Business Name (Logo)

Entrepreneur’s Name Grade Age

Business Profile

• Explain your business and why you selected it • Type of Business: – Service, Retail, Manufacturing,Wholesale – How will you satisfy a consumer need • Legal Structure : – Sole Proprietorship, Partnership, C Corporation, SubChapter-S, Limited Liability Company or Not-for-Profit Corporation – Why did you select this legal structure?

1

Opportunity

• Define opportunity – List 3 ways your business fulfills a consumer need/solves a problem • Qualifications – List 3 reasons why you are qualified to run this business 2

• • • • •

Consumer Profile

By Location

–

[The size of the area, density, and location of your customers. 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.]

By Behavior

–

[Purchasing patterns and buying behavior such as rate of use, repetition of purchases, benefits sought, brand preferences, and loyalty characteristics of your customers.]

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

Competitor [ex. Local seller] [ex. National chain]

$ $ $

Competition

Price Quality Greatest Strength Greatest Weakness

Competitive Advantage

•

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

( Go beyond lowest price .)

4

Marketing Mix

• • • •

P

rice: – [Should be an explanation of why you chose your price]

P

lace: – [Should be an explanation of why you chose this place]

P

roduct: – Explain the benefits and features of product

P

romotion: – Explain the strategy to promotions you will use 5

Marketing

Phase Method Description Awareness What tactics will you use to get consumers to know you exist?

Where?

How many?

When?

Purchase Retention What tactics will you use to motivate people to buy your product/service?

How will you build a long term relationship and get them to return?

Cost How much will it cost?

6

Economics of 1 Unit

(Retail/Wholesale Businesses ONLY) Definition of One Unit Selling Price per Unit COGS Per Unit Variable Costs Per Unit (outgoing shipping, packaging, commissions) Total Cost of Sales (D+E) Gross Profit Per Unit (A-F) $ (A) $ (D) $ (E) $ (F) $ 7

Cost of Materials/Direct Labor

(For Service and Manufacturing Businesses ONLY)

Definition of One Unit

Direct Labor (Labor Cost per Hour) (A) $ Material Description

Cost of Sales Per Unit

Time (in hours) to make 1 unit (B) Direct Labor Cost Per Unit (A)*(B)

Total Direct Labor Per Unit

Cost/Total Quantity $

$

Cost Per Unit ($)

Total Material Cost Per Unit Variable Costs Per Unit (shipping, commission, packaging) Cost of Sales Per Unit (labor +material+vc) $ $ $

8

Economics of 1 Unit

(For Service and Manufacturing Businesses ONLY) Definition of One Unit Selling Price per Unit Direct Labor Per Unit (if applicable) Materials Per Unit (if applicable) Total COGS Per Unit (B+C) Variable Costs Per Unit (outgoing shipping, packaging, commissions) Total Cost of Sales (D+E) Gross Profit Per Unit (A-F) $ (A) $ (B) $ (C) $ (D) $ (E) $ (F) $ 9

Time Management Plan

Business Schedule for a Typical Week

Entrepreneurship School Hours Hours Work Hours (ex.part time job) Free-Time Hours 10

Average Monthly Fixed Costs

Type of Fixed Cost

Entrepreneurial Stipend [ hours x (minimum wage + $1]

utilities salaries of employees advertising insurance interest rent depreciation other Total Monthly Fixed Costs

$

Monthly Cost

$ $ $ $ $ $ $ $

$

11

Sales Assumptions

• What are the assumptions that inform your projections?

– Size of market – 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

Month January February March April May June July August September October November December

Monthly Sales Projections

Units sold Units Sold 60 50 40 30 20 10 0 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec (Double click on chart to add information) Monthly Break Even Units (

Chapter 20) Monthly Fixed Costs/Gross Profit Per Unit

Total =

13

Projected Yearly Income Statement

Selling Price Per Unit # of Units Sold $ (A) (B)

Total Sales (A*B)

Total COGS

(COGS per unit * B) $

$

(C)

(D) Other Variable Costs

(Other variable costs per unit * B

Total Variable Costs (D+E)

Gross Profit (C-F)

USAIIRDO

(Yearly)

Other Costs/Unforeseen Total Fixed Costs Profit before Taxes

(G-H)

Less Estimated Taxes @25%

(I * .25) Net Profit (I-J)

$ (F)

$ (G)

$ $ $ (H) $ (I) $ (J)

$

14

Start-up Investment

Entrepreneurial hours needed for start-up (A) Wage I pay myself (B)

$

Total start-up time investment (A*B)

$

Item Where I will buy this?

CASH RESERVE covering 3 months of fixed costs Estimated TOTAL START-UP INVESTMENT Cost of Item

$ $ $ $ $ $ 15

Return On Investment

Return on Investment (ROI) (Chapter 3) Yearly Net Profit ÷ Start-up Investment X 100 For every $1 dollar invested, my business earned

:

$

% Investment

Savings CD Stock Market

Entrepreneur Return

16

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 17

Business & Educational Goals

•

Business

- [enter short term goal] •

Educational

- [enter short term goal] - [enter long term goal] - [enter long term goal] 18

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

Thank you for your consideration of

[Enter company name]

19