INSTRUCTION: MY EXISTING BUSINESS IS SPROUTS FARMERS MARKET.
Growth Plan – Submission 3
This is your final project for Introduction to Business.
You will develop a Business Growth Plan for an existing business to expand into
Southern Maryland or for a new startup business that has not yet been created.
You can work individually or in small groups of 2-3 students.
An existing business can be a corporation, non-profit, or
small business. If you would like to create a plan for a new, non-existent
business, you must first discuss with and receive permission from your
instructor. With either option you choose, you will create a plan for growth of
in Southern Maryland.
Use the outline below as a checklist for your Business
Growth Plan. Your fourth submission for your Business Growth Plan should
include the following main sections
-What customer service plans do you have?
Will you deliver to your customers, special or custom orders, consultation
Estimate how much of each product that you
will initially purchase, then estimate how often you will need to reorder.
Describe your target market. Who are your
customers? Be specific. Include age, gender, income, location, and other
Potential psychographic information. To whom
will you cater? How will you focus on them?
Industry Analysis (National).
What are the current trends in the
marketplace? How has the external environment (political, economic, social,
technological, environmental, and legal factors) affected your decisions?
Who might provide the accounting, legal, and
other services that your business requires? (Use the Internet to research)
Will a consultant ever be hired, and, if so,
under what conditions?
Risks the Business Faces.
List various risk factors and explain how
they will be overcome. What uncertainties must your business deal with? What
risks are involved with the form of business ownership you chose? What risks do
you have from competition? Can you think of other risks?