Business Plan MBA520B FINAL

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TABLE OF CONTENTS

Executive Summary ...................................................................................................................................................... 3

Company Summary ....................................................................................................................................................... 4

Mission Statement .................................................................................................................................................... 4

The Industry .............................................................................................................................................................. 4

Who & What We Serve ............................................................................................................................................. 5

Goals/Objectives ....................................................................................................................................................... 5

Ownership ................................................................................................................................................................. 5

Situation Analysis .......................................................................................................................................................... 6

Industry Analysis ....................................................................................................................................................... 6

Competitive Analysis ................................................................................................................................................. 7

SWOT Analysis ........................................................................................................................................................ 11

Marketing Planning ..................................................................................................................................................... 12

Marketing Objectives .............................................................................................................................................. 12

Target Market Analysis ........................................................................................................................................... 13

Marketing Mix Strategies ........................................................................................................................................ 14

Implementation and Control .................................................................................................................................. 16

Financial Management Plan ....................................................................................................................................... 17

Income Statement ................................................................................................................................................... 17

Balance Sheet .......................................................................................................................................................... 18

Direct Cash Flow Statements .................................................................................................................................. 19

Notes ....................................................................................................................................................................... 20

Breakeven Analysis ................................................................................................................................................. 21

Management Summary .............................................................................................................................................. 22

Social Responsibility Statement .................................................................................................................................. 22

References .................................................................................................................................................................. 23

Appendix A – Transactions Ledger Reference ............................................................................................................ 24

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EXECUTIVE SUMMARY

The Red Balloon aims to be Northern Colorado's leading retail location for the resale of second hand children's goods,

including apparel, gear and furniture. The Red Balloon is a resale business – buying gently used and premier goods from

consumers – but will also retail select new items that meet its market and mission. The planned launch is with a single

location in 2013.

The Red Balloon will differentiate itself from other competitors by emphasizing highly desired brands and as recent as

possible designs. Additionally, The Red Balloon will emphasize the inherent environmental stewardship aspects of the

resale market and take advantage of all opportunities to not only provide consumers the goods they want, but obtaining

them in a way they can feel good about. The new goods they provide will emphasize this side of the business and offer

consumers a retail location for socially responsible kids items that currently is not available in Northern Colorado.

The opportunity for this business in the Northern Colorado market is ripe for a multitude of reasons:

• Few true competitors in higher quality resale goods

• A market that continues to grow in the Northern Colorado region, strong with both families and upper/middle

income consumers

• Excellent opportunities to reach a wider geographic market than any current competitor

For The Red Balloon's retail location, the initial revenue projection is to approach a half a million dollars by the end of year

3, and continued growth will allow The Red Balloon to exceed this amount in the third year of operation:

REVENUE FORECAST - THE RED BALLOON

Revenue Year 1 Year 2 Year 3

Revenue Generated From Sales Of New Goods $22,500 $52,500 $78,000

Revenue Generated From Sales Of Used Goods $118,500 $302,500 $394,125

Net Revenue $141,000 $355,000 $472,125

In addition to these revenues, complete financial statements are included that demonstrate that execution of the plan will

result in strong cash flows and a solid balance statement in year three.

The leadership team for The Red Balloon consists of Jason & Carey Tracewell. Between them, they encompass a

background in retail management, resale and business infrastructure. They will focus on the successful launch of The Red

Balloon and the management plan includes adding one full time manager with direct experience in this market.

To launch in 2013, The Red Balloon currently seeks to raise initial capital in the amount of $65,000 to defer the costs of

startup and will repay these expenses over the first three years of operation. The leadership team will also provide initial

investment of $65,000 and the business will be operated as an LLC.

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COMPANY SUMMARY

MISSION STATEMENT

The Red Balloon will delight price and environmentally conscious families in Northern Colorado by delivering a valuable,

pleasant and easy outlet for trading in high quality second hand children's goods and clothing, as well as select new goods.

THE INDUSTRY

Sales at retail second-hand, thrift and consignment stores is a growing industry. Over the last 5 years, the industry has

grown over 10% in the United States to be nearly ten billion dollars. Similar growth is seen in the children's clothing

industry in the US:

The Red Balloon will take advantage of the convergence of these two growing markets by dealing in the resale business; we

will purchase quality goods from consumers and resell directly to others. Additionally, The Red Balloon will offer

complimentary resale goods outside of just clothing, such as furniture or toys, to provide consumers with a convenient

location for many of their children's needs.

Finally, The Red Balloon will serve the consumers in a growing and underserved market for this industry: Northern

Colorado. Northern Colorado is continuing to grow and the choices in the retail second-hand segment are limited. We will

seek a location in the Loveland market that is central to Northern Colorado business.

6,000

6,500

7,000

7,500

8,000

8,500

9,000

9,500

10,000

10,500

2007 2008 2009 2010 2011

US Retail Market Size (M$) (1)(2)

Total Resale Store

Sales

Total

Infant/Children's

Clothing Sales

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WHO & WHAT WE SERVE

The Red Balloon will market itself to two key demographics of consumers:

• Price Conscious. Resale businesses can typically be expected to offer gently used or like-new goods at 45 – 55% of

the price of new. For new families under sticker shock and established families used to "bargain hunting",

children's resale is an appealing choice.

• Environmentally Conscious. "Reduce, Reuse, Recycle" is the mantra of the 'green' consumer. With a growing

family, it's difficult or impossible to Reduce, but resale stores offer these consumers the ideal way to Reuse and

Recycle while not sacrificing quality. Additionally, with strong location placement, The Red Balloon can position

itself as another way for these consumers to keep their consumption local and minimize supporting further

imports from the far away countries that typically provide new goods (Far East, Central America).

The target consumer is strongly middle class who are willing to pay for a premium brand good but can not necessarily

afford to do that across the board in all purchases. We will accept and resell goods from well established industry brands,

seeking brands with the "higher end" market perception in order to provide consumers with the best sense of value.

Examples include:

Apparel: Carter's, Osh Kosh, The Children's Place, Ralph Lauren, Gymboree, Nike, etc.

Goods: Baby Jogger, Bugaboo, Britax, Graco, Maclaren, Kelty, etc.

Additionally, select difficult and hard-to-find new goods will be offered that appeal to this market segment. Specifically:

Cloth Diapers & Supplies – overall a less expensive and more environmentally conscious choice not available in

discount or national children's chains (e.g. "Babies 'R Us"). Only offered online or in specialty stores in markets

outside Northern Colorado.

GOALS/OBJECTIVES

It is reported that for the largest franchise business in the resale marketplace, Winmark corporation, the stores average

$500,000 in annual sales.(3)

The Red Balloon aims to achieve this in year 3 at which point the business will investigate

expansion.

OWNERSHIP

The Red Balloon intends to do business as a limited liability corporation (LLC). This will provide ease in reporting and

structure and allowing ownership to focus on startup success. The management team will consist of Jason and Carey

Tracewell, both experienced business persons and consumers in this market themselves.

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COMPETITIVE ANALYSIS

DIRECT COMPETITORS

Once Upon a Child

4519 South College Fort Collins

Summary: The Once Upon a Child location is the only other retail business in the Northern Colorado market that would

draw comparisons to The Red Balloon. Their business is direct competition.

Market Advantages

• Established brand; franchisee of national leader in industry (Winmark Corp.)

• Well established store (unable to determine exact age; employees say "more than 5 years")

• Well run (inviting, well lit, generally friendly, well stocked)

Market Disadvantages

• Poorly located to capture maximum market; location is inconvenient for Loveland/Greeley consumers and in

an area not focused on retail

• Purely "price conscious" model

• Little to no local marketing

Differentiation

• The Red Balloon will seek to have a higher profile in the market through a well executed marketing plan

• The Red Balloon will seek a better location to attract a larger market share

• The Red Balloon will seek to attract not just price conscious consumers

All Things Kids

430 E. Sixth Loveland

Summary: All Things Kids is brand new to the market. It is difficult to gauge their capability and plans. Initial impressions is

that the upside for this business is limited.

Market Advantages

• First to Loveland market


• Brand new player in market (opened March 2012); not well established.

• Exceptionally poor location. The location is a converted residence in a non-retail neighborhood. Total floor

space available for retail is approximately 700 square feet.

• Little to no local marketing

Differentiation


• The Red Balloon will seek a better location to attract a larger market share

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Charities / Charitable Related

Goodwill Of Denver

935 East Eisenhower Loveland

315 Pavilion Lane Fort Collins

1012 11th Street Greeley

ARC

3131 North Garfield Loveland

2401 27th Street Greeley

106 Foothills Parkway Fort Collins

Summary: Goodwill and ARC are the dominant charities in this market (Northern Colorado lacks other major charities such

as Salvation Army). Stores operate by collecting donations from local persons and organizations. "Savers", a retail chain

that purchases donated goods from charities and resells them, has pulled out of the Northern Colorado market.

Market Advantages

• Excellent market penetration by both organizations.

• Recently upgraded locations (<5 years old) in both Loveland and Fort Collins for Goodwill and Loveland for

ARC.

• Support of larger organization / network of Goodwill Denver / ARC National

• Charitable model of donated goods allows them to appeal to the extremes of the price focused consumers


• No specialization in children's goods; not a 'destination' for this market

• Charitable model of donated goods leads to the stock being highly variable in quality and selection

Differentiation


• The Red Balloon will seek to attract a higher and more consistent quality of goods by offering consumers value

for things they would otherwise donate

INDIRECT OR NON-TRADITIONAL COMPETITORS

Seasonal Consignment Sales – Varying Locations

"Just Between Friends"

"Serendipity Sale"

Summary: Organizations such as those above temporarily rent retail space or convention halls for typically a weekend and

then run heavily promoted "children's consignment events". Those wishing to sell goods pay a small fee and some

percentage of sales to the organization and those wishing to buy goods typically pay an entrance fee. In Northern

Colorado, these occur approximately once per quarter in one of the markets (Greeley, Loveland or Fort Collins).

Market Advantages

• Highly visible, heavily promoted events.

• Attracts sellers that believe their goods can attract top dollar.


• Requires sellers to do all of the work themselves of tagging/pricing goods and then selling them.

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• Entrance fees turn off some of the price conscious consumers.

• Sporadic schedule and requires planning ahead on both the part of the seller and buyer.

Differentiation


• The Red Balloon will seek to attract a higher and more consistent quality of goods by offering consumers value

for things they would otherwise donate

Online Services

e.g. thredup.com

Summary: January 2009 saw the launch of 'thredup.com', which allows consumers to mail in their used children's clothing

and be paid (mailing is free of charge via a refund if goods are accepted). They, in turn, photograph and post it in their

online store. They seek premium brands.

Market Advantages

• Ease of doing business for buyers – inherent in the online retail model.

• Ease of doing business for sellers – well thought out policies to make it as pain free as possible.


• Does not deal in any goods but apparel

• The 'rules' have changed several times since startup; inconsistencies for both buyers and sellers. Possibly still

trying to find their 'niche'.

• Buyers must trust the quality of goods without inspection

• Not well established or known

Differentiation

• The Red Balloon provides consumers a more traditional retail experience and allows buyers to inspect

• The Red Balloon allows consumers choices outside of just used apparel.

• The Red Balloon appeals to the 'green' consumer in keeping goods local.

New Discount Retailers

e.g. Wal-mart, Target

Summary: Major discount chains offer new children's goods and apparel at low prices. For the consumer that is simply

price conscious, this is a threat to The Red Balloon.

Market Advantages

• New goods rather than used.

• Unparalleled market penetration and visibility.


• No specialization

• Market perception of brands/quality is poor.

• Market perception is that these embody the non-environmentally sustainable model.

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Differentiation

• The Red Balloon will not directly compete with these firms.

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SWOT ANALYSIS

STRENGTHS (INTERNAL)

• The management team has previous experience in the second hand retail goods industry (i.e. pawn shops and

charitable resale) allowing it to understand the dynamics of the market.

• The Red Balloon has a strong understanding of the target consumer and marketing that will appeal to them.

• The Red Balloon has the ability to source unique brands in new goods and potential to be the sole local supplier.

WEAKNESS (INTERNAL)

• Currently, the management team of The Red Balloon has no retail experience directly with children's apparel or

goods.

OPPORTUNITIES (EXTERNAL)

• The proposed market, Northern Colorado, is growing significantly in population and meets the ideal demographics

for The Red Balloon.

• Significant opportunities exist to place the store in high traffic areas for the target consumer. Retail space that is

both central to the region and near existing outlets for new children's goods (Carter's, Osh Kosh, Babies 'R Us) is

plentiful.

• Proper marketing that addresses consumer desires could expand the market.

THREATS (EXTERNAL)

• Charities as competitors and whose presence is strong in the target region, are able to source goods and labor for

exceptionally little or no cost and presents a challenge to pricing goods.

• Online sources are applying pressure to the traditional retail market

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MARKETING PLANNING

MARKETING OBJECTIVES

The marketing activities will drive The Red Balloon's single location to exceed the goal of matching the industry leader's

$500,000 in revenue per store. This will be reached in the third year after opening for business.

REVENUE FORECAST - THE RED BALLOON

Revenue Year 1 Year 2 Year 3

Revenue Generated From Sales Of New Goods $22,500 $52,500 $78,000

Revenue Generated From Sales Of Used Goods $118,500 $302,500 $394,125

Net Revenue $141,000 $355,000 $472,125

CUSTOMER RETENTION AND REPEAT BUSINESS

The retail second hand business is unique in that the customers are also the suppliers; this requires a delicate balance in

how the customers use the store. It also, though, provides a wealth of information on how the customers use the store on

their account; receipt and purchase transactions can easily be tracked. We want to be one of the first choices in their mind

not only as they look to get rid of unneeded items, but as they need new items; transactional frequency can easily be

measured to these goals:

Category

End Year 1 End Year 2 End Year 3

A Time Between Transactions < 3 Months 15% 25% 33%

B Time Between Transactions < 6 Months 15% 25% 32%

C Time Between Transactions < 12 Months 70% 25% 10%

D Time Between Transactions > 12 Months N/A 25% 25%

Most consumer resale is due to emotional and social motivations, not to making a profit. Avoiding waste,

environmental protection, socializing, achievement and entertainment are all emotional motivations for

reselling. Thus, consumer resale need not involve sophisticated profit-and-loss calculations. (6)

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The Red Balloon will initially have to keep marketing budgets fixed though expects to adjust this to some percentage of

sales based on growth.

PLACE CONSIDERATIONS

As discussed in the competitive landscape, the only community with a natural competitor is Fort Collins ("Once Upon a

Child") but it is difficult to reach for much of Northern Colorado.

Loveland's Centerra neighborhood has, over the past decade, provided a retail space located on the I-25 corridor to reach

the larger Northern Colorado market and will be the location sought for retail space.

Additionally, this location has three large national retailers of new children's apparel (Carter's, Osh Kosh and Gymboree)

and another (Babies 'R Us) within 10 minute drive. The traffic in the target market that these businesses already generate

should be beneficial.

PRICING CONSIDERATIONS/POLICIES

Resale is unique in that the price for the good is closely tied to the customer's perceived value of the new good. Stores in

the resale business (pawn, consignment, thrift, etc.) realize pricing at approximately 25% to 50% of the value of new goods

depending on the condition and desirability of the item.

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IMPLEMENTATION AND CONTROL

TIMELINE

The business will be launched over a six month time period with the following milestones. The business will open to the

public and begin generating revenue in month 7, with the first operational year being months 7 through 18 inclusive.

-240 Days (M-1)

• Funding applications filed

• Articles of organization filed

-180 Days (M1)

• Application for business license submitted

• IRS employer identification application submitted

• Establish bank account

-150 Days (M2)

• Begin building inventories

-90 Days (M4)

• Finalize distribution agreements for any new goods selected

• Finalize lease agreements

• Establish merchant accounts for payment methods

-60 Days (M5)

• Finalize infrastructure for inventory management, financial management and web presence

• Place advertisements for employees and begin hiring process

• Acquire equipment for store (racks, counters, etc.)

• Begin executing select marketing plan components (join associations and arrange community sponsorships)

-30 Days (M6)

• Public listings complete (web, phone, etc.)

• Execute physical setup of store

• Training & scheduling finalized

• Signage and other "initial awareness" activities announcing store location and grand opening

Day 1 (M7)

• Grand Opening

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FINANCIAL MANAGEMENT PLAN

The expected three year financial performance is shown below with a projected income statement, balance sheets and

direct cash flows. With the timeline shown previously, there is a 6 month startup period. The revenue generated from

sales meets the stated goal of $500,000 in year three after opening (months 30 through 42).

Income Statement

Income Statements - Operating Years One through Three

Year 1 Year 2 Year 3

Revenue Revenue Generated From Sales Of New Goods $ 22,500 $ 52,500 $ 78,000

Revenue Generated From Sales Of Used Goods $ 118,500 $ 302,500 $ 394,125

Net Revenue $ 141,000 $ 355,000 $ 472,125

Expenses Cost of Goods Sold $ 68,250 $ 172,250 $ 228,263

Wages And Benefits $ 93,340 $ 126,606 $ 135,593

Marketing

Startup Related $ 4,000

Normal $ 1,800 $ 4,800 $ 6,000

General Expenses

Startup Related $ 9,550 $ - $ -

Normal $ 17,542 $ 29,622 $ 34,422

Loan Interest $ 4,167 $ 2,965 $ 1,182

Depreciation Expenses $ 204 $ 350 $ 700

Taxes

$ 4,000 $ 13,400

Net Expenses $ 198,853 $ 340,593 $ 419,560

Net Income $ (57,853) $ 14,407 $ 52,565

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Balance Sheet

Balance Sheets - Year One through Three End of Year 1

Assets

Liabilities Cash $ 29,062 Notes Payable $ 46,761

AR $ 17,625 Accounts Payable $ 8,200

Inventory $ 12,125 Total Liabilities $ 54,961

Total Current Assets $ 58,812

Equipment $ 3,296 Owner's Equity

Paid In Capital $ 65,000

Retained Earnings $ (57,853)

Total Owner's Equity $ 7,147

Total Assets $ 62,108

Total Liabilities & Owner's Equity $ 62,108

End of Year 2 Assets

Liabilities Cash $ 12,889

Notes Payable $ 29,284

AR $ 25,500

Accounts Payable $ 10,622

Inventory $ 16,625

Total Liabilities $ 39,906


Equipment $ 6,446

Owner's Equity


Retained Earnings $ (43,446)




End of Year 3 Assets Liabilities

Cash $ 42,553 Notes Payable $ 15,437

AR $ 32,588 Accounts Payable $ 12,656

Inventory $ 21,325 Total Liabilities $ 28,093


Equipment $ 5,746 Owner's Equity


Retained Earnings $ 9,119




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Direct Cash Flow Statements

Direct Cash Flows - Operating Years One through Three

Year 1 Year 2 Year 3

Cash Flow - Operating Activities Cash Received From Customers $ 125,666 $ 352,894 $ 472,710

Cash Paid to Suppliers $ (80,417) $ (180,772) $ (237,835)

Employee Compensation $ (86,640) $ (124,684) $ (134,759)

Other Operating Expenses $ (31,350) $ (29,900) $ (34,350)

Interest Paid $ (4,167) $ (2,965) $ (1,182)

Taxes Paid $ (2,291) $ (5,769) $ (11,672)

Net Cash From Operating Activities $ (79,199) $ 8,804 $ 52,912

Cash Flow - Investing Activities Equipment Investment $ (3,500) $ (3,500) $ -

Net Cash From Investing Activities $ (3,500) $ (3,500) $ -

Cash Flow - Financing Activities Long Term Borrowing $ 65,000 $ - $ -

Investment By Leadership Team $ 65,000 $ - $ -

Payment of Long Term Borrowing $ (18,239) $ (21,478) $ (23,247)

Net Cash From Financing Activities $ 111,761 $ (21,478) $ (23,247)

Increase / (Decrease) In Cash $ 29,062 $ (16,174) $ 29,665

Previous Cash Balance $ - $ 29,062 $ 12,888

Cash On Hand End Of Period $ 29,062 $ 12,888 $ 42,553

Reconciliation of Net Income and Net Cash Provided By Operating Activities

Net Income $ (57,853) $ 14,407 $ 52,565

Add (Deduct) Items Not Affecting Cash

Change in Accounts Receivables $ (17,625) $ (7,875) $ (7,088)

Depreciation Expense $ 204 $ 350 $ 700

Change in Inventories $ (12,125) $ (4,500) $ (4,700)

Change in Accounts Payable/Liabilities $ 8,200 $ 6,422 $ 11,435

Net Cash From Operating Activities $ (79,199) $ 8,804 $ 52,912

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Notes Regarding Financial Statements

A full listing of transactions used as the basis for these financial statements is available in Appendix A. The major

assumptions used in creating these transactions include:

• Initial funding for the business is $130,000. Half of this will be provided by the management team. The other half

will be financed at 8% and paid back over 36 months.

• The assets of the business are primarily the retail fixtures; they are depreciated straight line over a 10 year basis.

• Cash revenue will be 25% of the revenue. Credit card revenue will be the remaining 75% and incurs a 1.75%

expense.

• The price paid for used goods is 50% of the retail value. New goods is 40% and is purchased at 30 days net from

the supplier on a monthly basis. The mix of sales between new and used goods is approximately 85/15.

• Wages include both staff and managers. The store will be open 50 hours per week. Staff is initially paid

$8.00/hour and raises in wages are included. Managers are salaried initially at $60,000/year and raises are

included. The benefits are assumed to be 30% of the direct wages.

• Taxes on the LLC are estimated at 20% of net revenues, with no tax in year 1 due to net loss.

• Retail leasing values were based on average classified listings in the target market and other values were based

primarily on research of other retail consignment stores.8

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Breakeven Analysis

The breakeven analysis is based on the same transaction assumptions as the financial statements. In this analysis, the

variable costs are the actual markup the business is able to achieve as well as the credit card fees. All other costs are

considered fixed.

Three Year Fixed Costs:

$ 460,707

Three YearProjected Revenues:

$ 968,125

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

Co

sts

Revnue

Revenue Cost

Three Year Breakeven Point

$905,775

93% of Projected Revenues

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MANAGEMENT SUMMARY

The management team of The Red Balloon consists of Jason and Carey Tracewell.

The team combines knowledge and experience in retail businesses with exposure to resale (pawn) but is new to the

children's goods market. To offset this, the business plan includes staffing with a manager and clerks and direct experience

with this market will be sought when staffing.

The daily operations of the store will be primarily managed by this team, though an additional assistant manager will be

necessary to meet a schedule that allows 7 days a week, 60 hours.

All infrastructure/IT (inventory systems and tracking, payroll, sales tracking, etc.) can be provided by this management team

as Jason's professional background is in IT manufacturing/enterprise systems.

Payroll and bookkeeping will be outsourced to Sangre Solutions, LLC for little cost as this LLC is within the Tracewell family.

Outsourcing these functions will allow Jason and Carey to focus on the operational aspects of The Red Balloon.

Staffing will initially consist of 1 manager/assistant manager and an average of 1.5 retail clerks for each shift.

SOCIAL RESPONSIBILITY STATEMENT

Mindful consumption is at the core of the mission for The Red Balloon and reflects our community's commitment to

environmental sustainability as their families grow. Our core resale business makes us partners with our customers in

reducing wastefulness, acting locally and building a more sustainable family. We aim to take this mission beyond our day-

to-day business, partnering with likeminded organizations and businesses in the community to support sustainable

methods.

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REFERENCES

1) Barnes Reports. U.S. Used Merchandise Stores Industry (NAICS 45331) Bath, ME: C. Barnes & Co. 2010.

2) Barnes Reports. Children's & Infants' Clothing Stores Industry (NAICS 44813) Bath, ME: C. Barnes & Co. 2010.

3) Miller, Richard and Washington, Kelli. The Retail Business Market Research Handbook 2010. New York. Richard K

Miller & Associates. 2010.

4) Mirimanian , E. (2010). IBISWorld Industry Report 44813 – "Dressing up: Times have been tough for the industry,

but conditions are set to improve". January 2010.

5) Lino, Mark. 2008. Expenditures on Children by Families, 2007. U.S. Department of Agriculture, Center for Nutrition

Policy and Promotion. Miscellaneous Publication No. 1528-2007.

6) Hsunchi C., Shuling L. Consumers As Resellers In Online Secondary Markets: Taxonomy And Motivations.

American Marketing Association. Winter 2009.

7) U.S. Census Bureau. (2010 January). American Fact Finder: Households and Families: 2010 - Congressional District

4 (111th Congress), Colorado. Retrieved June 2, 2012 from http://quickfacts.census.gov.

8) Dahl, Darren. The Cost of Starting Up a Retail Shop. Inc. Magazine. 8-August-2011.

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APPENDIX A – TRANSACTIONS LEDGER REFERENCE

MS Excel Ledger

Printed copies of this plan may access the electronic ledger at this address:

https://docs.google.com/open?id=0B7v5jqtNOQyiTE5ETDE5R2JFelk

Business Plan MBA520B FINAL

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