You will create a financial requirement plan that estimates all the financial information

Create a new venture financial plan that has two parts: 1) an Excel spreadsheet with estimates for the financial information, and 2) a written document with a summary of key financial information. This assessment examines crafting a business plan, building a strategic plan, identifying sources of financing, creating a financial plan, and managing cash flow. You will create a financial requirement plan that estimates all the financial information related to starting the new venture and operating it for the first 12 months. Your financial plan will include a spreadsheet with estimated financial information for your new venture and a summary of the key financial information for your new venture. A well thought out and fact-based business plan increases the likelihood of success for your new venture. A business plan is a written summary of your proposed new venture that includes operational and financial details, marketing opportunities and strategy, and the needed skills and ability of its management (Scarborough & Cornwall, 2019). The plan also identifies the required sources of financing and reviews how debt and equity will be managed. The financial plan is a tool used to identify and estimate the initial investment required to get your new venture up and running as well as the monthly operating expenses and revenues required to break even and achieve profitability in the first 12 months. Finally, cash management involves forecasting, collecting, disbursing, and investing the cash your new venture will need to operate. Reference Scarborough, N. M., & Cornwall, J. R. (2019). Essentials of entrepreneurship and small business management (9th ed.). New York, NY: Pearson. Overview Assume you are either going to (a) start a new venture on your own or (b) buy a franchise in a new location that will require a complete build-out. Indicate which option you are choosing in the introduction to your assessment. Then put together a financial requirement plan that estimates all the financial information related to starting the new venture and operating it for the first 12 months. Instructions This assessment has two parts. Templates are provided for each. Part 1 Financial Plan Worksheet Template [XLS]. (Enter all estimated financial information in this template.) (1) The initial investment required to get your new venture up and running. (2) The monthly operating expenses (overhead and direct expenses) for the first 12 months. (3) The monthly revenues required to break even and achieve profitability for the first 12 months. (4) Additional cash reserves needed to run the business in the first 12 months. Part 2 Financial Report Summary Template [DOCX] (5–6 single-spaced pages). This will be a summary of key financial information. (1) Initial Investment: Summary. (2) Monthly Operating Expenses: Summary. (3) Monthly Revenues: Summary. (4) Cash Reserves: Summary. (5) Funding Sources Review. Your completed financial plan will estimate: The initial investment required to get your new venture up and running. The monthly operating expenses (overhead and direct expenses) for the first 12 months. The monthly revenues required to break-even and achieve profitability for the first 12 months. Additional cash reserves needed to run the business in the first 12 months. Identification and review of three different funding sources for starting and operating new venture during the first 12 months. Estimate the following: Initial Investment (start-up costs). These may include: Business registration fees. Required licenses and/or permits. Legal and/or accounting fees. Initial franchise fee (if choosing franchising option). Initial franchise training costs (if choosing franchising option). Build-out and contractor costs. Furniture and required equipment costs. Rent deposit. Utilities setup fees. Starting inventory. Starting supplies. Et cetera. Monthly Operating Expenses (first 12 months). These should include: Monthly rent or mortgage payment. Insurance. Salaries. Utilities (electricity, gas, water, et cetera). Phone and Internet access. Website hosting. Supplies. Maintenance. Marketing and advertising. Direct costs of inventory sold (storage, postage, credit card fees, et cetera). Franchise royalty fees (if choosing franchisi‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍ng option). Franchise technology fees (if choosing franchising option). Franchise advertising/marketing fees (if choosing franchising option). State and federal payroll taxes. Et cetera. Monthly Revenues (first 12 months). These should include: Product sales (number of transactions, revenue per transaction). Service sales (number of transactions, revenue per transaction). Break-even sales level required. Profitability sales level required, net profit margin, ROI per month. Et cetera. Cash Reserves (first 12 months). Estimate additional monthly cash reserves needed to cover monthly expenses or unforeseen circumstances; minimize the risk of the new venture running out of cash during the first year of operation. Identify worst and best case scenarios. Funding Sources (first 12 months). Identify at least three (3) different source(s) for the funds besides your own savings, required to cover the initial investment to get your new venture up and running and any additional cash needed to fund operations during the first 12 months. Specify what you will need to do (be specific) to be able to obtain those funds. Research and Use Realistic Information! Additional Details Wages: Assume you will need at least 1 full-time employee and 1 part-time employee to help you operate your new venture. Make sure you research what fair and equitable wages will be for each employee based on their unique qualifications and job requirements. Use the going market rates for similar positions as a guide to insure accurate calculations. Rent/Lease: Estimate the minimum space required to setup your new venture. Then research actual locations using commercial real estate sites in order to use accurate information on rental/lease costs. Furniture/Equipment: Identify all the needed furniture and equipment to get the business up and running. Research actual costs using existing information and resources on the web or via the Capella Library. Utilities/Supplies: Estimate costs as close to reality as possible. Research actual costs using existing information and resources on the web or via the Capella Library. All Other Items: Estimate costs as close to reality as possible. Research actual costs using existing information and resources on the web or via the Capella Library. Formatting Guidelines Length of paper: The body of your paper must be 5–6 full single-spaced pages, not including the References list or Appendices. Section Headings: Use the headings in the templates provided. Written communication: Your paper should demonstrate graduate-level writing skills and should be free of errors that detract from the overall message. References: Support your paper with at least 3 academic resources from the Capella library. Use current APA style to list your references. Refer to the Capella Writing Center’s APA Style and Format module for more information. Formatting: This is a professional business document and should therefore follow the corresponding MBA Academic and Professional Document Guidelines, which can be found in the MBA Program Resources in the courseroom navigation panel. Font and font size: Times New Roman, 12 point. Evaluation By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: Competency 3: Analyze financial considerations for new ventures based on risk, environmental considerations, and business objectives. Assess the level and type of funding needed for entrepreneurial ventures and options for obtaining funding. Explain approaches to identifying the level of funding needed for a new venture. Assess how well different funding strategies meet the business need. Describe different types of risk an entrepreneur. Analyze impact of risk on the financial planning for an entrepreneurial venture. Competency 4: Develop a feasibility analysis for an entrepreneurial venture. Analyze cost, revenues, and profitability for the business idea. Analyze the importance of planning. Competency 5: Communicate in a manner that is professional and consistent with expectations for members of the business professions. Develop written communication that is professional, clear, concise, grammatically correct, and well-organized. Communicate appropriately for identified audience. Apply citations appropriately in recognition of intellectual prop‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍erty.

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