Business plans are important because you can plan out what you’re going to do before hand and that way things will go more smoothly in the long run.
Collaboration is a win-win situation.
Synergy- 1+1=3 (you’ll always get more done working with someone else, then you will working by yourself)
What jobs need to be done in our business?
- buying the supplies
- advertising
- talking to potential customers
- splitting the profit up evenly
- keeping the money in a safe place
- giving the product to the customer
- taking the order from the customer
Business
- Accounting
- Collecting money
- Operations-make sure stuff gets done
- Staff
What we need to do
- buy stuff wanted by the customers
- sell the customer what they wanted
- make sure that the customer paid and that we collected it
- keep track of expenses and income
- keep track of what we paid for and what the customers paid for
Marketing
- Platform-how and where people buy
- Promotion-flyers, ads, websites, and referrals
What we need to do
- make flyers and hang them up
- spread the word around our neighborhoods
- figure out where teenage boys spend the most free time
- ask the boys to spread the word about our business
- figure out how to catch their attention and convince them that they want to buy stuff
Service
- Product planning
- Getting the product or service done or delivered
What we need to do
- if the customer is not happy, then we will make it so they are
- give the customer an allotted amount of time in which we will deliver the product
Who Is Going To Do What?
- John-buy wanted product, keep money safe, split profit evenly.
- Ryan-make sure everything gets done, find place w/ lots of teenagers, get referrals.
- Me-keep track of expenses/income, make flyers.
- Everyone-converse w/ potential customers, sell product to customer, ensure product is in good condition, deliver product to customer in timely manner, ensure customer is satisfied.
What % of Ownership Should Each Person Get?
- We will split up the ownership equally (everyone gets 1/3)
Partnership Agreement
Partners
John, Kelsey, and Ryan. These partners agree to collaborate in good faith on a mutually beneficial project known as Carz.
Overview
We will be selling car fresheners, window stickers, and key chains to 116-18 year old boys in high school. We expect that we will have a couple of customers who would like to buy stuff for their car to make their cars more enjoyable.
Revenue Sharing
Net income for the project will be split on the basis of 1/3%. 33% to John, 33% to Kelsey, and 33% to Ryan. All minor costs associated with the project will be deducted prior to calculating net income. If any particular cost exceeds $10, a majority of the partners must approve the decision.
Life of Revenue-Sharing Agreement
The revenue-sharing agreement will last for a month, at the end of which the partners will decide if it should be continued, discontinued, or revised.
Publication and Sale
The project will be offered for sale on [websites and any other sources]. Customer Support: John will be responsible for buying wanted product, keep money safe, split profit evenly. Kelsey will be responsible for keeping track of expenses/income, and making flyers. Ryan will be responsible for making sure everything gets done, finding a place w/ lots of teenagers, and getting referrals. Project feedback from customers will be shared between both parties.
Marketing
Both parties will actively market the project to ensure its success. This will include promotion on [websites], through each partner’s online community and offline networks, and each party requesting coverage of the project from other influential websites.
Time Line
The partners agree to complete all aspects of the project to prepare for launch on [date].
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