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.
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?
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:
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
- 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?
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.
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
- Financial Basics
- Saving & Investing
- Credit & Debt
- Jobs, College, & Careers
- The Economy
- Financial Literacy Course
- Streaming Videos
- The Biz Kid$ Book
- Young Entrepreneur Profiles
Business Plans for Kids
- Money Talk — Parents’ Blog
Download the Sample Business Plan for Kids
Business Plan for Kids
Teach your students how to write their own business plan and create a successful business.
More Business Planning Resources
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Home » Teens
Business Plan Templates for Teens
If you want to launch a business, you have to have a plan! Here are some templates to help you get started.
The key to any successful business is to have a plan before getting started. Mapping out the business details is instrumental in determining if this idea is worth pursuing, which can save a lot of time and resources that could be used towards a different business that would be better suited for you and your business needs and wants.
What To Include In a Business Plan
The point of a business plan is to outline your business strategy and plan your business out on paper. As your business grows and you are looking at expansion options, lenders will want a well-defined business plan to help them determine if lending to your business is the best option. When looking at business plan template packages for teens, you are looking for business plan templates that will help you transition your business ideas to full-fledged businesses that will help adults see the vision.
The 7 parts of a business plan include:
- Executive Summary
- Business Description
- Products and Services
- Market Analysis
- Strategy and Implementation of Strategy
- Organizational Structure and Management Team
- Financial Plan and Future Projections
Best Business Plan Templates for Teenagers
Bizkids’ guide to writing a business plan.
This resource helps define the business idea and determine what to charge for the products and services that you want to offer. Learn how to evaluate your competition and what they are doing with their brand to bring value to their customers to figure out ways to make your brand unique so you can stand out in the marketplace. Determine what resources you need to build your business and how much those resources will cost you. Are there ways to bootstrap the company to make startup costs cheaper? Learn about breakeven costs and how many units you have to sell before you start making a profit with your business idea.
Teen Entrepreneur Toolbox: The Small-Business Guide for Teens
This toolbox provides 8 easy to follow, actionable steps to help teens evaluate whether or not their business idea is feasible for them to start and how to go about getting started. If you don’t currently have an idea for what business to start, this provides ideas and how to get started with them! Real teens share real business experiences and advice from their own journey, which can help you avoid making common business mistakes that will decrease your learning curve and get motivation and encouragement from teens that have faced similar challenges while building their businesses. Learn about marketing techniques that work, how to provide top-notch customer service, money management of profits, and goal setting for future growth.
Home Sweet Road’s My Business Plan
This one-page business plan is free and easily downloadable. It can be printed out and hung on the wall for easy reference. The questions asked in this document are thought-provoking and help teens determine who the target audience is for their products and services. Defining the target audience will help establish a solid marketing plan that conveys the value of the product offering while making sure that the customer’s needs are being met. Customers want to buy from businesses that understand their needs and provide an ideal solution.
Proverbial Homemaker’s Family Business Plan Guide
Families can work together to build a business that kids and teens can run themselves and are passionate about running using this comprehensive business template and associated resources. Consider first why you want to start a business and why you are choosing THIS specific business. Understanding the reason for selecting that business idea builds confidence and helps maintain the passion for the company as time goes on. Create a monetary budget based on projected profits and figure out what price is best to charge for your products and services to secure sales from your target market. Set goals and manage your time, then figure out what laws are applicable for your business venture.
Learn how to conduct market research to see if there is a need for the services you want to provide before starting by conducting surveys or soft test launches. Find out where to source materials to make products and how much that will cost.
Boss Club Kid Entrepreneur Kit
This kit is literally a business in a box, so kids and teens can get started right away as soon as they have it in their hands! Choose your kit and create the following businesses:
- Homemade dog treats
- Specialty cake pops
- Luxury bath bombs
- Delicious fudge
- Handmade soaps
If you are homeschooling, this kit counts as a homeschooling resource that you can receive credit for completing, which is a fantastic additional perk of using this tool. The intended audience is kids and teens ages 11-18, and provides over 100 videos with step-by-step instructions on how to set up and grow a business from the ground up. So far, over 100 schools across the United States are using this option for their students to learn how to set up a business that they are passionate about running. Getting teens started young on their entrepreneurial journey has been found to build self-esteem and teach decision-making early on that helps young adults make solid decisions in their lives as they mature. The benefit of this specific program is that it was created by entrepreneurs for entrepreneurs and not created by scholars that don’t have practical business knowledge. There is a quiz on their website that takes 30 seconds and helps you decide what business is best for your needs.
Small Business Administration
This is a great government resource for teens who want to learn about business for free and about what resources are available from the government, such as loans and business coaching from experienced business owners in your community. There is no absolute right or wrong way to write a business plan in business, and you can choose how your business will run or how much money you need to start it. This resource allows you to walk through your business idea and plan with an experienced business owner that can talk through the pros and cons of what you feel is the next step for your business, from expansion to new investors to additional product offerings. This resource offers two different business plan templates that walk you through example business plans.
Solid Gold Biz Plan
This free business plan template from Money Prodigy discusses the author’s mistakes during her first 7 years in business and provides insights into how she would have conducted her business affairs differently if she had to start over again knowing what she knows now. The primary goal of this template is to find a problem that your business will solve. Many new entrepreneurs focus on the product or service but not on the problem it will solve in the marketplace. The goal should be to identify the problem and then develop the solution that will be offered as a product or service by your company. After determining the primary problem, she focuses on how to best deliver the solution and how much it will cost to maintain the delivery of the product or service.
Shark Tank Lessons in Business and Entrepreneurship from Scholastic
A free lesson plan with a teacher’s guide that can be used in a group setting or as a family! Topics covered include entrepreneurship basics, writing an effective business plan, crafting persuasive pitches for investment presentations, and how to find a great business mentor. The target age group is grades 6 to 12.
Shark Tank Marketing Plan
A worksheet template that focuses on the target demographic for your business and the motivation that that demographic would have to buy a product or service that you are offering so you can establish the best way to market to them. Games are encouraged with this marketing package because this helps draw out ideas in fun ways that promote creativity and growth. Business is about finding creative solutions to problems and pivoting the company into new arenas when it becomes necessary for growth. Keeping an active marketing plan up to date as the business grows is key to expanding when necessary or finding innovative ways to keep customers engaged with your brand.
Shark Tank Analysis Worksheet
Use this worksheet when evaluating businesses to learn what investors are looking for when assessing whether or not to invest in a business. Understanding what investors are looking for in a management team, mission, vision, product/service, research and development, and strategic implementation will help you create that within your own business to make your foundation strong.
A strong business plan that is well defined will take even the novice entrepreneur to the expert level of business in no time with the proper preparation. Using a business plan template in areas of planning, marketing, product development, and strategy will assist in building a business that can be bootstrapped and stood up quickly to test the business out in ways that require little startup capital.
- Entrepreneurship for teens
- How to earn money for teens
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New School Business Plan
Step 1: school overview, step 2: executive summary, step 3: school services.
- Literacy services
- Numeracy services
- Meeting accreditation standards
- Foundations in science and mathematics
- Foundations in geography and history
- Giving extracurricular activities
- Giving books and school materials
Step 4: Mission Statement and Vision Statement
Step 5: job description, step 6: swot analysis.
- Strengths – What is the ace of your school against your competitors?
- Weaknesses – On what aspects are your school lacking?
- Opportunities – Where does your school excel in teaching?
- Threats – What can make a student leave your school?
Step 7: Market Research
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