Experience Case Study #1: Business Plan Idea, Outline, or Feasibility Study There is no one perfect way to complete a business plan, business plan outline, idea or feasibility study; however, there are several key areas of research that you should probably focus on. In hard copy form, please outline, write-up, or discuss your business idea in some detail. This should be about 1- 2 pages only; we will expand upon this plan in later case studies like your marketing plan. Moreover, this is an excellent example of the type of work you can put into a professional student portfolio to show to a potential employer down the road. BUSINESS PLAN or IDEA OUTLINE 1. STATEMENT OF PURPOSE, MISSION or VISION (What is your value proposition? What sets you apart from the competition?) 2. Description of the business, background of owners, type of business entity (C corp, S corp, LLC, or Sole Proprietor) 3. What problem is it solving? How will you make money? 4. Define the local or national market statistics, growth or industry metrics you will serve: How many total dollars are generated currently, potential for growth, trends, etc? Is this a niche business or an new-age industry? Can include a feasibility analysis and/or a breakeven analysis. 5. Explain your business model: products / services/ margins, scalability (Shark Tank gives great examples here), niche subsector of larger sector, etc… 6. Target customers, markets, and locations (online, retail, service, hybrid, other)
