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Email your business plan in pdf format to : email@example.com
Email Subject Line Must have: 2019 Business Plan Competition Submission - (insert your name)
Due Date: Friday, November 29, 2019
The business plan document should include your name, school, grade, and the following content:
Executive Summary - This section is the beginning of your plan and should discuss the overall highlights and objectives of the plan being submitted.
Business Description - You will not have to register your business for this competition; however, we would like for you to state how in the future you would organize your business and why. By this we mean:
- Will your company be incorporated, a Limited Liability Corporation etc.
- Explain your business in this section.
Market Analysis - (Research to see if there is a need for your business. Discuss the industry; Discuss your results)
Competitive Analysis - (Research others who may offer similar or identical services. Discuss your plan to differentiate your business from theirs; Can you provide your services/products in a more innovative way or are you less expensive than others in the same industry?) How will you compete in the market?
Description of Management and Organization - (who runs your business, tell us about those who manage your business) - Hint: look up an org chart. If you are the only person in your business, then explain the following in this area:
- How do you control the quality of your products/services?
- How do you make sure your products/services are delivered on time?
- How do you ensure that all money earned or invested in your business is properly applied to the growth of your business? How do you track your revenue and expenses?
Breakdown of Your Products and Services - Describe your products/services in detail.
Marketing Plan - How do you plan to inform the market about your business? How do you differentiate your business from others? How do you connect with customers? How do you plan to get customers to refer your business? How will you establish your brand. Hint: Look up company branding
Sales Strategy - How will you sell your products/services (internet, word of mouth, a store, etc)? How will you get products to your customers? Discuss the method.
Finance - How do you determine how much you need to operate your business? How do you price your products/services? What agencies require a fee for you to operate a business? How do you create your business’ budget? Hints: in the future investigate registering your company with the Secretary of State’s office as well as IRS laws; investigate business license requirements in the county and city. You will not be required to do any official registering for this competition. This directive is for information only.
Please work with a parent, guardian, or teacher for any help understanding the instructions. The internet, a parent-approved business professional, and / or teacher are great sources for information.