business plan format grade 12

7 Business Plan Templates for Kids (Free Printables!)

By: Author Amanda L. Grossman

Posted on Last updated: May 7, 2024

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Download one of these (mostly) free business plan templates for kids to help your child focus on a business idea.

What do supersoakers, Apple computers, and Nike shoes all have in common?

They all started as a business plan.

A business plan template for kids is great for two reasons:

• Your child can play around with it and get familiar with what's required (even if they never start the business)
• It helps kids focus on just one business idea at a time, and to see if they should move forward with it

No matter which category your own child falls into – just playing with business plans, or they have an actual business idea – I’ve got just the free business plan template for you.

Honestly? I wish my own parents would’ve given me one of these when, as a kid, my childhood friend and I had come up with our first kid business idea: selling bean bags. So, good on you for getting your kids involved with business plans so early in life!

Best Business Plan Templates for Kids

Use one of the business plan templates for kids below with one of these 16 kid business ideas .

OR, help them to use one of their original ideas sending sparks in their brain. You can use these 3 kid business plan examples for help with filling it out.

1. Solid Gold Biz Plan

I’ve been in business for 7 years and I’ve made about every mistake in the book.

Probably one of the biggest? Was that I didn't sit down to write a proper business plan (or, ANY business plan) until I was several years into blogging. 

Because of this, I created a free business plan template for kids and teens (on Page 6 of this free printable), so that they practice how to do it right, from the beginning! 

What makes my free Solid Gold Biz Plan different is that it starts your child thinking about the problem that they want to solve – because ultimately, that is the purpose of creating a product or a service. To solve a specific problem for people.

It then goes on to ask them simple questions that will focus them in on what it takes to plan out a business idea.

For example, I raise the question of how much it will cost to not only create the product/service but to also deliver it and maintain it. These are sometimes costs forgotten costs when creating a business plan.

2. BizKids’ Guide to Writing a Business Plan

This free business plan guide for kids includes sections for your idea, your marketing (and what makes your product unique), your startup costs, and an area for pricing so that you can make sure you’ll make a profit.

At the end is a one-page summary where your child can write up their answers from the previous pages all in the same place. Great for tacking up on the wall!

3. Teen Entrepreneur Toolbox

Anthony ONeal partnered up with Dave Ramsey to create the  Teen Entrepreneur Toolbox , a kid’s entrepreneur kit and small business guide for teens.

In other words, it’s so much more than just a business template for kids!

The entrepreneur kit includes the following:

• Access to the Free Entrepreneur Toolbox app
• Teen Portfolio Book
• DVD of Anthony’s Training Video
• Parent’s Guide Book
• Pack of Thank You Cards
• Deck of Conversation Starter Cards about Starting a Business
• Goal Tracker Poster

Here's my full review of the Teen Entrepreneur Toolbox .

4. Proverbial Home Maker’s Family Business Plan Guide

This is such a fun guide that you can fill out with your child, teen, tween, or even the whole family. It includes family business ideas, a sales ledger, an inventory worksheet, and much more.

Business Plan Examples

You may be wondering where you can find business plan examples to show your kids or teens.

For starters, you should look right at home. Are you a small business owner?

Then you’ll definitely want my free Take Your Child to Work Day printables – it’s got a section for you to fill in about your own business, which is a perfect business plan example to discuss with your child.

You can also find two business plan examples on the Small Business Administration’s site (scroll down until you see red buttons for Rebecca’s example business plan, and Andrew’s plan).

They’re not entirely kid-friendly but can give lots of ideas for the kind of information and research to put into a business plan.

Business Plan Activity Worksheets

Check out these free PDF Shark Tank worksheets for students . Students or kids can work through coming up with their own business ideas, create an advertisement for it, and a scoring card to judge the business ideas.

You’ll find a free 30-minute Small Business Administration course for young entrepreneurs meant for teens that you can use with your students (or have your child go through).

Hint: In Objective 3, it goes over how to create a business plan.

Are you an educator? Great – you can get a free entrepreneur curriculum for Grades 1 – 12, with lots of worksheets, from the Venture Lab .

Further resources include:

• Teen Business Video Lessons
• EverFI’s Entrepreneurial Expedition
• FEE’s Course on the Entrepreneur’s Role in Creating Value
• Business Plan Note Taker (lots of great prompts to create a business plan with)

Grab 23 more entrepreneur lesson plans here.

I hope you've found some business templates for kid resources that interest you. Below, you'll find other related kid entrepreneurship articles that will help your kids, teens, and students learn about the entrepreneur's career path. 

Related Kid Entrepreneurship Resources

• 27 Youth Entrepreneur Awards and Scholarships
• 5 Kid Entrepreneur Kits
• 14 Kid Entrepreneur Books
• 11 Best Business Simulation Games for Kids
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Entrepreneurship Project Business Plan- CBSE Class 12

Table of Contents

ACKNOWLEDGMENT

Many people helped me through their support and guidance for the successful completion of this project.

First of all, I thank the Almighty God for his goodness and mercy in giving me the strength to complete this project.

I, at this moment, express my abundant and sincere gratitude to Mrs. SANILA MANOJ, Department of Commerce, Dr. GR PS, XTZ for her valuable guidance, constant encouragement, and creative suggestions rendered during this project.

I thank SISTER XTZ (Managing Trustee) Mrs. XYZ (Senior Principal) Mr. XYZ (Principal) for providing me with all facilities and also for the constant inspiration and encouragement for successful completion of this project.

I offer my deepest gratitude to my family members, whose prayers and blessings guided me for the successful completion of this project. I also owe my gratitude to my classmates, whose support was inevitable for the completion of the project.

INTRODUCTION

A business plan is a written description of the business further. That means a document that describes what plan to do and how to do it. Business plan com perform several tasks for those who write & read them. They are used by investment seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, the prospect for new business deals with suppliers, or simply to understand how to manage their companies cutter.

• To provide clarity of thought & purpose.
• To introduce the business models.
• To present examples, step by step explanation of the business plan.
• To define what the business plan is and who prepares it.
• To understand the scope and the value of the business

NEED AND SIGNIFICANCE

• It gives direction to the vision formulated by the entrepreneurs.
• To monitor the progress after implementing business plans.
• To persuade others to join the business.
• To seek loans from financial institutions.
• To identify the actual strength and weaknesses of the plan.

EXECUTIVE SUMMARY

“ELVAGO CANTINA” believes in its unique delivery to service as its policy is “Consumer is king’ It’s traditional, as well as members outlook gives you the feeling as if you are the members of its family.

Though we are now the love and taste in our foods will be abundant.

The location is just a half kilometer from the bus bay situated at the heart of Cobin city. It provides great facilities provided with first-class infrastructural facilities.

ABOUT THE COMPANY

“ELVAGO CANTINA’ is a first-class startup company with very good infrastructure. This company believes she is securing the society by organizing social activities such as entertainment programs for the Physically Challenged or differently-abled children.

It also has the policy to donate a part of income to various and all spread old age homes around the Rochi city also.

In the present situation, ‘ELVAGO’ consists of about too many employers overall.

There are about employees and so on the executive staff members. It is situated in the less bay in Vytilla in the heart of Kochi City.

ELVAGO CANTINA

‘ELVAGO CANTINA’ is something a place where the variety of goods are sold to the customers. The statement motivates us to go to the restaurant business in India. We have suggested this because there is no branded restaurant until now. The tag line for ELVAGO CANTINA is

” TASTY; BUT CHEAPER”

To become the most preferred restaurant among the people by treating the people in the way they like to be treated.

For every business, location plays a vital role. The success and the future of the company depend on that place from the selling of the product and availability of the required raw materials at least cost. The location of our restaurant is in the heart of Kochi, i.e., Vytilla.

BUSINESS OBJECTIVES

• To establish a working store for the restaurant.
• To provide the true flavor of India at reasonable costs.
• To understand the taste of the customers.
• To balance our business goal with one financial objective.
• To provide the best quality food to the customers.

MANAGEMENT SUMMARY

The initial summary of management depends on the founders, and there are various another working inside the company. As we grow, we will take an additional held in certain key areas.

At present, the ELVAGO CANTINA has two founders, Head offices, Eco, Sheffs, Managers, Waiting staff, etc.

The restaurant aims to be a stone in the community creating a neighborhood atmosphere where the customers feel safe and comfortable.

We target all the age groups of people from small children to teenagers and adults to the old aged people also. Our company’s culture is to satisfy in every way all the customs stepping into ‘ELVAGO’ especially with our special mems including:

• Muttons Biryani
• Elvago’s Special Biriyani
• Vegetable Biryani.
• Egg Biryani
• Elvago’s Special Fried Rice
• Green Chicken Rice.
• Chicken Chops
• Elvago’s Special Butter Chicken
• Elvago’s Special Chicken Curry.

MARKET & COMPETITION

We are the startup company and are looking forward to earning a good share of the market. The other important things are customer satisfaction. The competitions are common in every society between Various enterprises

Our competitors are: –

Pai Brothers.

Sardarji ka Dhabha.

INFRASTRUCTURE

ELVAGO CANTINA provides great infrastructural facilities. Over 45 seats and family rooms are provided with a good air conditioning system. The infrastructure in our restaurant is very attractive. The restaurant has mainly two floors for the customers.

PHYSICAL PLANT

Area: – The piece of land which is required to organize the whole set up is about 1,600 sq. feet

MACHINERY AND EQUIPMENT

• Refrigerators

FINANCIAL RESOURCES

It is SBA’s most basic and common loan program. These loans are mostly available through various commercial institutions, and most American banks participate as lenders in this program. Lenders typically grand loans up to £ 2,00,000.

FRIENDS & FAMILIES

Friends and family members might be the most lenient member of the ELVAGO CANTINA launch. They don’t tend to make you pledge your house and may even agree to sell their interest in your company back to you for a nominal return.

PERSONNEL PLAN

The personnel plan is based on operating 24/7 hrs and falls in with how EAVAGO CANTINA operates throughout the week.

Any additional price will be part-time & devoted to expansion on any catering functions, as well as increased capacity of private party function.

The enterprise currently has 100 employees. There are about 100 employees & 30 executive staff.

MARKET STRATEGY

Our strategy is based on serving our markets well. The concentration will be on providing fresh & quality good items.

A combination of local media & local store marketing programs will be utilized at each location. By providing a fun & entertaining environment with high-quality goods (foods at a reasonable rate, we will be coming shortly on top of the town.

UNIQUE SELLING PROPORTION

There are many restaurants in India. What gives a competitive advantage to the product of “ELVAGO CANTINA” is that it produces good and quality food. When compared to other restaurants, what makes us special is that we have many varieties of foods. The other restaurants charge a very high price in their foods; we charge only a reasonable price.

By analyzing the product,

• I could easily find the customer’s taste and preferences in the area.
• It could also analyze the price of Various products.
• By writing a business plan, it is necessary to know about the starling of a business enterprise.

CONCLUSIONS

A Business plan is an important document that is essential for every business firm. This is valuable not only for the entrepreneurs but also for all the stakeholders who access the firm directly or indirectly. There are various components of a business plan which is prepared to depend upon the entrepreneur’s enterprise and knowledge.

CERTIFICATE

This is to certify that the project is an authentic record of the work done by ROHITH S. BOBBY , class XII.D during 2017-2018 towards the partial fulfillment of the AISSCE course prescribed by the Central Board of Secondary Education (CBSE). The student has done the project with his/her effort & with the guidance of a concerned teacher.

Teacher In-charge

External Examiner

DECLARATION

I, XYZ do at this moment declare that the project entitled “BUSINESS PLAN” is a bonafide record of the project work done by me and was under the guidance of Mrs. SANILA MANOJ, also declare this project or any part of it has not been submitted by me fully or partially for any other examination before.

BIBLIOGRAPHY

• NCERT textbook (Class XII) –
• [email protected]

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11.4 The Business Plan

Learning objectives.

By the end of this section, you will be able to:

• Describe the different purposes of a business plan
• Describe and develop the components of a brief business plan
• Describe and develop the components of a full business plan

Unlike the brief or lean formats introduced so far, the business plan is a formal document used for the long-range planning of a company’s operation. It typically includes background information, financial information, and a summary of the business. Investors nearly always request a formal business plan because it is an integral part of their evaluation of whether to invest in a company. Although nothing in business is permanent, a business plan typically has components that are more “set in stone” than a business model canvas , which is more commonly used as a first step in the planning process and throughout the early stages of a nascent business. A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases. The business plan usually projects financial data over a three-year period and is typically required by banks or other investors to secure funding. The business plan is a roadmap for the company to follow over multiple years.

Some entrepreneurs prefer to use the canvas process instead of the business plan, whereas others use a shorter version of the business plan, submitting it to investors after several iterations. There are also entrepreneurs who use the business plan earlier in the entrepreneurial process, either preceding or concurrently with a canvas. For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup . 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a standard business plan.

As with many aspects of entrepreneurship, there are no clear hard and fast rules to achieving entrepreneurial success. You may encounter different people who want different things (canvas, summary, full business plan), and you also have flexibility in following whatever tool works best for you. Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor.

Business Plan Overview

Most business plans have several distinct sections ( Figure 11.16 ). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience. For our discussion, we’ll describe a brief business plan and a standard business plan. If you are able to successfully design a business model canvas, then you will have the structure for developing a clear business plan that you can submit for financial consideration.

Both types of business plans aim at providing a picture and roadmap to follow from conception to creation. If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept.

The full business plan is aimed at executing the vision concept, dealing with the proverbial devil in the details. Developing a full business plan will assist those of you who need a more detailed and structured roadmap, or those of you with little to no background in business. The business planning process includes the business model, a feasibility analysis, and a full business plan, which we will discuss later in this section. Next, we explore how a business plan can meet several different needs.

Purposes of a Business Plan

A business plan can serve many different purposes—some internal, others external. As we discussed previously, you can use a business plan as an internal early planning device, an extension of a napkin sketch, and as a follow-up to one of the canvas tools. A business plan can be an organizational roadmap , that is, an internal planning tool and working plan that you can apply to your business in order to reach your desired goals over the course of several years. The business plan should be written by the owners of the venture, since it forces a firsthand examination of the business operations and allows them to focus on areas that need improvement.

Refer to the business venture throughout the document. Generally speaking, a business plan should not be written in the first person.

A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch. In this context, the business plan is a presentation plan, intended for an outside audience that may or may not be familiar with your industry, your business, and your competitors.

You can also use your business plan as a contingency plan by outlining some “what-if” scenarios and exploring how you might respond if these scenarios unfold. Pretty Young Professional launched in November 2010 as an online resource to guide an emerging generation of female leaders. The site focused on recent female college graduates and current students searching for professional roles and those in their first professional roles. It was founded by four friends who were coworkers at the global consultancy firm McKinsey. But after positions and equity were decided among them, fundamental differences of opinion about the direction of the business emerged between two factions, according to the cofounder and former CEO Kathryn Minshew . “I think, naively, we assumed that if we kicked the can down the road on some of those things, we’d be able to sort them out,” Minshew said. Minshew went on to found a different professional site, The Muse , and took much of the editorial team of Pretty Young Professional with her. 49 Whereas greater planning potentially could have prevented the early demise of Pretty Young Professional, a change in planning led to overnight success for Joshua Esnard and The Cut Buddy team. Esnard invented and patented the plastic hair template that he was selling online out of his Fort Lauderdale garage while working a full-time job at Broward College and running a side business. Esnard had hundreds of boxes of Cut Buddies sitting in his home when he changed his marketing plan to enlist companies specializing in making videos go viral. It worked so well that a promotional video for the product garnered 8 million views in hours. The Cut Buddy sold over 4,000 products in a few hours when Esnard only had hundreds remaining. Demand greatly exceeded his supply, so Esnard had to scramble to increase manufacturing and offered customers two-for-one deals to make up for delays. This led to selling 55,000 units, generating $700,000 in sales in 2017. 50 After appearing on Shark Tank and landing a deal with Daymond John that gave the “shark” a 20-percent equity stake in return for $300,000, The Cut Buddy has added new distribution channels to include retail sales along with online commerce. Changing one aspect of a business plan—the marketing plan—yielded success for The Cut Buddy.

Link to Learning

Watch this video of Cut Buddy’s founder, Joshua Esnard, telling his company’s story to learn more.

If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept. This version is used to interest potential investors, employees, and other stakeholders, and will include a financial summary “box,” but it must have a disclaimer, and the founder/entrepreneur may need to have the people who receive it sign a nondisclosure agreement (NDA) . The full business plan is aimed at executing the vision concept, providing supporting details, and would be required by financial institutions and others as they formally become stakeholders in the venture. Both are aimed at providing a picture and roadmap to go from conception to creation.

Types of Business Plans

The brief business plan is similar to an extended executive summary from the full business plan. This concise document provides a broad overview of your entrepreneurial concept, your team members, how and why you will execute on your plans, and why you are the ones to do so. You can think of a brief business plan as a scene setter or—since we began this chapter with a film reference—as a trailer to the full movie. The brief business plan is the commercial equivalent to a trailer for Field of Dreams , whereas the full plan is the full-length movie equivalent.

Brief Business Plan or Executive Summary

As the name implies, the brief business plan or executive summary summarizes key elements of the entire business plan, such as the business concept, financial features, and current business position. The executive summary version of the business plan is your opportunity to broadly articulate the overall concept and vision of the company for yourself, for prospective investors, and for current and future employees.

A typical executive summary is generally no longer than a page, but because the brief business plan is essentially an extended executive summary, the executive summary section is vital. This is the “ask” to an investor. You should begin by clearly stating what you are asking for in the summary.

In the business concept phase, you’ll describe the business, its product, and its markets. Describe the customer segment it serves and why your company will hold a competitive advantage. This section may align roughly with the customer segments and value-proposition segments of a canvas.

Next, highlight the important financial features, including sales, profits, cash flows, and return on investment. Like the financial portion of a feasibility analysis, the financial analysis component of a business plan may typically include items like a twelve-month profit and loss projection, a three- or four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a breakeven calculation. You can explore a feasibility study and financial projections in more depth in the formal business plan. Here, you want to focus on the big picture of your numbers and what they mean.

The current business position section can furnish relevant information about you and your team members and the company at large. This is your opportunity to tell the story of how you formed the company, to describe its legal status (form of operation), and to list the principal players. In one part of the extended executive summary, you can cover your reasons for starting the business: Here is an opportunity to clearly define the needs you think you can meet and perhaps get into the pains and gains of customers. You also can provide a summary of the overall strategic direction in which you intend to take the company. Describe the company’s mission, vision, goals and objectives, overall business model, and value proposition.

Rice University’s Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea ), requires an executive summary of up to five pages to apply. 51 , 52 Its suggested sections are shown in Table 11.2 .

Are You Ready?

Create a brief business plan.

Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business. See if you can find a version of the company’s actual executive summary, business plan, or canvas. Compare and contrast your vision with what the company has articulated.

• These companies are well established but is there a component of what you charted that you would advise the company to change to ensure future viability?
• Map out a contingency plan for a “what-if” scenario if one key aspect of the company or the environment it operates in were drastically is altered?

Full Business Plan

Even full business plans can vary in length, scale, and scope. Rice University sets a ten-page cap on business plans submitted for the full competition. The IndUS Entrepreneurs , one of the largest global networks of entrepreneurs, also holds business plan competitions for students through its Tie Young Entrepreneurs program. In contrast, business plans submitted for that competition can usually be up to twenty-five pages. These are just two examples. Some components may differ slightly; common elements are typically found in a formal business plan outline. The next section will provide sample components of a full business plan for a fictional business.

Executive Summary

The executive summary should provide an overview of your business with key points and issues. Because the summary is intended to summarize the entire document, it is most helpful to write this section last, even though it comes first in sequence. The writing in this section should be especially concise. Readers should be able to understand your needs and capabilities at first glance. The section should tell the reader what you want and your “ask” should be explicitly stated in the summary.

Describe your business, its product or service, and the intended customers. Explain what will be sold, who it will be sold to, and what competitive advantages the business has. Table 11.3 shows a sample executive summary for the fictional company La Vida Lola.

Business Description

This section describes the industry, your product, and the business and success factors. It should provide a current outlook as well as future trends and developments. You also should address your company’s mission, vision, goals, and objectives. Summarize your overall strategic direction, your reasons for starting the business, a description of your products and services, your business model, and your company’s value proposition. Consider including the Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) code to specify the industry and insure correct identification. The industry extends beyond where the business is located and operates, and should include national and global dynamics. Table 11.4 shows a sample business description for La Vida Lola.

Industry Analysis and Market Strategies

Here you should define your market in terms of size, structure, growth prospects, trends, and sales potential. You’ll want to include your TAM and forecast the SAM . (Both these terms are discussed in Conducting a Feasibility Analysis .) This is a place to address market segmentation strategies by geography, customer attributes, or product orientation. Describe your positioning relative to your competitors’ in terms of pricing, distribution, promotion plan, and sales potential. Table 11.5 shows an example industry analysis and market strategy for La Vida Lola.

Competitive Analysis

The competitive analysis is a statement of the business strategy as it relates to the competition. You want to be able to identify who are your major competitors and assess what are their market shares, markets served, strategies employed, and expected response to entry? You likely want to conduct a classic SWOT analysis (Strengths Weaknesses Opportunities Threats) and complete a competitive-strength grid or competitive matrix. Outline your company’s competitive strengths relative to those of the competition in regard to product, distribution, pricing, promotion, and advertising. What are your company’s competitive advantages and their likely impacts on its success? The key is to construct it properly for the relevant features/benefits (by weight, according to customers) and how the startup compares to incumbents. The competitive matrix should show clearly how and why the startup has a clear (if not currently measurable) competitive advantage. Some common features in the example include price, benefits, quality, type of features, locations, and distribution/sales. Sample templates are shown in Figure 11.17 and Figure 11.18 . A competitive analysis helps you create a marketing strategy that will identify assets or skills that your competitors are lacking so you can plan to fill those gaps, giving you a distinct competitive advantage. When creating a competitor analysis, it is important to focus on the key features and elements that matter to customers, rather than focusing too heavily on the entrepreneur’s idea and desires.

Operations and Management Plan

In this section, outline how you will manage your company. Describe its organizational structure. Here you can address the form of ownership and, if warranted, include an organizational chart/structure. Highlight the backgrounds, experiences, qualifications, areas of expertise, and roles of members of the management team. This is also the place to mention any other stakeholders, such as a board of directors or advisory board(s), and their relevant relationship to the founder, experience and value to help make the venture successful, and professional service firms providing management support, such as accounting services and legal counsel.

Table 11.6 shows a sample operations and management plan for La Vida Lola.

Marketing Plan

Here you should outline and describe an effective overall marketing strategy for your venture, providing details regarding pricing, promotion, advertising, distribution, media usage, public relations, and a digital presence. Fully describe your sales management plan and the composition of your sales force, along with a comprehensive and detailed budget for the marketing plan. Table 11.7 shows a sample marketing plan for La Vida Lola.

Financial Plan

A financial plan seeks to forecast revenue and expenses; project a financial narrative; and estimate project costs, valuations, and cash flow projections. This section should present an accurate, realistic, and achievable financial plan for your venture (see Entrepreneurial Finance and Accounting for detailed discussions about conducting these projections). Include sales forecasts and income projections, pro forma financial statements ( Building the Entrepreneurial Dream Team , a breakeven analysis, and a capital budget. Identify your possible sources of financing (discussed in Conducting a Feasibility Analysis ). Figure 11.19 shows a template of cash-flow needs for La Vida Lola.

Entrepreneur In Action

Laughing man coffee.

Hugh Jackman ( Figure 11.20 ) may best be known for portraying a comic-book superhero who used his mutant abilities to protect the world from villains. But the Wolverine actor is also working to make the planet a better place for real, not through adamantium claws but through social entrepreneurship.

A love of java jolted Jackman into action in 2009, when he traveled to Ethiopia with a Christian humanitarian group to shoot a documentary about the impact of fair-trade certification on coffee growers there. He decided to launch a business and follow in the footsteps of the late Paul Newman, another famous actor turned philanthropist via food ventures.

Jackman launched Laughing Man Coffee two years later; he sold the line to Keurig in 2015. One Laughing Man Coffee café in New York continues to operate independently, investing its proceeds into charitable programs that support better housing, health, and educational initiatives within fair-trade farming communities. 55 Although the New York location is the only café, the coffee brand is still distributed, with Keurig donating an undisclosed portion of Laughing Man proceeds to those causes (whereas Jackman donates all his profits). The company initially donated its profits to World Vision, the Christian humanitarian group Jackman accompanied in 2009. In 2017, it created the Laughing Man Foundation to be more active with its money management and distribution.

• You be the entrepreneur. If you were Jackman, would you have sold the company to Keurig? Why or why not?
• Would you have started the Laughing Man Foundation?
• What else can Jackman do to aid fair-trade practices for coffee growers?

What Can You Do?

Textbooks for change.

Founded in 2014, Textbooks for Change uses a cross-compensation model, in which one customer segment pays for a product or service, and the profit from that revenue is used to provide the same product or service to another, underserved segment. Textbooks for Change partners with student organizations to collect used college textbooks, some of which are re-sold while others are donated to students in need at underserved universities across the globe. The organization has reused or recycled 250,000 textbooks, providing 220,000 students with access through seven campus partners in East Africa. This B-corp social enterprise tackles a problem and offers a solution that is directly relevant to college students like yourself. Have you observed a problem on your college campus or other campuses that is not being served properly? Could it result in a social enterprise?

Work It Out

Franchisee set out.

A franchisee of East Coast Wings, a chain with dozens of restaurants in the United States, has decided to part ways with the chain. The new store will feature the same basic sports-bar-and-restaurant concept and serve the same basic foods: chicken wings, burgers, sandwiches, and the like. The new restaurant can’t rely on the same distributors and suppliers. A new business plan is needed.

• What steps should the new restaurant take to create a new business plan?
• Should it attempt to serve the same customers? Why or why not?

This New York Times video, “An Unlikely Business Plan,” describes entrepreneurial resurgence in Detroit, Michigan.

• 48 Chris Guillebeau. The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future . New York: Crown Business/Random House, 2012.
• 49 Jonathan Chan. “What These 4 Startup Case Studies Can Teach You about Failure.” Foundr.com . July 12, 2015. https://foundr.com/4-startup-case-studies-failure/
• 50 Amy Feldman. “Inventor of the Cut Buddy Paid YouTubers to Spark Sales. He Wasn’t Ready for a Video to Go Viral.” Forbes. February 15, 2017. https://www.forbes.com/sites/forbestreptalks/2017/02/15/inventor-of-the-cut-buddy-paid-youtubers-to-spark-sales-he-wasnt-ready-for-a-video-to-go-viral/#3eb540ce798a
• 51 Jennifer Post. “National Business Plan Competitions for Entrepreneurs.” Business News Daily . August 30, 2018. https://www.businessnewsdaily.com/6902-business-plan-competitions-entrepreneurs.html
• 52 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition . March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf
• 53 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition. March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf; Based on 2019 RBPC Competition Rules and Format April 4–6, 2019. https://rbpc.rice.edu/sites/g/files/bxs806/f/2019-RBPC-Competition-Rules%20-Format.pdf
• 54 Foodstart. http://foodstart.com
• 55 “Hugh Jackman Journey to Starting a Social Enterprise Coffee Company.” Giving Compass. April 8, 2018. https://givingcompass.org/article/hugh-jackman-journey-to-starting-a-social-enterprise-coffee-company/

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Business Plan Example

Writing the plan, what goes in a business plan, sample plans.

One of the best ways to learn about writing a business plan is to study the plans of established businesses in your industry.

http://www.bplans.com/sp/businessplans.cfm

Develop a Business Plan Worksheet

This worksheet describes the basic components of any business plan. Please note that every plan will be unique to its particular company.

The Executive Summary

Include crisp, clear descriptions of the following elements:

• Company history
• Company objectives
• Product/service offerings
• Competitive advantage (A persuasive statement of why and how the business will succeed)
• Projected growth for the company and the market
• Key management team members
• Funding requirements, including a timeline and details on how the funds will be used

The Products and Services

Answer the following questions in this section:

• Why is there a need for your offering?
• Is your product or service already on the market, or is it still in the research and development stage? If you are still in the development stage, what is the rollout strategy or timeline to bring the product to market?
• What makes your product or service unique? What competitive advantage does the product or service have over its competition?
• Can you price the product or service competitively and still maintain a healthy profit margin?
• What patents, copyrights and trademarks does your company currently own or plan to obtain?
• What confidential and non-disclosure protection have you secured?
• What barriers do you face in bringing the product to market, such as government regulations, competing products, high product-development costs, the need for manufacturing materials, etc.?

Include the following elements:

• A detailed description of your market
• A detailed description of your niche and why you chose it
• An explanation of the market demand for your product or service offering (Requires supporting documentation)
• What percentage of market share do you project you can capture?
• What is the growth potential of the market? (Requires supporting documentation)
• Will your share of the market increase or decrease as the market grows?
• How will you satisfy market growth?
• How will you price your goods or services to remain competitive in a growing market?

Note: If you are launching a new product, include your market research data. Likewise, if you have existing customers, provide a customer profile, detailing their purchasing habits and their buying cycle.

The Marketing Strategy

The following are some promotional options to consider:

• Social Media
• Direct mail
• Trade shows
• Public relations
• Promotional materials
• Telephone sales
• One-on-one sales
• Strategic alliances

If you have current samples of marketing materials or strategies that have proven successful for you, include them with your plan.

Discuss your distribution strategy:

• Will you mail order, personally deliver, hire sales reps, contract with distributors or resellers, or use some other method?
• What are the costs associated with your proposed delivery methods?
• How will you track the effectiveness of the methods you choose?

The Competition

Specific areas to address in this section are:

• Who are your closest competitors and what are their product/service offerings?
• Where are they located?
• What are their revenues?
• How long have they been in business?
• Who is their target market?
• What percentage of market share do they currently hold?
• Do they service a local, geographic market or a national customer base? Is that the same or different from your approach?
• In what other ways do your operations differ from each of them? How are they similar?
• What do your rivals do well? Where is there room for improvement?
• In what ways is your business superior to the competition?
• How is their business doing? Is it growing, declining or stable?
• Are there certain areas of the business where the competition surpasses you (management team, economies of scale, better distribution, volume discounts, etc.)? If so, what are those areas, and how do you plan on compensating for them?

This section of the plan should describe the following requirements of your business:

• Manufacturing

Note: Provide a rollout strategy as to when these requirements need to be purchased and implemented. In addition, describe the vendors you will need to build the business. Do you have current relationships, or do you need to establish new ones? Who will you choose and why?

The Management Team

When preparing this section of the business plan, you should address the following five areas:

• Business background of the principals
• Past experience — tracking successes, responsibilities and capabilities
• Educational background (formal and informal)
• Personal data: age, current address, past addresses, interests, education, special abilities, reasons for entering into business
• Personal financial statements with supporting documentation
• Direct operational and managerial experience in related businesses
• Indirect managerial experiences
• Who will do what and why? Who is responsible for final decisions?
• Organizational chart with chain of command and listing of duties
• A simple statement of what management members will be paid, by position
• Listing of bonuses in realistic terms
• Benefits (medical, life insurance, disability, etc.)
• Insurance brokers
• Accountants
• Consulting groups
• Small Business Association
• Local business information centers
• Chambers of Commerce
• Local colleges and universities
• Federal, state and local agencies
• Board of Directors
• World Wide Web (various search engines)

Consider the following questions in completing this section of the business plan:

• What are your current personnel needs (full- and/or part-time)? How many employees do you envision in the near future, and then in the next three to five years?
• What skills must your employees have?
• What will their job descriptions be?
• Are the people you need readily available? If not, how will you attract them?
• Will you pay salaries or hourly wages?
• Will you provide benefits? If so, what will they be, and at what cost?
• Will you pay overtime?

Financial Data

Have a certified public accountant establish your accounting system before the start of business to provide you with data in the following four areas:

• Balance Sheet – indicates what the cash position of the business is and what the owner’s equity is at any given point (the balance sheet will show assets, liabilities and retained earnings).
• Break-Even Analysis – Shows the volume of revenue from sales that are needed to balance the fixed and variable expenses. Without exception, all businesses should perform this analysis, which is based on the income statement and cash flow.
• Income Statement (also called the profit and loss statement) – Indicates how well the company is managing its cash, by subtracting disbursements from receipts.
• Cash Flow – Projects all cash receipts and disbursements. Healthy cash flow is critical to the survival of any business.

Supporting Documentation

You will need to include all documents that lend support to statements made in the body of your company’s business plan. Please be aware that this list is not complete and may vary depending on the stage of development of your business.

• Credit information (include in appendix)
• Quotes or estimates
• Letters of intent from prospective customers
• Letters of support from credible personal references
• Leases or buy/sell agreements
• Legal documents relevant to the business
• Census/demographic data

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Educational Software K-12 Business Plan

Start your own educational software k-12 business plan

Curriculum Companion Suites

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Introduction Curriculum Companion Suites (CSS) is a medium-sized software development and consulting firm focused on making the educational process more efficient and effective for K-12 schools. CCS software serves as a virtual teaching assistant for the educational process. Students can follow along with curriculum electronically through a central computer terminal at the front of the classroom.

The Company CCS keys to success are the company’s commitment to market awareness and future potential direction of the educational process, and CCS’ relationships with a large number of educational institutions and districts.

Curriculum Companion Suites is a start-up company comprised of six executives and seventy-six employees. The executives represent all functional areas, with 70 years of combined experience in the software development industry. Two majority shareholders, Andrew Christiansen and David Fields, own 80% of the company. Other investors own a minority stake. At the moment, the company does not have plans for going public, as most of the financing is raised internally. CSS is incorporated in the state of Oregon by the two majority shareholders.

Products CCS offers a suite of educational software for each grade level, from kindergarten through 12th grade. These suites are developed in collaboration with major curriculum publishers with whom CCS has established strategic partnerships.

CCS provides full installation, initial and ongoing consulting support. These services are provided as part of each software package purchase.

The Market The competitive marketplace includes only a handful of direct competitors within the learning information systems vendors segment, providing software products and installation and systems integration services to kindergarten through senior high (K-12) schools in the United States. CCS competes primarily against more traditional methods of education, training and testing, including pencil and paper testing. In addition, CCS competes with other companies offering educational software products to schools, such as International Business Machines Corporation, Apple Computer, Inc., and Mattel, Inc.

Educational institutions and school districts have not been active in searching out technical enhancements to the educational process. Rather, companies such as CCS have often utilized a more “push” type of marketing strategy. The educational community has had to be “educated” themselves on the opportunities of utilizing technical infrastructures to enhance learning processes.

Since only a handful of other companies are competing directly with CCS in this market, the company plans to develop a healthy level of market share, with a goal of 10% at the end of three years.

The target market for CCS is the urban/metropolitan educational market, as this market presents the highest level of opportunity in terms of revenues. Additionally, software installations and customizations in this market are much more feasible in terms of technical logistics and efficiencies. Thus, profitability is by far more likely in this market.

Relationships have been established with a large number of educational institutions and school districts across the U.S. Significant investments have been made by CCS to research and understand the specific needs and potential enhancements to the current educational process.

Financial Considerations CCS expects to raise a substantial amount of owner capital, and borrow a comparable amount in a guaranteed SBA 10-year loan. This provides the bulk of the current financing required.

CCS intends to deliver generous sales in the first year, with steady grown in the second and third years of the plan.

1.1 Mission

Curriculum Companion Suites aims to offer software curriculum suites to K-12 schools within the U.S. market. CCS will focus on providing solutions to enhance the educational capabilities of schools.

1.2 Keys to Success

CCS keys to success include:

• The company’s commitment to being keenly alert to the current educational environment and future potential direction of the educational process.
• CCS’ relationships with a large number of educational institutions and districts.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Curriculum Companion Suites is a start-up comprised of six executives. These executives represent all functional areas, with 70 years of combined experience in the software development industry. Two majority shareholders, Andrew Christiansen and David Fields, own 80% of the company. The bulk of outside financing will come from a 10-year Small Business Administration (SBA) loan.

2.1 Company Ownership

CSS is incorporated in the state of Oregon by Andrew Christiansen and David Fields. Other investors own a minority stake. At the moment, the company does not have plans for going public, as most of the financing is raised internally.

CSS is a start-up company that was registered in the year 2000.

2.2 Start-up Summary

Of the total start-up expenses, the lion’s share has been spent on software licenses. Estimated start-up cash requirements should be sufficient to cover ongoing expenses in the first months of operation. Christiansen and Fields have each invested heavily, with the rest of investment coming from minority shareholders. The company has also secured a 10-year SBA loan and a one-year loan from its bank. Following is a chart and table summarizing projected initial start-up costs.

CCS offers a suite of educational software for each grade level, from Kindergarten through 12th grade. These suites are developed in collaboration with major curriculum publishers with whom CCS has established strategic partnerships.

CCS provides full installation, initial, and ongoing consulting support. These services are provided as part of each software package purchase.

Market Analysis Summary how to do a market analysis for your business plan.">

CCS has a focus on K-12 schools within the U.S. market, especially schools who:

• already own educational packages from large curriculum publishers who are CCS strategic partners
• owns software that has been recently developed by CSS.

The following chart and table summarize the total market potential for CSS products.

4.1 Market Segmentation

Metropolitan Schools

Metropolitan schools often have larger student populations, with more classes, requiring more extensive and comprehensive software packages. The installations are consequently more extensive in nature.

Rural Schools

Rural schools often have relatively smaller student populations, and fewer classes. Additional customization during installations is usually necessary, as the infrastructure for computer networks is either substandard or nonexistent.

4.2 Target Market Segment Strategy

4.3 Market Needs

CCS’s research has found that educators, as well as parents of K-12 children believe that the educational process is in need of significant improvements. Children, for the most part, have been found to strongly prefer an educational environment where they can learn “hands on” using the computer in conjunction with teacher facilitation, as opposed to teacher facilitation only.

4.4 Service Business Analysis

Major competition to CSS comes not from other software developers but from traditional book publishers. In fact, one of the goals of the company is to educate its clientele about the possibilities and features of the specially-designed software that assists in the educational process. The tool CSS provides teachers with will help them become more effective and efficient in classrooms. The company believes that the novelty and added value its products provide to educators will be key buying decision criteria for the customers.

4.5 Competition and Buying Patterns

Only a handful of other companies are competing directly with CCS in this market. CCS plans to develop a healthy level of market share, with a goal of 10% at the end of three years. With the exponential increase in computer and Internet usage among the public in the last five years, this is a relatively new market. CCS has taken a lead primarily due to its intense efforts both in research and development, as well as in establishing relationships in the educational community.

The competitive marketplace includes only a handful of direct competitors within the learning information systems vendors segment, providing software products and installation and systems integration services to kindergarten through senior high (K-12) schools in the United States. Typical learning information systems consist of computer software and related training designed to improve student academic performance by increasing the quality, quantity, and timeliness of performance data available to educators and by facilitating increased student practice of essential skills.

There are a number of competing products covering a wide range of educational requirements. These include:

• Accelerated reading products–software for motivating and monitoring increased literature-based reading practice.
• Accelerated math–software aimed to increase a student’s competency across this discipline utilizing the latest techniques.
• Professional development training for educators.
• Test-generation software.

Software products offered by competitors also aim to improve student academic performance by intensifying skills practice and increasing the quality, quantity and timeliness of information available to educators.

CCS competes primarily against more traditional methods of education, training and testing, including pencil and paper testing. In addition, CCS competes with other companies offering educational software products to schools, such as International Business Machines Corporation, Apple Computer, Inc., and Mattel, Inc. Many other companies, including Microsoft Corporation and Walt Disney Company, provide educational software products.

Strategy and Implementation Summary

CCS intends to succeed by offering K-12 schools a technological tool to assist teachers in making the educational process more efficient and effective.

5.1 Competitive Edge

CCS’ competitive edge is its new ideas and first to market technologies.

5.2 Sales Strategy

The table and charts shows the level of sales CCS intends to deliver in the first year through the third year of the plan. Detailed monthly sales for the first year are in the appendix.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Andrew B. Christiansen has extensive experience in business planning and finance, including tenures as chief financial officer with ABC Conglomerate and DEF International. David E. Fields brings in experience in the area of marketing, advertising, and communications.

6.1 Personnel Plan

CSS will focus on strong product development and marketing. These are the areas where most of the investments and training will go. The table below, and in the appendix, outlines the company’s personnel plan for the next years.

Financial Plan investor-ready personnel plan .">

CCS expects to raise its own capital, and to acquire a guaranteed the SBA 10-year loan. This provides the bulk of the current financing required.

7.1 Break-even Analysis

CCS’s Break-even Analysis is based on the average of the first-year figures for total sales by units, and by operating expenses. These are presented as per-unit revenue, per-unit cost, and fixed costs. These conservative assumptions make for a more accurate estimate of real risk.

7.2 Projected Profit and Loss

The projected Profit and Loss for CCS is presented in the accompanying table. The three yearly totals are shown here, with year one monthlies in the appendix.

7.3 Projected Cash Flow

The cash flow projection shows that provisions for ongoing expenses are adequate to meet CCS’s needs as the business generates cash flow sufficient to support operations.

7.4 Projected Balance Sheet

Following is the projected Balance Sheet for CCS. Again, three years of annuals are shown below, with first year monthlies in the appendix.

7.5 Business Ratios

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