When you have selected your start-up idea you
will need to produce a business plan that includes all the following
information:
·
the product/service
·
the features and
benefits of the product/service
·
the demand
·
market research that needs
to be carried out
·
the target customers
·
the competition
·
how you will market
it
·
resources that will
be needed – finance, equipment, skills and expertise
·
any legal aspects
that need to be considered
The plan should state what needs to be done, when
by, how it will be done, and by whom (i.e. by you, or by an employee,
etc.).
This can be complete as an A3 mind
map poster activity with a description of the start-up idea in the middle of
the page along with an explanation of each heading around the outside of your
idea. Alternatively you could use this model here or here. This task is evidence of your though process when looking at setting up
a business.
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This
provides evidence for
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P4
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M4-
Explain how the initial plan for a business idea has the potential to respond
to market needs
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Date to be
completed
Wednesday 16th December 2015
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Provide a full explanation of how the idea will
meet the needs of the targeted customers and local market. Explain the methods you have used to
identify the target market.
Areas to discuss could be:
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This
provides evidence for
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M4
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