Business Name(Tag Line – Grab the ATTENTION)

What would I like to buy that I can never find?What product or service would improve my life?What really annoys me? What product or service

would help?

Entrepreneur’s Name

Grade

Age

Business Profile• Explain your business and why you selected it (MIN of 5

Sentences) You are OUTLING the business! Give the Judges / Bankers a preview of the Business Plan! Peak their interest!

• WHY did you selected this business? • Type of Business:

– Service, Manufacturing – How will you satisfy a consumer need?

• What will you PROVIDE to the consumer? WHY is your product / service needed in the world?

• Legal Structure:– Sole Proprietorship, Limited Liability Company (Use the

Internet to research the different legal structures)– Why did you select this legal structure?– Limited Liability allows the owner to have full control over the

business and profits without total personal asset liability.

1

The Opportunity • Opportunity – When others SEE problems,

Entrepreneurs RECOGNIZE opportunities. – List 3 ways your business fulfills a consumer

need/solves a problem• Think WHO? WHEN? WHY?

• Qualifications– List 3 reasons why you are qualified to run this

business (personalize)• Ex: Experience, Education, Courses, Background

2

Consumer Profile – Insert Name of Consumer

Think of WHO will purchase your service or product.. • By Location

– The LOCATION of your consumer. Where do your customers live, work, go to school, or shop?

• By Population– [The age, gender, occupation, and education of your

customers]• By Personality

– [The general personality, lifestyle, sports, hobbies & other fee time activities, music preferences, etc

– Write about your CONSUMERS Personality• By Behavior

– [Purchasing patterns and buying behavior • What brand preferences?• Does he/she always shop at the same store, do they have

brand loyalty• Looking for a deal? Buy the BEST?

• By Income– [Economic factors such as household income, family

composition and size, and purchasing behavior (impulsive cash or cautious credit card purchases). ]

Photo of a consumer

3

Personalize YOUR Consumer! Give

him/ her a name!

Competition

Competitive AdvantageList 2 reasons why customers will purchase your product or service over your competitor’s.

Ex: Quality, Location, Selection, Service, Speed / Turnaround / Price (Review the next slide for examples of competitive advantage)

Competitor Price Quality Greatest Strength

Greatest Weakness

YOUR BUSINESS $

[ex. Local seller] $

[ex. National chain] $

4

Go beyond LOWEST

PRICE

Example of Competitive Advantage

• Quality – Can you provide higher quality then competing businesses?

• Location – Can you find a more convenient location for customers?

• Selection – Can you provide a wider range of choices?

• Service – Can you provide better, more personalized customer service.

• Speed / Turnaround – Can you deliver your product or service more quickly than the competition?

• Price – Can you offer a lower price than your competition?

Marketing Mix

• Product: – What is the product?– Describe the product (packaging) (size) (time)

(quantity)– Explain the benefits and features of product

• Place: – Where?– Why did you chose this place?– Benefits of the Place? – Availability?

5

Marketing Mix

• Price: – What is the Price? (How is one unit defined?) – Explain why you chose your price– Tip: “Price should also reflect your business vision.”

• Promotion:– Advertising, Publicity and Promotional Items– What promotional materials will you use?– How will these materials benefit your business?– Remember: $250 TOTAL start up budget

My Marketing Plan Phase Method Description Cost

Awareness What tactics will you use to get consumers to know you exist?Flyers, Ad’s, Business Cards, Posters, Press Release

Where?How many?When?

How much will it cost?

PurchaseHow are you going to get the consumer to TRY your product / service?

What tactics will you use to motivate people to buy your product/service?Coupons / Invitations

Where?How many?When?

How much will it cost?

RetentionHow will you get your consumers to come back or refer your product or service?

How will you build a long term relationship and get them to return?Frequent Customer Card? Thank you Notes, B-Day Cards

Where?How many?When?

How much will it cost?

6

Economics of 1 Unit (Chapter 9)

(Retail/Wholesale Businesses ONLY)

Definition of One Unit

Selling Price per Unit $ (A)

COGS Per Unit $ (D)

Variable Costs Per Unit

(outgoing shipping, packaging, commissions)

$ (E)

Total Cost of Sales (D+E) $ (F)

Gross Profit Per Unit (A-F) $

7

SKIP THIS SLIDE

SKIP THIS

SLIDE

Cost of Materials/Direct Labor (For Service and Manufacturing Businesses ONLY)

Definition of One Unit

Cost of Sales Per Unit

Direct Labor

(Labor Cost per Hour) (A)

Time (in hours) to make 1 unit (B)

Direct Labor Cost Per Unit (A)*(B)

(think employee)

Total Direct Labor Per Unit

Material Description Cost/Total Quantity Cost Per Unit ($)

Total Material Cost Per Unit

Variable Costs Per Unit (shipping, commission, packaging) $ 0 (all A-214 businesses)

Cost of Sales Per Unit (labor +material+vc)

8

This SHOULD be the SAME UNIT

as in your competition slide

“Be Consistent”

Economics of 1 Unit (For Service and Manufacturing Businesses ONLY)

Definition of One Unit

Selling Price per Unit (A)

Direct Labor Per Unit (B)

Materials Per Unit (C)

Total COGS Per Unit (B+C) (same as previous slide – cost of labor / materials)

(D)

Variable Costs Per Unit

(outgoing shipping, packaging, commissions)

$ 0 (E)

All A-214 businesses enter $0

Total Cost of Sales (D+E (F)

Gross Profit Per Unit (A-F)9

This SHOULD be the SAME UNIT

as in your competition / cost of materials slide

Time Management PlanBusiness Schedule for a Typical Week

(Based on 168 hours)

Entrepreneurship Time spent on YOUR Business

School Hours School Schedule

Work Hours (ex.part time job) or if you don’t work – time spent Church, Volunteer, Youth Group, Band, Sports, Clubs) Details!!

List the time requirement for each activity

Free-Time Hours – give examples (Internet, Gaming, Socializing, Knitting, Paintball, Hunting)

10

Average Monthly Fixed CostsType of Fixed Cost Monthly Cost

Entrepreneurial Stipend $ Insert % of the year end profits

utilities $

salaries of employees $

advertising $ Marketing Materials

insurance $

interest $

rent $

depreciation $

Other (include Internet, cell phone) $ Internet

Total Monthly Fixed Costs $ 11

KEEP in Mind the

$250 Start Up Budget

Sales Assumptions• What are the assumptions that inform your projections?

– My target market is (Insert Location) which has a population of (Insert NUMBER) with (INSERT %) of consumers have a need for (Insert your Product)

– The Size of market is (Size of Market * % of Population)– Full capacity ( How many consumers or products will you need

to serve / sell to achieve full capacity?• How much time can you spend (see time management slide)?• Do you have help?

– Seasonality • When is the busiest time of year for you, your industry?

– Time to develop a brand presence and establish customer base (ie. No business sells at full capacity immediately)

12

THINK Neighborhoo

d or Rock Hill High /

Castle Heights

Pick a Location!

Monthly Sales Projections (Chapter 13)

Month Units Sold

January

February

March

April

May

June

July

August

September

October

November

DecemberTotal =

0

10

20

30

40

50

60

Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec

Units sold

(Double click on chart to add information)

Monthly Break-

Even Units Monthly Fixed Costs/Gross Profit Per

Unit

13

Selling Price Per Unit $ (A)

# of Units Sold (B)

Total Sales (A*B) $ (C)

Total COGS (COGS per unit * B) $ (D)

Other Variable Costs (Other variable costs per unit * B

$ (E)

Total Variable Costs (D+E) $ (F)

Gross Profit (C-F) $ (G)

USAIIRDO (Yearly) (Fixed Cost * 12) $

Other Costs/Unforeseen $

Total Fixed Costs ( Same as USAIIRDO) $ (H)

Profit before Taxes (G-H) $ (I)

Less Estimated Taxes @25% (I * .25) $ (J)

Net Profit (I-J)

Projected Yearly Income Statement

14

Start-up InvestmentEntrepreneurial hours needed for start-up (A)

Wage I pay myself (B)

Total start-up time investment (A*B)

Item Where I will buy this? Cost of Item

CASH RESERVE covering 3 months of fixed costs

Estimated TOTAL START-UP INVESTMENT

15

KEEP in Mind the

$250 Start Up Budget

1st

2nd

3rd

Return On Investment Return on Investment (ROI)

(Yearly Net Profit ÷ Start-up Investment X 100

For every $1 dollar invested,

my business earned :

Investment Return

Savings Rate & Location

CD

Stock Market

Entrepreneur

16

Research the RATE OF RETURN / Current RATE of these on the INTERNET!!!

Need to be REAL Numbers

Social Responsibility Plan

• Describe how your business will give back to the community or support a cause in which you believe

• Explain how you will incorporate social responsibility into your marketing plan

• McDonald’s

17

REAL Cause

THINK – “How will be Social Responsibility Plan HELP both

the COMMUNITY and my BUSINESS

Business & Educational Goals• Business

- SHORT TERM Goals- Increase consumers,

experience, education,

- Long TERM goals- Service, selection, time

• Educational•SHORT TERM Goals:

•High school goals – classes, grades, attendance, clubs, sports, organizations.

•LONG TERM Goals:

•Higher education? What school? Include a picture. Training? Travel?

18

Set “SMART” GOALS

S – Specific – The goal statement is precise and explains what hope to achieve in detail.

M – Measurable – is clear and can be evaluated.

A – Attainable – is realistic, yet offers a challenge

R – Relevant – is meaningful and important to your business and personal life.

T – Time-Bound – has a time frame and includes a completion date.

A Great SLIDE to add

PICTURES

[Enter your mission statement (or slogan if applicable)]

Thank you for your consideration of

[Enter company name]

19

A Great SLIDE to add PICTURES