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UopEinstineVenture Concepts Paper 6
8/10 See comments & rubric below.
First step is the business concept that should answer questions such as: Who are the customers? Does it already exist? What is competition like? What special capabilities do you (or your team) bring to the business?
Make sure that you identify your project clearly as well as the resources you will need to implement your vision. In subsequent weeks, you will further develop the business concept including budgets, etc. This could be the beginning of your new enterprise! Follow the comments I have made concerning the organization of the paper itself.
Venture Concepts Paper
Student Name
10/20/2014
FIN/375
University of Phoenix
Business Concept
A conceptual small business startup venture that I would like to establish, develop and operate for this individual assignment is a total facility service firm . For starting a company, a good business name, registering that name and getting a tax ID number. Some tangible things required are uniforms, security equipment, cleaning supplies, a place to store the equipment, cash flow capital, business proposal and potential clients. Prior to some of the raw materials, proper licensing, business registration, insurance and bonding is necessary when establishing a new facility company. The equipment we needed for the restaurant will be a scullery sink, hand sink, ice machine, convection oven, and prep table. Additionally, we need a freezer and a refrigerator .
Resources
The number of employees I would like to start with will be about 20 workers. Employees are vital components of providing a professional, quality cleaning service ; My Company will provide adequate pay, additional employee benefits, and extensive application processes to extract the highest quality of customer service from all employees. The barriers to entry in the cleaning industry are relatively low resulting in intense competition . Cleaning businesses are low capital businesses meaning little money is necessary. There are no formal educational or professional requirements. Even experience within the industry is not necessary. Besides the cleaning aspect, security guard personnel need to have the basic power to arrest training as well as other state required training.
Market
The target customer demographics of my client base will be schools, hospitals and entertainment venues . There is a major need for facility cleaning as well as crowd control at major sports venues. Hospitals need janitorial services, hazardous waste disposal and security at frequent checkpoints . A weaknesses or disadvantage of the company would be new position in the market, New market with unlimited opportunities Market is showing consistent high growth Impending threats: Low barriers for entry of competitors will make ease of finding substitutes.
Benchmark
One current company that was an appropriate benchmark to our venture is US Metro Group (www.usmetrogroup.com). This company is a whole facility servicing company based in Los Angeles, CA. It started out with one employer who hired a crew then expanded that crew. They now have twenty different locations nationwide and a office located in Seoul, Korea .
In 1979, a poor immigrant from South Korea by the name of Charles Kim worked day and night as a janitor. Knowing barley any English, he worked his niche on becoming successful and hard work. Going back to a poor lifestyles was not an option .The founder positioned himself in the community with chamber of commerce chapters and local municipal meetings. US Metro largest contract is currently the Staples center in Downtown, Los Angeles CA. His crew is made up of 3000 people (which includes janitorial, guest services and security) than clean the Staples Center every single night. Their business model will be very similar to ours. They have a commitment of keeping a green and eco friendly approach.
Conclusion?
Competition within the targeted area is fierce; therefore, Immaculate Cleaning Services will carve a niche market by targeting churches. No companies truly dominate this industry . However, there are large companies and franchises (i.e. ABM Industries, Clean-King, and Sodexo) throughout, small businesses account for more than 90% of industry sales. The recent growth has been in small independent operations. Contributing factors include recent trends of corporate downsizing and the increased potential of outsourcing. Businesses no longer keep in-house cleaning staffs. It is possibly more feasible to outsource such services, thus losing a certain degree of accountability.
You need a stronger conclusion. The conclusion should summarize the most important points of the discussion in more detail. A good indication for a good introduction and conclusion is as follows: can the reader look at my introduction and determine what are the issues are that I will be discussing? Without reading the discussion section, can he read the conclusion and understand the answers/solutions to the issues mentioned in the introduction?
No References?
Content 70 Percent |
Points Available 7 |
Points Earned X/7 |
Additional Comments: |
The paper clearly and effectively demonstrates the following: · Describe The conceptual venture you would start (2.5-points) · Briefly discuss the resources you think would be needed.. (2.5-points) · Benchmark your conceptual venture with another similar enterprise to yours and give details.(2.0-points) |
2.25 1.5 2 |
5.75 |
You focus on the market but other resources needed include working capital, transportation, supplier, marketing, etc. Need to have a better description of the competition, pricing, location and clientele, to name a few. Product differentiation is an important part for success. I do not see clearly what yours is. Need to provide more business details based on market research. |
Organization / Development 15 Percent |
Points Available 1.5 |
Points Earned X/1.5 |
Additional Comments: |
· The paper is no more than 750 words in length.(.5-points) · Student provided sufficient background on the topic and previews major points.(.5-points) · The paper is logical, flows, and reviews the major points.(.5-points) |
|
1.25 |
More research is needed concerning this type of project including the sources of this information. |
Mechanics 15 Percent |
Points Available 1.5 |
Points Earned X/1.0 |
Additional Comments: |
· APA Formatting or layout and graphics are pleasing to the eye (font, colors, spacing). (1-point) · Rules of grammar, usage, and punctuation are followed; spelling is correct. (.5-points)
|
|
1.0 |
Subtitles, conclusion, no references. |
|
Total Available |
Total Earned |
|
|
10 |
8.0 |
|
Venture Budgeting and Forecasting Paper
DUE MON 27TH 1030pm PST
(I can be reached at [email protected] for further assignments; I will pay thru Paypal on an individual basis)
Resources: Kudler Opening Budget
Write a 700- to 900-word paper in APA format in which you do the following:
Base Paper off of Venture Capital Concept Paper
· Illustrate how your venture would perform by estimating the revenue and expense to calculate operating profit or loss. Include estimates of your venture’s main sources of revenue and the expenses expected in the main cost categories such as the cost of goods, sales and marketing, labor, rent, maintenance, and any other significant expenses.
· Illustrate your venture’s startup costs by estimating a preopening budget—also termed development budget—that includes startup costs such as building and construction, Web site development, preopening marketing, equipment, merchandise, preopening operations, research and development, working capital, and any other significant preopening expenses. An example of a preopening budget may be found in the materials listed on the course page for the University of Phoenix student Web site for Week Two named Kudler Opening Budget.
· Develop financial planning goals by illustrating how your venture would be initially funded by using cash on hand, debt, venture capital, or a combination of these. Use a mortgage calculator found on the Internet and calculate your loan payments. Include these expenses in your Operating Budget. Use the information below to help in your calculations:
Building and Construction Estimation* |
|
Remodeling Fees |
$200 per Square Foot |
New Building Construction Fees |
$450 per Square Foot |
*Multiply square footage of small business by fee for estimation. |
Interest Information |
|
10 Year bank Note (Debt) |
7.5% Interest |
5 Year Venture Capital Loan |
15% Interest |
Examples of Profit Split for Venture Capital Partnerships* |
|
Example 1 |
|
Venture Capital Investment 1 |
$300,000 |
Cost to Develop Business 1 |
$1,000,000 |
Venture Capital Profits 1 |
30% of Business Profits |
Example 2 |
|
Venture Capital Investment 2 |
$500,000 |
Cost to Develop Business 2 |
$2,000,000 |
Venture Capital Profits 2 |
25% of Business Profits |
*Profit split is commensurate with the ratio of investment. |
Post your assignment as a Microsoft® Word attachment.
�APA papers require a heading and a standard format. See the Center for Writing Excellence (CWE) for guidance and examples.
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�Here you are combining the introduction with resources.
�Papers should have an introduction, discussion & conclusion sections. Titles (and subtitles) for each one help the reader understand the important focal points.
Your introduction should tell the reader what to expect when reading the discussion section of your paper. In other words, explain the purpose of the paper.
�
Always use subtitles to highlight the new topic being discussed. Makes it easier to read as the reader can identify the topic being focused on.
�Will that be required to start with?
�Good point, so how are you different?
�So this is commercial, not residential?
�Need special licenses for disposal.
�Start new Paragraph. A paragraph. should be about 5-6 sentences (or when changing subject) for easier reading.
�Interesting observation