HADM 4445 Developing the Hospitality Entrepreneurship Business Plan
Fall, spring. 3 credits. Elective. Prerequisite: HADM 2243 or equivalent. First preference to Hotel students, others by permission only. May not take HADM 4444 concurrently. J. Quest.
This is a course for students who wish to learn the disciplines involved in developing a business plan for a startup concept in the hospitality industry. The course will concentrate on the construction of business plans for new business concepts, focusing on all elements of the entrepreneurship discipline: identifying and validating a new business opportunity, and then organizing, constructing, and writing a sound, clear, concise business plan that will include the feasibility phases as well as determining the required resources, acquiring the necessary resources, structure for implementation and management, and strategy for harvesting the venture. Students will be introduced to actual business plans associated with successful capital raising, as well as a review of real-life examples of the process of raising money, furnished by the instructor and other sources. During the course, attention will be given to the disciplines of setting priorities; establishing operational budgets; and developing financial projections resulting from these budgets. This will include a projection for capital needed for startup. Upon completion of the construction of the business plans, the teams will present them to a panel of successful entrepreneurs and professional investors at the close of the course.