Business Plan

Entrepreneur Project Part I – Business Plan Write a business plan for an enterprise that will earn you at least $500 over the three months of summer. You should pick something that you have skills, interest, and resources to actually do. Calendar: Monday

Part II – Interview Interview one entrepreneur who has started his/her own business (cannot be family member). Record the interview in video or audio and include a reflection.

Part IV – Present Present your business, advertisement, and summary of your interview to the class on the last day of the project.

Thursday

Friday

Wednesday 15

Introduction

Part III – Advertisement Design one advertisement that you would actually use for your business and that fits into your marketing strategy: business card, radio advertisement, poster, Youtube video, flyer, etc.

17 Entrepreneur Panel

18 Brainstorm business plan

19 Work on rough draft research paper

Homework due Thursday: pick business Homework due Friday: and interviewee interview questions 22 24 25 26 Brainstorm business Brainstorm business Write business plan in Work on rough draft plan plan computer lab research paper Homework due Friday: interview 29 1 Write business plan in Committee Project Day computer lab (1st period Elementary) (6th period park/ Homework due Friday: painting) rough draft paper 6 8 Write business plan in Committee Project Day computer lab (1st period creek) (6th period park/ Homework due Friday: painting) rough draft business plan 13 15 th Work on advertisement (No 6 period) Work on advertisement. 20 22 Work on advertisement. Work on advertisement. Prepare presentation. Prepare presentation.

2 Write business plan in computer lab

3 Work on rough draft research paper. Due by 4:00 pm.

9 Committee Project Day (no 1st period) (6th period park/ painting) 16 st

10 Work on final draft research paper.

17

(No 1 period) Work on final draft Work on advertisement. research paper. 23 24 Presentations Final draft of research paper due by 4:00 pm. Final draft business plan and advertisement due

Part I: Write a Business Plan 1. Decide what type of business you would like to start. The business should be something that you could actually do this summer with the resources and skills available to you. You may have up to two business partners. Due Thursday, April 18th. 5 points 2. Write a rough draft of Parts A, B, and C of your business plan. Everything should be in full sentences with the exception of a few charts of financial data (always show your math). Due Friday, May 10th. 50 points A. Description of Business i. What is your mission statement? ii. What services or products will you sell? iii. Where will you be located? B. Marketing i. Who are your target customers? ii. How large of a market are you targeting? iii. Does your product/service fill an existing need? iv. What/who is your competition? What is your advantage over your competition? What do you offer that they don’t? v. How will you advertise? vi. What are the potential risks of your business? How will you deal with these risks? C. Financial Data This section will be different for every business. In this section you need to research and present the following data: i. The Costs of Your Business. This could include the cost of equipment and supplies, rent for facilities, advertising materials, transportation to and from work, wages for your employees, etc. You will also need to identify the initial capital you will need to start your business and explain how you will get this capital. ii. Your Pricing Strategy. In this section you will have to show how you will cover your costs and make a profit in your business. You will have to explain the prices you will charge for your products or services and the reasoning behind them. iii. Profit. In this section you must show how much you might earn over the two months of summer (July, August) or how much you would have to sell to make at least $500 per person. You must also calculate your hourly compensation. 3. Edit and improve your business plan. Bring a final draft of your business plan to the presentation on Thursday, May 23rd. 100 points Business Plan Scoring Guide no yes 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5

Does your final draft improve upon your rough draft with additional details, explanation, and data? Does part A of your business plan thoroughly describe the purpose and organization of your business? Does part B of your business plan thoroughly describe the marketing and advertising strategy of your business? Does part C of your business plan thoroughly list yours costs, expenses, and other data to demonstrate how you will make at least $500 per person in two months? Is your final draft free of spelling, punctuation, and other grammar errors?

Part II: Interview 1. Pick a person who is an entrepreneur (someone who runs their own business and/or started their own business). Each senior must pick a different person. No family members. Include contact information. Due Thursday, April 18th. 5 points 2. Write ten interesting interview questions to bring to your interview. Think about the categories below. Due Friday, April 19th. 10 points - goals, passion - starting the business - day-to-day running of business - employees - marketing, advertising, competition - government regulation, taxes - risks, challenges - successes - advice, lessons learned 3. Do interview. When conducting your interview keep in mind that your questions may change, you may think of better questions on the spot, or you may need to ask follow up questions to get your interviewee to answer in sufficient detail. It is your job to get as much interesting information out of this person as possible. Record with audio or video (make sure quality is decent). The interview should be at least 15 minutes long. Due by Friday April 26th in online server. 20 points 4. Edit the audio or video file to improve its quality. Add an introduction. Add a reflection that is at least 2 minutes long at the end summarizing what you learned from the interview. Submit to online server on the day of presentation – Thursday, April 23rd. 20 points Interview Scoring Guide no yes 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5

Did you ask at least 10 questions that thoroughly address different aspects of running a business? Are your questions insightful and detailed? Did they provoke interesting responses? Did you get your interviewee to answer each question with sufficient detail? Did you get a lot of information in your interview? Did you provide an interesting introduction and insightful reflection to your interview? Or, is your video/ audio well-edited with proper lighting, volume, transitions, etc.?

Part III: Advertisement 1. Design one piece of advertising per person that is part of your marketing strategy. Must not violate copyright laws. Pick from the ideas below, or come up with your own idea. Due on the day of the final presentation – Thursday, May 23rd. 50 points - business card - poster/flyer - banner - radio advertisement - Youtube video - -Facebook profile (for 2+ people) - other? Advertisement Scoring Guide no yes 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5

Is your advertisement neatly crafted with no errors? Is your advertisement appropriately designed to fit with your marketing plan? Is your advertisement creative and effective? Does it have “sex” appeal? Will it get people to buy your services?

Part IV: Presentation 1. Your presentation will be on Thursday, May 23rd for 20 points. (If you are absent you will have to do a makeup project.) You should bring the final draft of your business plan and submit the edited version of your interview by the end of the day. Your presentation will be short, but should include the information below. It is highly recommended to summarize your presentation on a poster, PowerPoint, or handout. - Identify who you interviewed and the main things you learned from the interview (include images or audio/video clips). - Identify your business product, goals (bring an example of the product if possible). - Explain who you are marketing to and how you will advertise. Show your advertisement. - Explain how much profit you will make Presentation Scoring Guide no yes 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5

Did you prepare ahead of time for your presentation? Did you know what you were going to say? Did you have your presentation prepared in a way for the class to see it? (PowerPoint/ handouts/ poster, etc) Did you present a little bit about ALL parts of your business: your product, goals, marketing, advertising, finances? Did you speak loudly and clearly? Did you have good stage presence?

Name/s:

Name/s:

I/ we will write a business plan for a:

I/ we will write a business plan for a:

I will interview:

I will interview:

His/her contact information is:

His/her contact information is:

I will use this format to record my interview: • video • audio

I will use this format to record my interview: • video • audio

Name/s:

Name/s:

I/ we will write a business plan for a:

I/ we will write a business plan for a:

I will interview:

I will interview:

His/her contact information is:

His/her contact information is:

I will use this format to record my interview: • video • audio

I will use this format to record my interview: • video • audio

Interview Scoring Guide no yes 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5

Did you ask at least 10 questions that thoroughly address different aspects of running a business? Are your questions insightful and detailed? Did they provoke interesting responses? Did you get your interviewee to answer each question with sufficient detail? Did you get a lot of information in your interview? Did you provide an interesting introduction and insightful reflection to your interview? Or, is your video/ audio well-edited with proper lighting, volume, transitions, etc.?

Business Plan Scoring Guide no yes 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5

Does your final draft improve upon your rough draft with additional details, explanation, and data? Does part A of your business plan thoroughly describe the purpose and organization of your business? Does part B of your business plan thoroughly describe the marketing and advertising strategy of your business? Does part C of your business plan thoroughly list yours costs, expenses, and other data to demonstrate how you will make at least $500 per person in two months? Is your final draft free of spelling, punctuation, and other grammar errors?

Advertisement Scoring Guide no yes 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5

Is your advertisement neatly crafted with no errors? Is your advertisement appropriately designed to fit with your marketing plan? Is your advertisement creative and effective? Does it have “sex” appeal? Will it get people to buy your services?

Presentation Scoring Guide no yes 0 1 2 3 4 5 0 1 2 3 4 5

Did you prepare ahead of time for your presentation? Did you know what you were going to say? Did you have your presentation prepared in a way for the class to see it? (PowerPoint/ handouts/ poster, etc) Did you present a little bit about ALL parts of your business: your product, goals,marketing, advertising, finances?

0 1 2 3 4 5

Did you speak loudly and clearly? Did you have good stage presence?