Title: Develop a business plan.
Course: Floriculture (18052-II) > Section: Understanding Marketing and Business Management

Development should include

- investigating the advantages and disadvantages of sole proprietorships, partnerships, and corporations
- developing and analyzing a market survey
- investigating sources of capital
- analyzing an organizational plan
- researching laws and regulations
- researching methods for advertising
- creating financial records, to include a balance sheet, cash flow statement, profit and loss statement, and inventory report
- identifying the break-even point and determining the profit margin
- demonstrating appropriate forms of business communication, to include business letters, phone calls, and emails.

Process/Skill Questions:

- What is a business plan?
- Why is a business plan important?
- Why should business goals be flexible? Why or why not?
- What volume must be sold to make a profit?
- What are five basic functions performed in the operation of a small business?
- Why is it critical to create simulations and financial documents prior to starting a business?