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A new business plan

Our group are plan to open a new business in Michigan area. the business model is pretty much similar like UberEATS and Yelp EAT24.

Please plan a new business based on local income levels, the main competitor,etc. (SWOT analysis)

Report guide

Characteristics of the customers

a. Who are the target customers of the product or service in the market you will serve?

(be as specific as possible; generally “everybody who wants…” is not a good description; provide characteristics of the people who would be most interested in your offerings; those who potentially could be your repeated clients in case your offer lends itself for a repeated purchase)

Using your industry analysis estimate the number of this group in the market you will serve.

b. The unique selling propositions of your product or service (how is your business idea different/ better from what is currently available to the customers).

Business model validation

c. How did you validate the need for your product or service? Provide specifics on what you did, what you have found out and how it would impact your future work on your business model.

-surveys, interviews & focus groups (examples for questions will be provided)

-tests (landing pages, etc., tracking click activity, fake ads)

Financial plan

1. Fill out the Pro-Forma Income Statement excel spreadsheet month-by-month for the first 2 years, as well as present the overall numbers for the first 5 years of the business operations. Please submit both of these files attached to your financial plan write-up.