Social Netorking Site Business Plan | Sample Business Plan

Social Networking Site
Sample Business Plan

(page 5)

 


Management & Organization

 

Luke Blackburn – Founder and President                 

 

Luke is graduated from Southern Illinois University in May of 2009. He majored in business administration with a focus in entrepreneurship. He has experience in entrepreneurship from mentoring with a self-made millionaire entrepreneur for two years in college. He has several domestic and international business contacts.

 

Schedule of Activities                                                           

 

Choose Web Design Firm                                           June 31, 2009

Secure Funds for Business                                          June 31, 2009

Determine Project Deadlines & Goals                       
July 7, 2009

Design Firm Progress Review to President                September 1, 2009

Beta Launch                                                               
November 1, 2009

Full Site Launch                                                          December 1, 2009

Critical Risks & Problems

 

The main risk or concern that TheHopeFarm management team is struggling with is the question of how much ownership are they willing to give up if they have used all of their resources and still need work done to the website? Many start up companies struggle with this and it is a good idea to know what the limit is before you get involved in a big project.

 

Financial Plan

 

It is extremely difficult to forecast and predict expenditures and profits in web-based companies. The revenue will depend on how many users we attract to the site. The site could shoot off like a rocket or it could fizzle out a few months into its life. The funds of this business venture are going to come from private foundation grants. We are still very hopeful that we will be approved for the grants. The grants totaled $25,000.00. That amount would cover all of the first year expenses including the construction of the physical website. Due to the fact this business is web based, there would be very low operating expenses. In the first few months of the business the office will be out of Luke Blackburn’s home. There is no overhead because we are not selling a physical product.

 


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