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

Competition

Competitive Advantage

• List 2 reasons why customers will purchase your product or service over your competitor’s. (Go beyond lowest price.)

Competitor Price Quality Greatest Strength

Greatest Weakness

[ex. Local seller] $

[ex. National chain] $

$

4

Marketing Mix

• Price: – [Should be an explanation of why you chose your

price]• Place:

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

– Explain the benefits and features of product• Promotion:

– Explain the strategy to promotions you will use

5

Marketing

Phase Method Description Cost

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

Where?How many?When?

How much will it cost?

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

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

6

Economics of 1 Unit (Retail/Wholesale Businesses ONLY)

Definition of One Unit

Selling Price per Unit $ (A)

COGS Per Unit $ (D)

Variable Costs Per Unit

(outgoing shipping, packaging, commissions)

$ (E)

Total Cost of Sales (D+E) $ (F)

Gross Profit Per Unit (A-F) $

7

Cost of Materials/Direct Labor (For Service and Manufacturing Businesses ONLY)

Definition of One Unit

Cost of Sales Per Unit

Direct Labor

(Labor Cost per Hour) (A)

Time (in hours) to make 1 unit (B)

Direct Labor Cost Per Unit (A)*(B)

$ $

Total Direct Labor Per Unit $

Material Description 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 $ (A)

Direct Labor Per Unit (if applicable) $ (B)

Materials Per Unit(if applicable) $ (C)

Total COGS Per Unit (B+C) $ (D)

Variable Costs Per Unit

(outgoing shipping, packaging, commissions)

$ (E)

Total Cost of Sales (D+E) $ (F)

Gross Profit Per Unit (A-F) $

9

Time Management Plan

Business Schedule for a Typical Week

Entrepreneurship Hours

School Hours

Work Hours (ex.part time job)

Free-Time Hours

10

Average Monthly Fixed CostsType of Fixed Cost Monthly Cost

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

$

utilities $

salaries of employees $

advertising $

insurance $

interest $

rent $

depreciation $

other $

Total Monthly Fixed Costs $ 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

Monthly Sales Projections Month Units Sold

January

February

March

April

May

June

July

August

September

October

November

DecemberTotal =

0

10

20

30

40

50

60

Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec

Units sold

(Double click on chart to add information)

Monthly Break-

Even Units (Chapter 20)

Monthly Fixed Costs/Gross Profit Per

Unit

13

Selling Price Per Unit $ (A)

# of Units Sold (B)

Total Sales (A*B) $ (C)

Total COGS (COGS per unit * B) $ (D)

Other Variable Costs (Other variable costs per unit * B

$ (E)

Total Variable Costs (D+E) $ (F)

Gross Profit (C-F) $ (G)

USAIIRDO (Yearly) $

Other Costs/Unforeseen $

Total Fixed Costs $ (H)

Profit before Taxes (G-H) $ (I)

Less Estimated Taxes @25% (I * .25) $ (J)

Net Profit (I-J) $

Projected Yearly Income Statement

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? Cost of Item$

$

$

$

CASH RESERVE covering 3 months of fixed costs $

Estimated TOTAL START-UP INVESTMENT $

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 Return

Savings

CD

Stock Market

Entrepreneur

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]

- [enter long term goal]

• Educational - [enter short 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