Based on market and industry research, this section will identify the likely customers or clients for your product or service. In other words, you need to answer the questions, “What currently exists in the marketplace, including competing products or services, and how does your business compare?” Be sure to consider the broader economic or political issues that may affect your product or service such as cultural trends, environmental impact, new technologies, and energy and transportation issues. 2+ sources required in this section.
Marketing Strategy (1/2 to 1 page): This section, also known as the advertising/marketing plan, should closely mirror or align with the market analysis section by presenting strategies for reaching and persuading your target market(s). Explain the grand-opening strategies as well as ongoing advertising efforts. Be sure to identify the reasons you are planning to advertise in a certain newspaper, on a particular radio station, or through some other media outlet–for example, how many people read, watch, or listen to this media source and what are the audience demographics?
Design and Development Plan (1/2 to 1 page): This section discusses the processes involved in designing and developing your product or service. You should specify if the product or service is completely or partially developed, if you plan to improve an existing design of a product or service, and how much more work your product or service requires before it is ready to be sold because it will affect how much funds you need from investors. If the product is already fully developed, you can skip the development section and talk about the design and how it is going to attract new consumers. If you are offering a service, then discuss the benefits derived by using the service, the structure behind the service, all the things that you need to set-up behind the scenes to provide that service (i.e. investment in hardware and equipment).
Overall Schedule or Timeline (1/2 to 1 page): This section provides a clear presentation of the process, from start to finish, with specific, dated benchmarks noted. A visual aid is required in this section, such as a chart or table, but still needs a brief written description.
Critical Risks and Problems (1/2 to 1 page): This section should identify risks or possible events that, should they happen, could cause a company’s revenues or profits to be lower than what the owner had forecast. Some examples might include keeping the project on the established timeline, not receiving enough initial funding, natural disasters, availability of necessary hardware and equipment, distribution problems, etc. You should only discuss direct risks to your particular business, so not all possible events are a risk to your particular industry or product.
Financial Plan (1/2 to 1 page): This section discusses financial requirements and financial projections. You need to present the main financial factors in clear and persuasive writing, in addition to tables or figures (which are to be placed in the Appendix). You need to research and obtain realistic figures for all major costs of starting and sustaining your business (e.g. office space, legal assistance, salaries and benefits, insurance, office equipment and supplies, website creation & maintenance, advertising materials, utilities, etc.). As part of the financial projection (noting costs across time), you need to answer the following: What are the initial costs, when can revenue be anticipated, when will there be a return on investment (if applicable)? 2+ sources required in this section.
Conclusion (1/2 page): Like a speech or essay, restate your main points clearly. Tie them together with a common them and make your prospectus memorable.
References (as many pages as needed): Sources should be in APA format, alphabetical order.
Appendix (as many pages as needed): The full table or figure for the financial plan should be here.
Drafting & Writing Process
All of the strategies we discussed while reading BWS–and that you put into practice while writing workplace memos and business letters–will still be useful here. You will work on this assignment in stages: Proposal, Peer Review Draft, and Final Draft. Focus on adhering to the outline above in order to make your drafting process easier and your prospectus more coherent.
Last Completed Projects
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