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Business Goals
Short Term Goal (1 year): – Have a total of at least 500 students’ attendance at biweekly workshops – Have actually helped 50 businesses start up – Reach a revenue of $30,000 including advertisement from local companies and successful entrepreneur businesses Mid Term Goals (5 years): – Annual total attendance of biweekly workshops at 1000 [...]
Business Description
The business name is BCIT Student Ventures. We look to help BCIT students or recent graduates with the entrepreneur spirit in workshops to: -education in entrepreneurship -fleshing out ideas -market research -startup funds
Business Model
BCIT Student Ventures will make money through successful student ventures by taking a 10% cut of their yearly income through their entrepreneur business or a $1000 annual fee whichever is lower. We will also seek advertisement from local businesses such as Staples, Grand & Toy, and Future Shop for students to use their products in [...]
Marketing Plan
Free biweekly workshops teaching the basics of entrepreneurship from either instructors with a passion for helping others start out or by an alumni who has done well in the business world with their ideas. Advertise in The Link which is BCIT’s monthly student newspaper. Make sure introduction to the service on the day of orientation [...]
Competitors
Vancouver Entrepreneur Organization EO Vancouver promotes the personal and professional growth of its diverse young entrepreneurial members through a varied calendar of high quality educational events combined with a vibrant, meaningful forum experience. Vancouver Entrepreneurs Toastmaster Club Located in Vancouver in beautiful British Columbia, Canada, the Vancouver Entrepreneurs Toastmaster Club caters to our local entrepreneural [...]
Ownership Structure
The business will be a partnership between BCIT and myself. I will receive a yearly base salary of $25,000, with 30% of profits going to myself and the rest goes to BCIT. BCIT will provide 80% of the resources in starting the business while I am the main contributor in terms of workload and implementation [...]
Financial Plan
Startup Costs Startup Costs Owner’s Salary $ 25,000 Employee’s $ 5,000 Office Furniture Office Desk(2) $ 1,000 Office Chair(4) $ 400 Filing Cabinet(2) $ 500 Computer(2) $ 1,500 Printer/Scanner/Fax $ 500 Small Business Owner Insurance $ 1,000 Telephone Line $ 50 Cellphone Charge(1) $ 50 Supplies $ 100 Legal Fees $ 90 Tax $ 400 [...]
Implementation Plan
After completion of the initial business plan and having a trusted colleague or instructor read through and ensure everything is in order, a meeting with both the BCITSA and BCIT Board of Governors. I will deliver the elevator pitch making note of the importance of encouraging the entrepreneur spirit and guiding them would be another [...]
Introduction
This website is created for an exam question for BCIT‘s OPMT4438 Final. In BCIT’s Operations Management program, we took the OPMT4438 course and learned to create our own e-portfolio, how having a personal business can save us tax money, the importance of having intellectual property in our personal business, and what is critical to being [...]