BMO6622 Business Plan Rubric Name of Business: Business Plan Evaluation Rubric 0 = no evidence 1 = little evidence or major flaws 2 = adequate minimum standards 3 = Research and planning well done, few minor omissions, met standards 4 = Research and planning well done, exceeded minimum standards Grading (Mark) and Comment Cover Page All information present, including: Name of the Business Names of the owners (the group members) and Student ID Date Any other information needed (Turnitin Report and Assignment coversheet) 0 1 2 3 4 (2) Table Of Contents Includes each major section. Includes page numbers. Organized, neat and complete (so as to assist the reader) 0 1 2 3 4 (1) Executive Summary Each key section briefly summarized. Specifically answers: What business are you in? Where will you locate and why? What is your product/service? How much capital will be needed? Why should someone invest in your company or be attracted to it? (Length is one to three pages.) 0 1 2 3 4 (4) Product or Service Description (Business Concept) What you are trying to achieve with benefits provided. Give sufficient detail to enable investors to develop a working understanding of what the company sells May include photographs, schematic drawings, and descriptive scenarios Describe how product/service fills a gap in the market or how your product/service is “better, cheaper, and/or faster” than what is currently available If a Mobile App, WebPage or other Internet business provide clear description and mock up in appendices Focus on the benefits of each feature • Feature refers to what the product/service is • Benefits refer to what the product/service does • Emphasize and demonstrate the innovation If needed include the technical feasibility of the product – is it doable? • Associated costs • IP issues and patents (if needed) Key strategy (include Exit, Growth Strategies, as needed) 0 1 2 3 4 (4) Industry, Target Market, and Competitor Analysis Describe the broader industry in which you will be competing Identify the different segments of the industry (Use of appropriate marketing models and frameworks) Describe in detail the niche in which you plan to participate Specifically identify the target market Review of new business’ top competitors and their relative market share Examine markets that competitors serve and the strategies they employ Describe barriers to entry and articulate strategies for overcoming them Barriers to entry (characteristics of an industry that make it difficult to start new ventures) Describe expected response from competitors Value Proposition, Strategy Canvas and ERRC 0 1 2 3 4 (5) Company Description Basic information (mailing address, phone number, website, email, etc.) Legal form (partnership, corporation, etc.) – be specific Mission statement Goals and objectives How the venture was conceived Nature of business, its primary product/service, its current status (startup/buyout/acquisition/merger/) 0 1 2 3 4 (2) Market Analysis and Marketing Plan Describe how the firm will reach and service customers within a given market (target market) Explain the marketing strategy (Link to Literature) How will customers be identified and attracted? Pricing strategies Selling approach Type of sales force Describe advertising and promotion campaign Media used—viewer/listener profiles Media costs Frequency of usage Plans for generating publicity Web presence Credit and pricing policies Budget for marketing plan Hint: Leverage as much free advertising as possible Usually 2 or more pages long 0 1 2 3 4 (4) Operating plan with location and layout (if a Physical Building/Structure) Location Demographic analysis of location versus target customer profile Lease/Rental rates Labour needs and supply in relation to legislation Wage rages and Awards (penalties and over award payments) Layout/facilities Size requirements Facilities and equipment OH&S considerations Ergonomic issues Layout plan (put appendix and diagrams or mockups) OR Clear outline and explanation of means of operation and distribution if there is no physical building or structure. 0 1 2 3 4 (3) Management Team Emphasize relevant expertise that each team member brings to enterprise Experience Education Duties Employee requirements, e.g training and work needs (if any) List and highlight strengths of other stakeholders who will contribute management or consulting expertise (legal structure) Board of Directors Advisory Board List legal counsel or other professional service firms such as accounting, management, etc. 0 1 2 3 4 (3) Financial Projections - Accurate, correct format, consistent, realistic Should be conservative but achievable; reasonable yet compelling 1.Start-up costs statement (one off an operational) 2.Sales forecast for the first 3 years 3.Expenses budget (fixed and variable costs) for first 3 years 4.Income projection for first 3 years - including profit and loss 5.Break-even analysis 0 1 2 3 4 (5) Loan or Investment Proposal Amount requested/needed Purpose and uses of funds Repayment, ROI or “cash out” schedule (make clear any exit strategy) Timelines for implementing plan and launching business 0 1 2 3 4 (3) Appendices The Appendices (beginning on a separate sheet at the end of your plan) can include pertinent information about yourself and your business that is not included elsewhere in the plan. DO NOT REPEAT INFORMATION FROM PREVIOUS SECTIONS. The appendices should be used to complement or supplement your previous information. Some possible details to include are 1. Organizational structure (if not previously listed), including management structure, organization chart(s), and resumes of key people 2. Major assumptions you have made in preparing the plan 3. Intended publications or marketing tools 4. Layout schematic of physical or electronic product 5. Details of objectives and goals 6. Photographs, mockups or technical information 7. Web page design features 8. References 0 1 2 3 4 (1) Expression Spelling, capitalisation, punctuation, grammar, concise word choice, and sentence structure. 0 1 2 3 4 (2) Format Professional lay out with Font size 12 - for ease of reading Appropriate headings and subheadings for each section No typographical errors 0 1 2 3 4 (1) Total /40