BUSINESS PLAN

Business Plan



Writing a Business Plan

Introduction

Far Horizon is a firm with many aspects of business. This is because of its current restaurant called Watcher Restaurant, a bar/lounge known as Idle Hour Bar/Lounge and the underway plans of putting up a multipurpose convention center to be known as 26 West Multi-purpose Convention Center. After making sure that the above plans have all been achieved, they later want to set up a 100-unit motel and a convenience store. This simply shows how well laid Far Horizon's plans are. The management personnel are also seen to be quite experienced in their respective fields.

The forms of business organization that would be recommendable for the owner for this business would be as discussed herein. Firstly, it would be good to make it clear that sole proprietorship should be out of the question. This is because a sole proprietor business is that which is owned by one person who is solely responsible for the related obligations and Far Horizon seems to be beyond what a sole proprietor can do. The other thing that disqualifies it from being a sole proprietor is the complexity of the business. Sole proprietors are known to be very simple such that they can easily fall in the description “one man show” and Far Horizon's nature only allows it to be run by a combined effort of skilled personnel hence cannot be a sole proprietor business.

The other form of business is partnership. A partnership is formed by an agreement made by a minimum of two people who bring their resources together to achieve a common goal. The rules of the game are to share everything related to the business equally. This includes the profits, losses and other things. The agreement made in a partnership should be done in presence of a lawyer. His role is to witness and therefore guide the parties in their agreement. This form of business can be divided into two types namely; general and limited partnership. The difference between the two is that in general partnership, all members are equally liable incase of a loss while in limited, the unlimited partners get to bear a loss more just as they share higher profits. So the limited only suffer loss to a certain extent. Far Horizon would therefore consider operating as a partnership but the other forms of business organization should be considered for an optimal solution.

A business plan can provide the owner-manager or prospective owner-manager of a small manufacturing firm with a pathway to profit. This publication is designed to help an owner-manager draw up a business plan.

Launch Plan

In 2011, government funded research projects will purchase a total of 5,000 Marine leisure supplier units for field testing. These tests will provide scientific data to validate the effectiveness of our Marine leisure supplier product. If any issues arise during the test phase, time will still be available to address and validate these issues before full market roll-out in early to ...