus on your target customer, describe a portrait of him and why will he buy your product or service. • You need to come up with a marketing plan and marketing budget. Where will you reach your target audience, how will you promote your product and how much will it cost to attract your customer. • You need to do the financial plan and find the payback period (you should do 3 scenarios of your market entrance: positive, moderately successful, and negative). You need to calculate the payback period for your idea to decide whether it is worth investing in or not. The idea should be profitable for all the scenarios, or at least return investments in a negative case. • You need to provide a clear information how you will distribute your initial investment of 1,000 USD. • We don’t set any minimum volume for your work as long as you present your idea clearly but please do not exceed 20 A4 pages. You should describe your idea briefly and get straight to the point as if you are presenting your business plan to a potential investor, who might know nothing about your field of activity. So you have to keep it short and explain your idea, target audience, marketing plan, financial plan, calculate the initial costs, regular expenses, payback period, and your final profit. Any development costs should be implemented only after returning the investments, so you will be able to evolve your business further. • The business plan should be unique and written by yourself specially for this assignment. We will not accept plagiarized works, and submitting one may lead to a plagiarism fine.
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