Title: Evaluate a business plan.
Course: Greenhouse Plant Production and Management (18052-III) > Section: Understanding Marketing and Business Management

Evaluation should include

- identifying the components of a business plan
- analyzing the realistic expectations of the plan
- 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
- estimating profits and growth over a duration of time
- creating a contingency plan.

Process/Skill Questions:

- What are ways to raise funding for the proposed budget in the business plan?
- What other concerns, beyond the business plan, should new small-business owners consider?
- How is return on investment calculated?
- How is the profit margin determined?
- What types of insurance should be considered for this business?