Business plan type
Type of business: Clothing / Retail
Our business will be organized as a partnership among 4 partners. 2 partners will handle all administrative and managerial duties while the other 2 partners will handle all sales and training aspects. All merchandise will be purchased in accordance with the company’s mission and focuses on outfitting all sizes of male and female customers.
Location of business: Singapore, Bugis Area
The business plan for this business will have to be prepared as per according to the attached file. The attached file document content is also mentioned below.
You will prepare and submit an APA formatted partial business plan on an instructor approved topic. A partial business plan is a blueprint for business success. If a business does not have a plan in place, there is no control. Your partial business plan will not include a financial data section. Please, do not copy a business plan from an existing company. The purpose of this partial business plan is to emphasize important concepts within MGMT 390.
Your Partial Business Plan must be at least 12 pages and consist of the following:
Your Chief Executive Officer (CEO) is considering starting a new business which requires information. You have been tasked by your CEO to report on the mandatory components below.
- You will prepare and submit an APA formatted partial business plan on an instructor approved topic. A partial business plan is a blueprint for business success. If a business does not have a plan in place, there is no control. Your partial business plan will not include a financial data section. Please, do not copy a business plan from an existing company. The purpose of this partial business plan is to emphasize important concepts within MGMT 390.
Type of Business (product or service)
- Provide a description of the business, the product or services, location, and any other facts you want to report.
Legal Form of Business
- Pick any form of business except a sole proprietorship.
- Why have you selected this form of business?
- What are the advantages and disadvantages of this legal form?
- Specify types of officers and duties.
- Review your state’s Secretary of State Website for information on the legal form of business. Consider the costs associated with that business form.
- If you are not in the United States, choose your home state.
Legal Setting of Business
- Expand upon the information you stated under the legal form of business. Describe any government laws or requirements that pertain to your business.
- Describe any zoning requirements for the business.
- Is a home-based business appropriate?
- Are there any restrictions such as zoning, safety, environmental, or other requirements that must be considered?
- Describe the property or location of your business. Why was this location picked?
- Have you considered transportation, ease of customer access, and utilities at this location?
Business License Research and Costs
- Describe the business license and/or permit requirements for the location where you will be doing business.
- Check the city and/or county websites for business license requirements and the costs for the business license.
- Describe the types of insurance that may be required for operating this type of business.
- Is bonding required?
- If you have employees, describe the mandatory types of insurance to consider.
- Describe any intellectual property that your business may own or create.
- Consider trademarks, copyrights, design specifications, patents, and logos.
Employment Law and Requirements
- If you have employees or will have employees, describe any employee laws and regulations you must comply with.
- Describe your decision for employees vs. independent contractors.
- Reviews IRS.gov for guidance on mandatory taxes.
Purchase Orders and Contracts
- For outsourcing, what types of pricing arrangements are you considering? Contract pricing arrangement examples are: firm fixed price, fixed price with economic price adjustment (EPA), etc.
- For other types of contracts, are you considering labor, time and materials, or multiyear-type?
- Support your contract types with justification. Why are you planning on using these purchase orders and/or contracts?
Torts and Crimes Protection
- Describe the types of torts and crimes relating to your business that you will have to protect from damages and disputes.
Property and Requirements
- Describe any company property (equipment, computer systems, or building requirements) that may be necessary for startup and planned for business operation.
- Do you plan of leasing, renting, or buying any business property? Please support your decision.
- As we have learned in this course, the Uniform Commercial Code (UCC) governs many types of business requirements such as contracts for lease or sale of goods, transactions, fraud, the passing of title, risk of loss, and other requirements. Describe how you plan to comply with the UCC for your business.
- Describe any other requirements you have learned in this course that need to be considered in starting, operating, and eventually closing your business.
- Your conclusion should summarize the main concepts addressed in this paper. Restate the blueprint for your businesses' success. Restate important ideas and recap your findings.