...enclosed a copy of the business plan for Kajillion Compounding Solutions Thank you for taking the time to consider our proposal and hope that you find all pertinent data within. There is seemingly a pharmacy on every street corner in the United States, any of which can fill a prescription for a pill or cream any time day or night. But, there is a pharmacy sector that is being largely ignored. Compound pharmacy is a booming business for those few pharmacies that partake. It is estimated that the business of pharmacy compounding has grown to over a billion dollar per year business (PRWEB.com, 2012). What Kajillion Compounding Solutions aims to do is to aid pharmacies that are not currently compounding and help them establish that as a part of their business. The main target of this company are independent pharmacies all over the country. KCS's goal is to reach out to traditional retail pharmacies and offer them assistance in gauging the interest in compounding as well as offer them our unique knowledge and expertise in helping them maintain that business after they have chosen to move forward. The founders of the company hold nearly one hundred thousand dollars in capital to help the business get off the ground. We are asking for another twenty thousand dollars to help offset some start-up costs and the in the acquisition of equipment that will be used to demonstrate the practice of compounding inside the guest pharmacy. This type of business, by it's nature is going...
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...Small Business Plan September 20, 2011 Accounting 561 Being able to have a small business that is important to the community is the ultimate goal for my company. Providing lost cost party and wedding planning is goal of Sia’s Supreme Planning. Deciding on the best business form out of sole proprietorship, partnership, “C” corporation, and “S” corporation are the first step in building a lucrative company. Once the business organization has been decided, we have to decide on the best financial statement associated with the business. Understanding the business forms such as tax implications, legal implications and accounting implications will provide clarity during the filing for taxes. There are several advantages and disadvantages to sole proprietorship, partnership, “C” corporation and “S” corporation. A sole proprietorship is one person alone. He or she will have unlimited liability for all debts of the business, and the income or loss from the business will be reported on his or her personal income tax return along with all other income and expense he or she normally reports (although it will be on a separate schedule). Although proprietorship avoids the expense of forming a partnership or corporation, many start businesses this way because they are unfamiliar with the other forms of organizations (Business Organization, 2011). All profits and can be re-invested in the business or it can be used by the owner and negative aspect is Owner has full liability for entire...
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...m Small Business Network Plan Gareth McCartney CIS – 175: Introduction to Networking Assignment 6 August 29th 2010 When designing and building a small business network we must consider the fact that small businesses generally lack the support associated with corporate IT offices. Therefore small business networks should ideally be straightforward and easy to manage. Since the needs of organizations vary, complications will always arise if we attempt to use a generic plan. The main principle we should use in creating this plan is to “follow the simplest approach to achieve the desired result” (Breeding, 2010). Our goal is the create the best possible network with the greatest functionality while maintaining the lowest possible cost. Typically a small business network would consist of around twenty four computers, possibly two servers, a network printer and access to other networks and/or the internet. However for this paper we will limit this network to two workstations one quality printer Internet access multiple email addresses. In most situations, the available finances to connect machines together to share files, printers and internet is limited. Therefore we should consider the cost of acquiring and setting up network adapters, hubs and other network devices such as gateways. An important factor that should be considered is the available options for connecting to the internet. Most areas of the United States have access to dial-up...
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...Plan Small Business Finances Assessment 1: Simulated Workplace Scenario: Introduction: For the case of this task, I will be simulating that I have invested my life savings to start a small business, that of a bakery. Having had previous skills in this industry, and already locating an ideal position with minimal competition, I will now undertake a number of financial projections for the business, with the end goal being to obtain finance to help with the start-up costs. The document will cover aspects as follows: Part A: • All costs, fixed and variable, relating to the start-up and general running of the business. • Prices of goods based off of costs and profit margin. • Break even sales points. • Pricing strategies related to market conditions. • Projected profit statement. Part B: • Set profit targets/goals. • Identify working capital requirements. • Identify asset requirements and asset management strategies. • Prepare cash flow projections. • Identify capital investment requirements. • Select budget targets and monitor financial performance. Part C: • Start-up and ongoing financial requirements • Sources of potential finance. • Cost of securing finance and strategies in order to obtain it. Part A: Research: The general running of the business will be done by myself and 2 full time employees, from a single location, operating 6 days a week, Monday through Saturday. The initial set up costs for the location, including 2 months of upfront rent and a...
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...S. Small Business Administration MP-5 BUSINESS PLAN FOR THE SMALL CONSTRUCTION FIRM Management and Planning Series ______________________________________________________________________________ The material in this publication may not be reproduced or transmitted in any form or by any means -- electronic, mechanical, photocopying or other -- without prior written permission of the U.S. Small Business Administration. "How to Write a Business Plan." Copyright 1990, Linda Pinson and Jerry Jinnett. All right reserved. All of SBA's programs and services are extended to the public on a nondiscriminatory basis. ______________________________________________________________________________ TABLE OF CONTENTS INTRODUCTION A Note on Using This Publication 1 What's in This for You? 1 Why Are You in Business? 1 What Business Are You In? 1 MARKETING Where Is Your Market? 2 Advertising 2 Competition 3 Sales Strategy 3 PLANNING THE WORK 4 GETTING THE WORK DONE Personnel Requirements 7 Equipment Requirements 7 PUT YOUR PLAN INTO DOLLARS Expenses 8 Matching Money and Expenses 8 Is Additional Money Needed? 8 CONTROL AND FEEDBACK 9 IS YOUR PLAN WORKABLE? 9 IMPLEMENTING YOUR PLAN 9 KEEPING YOUR PLAN CURRENT 10 APPENDIXES A. Income Projection Statement 11 B. Cash Flow Projection Construction Firms 15 C. Balance Sheet 17 D. How to Write a Business Plan 21 E. Information Resources 25 ______________________________________________________________________________ INTRODUCTION A business plan can...
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...Small Business Plan The Toddler Warehouse will be afull-service child care/development facility in the city of Perth that caresfor toddlers from age three to five. The Toddler Warehouse will beconcentrating on the upper end of the market, two income professional parents.These personally ambitious parents are typically eager in terms of theirchildren's development and are willing to pay to have their children attend thebest facilities. Through specialized training of the supportstaff and innovative learning systems, The Toddler Warehouse is cutting edge interms of child development. This curriculum, coupled with a custom designedfacility and a low teacher/student ratio ensures a top-shelf service for thechildren and the parents. The Toddler Warehouse expects to become profitable bymonth 11, and has projected $43,000 as the revenue for year three. Situation Analysis The Toddler Warehouse is a start-upbusiness. A comprehensive marketing plan and effort will be instrumental indeveloping visibility and generating sales. The Toddler Warehouse offers Salem, Ore. a full-service child care and child development facility for toddlers. Theseservices will be differentiated from the competition through advanced trainingand learning systems [1]. Market Summary Through a lot of research, The ToddlerWarehouse has accumulated good information regarding the market and is aware ofmany common attributes of key customers. The Toddler Warehouse will leveragethis information to continue...
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...Small Business Introduction “Ensuring small businesses can thrive is about more than economic success. It’s also about who we are as a people. It’s about a nation where anybody who’s got a good idea and a willingness to work hard can succeed. That’s the central promise of America.” “Small businesses are leaders in innovation and drivers of the economy. Small businesses hold more patents than all of the nation’s universities and largest corporations combined, and create two thirds of all private sector jobs, employing half of all working Americans. The Federal government is the largest buyer in the world, spending over $500 billion each year. For the Federal government contracting with small businesses is common sense. Small businesses get the revenue they need to create jobs and drive the economy forward, and federal agencies get the creativity, innovation, and technical expertise of small businesses to help accomplish their mission. When small businesses are excluded from federal contracts, the Federal government, American taxpayers, and the nation’s economy lose out.” Interagency Task Force on Federal Contracting Opportunities for Small Business Objectives • Identify the elements of the Department of Defense (DoD) Small Business Program for defense acquisitions to include the overall policy and regulations, small business goals, small business size standards, non-manufacturer rule, and North American Industrial Classification System (NAICS) codes. • Identify...
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...Small Business Management American Public University February 6th, 2013 Abstract In this paper I will discuss the role and the importance of small business. There are several arguments for owning a small business and there are plenty of arguments against owning a small business. I will present how to start a small business, how to organize a small business, and how to operate a small business. This paper can be used a Small Business Bible, or a “How to” guide for anyone looking to open a small business. Small Business Owners and Managers face various issues such as social responsibility and ethics, those issues will be discussed in this paper. At the end of this paper you will be able to write a Business Plan and decide if owning or managing a small business is for you. Defining small business is not easy because the definition varies, however a small business is independently owned and operated and is not dominant in its field. There’s not much difference in a entrepreneur and a small business owner. I think everyone thinks about owning their own business at some point in their lives. I’ve thought about owning a hair salon, a beauty supply store, a restaurant, etc. the list goes on…however most recently I thought about owning a night club. Before starting a business the Small Business Administration (www.sba.gov) suggests you ask yourself the following questions: 1. Why am I starting a business? 2. What kind of business do I want? 3. Who is my...
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...Some business ideas come from a long-held dream to turn a fun hobby into a profitable life’s work. However, most of these small businesses require significant time, energy, and initial investment to begin, so think carefully about your commitment and do your research before you start. If you are thinking about any of the following small business ideas, you’re not alone. These are some of the most frequently searched on Bplans.com. Each section below includes sample business plans, business-planning tools, startup kits, and other online resources that are specific to each business idea. Restaurant Small Business Ideas From cafes to kiosks to fast food to takeout to full-service eateries, business ideas on how to start a small business involving food are our most frequently searched startup category. The following resources can help you turn your idea into a reality: Sample Restaurant Business Plans We have over 40 different restaurant-style sample plans, and 20 of these restaurant plans can be read in full online. See the full list of restaurant sample plans. Start a Restaurant Resource Page Our start-a-restaurant page contains a variety of resources and other tools that will help you effectively write a restaurant business plan and get your business cooking. Other Restaurant Articles This article on marketing your business includes an example about obtaining statistical research on restaurants in your area, as well as suggested agencies to contact for more up-to-date...
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...“Entrepreneurship and Starting a Small Business” Brian Thompson Everest College Phoenix Online MAN 1030 Introduction to Business Professor Mary Ritter 12/08/2012 Abstract In this paper I will be discussing what contributes it takes to become a successful business owner. I will be going over the characteristics of being a small business owner. I will also be discussing how to go about creating a business plan. In discussing the business plan, I will be giving the purpose of each component. “Entrepreneurship and Starting a Small Business” Eric has already created two successful businesses and is looking to start another. He already has the characteristics of a successful entrepreneur. He is self-directed, committed and willing to work hard. He already has experience in owning a small business and knows what it takes to make a small business successful. Eric seems to have beaten the odds already. What do you think Eric would tell you about success (or failure) and how to learn to be a successful small business owner? There are several characteristics to become an entrepreneur and start a small business and the one is being self-directed. You have to be comfortable being your own boss because you alone will be responsible for its success. Second, you have to believe in yourself when nobody else does, which is being self-nurturing. You also have to be committed and highly energetic by being able to emotionally, mentally and physically work hard, but mostly long...
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...Finance 100 Dr. Crawford March 7, 2013 Strayer University, Augusta Campus Owning and operating your own business is a goal of most Americans. The thing about owning your own business is to understand the concepts of operating a small business. When thinking about starting a small business, a person must have a well written business plan. A business plan is an “a formal document that describes a business concept, outlines core business objectives, and details strategies and timelines for achieving those objectives” (Kelly & McGowan, 2012).A business plan consist of marketing: products and services offered, demand from customs, market and location, advertising and marketing plan and pricing strategy, Financial Management: amount needed to start, expected cash flow, projected income and balance sheet, etc...Operation: daily management, hiring and personnel policies, insurance coverage and leasing agreement (Gordick, 2003). Within a small business, a small business owner must be able to keep track of the money that is coming in and going out. Using the different financial source and equation to operate your business is essential in owning and operating a small business. Understanding the concepts will help you own, operates and sustain a small business. NPV and payback is a concept a small business owner must understand, when making decision in a small business. NPV or net present value method is a dynamic investment appraisal and a discounted cash flow method (Rudolf...
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... CHAPTER 6 1. The person who takes the risk of starting and managing a business to make a profit is called a(n): A. entrepreneur B. venture capitalist C. capitalistic adventurer D. franchiser ------------------------------------------------- E. ultra capitalist 2. Andy Yocom saw prime advertising space on the flags on the golf course. He reasoned that any marketing messages would get prominent attention if they were placed on the flags since golfers focus on them when they take their shots. As a result Yocom used his own initiative and money to start Invision Golf Group Inc. Yocom is an example of a(n): A. entrepreneur B. venture capitalist C. capitalistic adventurer D. franchiser ------------------------------------------------- E. ultra capitalist 3. Jon P. Farmer is the founder of Kolopua Hawaii LLC, a company that markets Pure Hawaiian Air. Bottles of Pure Hawaiian Air contain air that smells like the floral bouquet that greets tourists as they get off the plane in Hawaii. Retailing for about $5 apiece, the bottles are sold at gift shops in Hawaii, as well as to travel agents nationwide who give them to clients. As a(n) _____, Farmer's annual income exceeds $100,000 annually. A. venture capitalist B. franchisee C. franchisor D. entrepreneur ------------------------------------------------- E. financier 4. An entrepreneur is a person who _____ a business. A. finances B. manages C. locates D. owns and operates ------------------------------------------------- ...
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...Westar Small Business Solutions Compensation and Benefits Jerome Rutledge, Rahim Shadid, Sridhar Venugopal, Ursula Wester, and Cassandra Woods HRM 531 April 18, 2013 Carolyn Szlaga Purpose The purpose of this plan is to provide fair and equitable compensation for the individual(s) that will be performing the assistant project manager role at Westar Small Business Solutions. This plan clearly describes the total compensation that Westar Small Business Solutions will be providing to those performing the Assistant Project Manager Role. Eligibility This compensation plan applies to full-time, managerial employees performing the Assistant Project Manager Role at Westar Small Business Solutions. This plan does not apply to part-time or contract staff. Goals and Objectives Westar Small Business Solutions believes in the following compensation principles: * To provide fair and equitable compensation to employees. * To reflect the extensive educational and experience credentials required of Consulting Professionals as well as the value their roles bring to the organization. * To offer competitive pay and benefits, within the context of our industry to attract and retain the best talent possible. * To use compensation as a tool to recognize individual merit. * To provide performance-based incentives to encourage excellence and reward employees for his or her contribution to the achievement of organization goals. Compensation Components Total compensation...
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...entrepreneur mean to you? What characteristics do you think make a person a successful entrepreneur? Why is strategic planning important to a small company? What business strategies are available to small businesses? week 3 Preparing a Financial Plan Why is preparing a financial plan so important? How do financial ratios fit into the preparation of a financial plan? Cash Management Why is cash management so important to a small business? How can a small company avoid a cash crunch?weekn 5Describe a source of equity financing, and discuss when this type of financing would be appropriate for a small business. Dq2 Describe a source of debt financing, and discuss when this type of financing would be appropriate for a small business. week 7 Risk and Legal Issues (graded) In your opinion, what is the greatest risk in owning and operating a small business? Explain. Insurance (graded) Insurance can be a costly expense, especially for a company that isn’t profitable. Explain the different types of insurance that a small business can obtain, and identify which ones you think are crucial, which are not, and why.week 6week 6 Supply Chain Management (graded) A purchasing plan can mean the difference between success and failure of a small business. Why is it important to develop a purchasing plan? What should be...
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...contract arena a small business would want to be educated on the ins and outs of government contract bidding. The federal government encourages small businesses to participate in government contracts. Each year, the head of each federal agency may set aside the award of certain acquisitions exclusively to small business concerns. Those set- asides may either be whole or partial. Total or partial set asides may be conducted by using either sealed bids to competitive proposals. (Hearn, 2011) The president also establishes annual government-wide subcontracting goals that help the agencies formulate their own specific goals. A determination to make a set aside may be a unilateral decision by the contracting officer. Once the product or service had been acquired successfully by a contracting officer on the basis of a small business set aside, future requirements for that particular product or service will normally be acquired by that contract officer on the basis of repetitive set aside. The set asides are also for assuring that a fair proportion of Government contracts is placed with small business concerns. Government-wide goals are 23 percent for small businesses, three percent for service-disabled veteran-owned businesses, five percent for small disadvantaged businesses and five percent for women-owned businesses. (Hearn, 2011) In order to achieve those goals, FAR 19.702 requires prime contractors that are “other than small” to submit detailed small business subcontracting...
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