Post on 23-Dec-2015
Business Basics: A Business of Our Own
Junior Achievement of British Columbia
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
A little about me…Add your own images
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
What is Junior Achievement?• International, not-for-profit organization• Teaches young people about business• You get to run your own real business!
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Let’s Run a Business!Visit #1: What is a business/ business planVisit #2: Marketing/AdvertisingVisit #3: Finance Visit #4: Pricing strategy
$$ SALE DAY $$ Visit #5: Wrap up – was your business successful?
BUSINESS EDUCATION FOR YOUTH | jabc.org
Business of Our Own
Let’s Learn About You!
• Fill out your name tent in BIG writing• On Back: What kind of business would you
like to run?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Business
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Why do businesses exist?
• Provide goods or services for sale
• Provide jobs• Fill the needs of people in the
community and around the world
• Other?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
What is a retail business?
• Sells products or services to the end-user• Are the following retail businesses?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Challenges and opportunities running your
own business
• Young Entrepreneurs Video • What are the BEST things about being an
entrepreneur?• What are some challenges?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Forming Teams…1. Set-Up Team2. Sales Team3. Merchandise Team4. Promotions Team5. Bookkeeping Team
What kind of skills areimportant within these teams…?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Teamwork &Team Leaders
• What are important skills team leaders/manager’s must have?
• What challenges do you think team leaders/managers will have?
• Why is team work important in a business? T.E.A.M!• Who wants to be a team leader? 30 second ‘elevator’
pitch! • Leaders: Each team leader pick 5-6 team members
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
What is a business plan?
• Goals of the business• Products or services it will sell• Target customers• How the business will be financed• How it will sell the products or services• How it will make decisions and solve problems• To estimate income and expenses
“If you fail to plan, you plan to fail!”
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Profit = Income - Expenses
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Business Plan 1
• Turn to Page 4, Business Plan 1 in your workbook Let’s Brainstorm:• Sale Date? • Philanthropy – where will your profits go?• Business is owned and operated by:• With advice from:• Location Ideas -1st Choice / 2nd Choice
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Business Plan 2
• Turn to Page 5, Business Plan 2 in your workbook • Let’s Brainstorm:• Products or services to sell – considerations:
• How will you raise the money/get the merchandise to sell?• Who are your customers?• Other events or sales going on at school? • Only a few weeks to plan…
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Some Ideas! Items: • Handmade bracelets and other jewelry • Stationary and school supplies• Balloon o-grams• Bath products - lotions - soaps• Hand sanitizers• Picture frames• Tie-dyed socks, t shirts, muscle shirts...• Travel mugs• Greeting cards, special occasion cards• Magnets• Spring bulbs• Painted plant pots• First aid kits (make your own)• Book markers• Reusable Grocery bags - painted• Jewellery boxes hand made and painted• Used books, toys, video games...
Why will the product/service be profitable?
• Holiday themed ornaments• Flower and greeting card delivery• Cookbook featuring student/teacher recipes• Temporary Tattoos• Raffle Baskets• Tickets to an after-school movie/concession
Services:• Locker cleaning • Photo booth/dress up • Carnival style games or holiday-themed event
Food Items:• Healthy foods - approved by the Healthy Guidelines in
School• Low fat healthy cookies• Hot chocolate made with milk• Popcorn
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Planning & Deadlines!
• Each team: List tasks and set deadlines • Checklist on pages 10 &11 in your student workbooks • What should you do if you think you won’t make a
deadline?• Everyone is counting on each and every person to be
successful • Wrap up • Thanks and see you next week for our Marketing lesson
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Lesson #2
Marketing &Promotions
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Who are they?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
What are some ways that Businesses target market?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Promotions Team & Sales Team!
Everyone complete Lesson 2 in workbook
What skills areimportant for thepromotions/sales team?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Lesson #3
Financial Recordkeeping &
Teamwork
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
$$ PROFIT $$ = INCOME – EXPENSES
Income and Expenses Projection=
An estimate of future income and expenses
What are some examples of expenses?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Together Everyone Achieves More•Examples: Car company, software company•Team goals•Appreciation and recognition for each team members’ contributions
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Lesson #4
Pricing & Sales
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
• Why is it important that businesses keep a detailed records of sales?
• Why is a cash receipt important?
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Good Luck&
Have Fun!
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Lesson #5
Reviewing the Business Plan
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
• Updates from the Bookkeeping Team• Total expenses• Total profit• Net profit / loss
BUSINESS EDUCATION FOR YOUTH | jabc.org
A Business of Our Own
Recap
1. Business Plan
2. Management decisions: location, staffing, choice of
merchandise
3. Target Market: 4P’s
4. Financial projections covering expenses and profit
5. Following business plan and carrying out sales
6. Things to consider for another plan
BUSINESS EDUCATION FOR YOUTH | jabc.org
Our Business World
CONGRATULATIONS!!
Thank you for your time