Blog 8: Independent Component 1 Proposal

1.  Describe in detail what you plan to do for your 30 hours.

I plan to spend at least thirty hours working on my very own business plan. A business plan is by definition, "A written document that describes in detail how a new business is going to achieve its goals. A business plan will layout a written plan from a marketing, financial and operational viewpoint." This whole process will involve a lot of research and tedious writing. I will be thinking of my very own type of restaurant whether it be vegetarian, fast food or dine in. The business plan will consist of:

An executive summary- which is just a run through of what the business is about. 

General company description- this includes a mission statement and goals of the restaurant. 

Products and services- which may include pictures and descriptions of products that will be available in the restaurant regarding the quality of the food. 

Marketing plan- include statistics and sources that will predict my projected sales. Also includes target group, benefits about my product and other strategies. 

Operational Plan- Where services are produced, type of location the restaurant is going to be in, legal documents, workers, inventory. 

Management and Organization- The basic manager of the business and their credentials.

Personal Financial statement- personal assets, stockholders, liabilities (this section is mainly just to show to the banks if you're planning on pulling out a huge loan, so this probably wont apply to me or I might just make a hypothetical financial statement).

Start Up expenses and Capitalization- This is a basic estimate of how much money I will end up putting in the restaurant. 

Financial Plan- The title says it all, there will most likely be a twelve month chart based on the projected profit and loss. 

Appendices- includes all types of information used to write up my business plan.

Refining the plan- includes a restatement of all sections. 

Click the link below to download the document that I'm basing my business plan off of, its basically a summary of all of the sections included in a business plan.

A view at how a business plan is written (click to download)

2.  Discuss how or what you will do to meet the expectation of showing 30 hours of evidence.

 I will be able to provide my house teacher with a bibliography of the different types of websites and books I used to write my business plan as well as biweekly progress reports on the actual plan and if that isn't enough I could have my mentor monitor me while I'm working on the business plan and sign off on how many hours I had spent on it. 

3.  Explain how what you will be doing will help you explore your topic in more depth.

I feel like writing my own business plan will allow me to learn more about each specific step needed to build up a restaurant and it will feel more realistic to me as if I was actually going to start up this restaurant. Giving me more of a hands on and personal approach to my senior topic

4.  Update your Senior Project Hours log.