Learn
About Entrepreneurship and Write A Business Plan
Learn
About Entrepreneurship and Write A Business Plan
HINT: He's a famous entrepreneur from Pennsylvania.
You and a partner have decided you have a spectacular idea for a business, but you don't have enough money to start the business. You are going to need a loan. A friend recommends that you create a business plan, but you have no idea what that is. First, you and your chosen partner need to find out what a business plan is. Then you will create one for your new business using presentation software. Lastly, you will present your business plan to a group of commercial lenders (the class) to determine whether your business is worthy of a loan. Good luck!
Specific Objectives For WebQuest
Activity 1Entrepreneurship Articles
AND
Are You Ready To Start Your Own Business
Activity 2Entrepreneurship Video
This activity will be completed as a class.Activity 3Entrepreneurship Personality TestShow Video:
"Milton S. Hershey: The Chocolate King" by A & E Biography
To order: Write to the Hershey Museum, 170 West Hershey Park Drive, Hershey, PA 17033 or call 1-717-534-3439.
Cost: $15.95 + Shipping and Handling
or check your local library
Click here to print worksheet for video
Do You Have What It Takes To Be An Entrepreneur?
Take this quiz and find out...
- Each partner needs to take their own test.
- Hand in test to teacher when completed.
Before you start click here and print your worksheet. This activity is to be completed with your new partner.
2. Why Should You Create A Business Plan Before Starting A Business?
3. What Should Be Included In The Business Plan?
4. Is There Only One Way To Create A Business Plan?
5. Where Can One Get Help In Creating A Business Plan?
Teacher Answer Key
- SBA - Starting Your Business Main Page
- *Business Plan Preparation Service-Business Plan Editing, Marketing Plans & Proposals, Business Financing Proposals & Sources
- Business plan software helps in business planning of business concepts & business development ideas
Directions for Teacher Leading Discussion
- In groups of 4, have the students list what they think should go in a business plan and why. Use this worksheet.
- Then as a class on the front board have each group list one thing that should be included in the business plan and why.
- DISCUSS
- Give a quiz after the discussion. See evaluation for Activity 5.
Activity 7Writing A Thank You Note
Choose a local business owner in a similar field as the business that you will be starting.
- Call or visit the owner and make an appointment when it is convenient for the owner and yourself. You may take a copy of this letter to the owner to show the project is legitimate. See me for a copy. Click here to see what the letter says.
- Do not forget about the appointment. Arrive about 5 minutes early and be dressed professionally.
- Use the following questions and a few of your own for the interview. Click Here
- The owner may refuse to answer any of the questions. Be courteous and say "thank you" when the interview is over. Remember to ask for a business card.
- In class, you will be required to type a thank you note to the owner. Print two copies. Give both copies to the teacher. You will need to type one envelope also. You will receive more instruction on this in class.
Click here to see an example of a thank you note.Activity 8 Naming Your Business ActivityType your thank you note. Print two copies. Give both copies to the teacher. You will need to type one envelope also. You will receive more instruction on this in class.
Click here to complete this activity.
Teacher Answer Key
- Do not hand in worksheets they will be checked and discussed in class.
- Your teacher will help you complete a form for your state to file for a fictitious name.
Activity 9Creating Your Business Plan
Your business plan must include at the minimum the following slides. Please feel free to include more. To see the evaluation form for your project click here.
Slide 1 Name of BusinessActivity 10 Your PresentationSlide 2 Why you named your business this
Slide 3 Summary of Business
Slide 4 Why do you want to start this type of business?
Slide 5 What will you be selling? Describe your product.
Slide 6 Describe your target market using demographics. This is your customer profile. Why will they buy your product?
Slide 7 Advertising/Marketing Strategy
Slide 8 What equipment will you need to start your business and how much will it cost?Slide 8 List the competition and why you think you can do better than the competition.
Slide 9 Create a budget and estimate how much money you will need to start your business.
Slide 10 Why are you qualified to run this type of business?
Other requirements for the hard copy folder...
1. Draw a picture of the layout of the business.2. Draw a picture of your trademark.
3. Create a radio advertisement.
4. Create a television storyboard.
Click here for the storyboard for designing your television commercial.5. Create a slogan.6. Create a brochure or a sign to announce the opening of your business.Wacky slogans site7. Create a business card.
8. Include both partner's resumes.
9. Partnership agreement10. Document to get fictitious name
You and your partner will present your business plan to a group of commercial lenders (the class).A date will be assigned for your presentation.
GOOD LUCK!
Classmates are required to complete an evaluation form of each group. Click here for the form.
Student Grade Sheet -The student is also required to keep a copy of his/her grades until after the final project. Obviously, the teacher also keeps a record of the grades. The grade sheet is turned in to the teacher for final comments and then returned to the student.
Explanation of Evaluation of Activities #1- 10
Activity #9 and 10 See evaluation form.
Did your loan get approved? Great job! Who says you're too young to start a business! If you liked this project perhaps you want to take more business classes in the future.
Also, check into Junior Achievement in your area.
This page written by Holly J. Hartman
Last updated: August 2, 1999