Moderately priced between the high-line hotel properties and the older motel strips, Seven Elms Resort shall fill an affordability niche not presently available in Benzie County. With this refurbishment and other new amenities, Seven Elms Resort will form the basis of a highly profitable hotel venture. We are seeking funds to develop and expand the business in a phased approach, as highlighted within this document.
Location and Facilities optional 1. Company Overview There are many variations and approaches on how to lay out the various components of a business plan.
The primer below is meant only to explain the broad differences between the most common company types. So for example, if you sell someone a cupcake and they sue you because they found a hair in it, and you lose in court, the creditors can legally go after your personal possessions — such as the roof over your head.
Partnerships A partnership, according to the IRS: Each person contributes money, property, labor or skill, and expects to share in competitive environment business plan profits and losses of the company.
Corporations A corporation is a separate legal entity owned by shareholders. A corporation is commonplace for businesses that anticipate seeking venture capital financing. S-Corporations You can elect a special tax status with the IRS to have your corporation not be taxed at the corporate level instead, it would be taxed as a pass-through entity.
If you have not yet incorporated Describe the type of company you plan to open, along with the registered name you plan to use. Explain your rationale — for example, if you are starting a company where you plan on seeking venture capital financing, then you will want to start a C-Corporation as majority of VCs will insist on this legal structure.
Management Team For start-ups, and especially those seeking financing, the Management Team section is especially critical.
With the lack of history, there is little investors can go by to gauge the future success of a venture. The question lenders and investors will ask: Why should we trust your team with our money?
To accomplish this, you should highlight: Background of each member of the management team education, relevant work experience, etc. Roles and responsibilities within the company. For established businesses If you have an established business the information you want to present is the same.
Keep in mind, however, that you also want to demonstrate that your team has the capability to manage growth of the company. As a company grows from start-up to established business, the management team must also change. What is a Board of Directors?
In a publically trading company the Board of Directors is elected by the shareholders and is the highest authority in the management of the company. For our purposes context of a private company that is most likely a startup or small but growing businessa Board of Directors is comprised of investor sfounder sCEO and independent board member s who have substantial business and industry experience.
What is an Advisory Board?
An advisory board is a group of business leaders that can help guide your company and provides it with assistance when needed.
Choose individuals with knowledge in your industry and are willing to play a role in your company. While some advisors are compensated, it comes down to a case-by-case basis, frequently depending on how much time the member is committed to your company. Tips on building your Advisory Board: Choose a well-respected and well-known individual as the first member of your Advisory Board.
This will help you to recruit other members of the Board.The #1 Guide to Modern Business and Competitive Analysis—Fully Updated with New Methods, Applications, and Examples! To deliver powerful strategic support and competitive insights, analysts must draw upon a robust repertoire of conceptual methods, models, tools, and techniques—both old .
Encyclopedia of Business, 2nd ed. Hotel Resort Business Plan: Business Plans - Volume Building a strategic plan or engaging in strategic planning can make a difference, particularly when it has a long-term focus and is used as a management tool, rather than simply being an exercise in forms completion.
Traditional strategic planning can be broken down into four sequential steps: market research; strategy formulation and planning. Nov 12, · How to Write a Business Plan.
Creating a business plan will help you achieve your entrepreneurial goals. A clear and compelling business plan provides you with a guide for building a successful enterprise focused on achieving your personal. As an integral part of the classroom curriculum, DECA’s industry-validated competitive events are aligned with the National Curriculum Standards in the career clusters of marketing, business management and administration, finance, and hospitality and tourism.
Strategic Planning Process Workplan. Running the Planning Session Guides. Strategic Business Plan Workbook. SWOT Analysis Model-I. SWOT Analysis Model-II.