This has the potential to be a multi-phased project. This is assignment is the
This has the potential to be a multi-phased project. This is assignment is the first phase the final will be the actual business plan.
The paper needs to be specific to the geographic location of the event center – Santa Rosa, California.
I would like the focus of this plan to be on a 10,000 sq.ft indoor event center that opens into a 12,000sq.ft outdoor plaza/garden in Sonoma County, California – the heart of the wine country. In total over 20,000 sq ft. indoor/outdoor event center and commercial kitchen. The indoor space can be utilized as one large space or divided into three separate spaces. State of the art audio and visual equipment is available to meet both in-person and virtual attendee needs. This space would be to complete with the traditional hotel event center spaces. The cause-related marketing benefit to this space is that it will be owned and operated by a nonprofit, providing jobs and revenue to the nonprofit.
Assignment #1: Business Model Overview
The overall goal of the Capstone class is to complete a formal strategic business plan for a scalable venture of your own ideation. All ventures proposed can be entrepreneurial, non-profit, government or corporate initiatives. Common elements should involve a scalable, innovative business model, initial funding >$250,000, multiple revenue streams, robust employee headcount and multi-million dollar gross revenue stream within 3-5 years. In other words, think big! If you have questions about whether your model is a good fit, please forward to me right away so we can discuss.
In addition to your business plan, you will be building 5-year financial forecasts as well as a formal funding presentation in our Capstone class.
Deliverable #1: The first step of writing a business plan is the articulation of your basic business model. For your proposed venture, create a two-page Business Model Overview based on the five topics below. The goal is to illustrate important strategic qualities of your proposed business model across key business model parameters. Submit both a Word and PDF file for your assignment. Content density is a minimum of 525-words average per page.
Example Business Model Overviews from previous cohorts are attached. I would review these carefully as they represent the standard for this assignment.
Business Model Overview – Key Topics
You’ll want to focus on the following topics for your business model overview. For each topic, I’ve provided some potential ways to think about how to approach your content.
1. Problem – what are consumers needing/wanting that is not available? What is the gap in the market that you will fill? What current problems are consumers facing with status quo products/services? What is the market opportunity?
2. Solution – what is the unique technology/product/service that you will be introducing to the market? How does it work? What is the unique value proposition to consumers? How is it unique, new, different, better, cheaper, faster or more convenient than current market entries?
3. Trends – what are the past, current and future market trends/statistics in support of your business model? What are the global, national, societal, market, regional stats/facts/figures/trends in support of your proposed business? What is the percent growth, dollar value, number of consumers in your target sectors?
4. Competition – who are the top competitors in the industry right now? Name names. What is the competition’s strength? How are they weak? What are your unique competitive advantages? How will your company gain competitive advantage and sustain it?
5. Revenue Drivers – how does your company make money? What are the proposed launch, mid- and long-term revenue drivers? How will your product/service/technology be priced? What is the general proposed profit margin of your product and industry? What will be the primary components of cost-of-goods?
A requirement is to use at least three (3) cited outside sources for this assignment. These can be quotes from industry experts, facts, figures or any credible, third-party source that will support the case you are making for your business. All content taken from outside sources must be identified in “quotation marks” and the source clearly identified and given proper credit. A hyperlink to the source material/author is acceptable.