Y.E.S. for Arkansas Teacher`s Manual

Transcription

Teacher
Training Manual
2015-2016 Important Dates:
August 17, 2015
Intents to Compete Open
November 17, 2015
Business Plans Due by 5:00 p.m.
October 30, 2015
Intents to Compete Due by 5:00 p.m.
December 16, 2015
Top 25 Finalists Announcement
November 2, 2015
Business Plan Submissions Open
January 22, 2016
Y.E.S. Expo Day at Park Plaza in Little Rock
EM
PO
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ING E N TR EPR E
SINCE 1957
arcapital.com/aeaf/yes
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Y.E.S. FOR ARKANSAS
Thank you for your interest in the Y.E.S. for Arkansas business plan competition for grades 5-8.
Arkansas Economic Acceleration Foundation (AEAF) hope that you will find this teacher’s manual
helpful as you work to guide your students through the business planning process.
Please refer to the Y.E.S. for Arkansas website, arcapital.com/aeaf/yes/, for the most up-to-date
information. Should you have questions or need more information, please contact AEAF Project
Specialist Shannon Frazeur at [email protected] or AEAF Executive Director Marie Bruno at
[email protected], or call 501-374-9247 or 800-216-7237.
Arkansas Economic Acceleration Foundation
An affiliate of Arkansas Capital Corporation Group
200 River Market Ave., Suite 400
Little Rock, AR 72201
arcapital.com/aeaf/
© 2015 Arkansas Economic Acceleration Foundation. All rights reserved.
Document last updated 17 August 2015
Y.E.S. FOR ARKANSAS
Table of Contents
Chapter 1: About Y.E.S. for Arkansas...................................................1
What is Y.E.S.?............................................................................................................ 1
How Competing in Y.E.S. Correlates with the “Four Cs”............................................... 3
Chapter 2: Y.E.S. Competition Rules....................................................5
Chapter 3: Registration and How to Create iStart Accounts.................6
Chapter 4: Submitting Intents to Compete..........................................8
Chapter 5: Writing the Business Plan..................................................9
The Purpose of a Business Plan................................................................................... 9
Business Plan Contents..............................................................................................10
The Business Plan – Section by Section......................................................................10
Business Plan Format............................................................................................................. 10
Company Overview............................................................................................................... 11
Product or Service Description............................................................................................... 12
Marketing Strategy................................................................................................................ 12
Financials.............................................................................................................................. 13
Income Statement.................................................................................................... 13
Statement of Funds Needed...................................................................................... 19
Chapter 6: Finishing and Submitting the Plan....................................20
Chapter 7: Judging the Plans.............................................................21
Chapter 8: Top 25 Finalists and Y.E.S. Expo Day.................................22
Marketing Piece Requirements..................................................................................22
Important Times and Locations.................................................................................23
Booths......................................................................................................................23
Expo Day Judging......................................................................................................24
Best Marketing Piece Award.................................................................................................. 24
Best Retail Booth Display....................................................................................................... 24
Chapter 9: Awards and Cash Prizes...................................................29
Appendix 1: Lean Canvas..................................................................30
Appendix 2: Teacher Resources and Other Organizations..................32
Appendix 3: Sample Y.E.S. Business Plans.........................................34
Y.E.S. FOR ARKANSAS
CHAPTER 1: ABOUT Y.E.S. FOR ARKANSAS
CHAPTER 1:
About Y.E.S. for Arkansas
arcapital.com/aeaf/yes/
What is Y.E.S.?
The Youth Entrepreneur Showcase, or Y.E.S, for Arkansas is a statewide business plan competition
for grades 5-8.
The Arkansas Economic Acceleration Foundation (AEAF), an affiliate of the Arkansas Capital
Corporation Group, created Y.E.S. in 2005 to introduce young Arkansans in grades 5-8 to the
opportunities of entrepreneurship.
The competition is designed to encourage Arkansas’s students to act upon their ideas and talents
in order to create tomorrow’s businesses. By requiring students to create a business plan for
the competition, students are encouraged to apply what they learned in school to a real-world
setting. In short, Y.E.S. provides Arkansas’s students with a forum from which they can experience
entrepreneurship.
As of 2015, more than 7,000 students and teachers have competed for more than $70,000 in cash
awards, trophies, and medals.
Students who compete in Y.E.S. are taking part in a project-based learning activity that requires
higher-order thinking skills. They work in teams to think of a business idea that could make money,
which also encourages them to think about innovation and what their futures could be.
Each team is charged with creating its own business plan to submit for the competition. The top
25 teams chosen as finalists are invited to Park Plaza in Little Rock on January 22, 2016, for Y.E.S.
for Arkansas Expo Day, the final round of the competition. Teams will exhibit and market their
concepts and products to judges and Park Plaza patrons. The event concludes with presenting
awards to the winners.
Teachers say that competing in Y.E.S. challenges students to use their core reading, writing, spelling,
and math skills. The process also brings out their students’ communication, collaboration, critical
thinking, and creative skills – key skills that are part of 21st century education.
Teachers tell AEAF that some of the best business ideas come from students who are not as eager
to participate in group activities, or who do not have the greatest writing skills. All AEAF-sponsored
business plan competitions promote the opportunity for students to work in teams and learn that
each member has something important to bring to the effort. As they work through the business
planning process, they learn how to support each other’s strengths and weaknesses. Teachers
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Y.E.S. FOR ARKANSAS
also tell AEAF that many students discover they have ideas and skills that they didn’t think were
important. They are proud of themselves and take pride in what they have accomplished.
Y.E.S. for Arkansas is a true project-based activity. Teachers start Y.E.S. by posing these questions:
“Is there something you use every day – or some other product or service out there could be
made better or perform better? How? Can it make money?” With discussion, business ideas soon
begin to surface. Be careful not to discourage students who put forth ideas that may seem useless
or irrelevant.
The next step is market research. Students need to ask others outside the classroom if they
think their idea is a good one. They can ask teachers, other classmates, family members, friends,
neighbors, etc. and may also choose to do research in the library and on the Internet. If ideas are
not well-received, encourage and challenge students to “pivot” and come up with other options.
As business ideas evolve, take cues as to which ideas are ready for business planning and begin
assembling teams.
All Intents to Compete and business plans are submitted through yesforarkansas2016.
istart.org. iStart.org is a business plan management system powered by the Ewing Marion
Kauffman Foundation. To participate in Y.E.S., each sponsor will need an iStart account. To
sign up, visit the above link.
The Intent to Compete round in the 2015-2016 competition opens Monday, August 17, 2015.
An intent simply lets us know that you are thinking about competing; there is no obligation
to submit a plan if you change your mind. The deadline to submit an Intent to Compete is
5 p.m. October 30, 2015.
The business plan submission round opens Monday, November 2, and plans are due no later
than 5 p.m. Thursday, November 17. More information about registering and submitting
intents and business plans begins on page 6.
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Y.E.S. FOR ARKANSAS
How Competing in Y.E.S. Correlates with the “Four Cs”
In 2002, the National Education Association (NEA) and educators worldwide began work to create
a “Framework for 21st Century Learning,”1 to determine what skills were most important for K-12
education in today’s world. Over the years, a list of 18 identified skills were honed down to four
that nearly all educators agreed were the most important, now known as the “Four Cs” – Critical
Thinking, Communication, Collaboration, and Creativity.
Here are some ways the Y.E.S. competition enhances the Four Cs:2
1. Critical Thinking
• Use a wide variety of idea-creation techniques (such as brainstorming business
ideas)
• Work through the needs and problems of a business
• Determine financial needs, calculate expenses
• Interpret and analyze information and draw conclusions
• Solve different kinds of problems in both conventional and innovative ways
• Reflect critically on learning experiences and processes
• Able to view challenges and failure as opportunities to learn
2. Communication
• Communicate ideas effectively among team members to create the business plan
• Utilize and refine written communication during the course of writing the business
plan
• Listen to teachers and team members
• Identify and ask significant questions that clarify various points of view and lead to
better solutions
• Explain their product’s benefits to judges, Park Plaza patrons, and potential
customers during Expo Day
• Utilize media and technology
1 Preparing 21st Century Students for a Global Society – An Educator’s Guide to the “Four Cs.” National Education Association.
www.nea.org/tools/52217.htm.
2 This list is taken in part from a July 2014 presentation by Y.E.S. for Arkansas sponsor and Omaha Schools teacher Pam Hopkins,
and rubric from Ozarks Unlimited Resource Educational Service Cooperative. www.oursc.k12.ar.us.
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Y.E.S. FOR ARKANSAS
3. Collaboration
• Demonstrate ability to work effectively and respectively with other students and
teachers in writing a business plan
• Assume shared responsibility for collaborative work, and value the individual
contributions made by each team member
• Teams are encouraged to seek outside mentors with expertise
• Exercise flexibility and willingness to be helpful in making necessary compromises
to accomplish common goal
4. Creativity
• Use brainstorming and other idea-creation techniques
• Create the idea for the business
• Demonstrate originality and inventiveness in work
• Elaborate and refine their ideas
• Craft the marketing pieces and booths at Expo Day
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Y.E.S. FOR ARKANSAS
CHAPTER 2: Y.E.S. COMPETITION RULES
CHAPTER 2:
Y.E.S. Competition Rules
http://arcapital.com/aeaf/yes/yes-rules/
1. Y.E.S. for Arkansas is open to any Arkansas elementary, middle, or home-schooled student
currently enrolled in grades 5-8.
2. Team members can be in the same grade or a combination of grades 5-8. In cases where
participating schools also have 9th-grade students, any teams formed that include 9thgrade students will need to compete in the Y.E.S. for Arkansas 2.0 competition.
3. Team size is limited to six members.
4. Teams can be from classrooms, after-school clubs and organizations, churches, etc.
5. All teams must be sponsored by a 5th - through 8th-grade teacher. AEAF will consider a
sponsor who is not a teacher, but this must be approved by AEAF before business plans are
submitted. Please notify AEAF at [email protected]. The proposed sponsor cannot
be a parent or other relative of any team member.
6. Sponsors may have more than one team in the competition.
7. The business plans must reflect that the business idea is a for-profit product or service.
Non-profit concepts are not eligible. The product or service cannot be fictional in nature.
8. Each team may submit only one plan in the competition.
9. Business plans must represent the original work of each individual and team.
10.Not every circumstance can be anticipated. AEAF reserves the right to disqualify any team
that violates the rules, regulations, or the spirit of the competition. All Y.E.S. for Arkansas
competitors and sponsors are expected to conduct themselves in an ethical manner.
Submissions and judging for Y.E.S. for Arkansas are processed through iStart.org, a business plan
management system powered by the Ewing Marion Kauffman Foundation. To participate, the
sponsor must create an iStart account.
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Y.E.S. FOR ARKANSAS
CHAPTER 3: REGISTRATION AND HOW TO CREATE iSTART ACCOUNTS
CHAPTER 3:
Registration and
How to Create iStart Accounts
arcapital.com/aeaf/yes/yes-registration/
To compete in Y.E.S. for Arkansas, sponsors must create an iStart account. If you plan to sponsor
more than one team, you will be able to register all your teams through this account.
Go to: yesforarkansas2016.istart.org.
(As you move through the setup process, be aware that “Account” and “Profile” mean the same
thing.)
At the upper-left side of the page, you will see an orange button with “Log In / Register.” Click on
this button. A box with a gold strip across the top will pop up on the screen.
If you are new to iStart:
Click the “Create User Account” button on the left side of the box. A page, “Register for a new iStart
User Profile” will appear. For the purposes of the Y.E.S. competition, you need to only complete
the information marked with an asterisk (*):
•
•
•
•
•
•
E-mail Address
Password and Confirm Password
First and Last Names
Gender
Phone Number
Country, Address, City, State, Zip Code
For the “Roles and Communications” section, the first question asks you to “Select one or more
role to describe your relationship with iStart.” Y.E.S. has no preference on this – it’s your choice.
Uncheck the box for “Notify me via e-mail on … New Competitions,” unless you want to receive
iStart email.
Next, click “I agree” in the Terms and Conditions, type the letters shown in the image, and click
“Save.” iStart will send a confirmation code to the email address you provided. You may either click
on the link in the email or enter the validation code given in the email to confirm your account.
After confirming your account, you will be taken to your iStart profile dashboard.
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Y.E.S. FOR ARKANSAS
CHAPTER 3: REGISTRATION AND HOW TO CREATE iSTART ACCOUNTS
If you have an existing iStart account:
Fill in the information on the right side of the box, “Returning to iStart.” Enter the email address
and password used when setting up the account. If you forgot your password, click on the “Forgot
Password” link and follow the prompts to get a new password.
(If you have a new email address, you will need to create a new account. Follow the steps above
as if you are new to iStart.)
Now that you are set up in iStart, the next step is to file an “Intent to Compete” for Y.E.S., whether
you plan to compete or not. Submitting an Intent to Compete does not obligate the sponsor or
teams to the competition.
A few more notes about iStart:
Depending on your Internet connection speed and/or traffic on the iStart website, pages on iStart
may be occasionally slow to load. Also, you will be prompted occasionally with a pop-up box
asking you to consider publishing your business plan publicly on iStart, or that you can “update
your iStart Business Idea to opt-in, include logos, photos, videos and other information.” Again,
these are not requirements of the Y.E.S. competition, but you can choose to do them if you wish.
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Y.E.S. FOR ARKANSAS
CHAPTER 4: SUBMITTING INTENTS TO COMPETE
CHAPTER 4:
Submitting Intents to Compete
arcapital.com/aeaf/yes/yes-intents-to-compete
Now that you are set up in iStart, the next step is to file an Intent to Compete for Y.E.S., whether
or not your team plans to compete. The number of intents gives AEAF an indication of how many
judges will be needed. Submitting an Intent to Compete does not obligate the sponsor or teams
to submit a plan to the competition, but we certainly hope you will.
Deadline: 5:00 p.m. Friday, October 30, 2015
1. Go to yesforarkansas2016.istart.org and log in.
2. Once logged in, go to the top right hand corner of the page and click on “Profile.”
3. Find the tab that says, “Business Ideas.” Click on “Register New Business / Concept.” You
will see a page with a box asking you to “Complete your Listing for iStart’s Public Directory.”
4. For the purposes of completing the Intent to Compete process, you only need to fill in the
“Business / Concept” and “Business / Concept Summary” boxes.
5. The “Business / Concept” is the name of your business plan. If you do not have a business
plan finalized yet, it’s OK to enter a generic name.
6. The “Business / Concept Summary” is a summary of your business plan idea. If you do not
have a business plan yet, enter a few brief words.
7. After you fill out these two boxes, that’s it. You are not required to fill out any other
information on the page, including the option at the bottom to “Display Your Business on
the iStart Public Directory,” unless you want to do so.
8. Click “Save” at the bottom of the page. You will then be taken to the iStart Competition
Participant Agreement. Feel free to read the agreement if you like, but you can go ahead
and click “I Agree.”
9. You will then be taken to an “Application Page,” where you will be prompted to complete
sponsor, team member, and school information. If this information is not known by the
Intent to Compete deadline, submit at least one name and the school information. All
team names do not need to be finalized until the business plan is submitted.
You will then be taken back to your profile page. You should see the business name you just
entered in the “Business Ideas” tab. Nothing further needs to be done.
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Y.E.S. FOR ARKANSAS
CHAPTER 5: WRITING THE BUSINESS PLAN
CHAPTER 5:
Writing the Business Plan
arcapital.com/aeaf/yes/yes-guidelines
Thinking about starting a business can be exciting. The reality of such a venture, however, tends
to become even more real once an entrepreneur sits down and puts his or her thoughts on paper.
Some entrepreneurs are likely to think: Why should I sit down and write about my business
when I can save myself some grief and just start it? And it’s true. Writing a business plan is not a
requirement to start a business. However, entrepreneurs who have a well-written plan can use it
to indicate they have done their homework and are better prepared to launch the business.
Although there is no one formula for writing a business plan, there are some general guidelines
that provide entrepreneurs with a starting point. A good business plan is concise and provides
potential lenders and others with information. An entrepreneur should add his or her own twist
to illustrate the uniqueness of their product/service when writing the business plan.
Because the business plan reflects the entrepreneur’s business, it is highly recommended that the
document look professional.
The Purpose of a Business Plan
Entrepreneurs write business plans for different reasons:
• To seek financing. Based on the quality of the business plan and the entrepreneur’s
business pitch, investors can determine whether or not to invest in that business.
• To save time and money. Proper financial planning for a business will help the entrepreneur
better decide if they really want to go into a business. By sitting down to calculate the
numbers, the entrepreneur can make sure they are getting the most out of their time and
money.
• To have a plan. Many entrepreneurs may find that although no plan is perfect; any plan is
usually better than no plan.
An effective business plan communicates the company has an identity; has a defined product/
service; has a good strategy to reach potential users; and can make money. If the product/service
is innovative and/or creative, this can provide the company’s product with a unique edge.
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Y.E.S. FOR ARKANSAS
Business Plan Sections
Please assemble the business plans in the following order:
1.
2.
3.
4.
5.
6.
7.
Cover Page
Table of Contents
Company Overview
Product or Service Description
Innovation/Creativity
Marketing Strategy
Financials
The Business Plan – Section by Section
Business Plan Format (worth up to 5 points)
Business plans must be a minimum of 5 pages and no more than 10. (The cover page and table of
contents are not counted as part of the page number limits.)
With the exception of the cover page and the table of contents, all pages must be typed in 12-point
Times New Roman or Arial font and pages must be numbered.
Paragraphs can be single- or double-spaced.
Page numbers must be included on each page (except the cover page and the table of contents).
Cover Page
The business plan may provide one of the first impressions to a potential investor. For this reason,
it is highly recommended that the document looks professional. One important aspect of this is
the cover page.
The cover page must include:
•
•
•
•
•
Name of the company the business plan represents
Name(s) of all team members
Sponsor’s name, title, email address, and phone number
School or organization’s name and full mailing address
A photo, drawing, or graphic of the product or service. Please ensure the image is saved as
a smaller file before placing it on the cover page.
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Y.E.S. FOR ARKANSAS
Table of Contents
The table of contents adds to the professionalism of the business plan, and makes it easier for the
judges to read the plans. The table of contents should include all of the important business plan
headings.
Company Overview (worth up to 10 points)
The company overview section provides a snapshot of what the company is about. Consider
having the team write this section last, because the nature of the company may change as the
students go through the planning process.
The company overview should include the following information:
Mission
What is the purpose of the product or service? What do you want the product or service to do?
Company History
How did the team come up with the idea for the business? When did the team create the idea?
Goals
Where do you want the company to be in the future? Goals are general directions that are not
specific enough to be measured. Think of goals as the treasure at the top of a stairway, and the
objectives as the stairs.
Objectives
Where do you want the company to be one month from now? Six months from now? One year
from now? The objectives describe how the company plans to reach its goals. Objectives are
more measurable than goals, meaning that you can look back and ask, “Did I achieve this?” One
example of a company objective may read something like this: “Our objective is to deliver X results
by Y date at a cost of Z dollars.”
Management Team
What is the background of the team? What talents and achievements does each team member
possess? Do the students work well as a team? What role will each member play in the company?
Explain why this is the right team to make the company work.
The company overview may also provide a quick mention of the product or service. Specific details
on the product or service, however, should be saved for the next section of the business plan.
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Y.E.S. FOR ARKANSAS
Product or Service Description (worth up to 10 points)
The product/service section should provide the following information:
Product / Service
Describe your company’s product/service.
Features and Benefits
Describe the features and benefits of your product/service.
Competitive Advantage
Why and how the product/service is better than its competitors? Compared with your other
competitors, why would a customer like your product/service better?
The product or service can provide a competitive advantage by offering customers: (1) lower
prices, (2) greater benefits/services/usability, and/or (3) new offerings which might otherwise not
be available.
Innovation / Creativity
How is the product/service new or different from what is currently in the marketplace?
Teams should strive to provide clear concepts proving the product or service is new to the
marketplace.
Marketing Strategy (worth up to 10 points)
This section explains how you are going to sell your product or service. The marketing strategy
section should address the following:
Target Market
• Who are you trying to sell the product to?
• How many of these customers may buy your product?
Competitors
• Who sells a similar product?
• Why do you think you can compete successfully against them?
• How is your product different from what your competitors have to offer (i.e., competitive
advantage)?
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Y.E.S. FOR ARKANSAS
The 4 Ps of Marketing3
Product
This can be a summary of the product or service from the previous section.
Price
How much does your product cost?
Place
Where and how can your product be purchased?
Promotion
• How are you going to advertise your product? Methods include: word of mouth, flyers,
brochures, posters, bulletin boards, newspaper ads, magazine ads, online ads, television
ads, and radio ads.
• How are you going to sell your product? Methods include: in a store, telephone sales,
door-to-door, Internet, through a catalog, from your home, direct mail, newspaper ads, TV
ads, radio ads, hire a group of salespeople, school, fair, and street vendor.
Financials (worth up to 10 points)
This section explains to the investor how much money the entrepreneur will need to start the
business. It also explains how much money (i.e., profit) the business will hope to make. The
financials section should provide (1) an Income Statement, and (2) a Statement of Funds Needed
to start the business.
Income Statement
The income statement is a financial report that shows a business’s revenue, expense, and profit
over a period of time. Once these numbers are calculated, the ending number (net profit if positive
or net loss if negative) can provide the entrepreneur and the investor with an idea of the moneymaking potential of the business.
Developing an income statement can help the entrepreneur better determine whether or not
the product/service is worth making and/or selling. If the income shows a net loss, then this is an
indicator that the entrepreneur should change the business model or find another one that can
generate an income.
The following example shows the process of creating an Income Statement:
3 The Marketing Mix: The 4 Ps of Marketing. NetMBA. www.netmba.com/marketing/mix/.
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Y.E.S. FOR ARKANSAS
Income Statement Example
During Jane’s summer break, she decides to make money by operating a lemonade
stand. In order to start her business, Jane must buy the following items:
• Lemonade mix (Cost: $5)
• Styrofoam cups (Cost: $10)
• Signage (poster board and markers) (Cost: $5)
• Other marketing materials including an ad in the local newspaper (Cost: $20)
• The water, ice, table, and chair come from the Jane’s parents’ home. Her parents
already have these items so she does not have pay for these. (Cost: free)
Assume that Jane works 3 hours a day, 4 days a week. Every day, she sells an average of
12 cups of lemonade. She charges every customer $2 for one cup. Her lemonade mix
and cups will last her 1 month.
1) Create an Income Statement covering one month for Jane’s Lemonade Stand if she
runs the business by herself. 2) Create an Income Statement covering one month for
Jane’s Lemonade Stand if she hires someone to work for her for $6 an hour.
See the answers on the following pages.
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Y.E.S. FOR ARKANSAS
Income Statement Example – Question 1 Answer
1) Create an Income Statement covering one month for Jane’s Lemonade Stand if she
runs the business by herself.
To help the students break this problem down we have created the following subquestions:
1a) How many cups of lemonade will Jane
sell in a month?
4
Number of weeks in a month
(x) 4
Number of days worked per week
Number of days worked in a month
16
Number of days worked in a month
16
Number of cups sold per day
(x) 12
Cups sold in a month
192
1b) What are Jane’s Total Sales for 1 month?
Cups sold in a month
192
Sales price of each unit
(x) $2
Total Sales
$384
1c) What are Jane’s Total Expenses?
Lemonade mix
Foam cups
Signage Marketing materials
Total Expenses
$5
$10
$5
(+) $20
$40
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Y.E.S. FOR ARKANSAS
Income Statement Example – Question 1 Answer (continued)
1d) What is Jane’s Net Profit (or Net Loss)
for the month?
Total Sales Revenue
Total Expenses
Net Profit
$384
(-) $40
$344
Jane’s Lemonade Stand
INCOME STATEMENT
For 1 month
Revenues:
Total Revenue
$384
Expenses:
Lemonade mix
$5
Styrofoam cups
$10
Signage
$5
Marketing materials
$20
Total Expenses
$40
Net Profit
$344
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Y.E.S. FOR ARKANSAS
Income Statement Example – Question 2 Answer
2) Create an Income Statement for Jane’s Lemonade Stand if she hires someone to
work for her for $6 an hour.
To help the students break this problem down we have created the following subquestions:
2a) How much will it cost Jane to pay the
worker?
Number of hours the worker would work
everyday
3
Number of days the worker would work
every week
4
Number of weeks per month
(x) 4
Total hours worker works
48
Number of workers
1
Worker pay per hour
(x) $6
Worker Expense per month
$288
2b) What are Jane’s Total Expenses?
Lemonade mix
Foam cups
Signage
Marketing materials
Worker Expense
Total Expenses
$5
$10
$5
$20
(+) $288
$328
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Y.E.S. FOR ARKANSAS
Income Statement Example – Question 2 Answer (continued)
2c) What is Jane’s Net Profit (or Net Loss)
for the month?
Total Revenue (same as before)
Total Expenses
Net Profit
$384
(-) $328
$56
Jane’s Lemonade Stand
INCOME STATEMENT
For 1 month
Revenues:
Total Revenue
$384
Expenses:
Lemonade mix
$5
Styrofoam cups
$10
Signage
Marketing materials
$5
$20
Worker Expense
$288
Total Expenses
$328
Net Profit
$56
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Y.E.S. FOR ARKANSAS
Statement of Funds Needed
Since one of the main purposes of a business plan is to seek financing, it is important to state the
financial needs of the business. The following is an example of a how to write a funding request:
Statement of Funds Needed Example
The management of Mike’s Bike Shop will need $10,000 to pay for supplies, employee
salaries, rent, utilities, and marketing materials to operate a small used bicycle store.
Mike is willing to invest $6,000 of his own money to cover these expenses.
1) How much additional funding does Mike need and why? 2) Where could Mike go
to borrow this money?
Statement of Funds Needed Example – Answers
1) How much additional funding does Mike need and why?
Total Expenses
Money Mike is investing Total Mike needs to borrow
$10,000
(-) $6,000
$4,000
Mike will use the $4,000 to help pay for supplies, employee salaries, rent, utilities, and
marketing materials.
2) Where could Mike go to borrow this money?
Source could include banks, lending corporations, family, friends, and/or the
government.
19
Y.E.S. FOR ARKANSAS
CHAPTER 6: FINISHING AND SUBMITTING THE PLAN
CHAPTER 6:
Finishing and Submitting the Plan
http://arcapital.com/aeaf/yes/yes-business-plan
Business plans submissions open Monday, November 2, 2015. The deadline to submit business
plans is 5:00 p.m. Tuesday, November 17, 2015.
Make sure business plans are proofed for grammar, spelling, punctuation, and proper sentence
construction. Too often great plans lose points due to these errors.
Plans will need to be converted to PDF in order to be uploaded to iStart. Please give this PDF
document the same name as that of your business. When the PDF conversion is complete, please
ensure all pages were properly converted. Plans that cannot be opened or are missing pages
cannot be judged and will be disqualified.
Don’t take chances on your hard work going to waste – proofread your plan carefully!
Sponsors – not the students – are to upload the plans.
To submit:
1. Go to yesforarkansas2016.istart.org and log in. Click on your account name at the upper
right hand corner of the page to access your profile. Click on the “Business Ideas” tab.
2. Find the business name you entered in the Intent to Compete process. Click “Edit.”
3. Update the name of the business if it changed it since submitting the Intent to Compete.
4. Update your content in the “Business / Concept Summary” box. This should be a short,
two- to three-sentence paragraph stating your company’s purpose.
No further information is required. You do not need to check the option at the bottom that asks,
“Display Your Business on the iStart Public Directory?” unless you choose to do so.
When finished with this page, click “Save.” You will then be taken to the iStart Competition
Participant Agreement. Feel free to read the agreement if you like, but you can go ahead and click
“I Agree.” You will then be taken to the Application page.
Update the sponsor, school, and team member information. You will then see the prompt to
upload your business plan.
Congratulations and good luck!
20
Y.E.S. FOR ARKANSAS
CHAPTER 7: JUDGING THE PLANS
CHAPTER 7:
Judging the Plans
The plans submitted to the Y.E.S. competition are judged by a team of business, community, and
education leaders throughout Arkansas.
As the judges read the plans, they will ultimately consider the entire business concept, looking
at (1) the feasibility, (2) the potential to generate revenue, and (3) the ability to implement the
business.
The 25 teams with the highest cumulative business plan scores will be chosen as finalists and
invited the annual Y.E.S. for Arkansas Expo Day. Overall plan scores determine the first- through
fourth-place winners in the Best Business Plan category.
The Most Innovative Product awards are determined by both plan scores and Expo Day scores.
The 10 teams with the highest scores in the innovation category are reviewed by judges at Expo
Day, and the first- through fourth-place winners are selected from those 10 teams.
The other two awards, Best Marketing Piece and Best Retail Display Booth, are determined
independently of the plans by the Expo Day judges.
21
Y.E.S. FOR ARKANSAS
CHAPTER 8: TOP 25 FINALISTS AND Y.E.S. EXPO DAY
CHAPTER 8:
Top 25 Finalists
and Y.E.S. Expo Day
arcapital.com/aeaf/yes/yes-awards
The 25 teams that earn the highest cumulative business plan scores will be chosen as finalists, and
invited to the annual Y.E.S. for Arkansas Expo Day.
AEAF will announce the Top 25 Finalists online at 1:30 p.m. Wednesday, December 16, 2015.
Watch the announcement at arcapital.com/aeaf/yes.
The 2016 Y.E.S. for Arkansas Expo Day will be Friday, January 22, 2016, at Park Plaza in Little
Rock, from 9:00 a.m. to 2:00 p.m.
Sponsors will also need to gather T-shirt sizes and media release forms signed by a parent or
guardian for all team members. This is to be submitted through yesforarkansas2016.istart.com
before Expo Day.
AEAF staff will contact sponsors following the Top 25 announcement, and will send additional
information and updates throughout the weeks leading up to Expo Day.
Marketing Piece Requirements
Each team is assigned a booth to display and demonstrate their products and services for Park
Plaza patrons and a new team of judges. Teams are required to:
• Produce a product for display and sale during the Expo. If the business plan was created for
a service, a presentation board describing the service must be on display.
• Produce a marketing piece. This could be a one-page flyer, a printed brochure, a 30- or
60-second radio or TV commercial, or a website. (Park Plaza does not have Wi-Fi, so if
teams plan to demonstrate any websites via a laptop or tablet, we recommend the pages
be viewable offline.)
22
Y.E.S. FOR ARKANSAS
Important Times and Locations
This information may change before the event so please read all emails from AEAF to ensure you
have the latest information.
• 9:00 a.m. – Teams are to arrive at Park Plaza for load-in. Check in at the registration table
first for booth assignments. Booths will not be ready before 9:00 a.m.
• 10:00 a.m. – All booths must be set up by this time. All equipment and boxes used to load
in must be placed back in vehicles – they cannot be left around the booths.
• 10:00 a.m. to 12:00 p.m. – Expo Day event
• 10:00-11:30 a.m. – Judges will visit booths during this time. Team members will be asked
to explain and demonstrate their products. Please ensure the booths are staffed with team
members during this time.
• 12:00-1:30 p.m. – Booth tear-down.
• 1:30-2:00 p.m. – Awards Ceremony, second level, in front of Dillard’s.
Booths
Guidelines may vary slightly year-to-year, depending on Park Plaza’s requirements. AEAF staff will
send emails and update the AEAF website with the most up-to-date information before Expo Day.
• Teams may decorate their booths how they wish. Many past teams have chosen a theme
that compliments their business idea or simply chosen colorful and fun colors. Keep in
mind that the teams will be judged for their booth for the Best Retail Booth award.
• Each booth will be 8 feet wide and 6 feet deep. Each booth will have an 8-foot black drape
in the back and 3-foot drapes on the sides. Each booth will have a 6-foot skirted table with
two chairs. Electrical outlets will be provided at every booth. Teams will need to provide
their own power strips.
• Don’t bring tents, canopies (like for tailgating, etc.), or anything that would obstruct
customers’ views or impede foot traffic.
• All booths will be on the third level of Park Plaza.
• Booths will be assigned.
• The booth should be staffed by at least one team member (not just a sponsor or parent)
from 10:00-12:00 p.m.
• Team members can break for lunch or the restroom at any time (as long as the booth is
staffed as explained above).
• We know students and teachers will have a lot of supporters coming with them. We
strongly recommend that booths do not become overcrowded.
23
Y.E.S. FOR ARKANSAS
• There will be people buying the teams’ products – be prepared to make change for
purchases. Team members, their sponsors, and their supporters may also want to bring
extra money in case they want to make purchases from their fellow Y.E.S. finalists.
• Photos are included at the end of this chapter to give an idea how teams have decorated
their booths in past years.
Expo Day Judging
A new set of judges will visit the booths to determine the winners in two more categories:
Best Marketing Piece and Best Retail Booth Display.
The judges will award scores based on:
Best Marketing Piece Award
1) Product:
a) Features and Benefits
b) Price and Competitive Advantage
c) Product Placement
2) Promotion: Appealing to Target Market
3) Visual: Visual Appeal
Best Retail Booth Display
1) Team Presentation:
a) Friendliness
b) Customer Service Skills
c) Knowledge of Their Product
2) Signage – Design & Creativity
3) Booth:
a) Orderly and Appealing
b) Use of Color
c) Use of Light and Props
4) Product Display:
a) Product Centrally Focused
b) Display Creativity
24
Y.E.S. FOR ARKANSAS
25
Y.E.S. FOR ARKANSAS
26
Y.E.S. FOR ARKANSAS
27
Y.E.S. FOR ARKANSAS
28
Y.E.S. FOR ARKANSAS
CHAPTER 9: AWARDS AND CASH PRIZES
CHAPTER 9:
Awards and Cash Prizes
http://arcapital.com/aeaf/yes/yes-awards/
An awards ceremony follows Y.E.S. Expo Day, from 1:30 to 2:00 p.m. Friday, January 22, 2016, on
th east side of the second level, in front of Dillard’s.
Awards will be given for first through fourth place in the following categories:
•
•
•
•
Best Business Plan
Most Innovative Product
Best Marketing Piece
Best Retail Booth Display
Prizes are awarded in each category:
• First Place: Each team member wins $100 and a medal. Advisors will receive $500 and a
trophy.
• Second Place: Each team member wins $50 and a medal. Advisors will receive $300 and
a trophy.
• Third Place: Each team member wins $25 and a medal. Advisors will receive $200 and a
trophy.
• Fourth Place: Each team member wins a medal. Advisors will receive $100 and a trophy.
Each Top 25 team member and sponsor will receive a T-shirt and a certificate.
29
APPENDIX 1: LEAN CANVAS
Y.E.S. FOR ARKANSAS
APPENDIX 1:
Lean Canvas
A different approach to crafting a business idea is the Lean Canvas.4 The Lean Canvas format
allows a business owner to map out a business model in one-page diagram. The Lean Canvas isn’t
a substitute for a business plan, but it may be a helpful way for a team to work through a business
idea or concept.
4
1
WHAT
problem are
we solving?
HOW
are we solving
this problem?
8
HOW will
we measure
success?
9
HOW
3
WHY
do we market
to people?
should
we solve
this problem?
5
HOW
2
WHO
has
the problem?
do people
buy from us?
7
6
WHAT are our expenses?
HOW will we make money?
Lean Canvas is adapted from The Business Model Canvas (www.businessmodelgeneration.com) and is licensed under the Creative Commons
Attribution-Share Alike 3.0 Un-ported License.
4 Maurya, Ash. “How To Create Your Lean Canvas.” http://leanstack.com/
30
Y.E.S. FOR ARKANSAS
APPENDIX 1: LEAN CANVAS
The Lean Canvas points can also be framed as questions:
1. What problem are we solving?
2. How are we solving the problem?
3. Why should we solve this problem?
4. How do we market to people?
5. How do people buy from us?
6. Who has the problem?
7. How will we measure success?
8. What are our expenses?
9. How will we make money?
31
Y.E.S. FOR ARKANSAS
APPENDIX 2: TEACHER RESOURCES AND OTHER ORGANIZATIONS
APPENDIX 2:
Teacher Resources
and Other Organizations
Arkansas Department of Career Education
ace.arkansas.gov
Arkansas Department of Education
www.arkansased.gov
Arkansas FIRST Robotics
arfirst.org
Arkansas Regional Innovation Hub (The Launch Pad, Art Connection, Silver Mine)
www.arhub.org
Arkansas STEM Coalition
arkansasstemcoalition.com
Bessie Moore Center for Economic Education
bmcee.uark.edu
BizKid$
bizkids.com
BizWorld.org (grades 3-8)
www.bizworld.org
Boy Scouts of America (there is an Entrepreneurship badge)
www.scouting.org/filestore/boyscouts/html/entrepreneurship.htm
Consortium for Entrepreneur Education
www.entre-ed.org
Corporation for Enterprise Development
cfed.org
Economics Arkansas (PreK-12)
www.economicsarkansas.org
EAST Initiative
www.eastinitiative.org
32
Y.E.S. FOR ARKANSAS
APPENDIX 2: TEACHER RESOURCES AND OTHER ORGANIZATIONS
Federal Reserve Bank of Dallas Economic Education
www.dallasfed.org/educate/classroom.cfm/
Federal Reserve Bank of St. Louis’s econlowdown
www.stlouisfed.org/education
FBLA-PBL (Future Business Leaders of America – Phi Beta Lambda)
www.fbla-pbl.org
Foundation for Teaching Economics
www.fte.org
Girl Scouts (they have some entrepreneurship-related initiatives)
www.girlscouts.org
Junior Achievement of Arkansas
www.jaark.org
Kauffman Foundation
www.kauffman.org
Microsoft’s YouthSpark
www.youthspark.com
National Association for Teaching Entrepreneurship
www.nfte.com
Noble Impact
nobleimpact.com
Partnership for 21st Century Learning
www.p21.org
PTLW (Project Lead The Way)
www.pltw.org
SBA’s Young Entrepreneur Series
www.sba.gov/content/young-entrepreneurs-series
Thea Foundation
www.theafoundation.org
U.S. Patent and Trademark Office
www.uspto.gov/kids
The Venture Center
venturecenter.co
33
Y.E.S. FOR ARKANSAS
APPENDIX 3: SAMPLE Y.E.S. BUSINESS PLANS
APPENDIX 3:
Sample Y.E.S. Business Plans
Included are four of the top-scoring plans from recent Y.E.S. competitions. These plans are intended
to give new Y.E.S. sponsors a clearer idea of what a good, finished plan looks like. Please use these
only as examples. Also, keep in mind that current rules may vary slightly from the rules that were
in place when these plans were written. As noted earlier in the manual, please refer to arcapital.
com/aeaf/yes/ and your email for any updates to the competition guidelines.
34
WONDERFUL WIRE WORKS Retainer Cases Business Plan October 11, 2013 This document contains confidential and proprietary information that belongs exclusively to: WONDERFUL WIRE WORKS, Inc. Jacob Weems, Kade Perry, Gracie Brown, Jaida Hollingshead, Blayne Toll Hazen Elementary School 477 North Hazen Avenue Hazen, AR 72064 [email protected] 870‐734‐6562 Mrs. Lisa Martin Hazen Elementary School 477 North Hazen Avenue Hazen, AR 72064 [email protected] 870‐734‐6562 WONDERFUL WIRE WORKS Retainer Cases Table of Contents Company Overview…………………………………….……………………………………….….…….2 Mission Company History Goals Objectives Management Team Product/Service……………………………………………………………………………………………..3 Product Features & Benefits Competetive Advantage Innovation Marketing Plan……………………………………………………………………………..………………..4 Target Market Competitors Product Price Place Promotion Financials………………………………………………………………………………….…….………………5 Revenue Cost of Goods Sold Expenses Net Profit WONDERFUL WIRE WORKS Retainer Cases Company Overview Mission The purpose of our company is to develop a product that will keep people from throwing away their expensive retainers. We think our product is beneficial because the retainers would be in the case around your neck instead of ending up in the trash can! Company History Our Gifted and Talented teacher, Mrs. Lisa Martin, told us that we needed to brainstorm products that solved real world problems. Jacob Weems invented the idea for the WONDERFUL WIRE WORKS Retainer Cases. Team members decided that the product would be made using a decorated retainer case attached to a hand‐crafted lanyard. The lanyards would be made from recycled, brightly‐colored t‐shirts that are cut into strips and braided together. Team members experimented with braids until we found just the right look. We made several sample products. Goals Our goal for WONDERFUL WIRE WORKS Retainer Cases is to keep people from throwing away their retainers and having to dig in the trash for expensive retainers or having to replace them. We would like to see our product for sale in the offices of several orthodontists and dentists. Objectives Our objective is to sell at least 20 WONDERFUL WIRE WORKS Retainer Cases by the month of January, 2014. Management Team Our group consists of three boys and two girls. Jacob Weems is our CEO. Jacob is an effective leader for our group. Kade Perry is our CFO. Kade excels in math, is organized, and can maintain accurate records. Jaida Hollingshead and Gracie Brown will join forces to be our designers. They have an eye for fashion and style. Blayne Toll will handle marketing and advertising. These students have been friends for several years and work well together. 2 WONDERFUL WIRE WORKS Retainer Cases Product/Service Product WONDERFUL WIRE WORKS Retainer Cases eliminate the chance of accidently throwing away your retainers. The product is made from a decorated retainer case and a hand‐braided, recycled t‐shirt lanyard. Each WONDERFUL WIRE WORKS Retainer Case is priced at $7.00 each. Features and Benefits WONDERFUL WIRE WORKS Retainer Cases keep your retainers out of the trash can! Each WONDERUL WIRE WORKS Retainer Case, erected in Hazen, AR, is made using a variety of case colors and fabrics. The hand‐braided lanyards are made of brightly colored recyled t‐shirts, and each case is uniquely decorated. The greatest benefit of WONDERFUL WIRE WORKS Retainer Cases is that they will keep people from throwing their expensive retainers in a nasty public trash can. Another benefit is that instead of others being grossed out by looking at your retainers while eating, they are carefully hidden away in your WONDERFUL WIRE WORKS Retainer Case. Competitive Advantage We have looked in local stores and have not found a product like our WONDERFUL WIRE WORKS Retainer Case. The only retainer cases we have found are very plain and have no attachments. Customers will like our product better because it is more appealing to the younger generation with retainers. Innovation WONDERFUL WIRE WORKS Retainer Cases are a unique product that protects your retainers and keeps them safe. Our product is innovative because they are easy to keep up with because of the lanyard utility that we have attached to the case. School students can easily hang WONDERFUL WIRE WORKS Retainer Cases in their lockers and slip them around their necks before lunch. We are also helping the environment by recycling t‐shirts for this project. Even if a kid didn’t wear retainers, he or she might use our case for carrying things like money and keys. 3 WONDERFUL WIRE WORKS Retainer Cases Marketing Plan Target Market Our typical customer is any male or female who wears retainers or their parents. Our product is very attractive to mothers with kids who have retainers. We feel that many parents will purchase our product for their kids in hopes of safeguarding their expensive retainers. We also believe that dentists and orthodontists will purchase our product to sell to their patients. Competitors Similar products would be sold by drug stores and discount stores like WalMart. Our product is different because these stores only carry basic retainer cases. Our product offers a creative edge and a handy lanyard attachment. Product WONDERFUL WIRE WORKS are unique retainer cases that are decorated and have a hand braided, recycled t‐shirt lanyard attached. These one‐of‐a‐kind retainer cases will eliminate the chance of throwing away your retainers while they are out of your mouth. The product keeps your retainers safe and secure. Price Our product is competitively priced at $7.00 each. Plain cases cost an average of $4.00, but that does not include a lanyard or stylish case. Our product is worth the extra money because the lanyard is what is going to keep the retainer safely around your neck. Place We can sell our product at our school, dentist and orthodontist offices, and at local festivals. If we are selected as one of the 25 teams to go to Park Plaza Mall, we will be able to sell there also. Promotion To promote our product, we will meet with orthodontists and dentists to get our WONDERFUL WIRE WORKS Retainer Cases in their offices for purchase. We will spread news of our product to mass audiences on our GT Facebook Page. We will also promote our product by word of mouth. Flyers will be designed and distributed. 4 WONDERFUL WIRE WORKS Retainer Cases Financials For One Month Statement of Funds Needed: The management team of WONDERFUL WIRE WORKS Retainer Cases started with a loan of $54.00 from Lisa Martin. This amount was enough for us to begin our business. We will not be requesting another start‐up loan. Revenue: Total Sales………(projected 20 sales @ $7.00 each) …………………………………..$140.00 Net Sales……………………………………………………………………………………..…………….$140.00 Cost of Goods Sold: Supplies (retainer cases,recycled fabrics, metal rings, and stickers)…………….$54.00 Worker Pay………………………………………………………………………………………..………..$0.00 Total Cost of Goods Sold……………………………………………………………………………..$54.00 Expenses: Equipment, Rent, Marketing……………………………………………………………………….$0.00 Office Supplies (donated)……………………………………………..…………………………….$0.00 Total Operating Expense…………………………………………………………………………….$0.00 Net Profit…………………………………………………………………………………………………..$86.00 WONDERFUL WIRE WORKS Retainer Cases…
COME SMILE WITH US! 5
Business Plan
Magnetic Imagination
November 7, 2014
Confidential and proprietary information
that belongs exclusively to
Johnson Products Inc.
Ethan Johnson CEO of Johnson Products Inc.
Kristi Nelson, Teacher Advisor
[email protected]
1301South College
Mountain Home, Arkansas
870-425-1236
0
Table of Contents
1. Company Overview…………………………………………………………...
Mission
Company History
Company Goals
Company Objectives
Management Team
2. Product/Service………………………………………………………………
Product
Innovation
3. Marketing Plan…………………………………………………………………
Target Market
Competitors
Product
Price
Place
Promotion
4. Financials…………………………………………………………………………..
Revenues
Expenses
Marketing expenses
Net profile or Net loss
1
1. Company Overview
Mission
My mission is to let future engineers let their imagination run wild and build whatever they can
imagine with my portable magnetic building sets. These sets will be completely interchangeable,
and will have many different types of wooden shapes included in the set. Car trips will no longer
be endless!
Company History
One day the CEO of Johnson products Inc. was playing with some Legos in his family
car and they all collapsed and made a huge mess! Then he thought why have to deal with this
mess when you could have a solid magnetic platform that you could put magnetic wooden blocks
on and build whatever you would like? The idea for Magnetic Imagination was born.
Company Goals
Our company goal is to make this into a million dollar company. We want to start competing
against major companies such as Lego® and other building set companies.
Objectives
Our first objective is to get chosen for the top 25 in the Y.E.S for Arkansas competition. Then
from there the sky is the limit!
Management Team
Ethan Johnson is a straight “A” student who is well behaved in school. He is an expert “kid”
engineer and is good at making children’s toys. He is well rounded he participates in sports such
as basketball, baseball, football, and cross country. He has an older brother who is also in the
gifted program and a little sister with straight A’s.
2
2. Product
Product
This product contains a variety of shapes and sizes of wooden blocks and long connector pieces.
Don’t worry, there’s more than that! They are all magnetized and can stick together so you can
carry your finished sculpture around. And if you’re on a road trip you can put the magnetic board
on your lap and build on the go!
Features & Benefits
The Magnetic Imagination set has over 20 unique magnetized wooden blocks and other
building shapes with a wooden magnetized board to hold your sculpture. The benefits are that
it’s not messy and it’s extremely portable. It is made with the creative kid in mind.
Example of the types of shapes and blocks that will be included the actual building sets.
The competitive advantage we have for our product is that this is a one of a kind product. I
guarantee there’s nothing else like this in the market. Many building sets exist, but none as “old
school” as ours. Blocks and other shapes make up the sets. Building sets like this top the charts
in children’s toys. I feel very confident in our product and believe that it will make it big in the
market when fully developed.
3
Innovation
There is no doubt that this is a very innovative toy. There hasn’t been a new building game out
on the market in a long time so I feel this will be a big hit. It will be a new toy every time a kid
takes it out to play with it.
3. Marketing Plan
Target Market
Our target market is creative children that enjoy building and things of that nature. These kids
don’t follow directions when building conventional sets, and like to use their imaginations.
Competitors
Our competitors are other building companies like Lego®.
Price
We will be pricing each building set at $7.00.
Place and Promotions
I will be advertising and selling this item at toy stores, Cracker Barrel, and Wal-Mart. I also will
be hopefully selling these sets at the Y.E.S. for Arkansas Expo. I will advertise at school and
churches around town. I will let kids play with the sets in the elementary schools in my town
and pass out fliers to the students’ parents.
4
4. Financials
Statement of funds needed
To start building the Magnetic Imagination sets there was an initial donation of materials.
If the projected sales were actual sales, more materials would need to be purchased by obtaining
an $85.00 loan from the CEO’s parents. Any profits would then be put back into raw materials
to make the Magnetic Imagination sets.
Magnetic Imagination
1 month projected sales and cost of one set
Revenue:
Projected sales:
(20 sets @ $7.00 per set)……………………………………
$140.00
1 set …………………………………………………………
$7.00
Expenses:
Box of Magnets
($0.25 each) (10 magnets per set) ………….$2.50
Dowel Rods
($0.50 each) (2 per set) …………………
$1.00
Super glue ……………………………………………………..........$0.75
Projected expenses for 20 sets ………………………………….. $85.00
For 1 set ……………………............................................................$4.25
Marketing Expenses:
Social media……………………………………………………….. $0.00
Poster board & other paper goods………….……………………….$0.00
Marketing Expenses ………………………………………………$0.00
Net Profit:
Projected profit for 20 sets @ $7.00 set…………………………. $55.00
Profit per set ……………………………………………………… $2.75
5
Mini’s Delicious Donuts
Business Plan
November 1, 2013
This document contains confidential and proprietary
Information that belongs exclusively to
Josie Fortner
Carlisle Elementary School
520 Center Street
Carlisle, AR 72024
Mrs. Jennifer Park
Carlisle Elementary School
520 Center Street
Carlisle, AR 72024
[email protected]
870-552-3261
Table of Contents
Company Overview
3
Product/Service
4
Marketing Plan
5
Financials
6
Company Overview
Mission
Mini’s Delicious Donuts were created to provide a healthy, but tasty snack for fellow
diabetics and dieters across the state of Arkansas.
Company History
I participated in the Y.E.S. program last year and was asked again to participate in this
year’s competition. Last year, my company’s profit was donated to a local charity called
New Hearts Ministry. This year, I hope to donate some of my profit to JDRF, Juvenile
Diabetes Research Foundation.
Goals
Mini’s Delicious Donuts has a goal of being sold in an official donut business, such as
Daylight Donuts or Dunkin’ Donuts in the Arkansas. This would allow everybody the
opportunity to eat delicious donuts while staying healthy.
Objectives
My objectives will be to sell at least 60 donuts in a month. Locally, I would also like to be
asked for by name. I hope to talk to the local donut stores around my area to see if my
donuts can possibly be purchased there. This will draw attention of customers and
hopefully encourage them to buy my product.
Management Team
Mini’s Delicious Donuts are made by one sixth grade girl, Josie Fortner. I am the President
of Student Council, so I am a very good leader. This makes me the perfect person for the
job of Chief Executive Officer. I love math, and I’m very creative when it comes to food.
Because I am a diabetic myself, I know how hard it is to find low carb tasty treats.
Product/Service
Product
My product for the Y.E.S Expo is Mini’s Delicious Donuts, 15 carbohydrate mini donuts.
This product was created when I realized that dieters and type-one diabetics couldn’t have
many desserts or sweets due to high carbohydrate count. So I decided to make a dessert
that will satisfy their sweet tooth. This is Mini’s Delicious Donuts.
The advantages of my donuts are that they are more reasonably priced compared to other r
donut shops. With Mini’s Delicious Donuts, the customer would save money, because they
are priced at 75 cents, lower than competitor’s prices. This donut will be a tasty breakfast
in the morning or a good afternoon snack, while not going over their carb limit. Another
advantage is that it will help type-one diabetics have a fast and easy snack without going
overboard on carbs.
My competitors would be Shipley’s Donuts, Daylight Donuts, and other donut shops in
Arkansas. My donuts have the satisfaction of being low on carbs, but have cute designs on
them for grabbing the customers ‘attention. Mini’s Donuts are extraordinary low in price
and satisfy your cravings.
Innovation
Mini’s Delicious Donuts are new and fresh, because the icing or toppings of honey and
cinnamon on them are fat burners, so they eliminate fat while tasting great! It’s also new,
because low carb donuts are very difficult to find in all of Arkansas.
Marketing Plan
Target Market
Mini’s Delicious Donuts would be great for all ages, both male and females. My typical
customer may be overweight or a diabetic. These low carb donuts would be very tasty for
younger kids, even though they don’t realize the helpful ingredients that goes into this
delicious donut.
Competitors
My main competitors would be Daylight Donuts, Shipley’s Donuts, and Dunkin’ Donuts. But
while all these restaurants have tasty donuts, Mini’s Delicious Donuts are made with fat
burning ingredients, along with fact that they are low in carbs. The competitive advantage
that I have is that Mini’s Delicious Donuts provides a brand new donut for diabetics and
dieters of all ages. It’s also has the satisfaction of knowing they are both healthy and
delicious.
Product
Mini’s Delicious Donuts are made of ingredients, such as Splenda and dough. They are as
equally delicious to my competitors, while being more nutritious.
Price
Mini’s Delicious Donuts will be sold at a low price of 75 cents each. After reviewing my
financials, I determined that 75 cents was a fair price for the customer, while allowing me
to make a profit. My competitor’s price is around $1.00 per iced donut at the local donut
shops in Arkansas. I think my product will be worth 75 cents, because of how satisfied the
customer will be after eating Mini’s Delicious Donuts.
Place
Mini’s Delicious Donuts can be purchased at the Carlisle Elementary School Product Fair in
December. They can also be purchased on Facebook.
Promotion
To advertise Mini’s Delicious Donuts, I will hang and pass out fliers on my school campus. I
will also draw attention to my product by doing a segment on the Carlisle Elementary
morning news show.
Financials
Income Statement
for one month
Revenue:
Projected sales of 60 mini donuts (.75 each)
Total revenue
Expenses:
Splenda
$45.00
$45.00
$5.00
Cinnamon
$2.50
Flour
$2.00
Vegetable Oil
$3.00
Butter
$3.00
Eggs
$2.00
Milk
$3.50
Baking Powder
$1.00
Honey
$3.00
Paper
$3.00
Total Expenses
$28.00
Net Profit
$17.00
I have invested $23.00 in my company, Mini’s Delicious Donut. So, a loan will not be
needed at the moment.
PUCKER POPS
Business Plan
November 7, 2014
This document contains
Confidential and proprietary information
That belongs exclusively to
PUCKER POPS
Connor White, Jordan Gabriel, and Christopher Cheek
522 West College Road
Omaha, AR 72662
870-426-3366
Scott Jones
Omaha Public Schools
522 West College Road
Omaha, AR 72662
[email protected]
870-426-3366
Pucker Pops
Table of Contents
1. Company Overview
Mission
Company History
Company Goals
Company Objectives
Management Team
1-2
1
1
1
1
2
2. Product/Service
Product
Innovation
2-3
2
2
3
3
3. Marketing Plan
Target Market
Competitors
Product
Price
Place
Promotion
3-4
3
3
3
3
4
4
4. Financials
Income Statements
4-5
4-5
5
Company Overview
Mission Statement
Pucker Pops mission is to make a healthy frozen pickle juice treat so deliciously soft yet
incredibly sour it will not only melt in your mouth, but make you pucker too.
Company History
We started Pucker Pops as a product for the Y.E.S. for Arkansas competition in the fall of 2012,
and we made it into the top 26 for that year's Expo at Park Plaza Mall. The experience and
knowledge gained from this opportunity motivated us to make several key changes. Since that
time we have been working on ways to both improve our product and how we will market it.
After months of further research and development, a new product based on the success of our
original Pucker Pops was born! So, we are very pleased to announce the newest addition to our
company, the one and only Dill Chill!
Pucker Pops' new Dill Chill still has all of the same deliciously sour taste with the added
healthy benefits that our customers loved, but now it is served as a soft and tasty shaved-ice treat,
which makes it even easier to enjoy all of its yummy sour goodness.
Company Goals
The goal of Pucker Pops is to make and sell our amazing new product Dill Chills, which are
frozen pickle juice treats so soft they will melt in your mouth, but also so sour they will cause
your lips to quiver, pucker up, and pop!
Company Objectives
Our first main objective for Pucker Pops was to learn from our previous experiences and make
improvements to our product. Over the summer months we worked to make Pucker Pops easier
to enjoy, without changing aspects that our customers loved most. Dills Chills were the
outstanding result!
The second major objective we had was a desire to learn more about marketing. In October of
2013, we visited a marketing firm and got a chance to see, hear, and learn from the pros about
the importance research, development, marketing, and advertising make to any company.
This October, we submitted our intent to compete in the Y.E.S. competition and began working
on our business plan. We requested permission to sell Dill Chills at some school events and at
several home sporting events. We will submit our completed business plan by November 7,
2014. We will then begin the task of filming our commercial for the marketing part of the
competition. We have worked very hard on our ideas and it's really going to be awesome! On
December 10, 2014, we want to hear Pucker Pops name announced as one of the top 25 state
finalists in the Y.E.S. competition. In December and January, we plan to prepare our booth and
finish the marketing piece for the January 16, 2015, Y.E.S. for Arkansas Expo at Park Plaza
Mall, in Little Rock, Arkansas, where we plan to win in each of the categories.
1
Management Team
The Board of Directors for Pucker Pops management team is made up of three extraordinary
people who work and play well together. Their product is almost as cool as they are!
Collectively they have participated both on teams and individually in Math Carnival, Quiz Bowl,
Science Fairs, Gifted and Talented Fairs, and Spelling Bees. They are also all three active
members of EAST class.
CEO - Connor White is Pucker Pops Chief Executive Officer. He is an intelligent
and creative person. He is the person who came up with the idea of Pucker Pops
and then reinvented them as Dill Chills. He has won many awards and honors in
school and other competitions, including being the leader of Pucker Pops which
won first place in the regional Math Carnival 2013. Connor is very good with
technology and plans to be a computer game designer in the future.
COO - Jordan Gabriel is the Chief Operations Officer. He is great for the job
because he is very considerate of other people's ideas and is extremely intelligent.
He has received many honors and awards in school. Jordan has participated in
Quiz Bowl, Math Carnival Design and Build, Problem Solving, and sports teams.
Jordan plans to attend college, study architecture and play football.
CFO - Christopher Cheek is the Chief Financial Officer of Pucker Pops. He is
great at problem solving and has excellent mathematical skills, particularly when
money is involved. He is motivated to work independently, but is also good when
working as part of a team. Chris loves building things and working on cars. He
plans to be an architect in the future.
Product
Product
Pucker Pops' new Dill Chills are sour, melt in your mouth, delicious frozen pickle juice treats.
A great refreshing snack with the extra healthy benefit of having no sugar added. Dill Chills are
approved by kids and parents! They are also GREAT for athletes who either have muscle
cramps or are in need a healthy boost of energy!
Pucker Pops' new Dill Chills are a mouth watering, sour pickle juice, shaved ice treat served in
a cone-cup with a straw-spoon allowing the customer to chill and enjoy all the frozen and melted
yummy juice until the last puckering drop. Dill Chills are affordably priced at only $1.00 and
have the added benefit of being sugar free ("Look Mom, no cavities!"), making them kid and
parent approved for all those who crave a delicious snack. Not to mention they are low in
calories! Another unexpected benefit is the healthy replenishing recharge of energy and
electrolytes (without unwanted ingredients or side effects) that our product Dill Chills provides
to athletes.
2
Pucker Pops' new Dill Chills are a delicious, sugar free (no cavities here!), refreshing sour
frozen treats for kids of all ages. The best competitive advantage of Dill Chills is that we are
conveniently bringing them directly to our target market, at special school events like Fall
Festival and Parent Teacher Conference as well as at the ball game concession stand.
Pucker Pops also has past experience, enthusiasm, an awesome team, and a great product.
Innovation
Pucker Pops' new Dill Chills feature pickle juice ice cubes which are then put into the snow
cone machine for a soft, yet delightfully sour treat for your taste buds. The "pickle cubes" are
made from the pickle juice left over from pickles sold at our school concession stand. Pucker
Pops new Dill Chills are sugar free, affordably priced, suitably served and conveniently brought
to our target market, including athletes in need of a healthy replenishing recharge of energy
without unwanted ingredients or side effects.
Dill Chills are juicy, melt in your mouth soft, and yet so sour you can't help but pucker. Watch
out! You will get hooked on this scrumptious snack! The best news is that they are actually
good for you...so go ahead, pucker up and indulge away!
Marketing Plan
Target Market
Pucker Pops target market is two-fold. First of all it is for our students, parents, and community
members who want to have a blast of flavor in our affordable, great tasting, but unusual frozen
snack. But another market the Pucker Pops team discovered during our research was that of
local athletes who desire more than a great refreshing treat. They are seeking a replenishing
energy boost, particularly to help overworked and tired muscles when cramping. (Which is why
many athletes drink pickle juice.) Dill Chills will deliver the goods for all of these target groups!
Competition
The closest competitor that the Pucker Pops team found when conducting research, was Bob's
Pickle Sickles in Texas; however, Pucker Pops doesn't have any local competition, because we
are conveniently providing our new Dill Chills directly to our target market at our school events
and ball game concession stand. This way, they can be enjoyed by the both the general public
and by our athletes. It's a Win-Win-Win!
Price
Dill Chills are very affordably priced at only $1.00 per treat. In this economy that's great news,
and the pucker is included at no extra charge!
3
Place
Dill Chills are sold at special school events and also in the concession stand during our home
basketball games. Pucker Pops also hopes to sell our Dill Chills on January 16, 2015 during the
Y.E.S. Expo at Park Plaza Mall in Little Rock, Arkansas.
Promotion
We started by created an original logo. Pucker Pops has also advertised by placing posters
around the school, through school announcements, and most importantly, through word of
"puckered" mouths. We are creating an original commercial as well to promote the taste, fun,
and benefits of our frozen treat. Dill Chills are being promoted not only as a delicious,
refreshing, sugar free alternative to the regular boring snacks, but also as a treat with an added
bonus of being a low calorie, healthy, energy and electrolyte replacement source! And who
couldn't use more energy?
Financials
Pucker Pops
Income Statements (1 Month)
FY 2012-2013
Expenses
Revenues
Supplies
Pickle Juice
Bags (100 pack)
Labels and Ink
Dry Ice
$0.00
$2.00
$8.00
$20.00
Overhead
$0.00
Labor
$0.00
Total Expenses
$30.00
Total Sales
($1.00 per Pop)
$100.00
Net Profit
$70.00
*(We produced 100 Pucker Pops and completely sold out of our product.)
4
FY 2014-2015 (Projected)
Expenses
Supplies
Pickle Juice
Cups/Straws (200)
Labels and Ink
Equipment
Ice Shaving Machine (Owned by Connor)
Marketing
Stickers
Commercial
Flyers
Projected Revenues
$0.00
$7.00
$10.00
$0.00
$10.00
$0.00
$4.00
Overhead
$0.00
Labor
$0.00
R&D
$0.00
Expenses
$31.00
Reinvestment of Profits FY2012-2013
$28.00
Total Expenses
$3.00
Projected Sales
($1.00 per Cup)
$200.00
Projected Profit
$197.00
The management team of Pucker Pops is able to get pickle juice from our school concession
stand at absolutely no cost. Our only expenses are for packaging and marketing. The company
members reinvested their shares from past profits for marketing purposes. The profit margin for
this year is 85%. Therefore, we do not need to take out a loan. Now that's a great deal, pickle!
5

Y.E.S. for Arkansas Teacher`s Manual

Transcription

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