Answered step-by-stepCome up with a short business plan for the following two...
Come up with a short business plan for the following two businesses: a flower shop and a tech company. Consider the differences between them and what unique needs each may have when compared to the other. Come up with a list of challenges that each business may face and think about what unique circumstances might affect both businesses.
If you don't know much about these two businesses, feel free to start with the details provided below and fill in the blanks with a little research.
Business 1: Carnation Flowers
- family-run flower shop active since 1995
- six employees, all full- or part-time employed, three of them students
- relies on local orders, supplies several funeral homes, advertises by word-of-mouth
- weekly flower deliveries are stored in a local greenhouse from which the shop is stocked
- directly competes with one other flower shop and indirectly with several supermarkets that also stock flowers
Business 2: SmartLock IT services
- successful IT start-up active since 2016
- all full-time employees, 35 in number, plus several unpaid interns
- company is based in a shared office environment
- provides online and remote services
- clients all over the world, offers competitive pricing to set itself apart from competitors
- active in a very competitive and quickly changing market that heavily relies on using the newest technology
Make sure to review the business plan format in the unit to make sure you include all of the parts of a business plan. Each business plan for each business should be long.
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