Consider the following scenario: You recently inherited $50,000 and you would like to use this money to help start a small business. However, you will need additional funding.
Create a business plan to convince the bank or other investors that you have a viable business plan.
Business name is ‘Fridgeven”
It is a Fridge that has a built in oven/ blender and Coffee Machine. Can be connected to your phone using an application. and Is smart cooks until done and blends until complete. perfect for senior citizens, and those into high technology.
- Give an overview of your business.
- List and describe your management team, describe the legal structure, and decide on a location.
- Develop a marketing plan and determine your pricing strategies
- Do a SWOT analysis
- Determine your suppliers
- Prepare an estimate of your start-up costs.
- Forecast of your expected sales/revenues as well as your expenses.
- Prepare the financial statements.
- Complete the executive summary