MANCHESTER 1824 The University of Manchester Funding Requirements and Sources of Funding (10%) ☐ outline (with evidence) key costs for starting-up and launching the new venture for first 2 years of the venture ☐ outline and justify (with evidence) forecasted sales for first 2 years of the venture ☐ complete 2 year cashflow forecast (use template on Blackboard) ☐ outline viable funding sources and justify chosen one(s) (tables with costs, sales and the completed cash flow forecast should be in the appendix and only discussion and justification of each in the main body of the plan - see section below on format of the business plan for further details)/n☐ identify resources required to set up and launch the new venture and identify and justify choice of suppliers ☐ identify people required to launch and run your venture (give details of roles, number of people per role, level of experience required and salaries) outline and justify how you will manage key aspects of the business: people, operations and quality outline and justify how you would grow the venture in its first 3 years/noutline and justification of pricing strategy outline and justification of the location of your business (physical and/or online) outline and justification of any processes involved in making and/or delivering the product/service to customers (e.g. use of distributors, delivery, automation involved etc) outline and justification of promotion and advertising outline and justification for how you will ensure customer satisfaction, build relationships with and loyalty from customers (if these are necessary to success for your venture) All aspects of the marketing strategy should be SMART (specific, measurable, achievable, relevant and time-bound)./nBased on your research of the market and industry you should create a value proposition and business model: For the Value Proposition ㅁ ㅁ using the Value Proposition Canvas template show your value map and customer(s) profile(s) state clearly your value proposition statement (based on the value proposition canvas) justify how what you are proposing to offer meets the needs and desires of your target customers (i.e. how does your value map fit with the customer profile?) For the proposed business model ㅁ ㅁ • use the Business Model Canvas to map-out your proposed business model Justify key choices you have made in the Business Model Canvas (i.e. where is value most created?, how does it deviate from competitors business models?) Evaluate the proposed business model (e.g. in terms of desirability, feasibility, viability and adaptability or other appropriate means) (a completed Value Proposition and Business Model Canvas should be in the appendix and only discussion, justification and evaluation of each in the main body of the plan - see section below on format of the business plan for further details)/nFor market analysis: identify target market (who are your key customers?) evidence of a need/desire for your product or service potential size of market macro trend analysis (e.g. PESTLE analysis) For industry analysis: comparison with competitors (both in terms of offering and their resources) how is your product/service different to what is currently offered macro industry analysis (e.g. Porters 5 Forces Analysis) (a completed PESTLE, Porters 5 Forces or similar analysis may take the form of tables. These should be in the appendix and only discussion and evaluation of them should be in the main body of the plan - see section below on format of the business plan for further details)/n• 3000 word business plan + 10 sides of appendices. Business idea can be for: - any new product, service and/or business model adaptation of existing product, service and/or business model - existing product, service and/or business model in a new market Business can be based in any country and must meet all the county's laws

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