Your assignment is to conduct a feasibility study to begin developing a plan for a new business. Your study will help you forecast the potential for success of the business. This study will become part of your business plan which you will use to justify your proposal to lenders.
See the templates below for the structure and format of a business plan, as well as elements to include.
- Hort 1130 Feasibility Assignment Template (also available on BlackBoard)
- Business Plan Template from Gale Business Entrepreneurship
Elements of a Business plan
A basic business plan includes the following elements
- Name and Type of Business [Gale Business, IBIS World]
- Description of Product/Service [Gale Business, IBIS World]
- Business History & Development
- Location [Reference Solutions]
- Market Analysis [Mintel]
- Competition [Reference Solutions]
- Management [Gale Business]
- Financial Information
- Business Strengths & Weaknesses
- Business Growth
Example Business Plans
These business plans and many more are available in Gale Business: Entrepreneurship below. These plans are from real U.S. companies.
Landscaping Service: G & D Landscaping
Florist: The Perfect Bloom, Inc.
Nursery: Wonderland Nursery
Organic Grower & Supplier (hydroponic nursery): Great Lakes Organics
Information Resources
- Gale Business: EntrepreneurshipGale Business: Entrepreneurship covers all major areas of starting and operating a business: financing, management, marketing, human resources, franchising, accounting, taxes and more.
- IBISWorldReports on industries. Provides an overview of industries. Includes a definition, the industry supply chain, main activities, and similar/related industries. Also includes helpful details like jargon used in the industry and a glossary.
- Reference SolutionsReference Solutions (formerly ReferenceUSA) is the yellow pages on steroids! Use Reference Solutions to find competing companies in your geographic area. It is also a great tool for job-searchers. Provides U.S. company information searchable by name, address, ZIP code, SIC code, and yellow page directory listing. Allows 300 prints or downloads per search.
- MintelMintel provides market intelligence reports for a broad range of industries and consumer product categories.
- Business Source CompleteBusiness Source Complete provides access to content and indexing for 1,300 journals. It covers all disciplines of business, including marketing, management, MIS, POM, accounting, finance and economics. Additional full-text, non-journal content includes financial data, books, monographs, major reference works, conference proceedings, case studies, investment research reports, industry reports, market research reports, country reports, company profiles, SWOT analyses. BSC also contains the Regional Business News which provides comprehensive full text for regional US and Canadian business publications (including titles from Crain Communications). Regional Business News has full text for more than 80 sources.
- Mergent Intellect
Mergent Intellect is a flexible web-based application that offers access to business data, industry news, facts and figures, executive contact information, and industry profiles for private and public U.S. and international companies.
- Illinois Department of Commerce & Economic Opportunity (DCEO)This very useful collection of publications and guides will help you develop a small business plan and provides information on business in Illinois. Especially helpful: Step-by-Step Business Plan Workbook
- SBDC NetThis site is the national information clearinghouse of the U.S. Small Business Administration and state agencies that are part of the SBA network. Includes information on all aspects of starting and running a small business. Includes market research information, industry information, and much more.
- Data USAData USA puts public US Government data in your hands. A comprehensive website and visualization engine of public US Government data.
- Caritas ZIP Code LookupClaritas’ lifestyle segmentation systems define every household in the U.S. by distinct lifestyle types, called “segments”, to provide you with a comprehensive picture of who lives where and what they are like. Marketers use these insights to create more effective and efficient marketing strategies. MyBestSegments ZIP Code Look-up lets you view your neighborhood’s household segments within any ZIP Code. Typically, a ZIP Code has over a dozen segments present, but to view your neighborhood’s top five segments, along with a descriptive snapshot about each segment’s characteristics for any Claritas segmentation system, simply enter your 5-digit ZIP Code.
- LinkedIn LearningLIL is a great resource for a variety of business topics, including business plans, and also has a ton of video tutorials on software used by horticulturalists and landscape designers. Create an account using your dupage.edu email.
- WGSNWGSN is a market intelligence tool. It examines current and future trends in a variety of design and creative industries. This rich resource includes trend forecasting reports, trade show reports, examinations of consumer behaviors, merchandising advice, and much more. Horticulture students should take a look at the following section: Lifestyle & Interiors>Interiors>Garden & Outdoor.
