Business

Answer A.
The importance of a business plan in this situation is that a business is created to explain and illustrate the vision you have for your business and to persuade others to help you out in your business. The business plan helps convince that the business concept can be successful and that you possess the expertise alone or collectively that the business would be successful and profitable. It is worth the effort as the business plan   helps pave way for future expansion of the business.

Answer B.
The primary readers of the business plan would be the Resort Maps Inc. the interest and focus of this company would be so check the credibility of the plan, its ability to generate profits as they would be seeking loyalties from the amount of the sale, how would  the business act when its facing a downhill situation.
     
Answer C.
The documents that will be produced in the business plan would be the financial statements, the contract documents with the franchisee, promotional literature for the business, references, all the insurance policies, letters of intent from the suppliers, contracts, etc. These documents would prove helpful as they would protect Sue and Mark in legal proceedings, promoting their business and getting the assurance from their suppliers and customers.

Answer  D.
The information they Mark and Sue would need would be the type of resorts in  that area, they type of maps needed in that area , an approximate of how many people demand maps , the different time schedules , the locations of the racks to place the maps on. They can get this information by doing a survey themselves and looking out for interested people or hire a firm that does surveys.  The relevant information would be available from the people in that location, the resort owners etc.

Answer E.
The expenses they are going to incur in this business is the marketing expenses, paying of the loyalties , paying for the racks that will carry the maps , they have to pay the ski resort owners some commission so that people choose their maps. They can forecast expenses by going through the historical data of other people who are in the same business, hire a small marketing agency that can give them an estimate of how much they have to spend on marketing expenses.

Answer F.
The time period I would recommend for the business planning forecast would be the holiday season in winters. The ski resort in Colorado would receive maximum number of tourists during this time period and the business plan should be forecasting figures for this time period as this would be the peak time for sales and revenues   .

Answer G.
This sounds like a sure thing to me. They are starting their business operation in an area that promises a good return on their investment. They would become independent. They would have a very comfortable life in that area and wouldnt have to worry about their finances.

Answer H
The things that might be going in Marks head at this moment would be that is that would opening a business be worth it. He is a quitting high paying job that promises a steady income, he is risking his income. Apart from a risk of income, Mark lacks entrepreneurial experience and he might be unaware of the business techniques a person should follow. Thirdly, he is reluctant to take any loan and is completely relying on his saving. Thus his entire savings are at stake.

Mark must also he analyzing the reasons of Sues successful business venture. Since her business of similar to Marks, he might be thinking of learning new ideas form her. Also he has realized that a single person cannot manage the entire franchise therefore he is willing to partner with Sue.

With so many risks, Mark is still willing to start this venture because of the potential high profits which are associated with Resort Maps. Obviously he must be evaluating the costs and benefits of the business and his decision to start this business shows that the profit he will make is far more than the associated risks.