Download Entrepreneurship SAE - Killingly Public Schools

Entrepreneurship SAE’s
Creating A Business Plan
Who is an Entrepreneur?
 An Entrepreneur is a person
who organizes and manages a
business, assuming a risk for
the sake of profit. Any person
(any age) who starts and
operates a business is an
entrepreneur.
What is an Ag
Entrepreneurship?
 The Entrepreneur plans, implements, operates, and
assumes financial risks in a farming or agricultural
business. In Entrepreneurship programs, the student
owns the materials and other required inputs, and
keeps financial records to determine profits.
Entrepreneurship Examples
Service
Product
 Lawn mowing
 Raise & Sell Fish Bait
 Pet Sitting
 Vegetable Farm
 Fishing Guide
 Goat Soap
 Equipment Repair
 Wool Products
Entrepreneurship
Advantages
 You are your own boss
 Enjoy the profits from
your efforts!
 Sense of pride in your
business
 Flexibility in your work
schedule
Disadvantages
 Need to put in long
hours
 Start up money is
necessary
 May loose money the
first few years
 Must be self-motivated
Why do you need a strong
business plan?
1. To see if your business ideas will work.
2. To outline each area of the business.
3. To set up milestones.
4. To learn about the market.
5. To determine your financial needs.
6. To monitor your business.
7. To help attract customers.
7 Parts of a Business Plan
1. Executive Summary
2. Product Description
3. Market Analysis
4. SWOT
5. Marketing & Sales
6. Goal Setting
7. Financial Plan
Part 1: Executive Summary
 Your business name & location
 A brief explanation of customer needs and your product
or services
 Your Businesses Vision or Mission
 An introduction of yourself (and your team if you have
one)
Part 2: Product Description
 Research & Development
 What do you still need to learn to be able to create your
product or offer your service?
 Do you need to experiment with a “magic formula” to
make your product perfect?
 Details about your products or services
 What will you be selling? List all products and services
 What products do you use to create your final product?
Part 3: Market Analysis
 Research, which should
focus on:
 The industry- What are the
current trends?
 The Target Market- Who are
you trying to sell your product
to?
 The competition in the target
market- Who else is offering
your product/service? This
can be done by surveying
future customers, performing
phone interviews, etc.
Part 4: SWOT Analysis
Part 5: Marketing & Sales
 Advertising Strategy
 Where are you going to
advertise?
 Sales Strategy
 How do you plan on making
sales?
 Identify & Create forms of
communications:
 Flyers, Newspaper/Radio Ads,
Business Cards
Part 6: Goal Setting
 Set SMART Goals for your
business
 How many items do you
want to sell? By when?
 What skills do you want to
learn through your
business?
 When do you want to run
advertisements?
Part 7: Financial Plan
 Projected Expenses & Incomes
 What money will you need to spend to create an inventory?
 What equipment do you need to purchase or lease?
 How much do you plan on selling each year? (You should
create at least a three year plan)
 Provides a budget for all marketing plans (including how much
money it will cost to print your flyers/ business cards and run any
ad’s)
 Will you require a loan?
 If yes, from whom? What is your plan for paying the loan back?
Now What?!?!
 If you plan on having an Entrepreneurship SAE, it is
required to create a business plan!
 Starting in January, Mrs. Knowlton will have after
school hours to help students who want to have an
entrepreneurship, begin writing their business plans!
 Every Tuesday in January (except exam week); from 2:304:00pm
 All hours spent writing and researching for your business
plan count as SAE hours!
 If you want to learn more about becoming an
entrepreneur, complete the webquest for SAE
Exploratory hours!