BUS12 Business Assignment Sample
Added on 2021-04-21
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BUS12 BusinessAssignment v1.10 (2017/03/23)BUS12 – BusinessName:Email address:Assessment Assignment – Business plan and meeting Assignments may include short answer questions or longer answer questions and are designed to test how you apply your knowledge into a real-world situation. All assignments are completed as a Microsoft Word document and are submitted to an assessor through MyeCampus. Your assessor is looking for how you apply your knowledge and how you think critically about the topic area.Steps to complete this Assignmenti.Start with ResearchBefore commencing your business plan, it is best to ask yourself – and brainstorm – some serious questions about what your business is going to set out to achieve. Whilst this research component may seem large and overwhelming, you will be doing yourself a very bigfavour. If you complete the preliminary work (research of your product/service/customer), writing the business plan will be much more effective and efficient for you.How are you going to discover all of the information for the following set of research questions? Here are some ideas to help you get started:•Surveys•Interviews•Existing data•Council websites•Industry consultations•Cold calling, mystery calls•Google•Google keyword planner searchesii.Commence writing your business planFollow the following steps for an effective and efficient approach.a.Throughout this document, you will see [text written in brackets like this]. Such text is aguide only and should be deleted once answered or if not needed. Some questions in this business plan may not apply to your business structure. These questions will state that they are optional. All other questions are mandatory. b.Begin your business plan – Go to question 1. Ignite your business plan with a cover. c.Complete ‘The Business’ – Go to question 3, and complete each of the business components.d.Complete ‘The Market’ – Go to question 4, and complete each of the market components.e.Complete ‘The Future’ – Go to question 5, and complete each of the future components.f.Complete ‘The Finance’ – Go to question 6, and complete each of the finance components.g.Add supporting documents – Go to question 7, and attach any documents you have that will strengthen or enhance your business plan.1
BUS12 BusinessAssignment v1.10 (2017/03/23)h.Wrap it all up with ‘The Business Summary’ – Go to question 2, and complete each of the business summary components. This will be a brief of everything that you have covered in all the above steps.i.Review your processes and information – Go to question 8. and 9. Set a meeting with someone who is supporting your study journey, and create an agenda. After the meeting, produce the minutes taken, and include for assessment both the agenda and minutes.iii. Submit your work The following table of contents can be used to navigate to elements of your assignment Business Plan Contents The Business Plan Build Commences................................................................................................3Business Plan Summary.....................................................................................................................4The Future.........................................................................................................................................5The Business......................................................................................................................................6The Market......................................................................................................................................16Finances..........................................................................................................................................19Supporting Documentation (mandatory)........................................................................................29Assess & Review your business plan by conducting a meeting.......................................................302
BUS12 BusinessAssignment v1.10 (2017/03/23)The Business Plan Build Commences.1.Ignite your business plan with a cover. This is the first page someone reading the business plan will see. Complete each of the components in the below box.[][Your Name][Your Title] [Fitness For All][12 Darling Street, Newcastle, Australia-2282]ABN:[543 7875 874][Fitness For All] Business PlanPrepared:[14th March 2018]3
BUS12 BusinessAssignment v1.10 (2017/03/23)Business Plan Summary2.Use as few words as possible. You want to get to the point but not overlook important facts.This is also your opportunity to sell yourself.You ideally want to write this section last because it is a summary of each of the sections elaborated further on in the document.The BusinessBusiness name:[Fitness For All]Business structure:[Sole trader]ABN: [Registered Australian business number] 543 7875 874ACN: [Registered Australian company number if applicable]154 5421 214Business location [Newcastle]Date established[14th March 2018 proposed day of starting trading]Business owner/s [List all of the business owners.]Relevant owner experience [Competent trainer worked at several clubs in AustraliaProducts/ services[Products include training sessions at the gymanticipated demand for sessions will be 1 purchase every 2 weeks]The MarketTarget market[Whom are you selling to? Why would they buy your products/services over others?] [Customers of the Company will include men, women and children, who wants to achieve fitness levels. There will be an exercise plan given to them along with gym trainer assisting them in their programs. The primary reason customers will prefer this gym’s products over others is that it will offer products at affordable rates. The rates at which products will be marketed will include a complete package such that customers do not have to go anywhere else. ]Marketing strategy [How do you plan to enter the market? Market entry strategy will be by providing cheap sessional products with high quality levels.How do you intend to attract customers? Customers will be attracted by means of advertisements How and why will this work?] Other gymnasiums are providing much more costlier sessions hence the strategy will work.4
BUS12 BusinessAssignment v1.10 (2017/03/23)The Future3.Complete the components of this business plan in the following box.Vision statement[What is your business's vision statement? To generate well-being and high fitness levels in clients.It should briefly outline your future plan for the business and include your overall goals.] Future plans of the business is to open more branches for the gym and also offer online sessions to worldwide customer base. Mission statement[What is your business's mission statement? I.e. How will you achieve your vision?] Business missionstatement is to attract maximum possible customers in the region. Goals/objectives[• • What are yourgoals? Write down your short, medium, and long-term goals.Short term goal is to market the session to area based customer groups within 6 months period.Medium term goal to renew maximum possible client’s membership.Long term goal is to become the most profitable gym in the area. • What contingencies are in place for when targets are not being met? I.e. if you don’t reach your short term goal by destined date, what is your plan B?Contingency planning for short term is to continue marketing efforts till end of the year. • Is there a succession plan?Succession planning has not yet been developed• What activities will you undertake to meet your goals]Rigorous marketing activities including traditional and social media marketing will be carried out.GoalsShortMediumLong term1. Short term goal is to market the session to area based customer groups within 6 months period.2. To attain profitability within 6 months1. Medium term goal to renew maximum possible client’s membership.2. Appoint one trainer for 5 persons to develop better training schedules1. Long term goal is to become the most profitable gym in the area. 2. Become one of the most reputable and popular gym in the area Action plan MilestoneDate of expected completionPerson responsible5
BUS12 BusinessAssignment v1.10 (2017/03/23)[What are the business milestones that you need to complete starting from today?][When do you expect to complete them?][Who is responsible for delivering this milestone?]Setting up gym and purchasing equipment6 monthsOwnerAppointing trainers 3 monthsOwnerMaintain equipment1 yearManager6
BUS12 BusinessAssignment v1.10 (2017/03/23)The Business4.Complete each of the business components in the following box.Business details Product/ services[What products/services are you selling? If you have more than one product/service, describe each one separately.The gym will be selling sessions and individual training programs.What is the anticipated demand for your products/services?]High in the region due to increase in obesity levels. Owner expects to sell 2 sessions per week.For example, how many sessions will a client buy in 6 months or 12 months]Registration details Business name[Enter your business name as registered in your state/territory. If you have not registered your business name, add your proposed business name.] Fitness for AllTrading name/ names[Registered trading name/s]/ If business name varies from the name you intend to trade under Fitness for AllDate registered[Proposed registration date- this will be before you commence trading 14th March 2018Location registered[State/s you are registered in] /[proposing to be registered in] Darling, Newcastle, AustraliaBusiness structure[Sole trader, partnership, trust, company. Sole traderWhy have you chosen this structure for your business? What are the benefits?•Risk management reasonsNot easily manageable as it has to be done singlehandedly.•Tax requirementsLowest from all other types of business forms•Cost to set up$40,390•Legal requirements]$10,000 for registering the business and getting compliances doneABN[Registered Australian business number] or fictitious ABN] 543 7875 874ACN[Registered Australian company number if applicable] 154 5421 214GST[If registered for Goods and Services Tax, date registered]Will you be registered for Goods and Services Tax? If you run a business, you must register for GST if your GST turnover is at, or above the GST turnover threshold, that is, it is $75,000 or more. N/ADomain names[Registered domain names, Will you start a website? If so you will need topurchase a domain name.] www.fitness4all.auLicenses and permits [List all the licences or permits you have registered. E.g.:• Business name registrations: Yes• Association licence/s: Yes• Music licences: No7
BUS12 BusinessAssignment v1.10 (2017/03/23)• Program licences: Yes• Working with children: Yes permit• Franchisee licences: No• Council approvals] : YesBusiness premises Business location[Describe the location and space occupied/required. • What is the size of the space you occupy/require? 800 square foot of space• Which city or town?Newcastle • Home, Studio, Gym, Outdoors/mobile/ Collaborative work space? Gym• Where in relation to landmarks/main areas? At Darlings• If you have a retail business, where are you in relation to other shops? N/A• What is the retail traffic like?]Average to Good Lease/ownership Choose one of the following: Lease type✓1. The business premises will be leased on a 3 year lease for $40,000 per annum. The lease provides for an initial 2 month free rental period whilst you get the business off the ground. 2. The business will be run from a small shop currently owned by the business owner.The shop was previously used as an investment and is fully owned.✓3. The business will operate outdoors, and there will be no costs for leasing.Organisation chart [Outline your business hierarchy in the chart below or include your own.You may like to refer to your ‘Key Personnel’ section to make sure they match up.]8
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