Business Plan Summary

Business Plan Summary

The initial planning for a new business venture begins when a young entrepreneur-student such as my self notice an opportunity to develop a new or improved good or service for the consumer market or for a specific market segment (Jones, 2007). A business plan is a general outline of a business model to access the potential risks to prepare for problems and opportunities, focus on key points, and allocate resources associated with a new or existing business venture. The purpose of this assignment is to learn the basic element of a business plan including a SWOT analysis and a method to review and evaluate the problems and risks associated with opening a new business venture (Jones, p. 37).

Company Description

The plan selected for this assignment is the "Retail Discount Store Business Plan" for the Dollar Store; "a start-up retail store in Bend, Oregon that provides wide variety of merchandise items at bargain prices (bplans.com, 2012). Financing for this retail business come from the private investments of owners Jim Spencer and Ted Brinkman, who put down the equity which will be cleared in 36 months so dividends will be paid each quarter on the equity. The Dollar Store is incorporated as an LLC corporation to protect the owners from issues of double taxation and personal liability. In this light, the investors will be perceive as shareholders and therefore will not be liable for more than their personal investments (p. 1). The Dollar Store is expected to experience steady growth with an aggressive marketing plan as it becomes more familiar to the public" (bplans.com, 2012, p. 1).

Objectives

o "The Dollar Store wants to provide a wide variety of merchandise at reasonable prices.

o The Dollar Store wants to achieve a healthy profit

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