Business Name. Student Entrepreneur Name. Template provided by NFTE

Transcription

1 Business Name (Logo & Slogan) Student Entrepreneur Name Template provided by NFTE

2 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

3 Mission Statement A mission statement is a company s constant reminder to its employees and customers of why the company exists 2

4 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 3

5 Business Goals Short term - [enter short term goal] Long term - [enter long term goal] 20

6 Operational Strategy Organizational Chart Organizational Culture

7 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 4

8 Competition Competitor Price Quality [ex. Local seller] $ What does my business do differently? [ex. National chain] $ Competitive Advantage $ List 2 reasons why customers will purchase your product or service over your competitor s. (Go beyond lowest price.) 5

9 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 6

10 Marketing Plan Phase Method Description Cost Awareness What tactics will you use to get consumers to know you exist? Purchase Retention What tactics will you use to motivate people to buy your product/service? How will you build a long term relationship and get them to return? Where? How many? When? How much will it cost? 7

11 Economics of 1 Unit (Retail/Wholesale Businesses ONLY) Definition of One Unit Selling Price per Unit COGS Per Unit Variable Costs Per Unit (outgoing shipping, packaging, commissions) Total Cost of Sales (D+E) $ (A) $ (D) $ (E) $ (F) Gross Profit Per Unit (A-F) $ 8

12 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) $ 9

13 Economics of 1 Unit (For Service and Manufacturing Businesses ONLY) Definition of One Unit Selling Price per Unit Direct Labor Per Unit (if applicable) Materials Per Unit(if applicable) Total COGS Per Unit (B+C) Variable Costs Per Unit (outgoing shipping, packaging, commissions) Total Cost of Sales (D+E) Gross Profit Per Unit (A-F) $ $ (A) $ (B) $ (C) $ (D) $ (E) $ (F) 10

14 Average Monthly Fixed Costs Type 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 $ $ 12

15 Month Units Sold January February March April May Monthly Sales Projections June 10 July August September October November December Total = 0 Units sold Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Monthly Break- Even Units (Double click on chart to add information) Monthly Fixed Costs/Gross Profit Per Unit 14

16 Projected Yearly Income Statement Selling Price Per Unit $ (A) # of Units Sold (B) Total Sales (A*B) Total COGS (COGS per unit * B) Other Variable Costs (Other variable costs per unit * B Total Variable Costs (D+E) Gross Profit (C-F) USAIIRDO (Yearly) $ Other Costs/Unforeseen $ Total Fixed Costs Profit before Taxes (G-H) Less Estimated (I *.25) Net Profit (I-J) $ $ (C) $ (D) $ (E) $ (F) $ (G) $ (H) $ (I) $ (J) 15

17 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 $ 16

18 Financing Strategy for Total Start-up Investment Source Personal Savings [ How will you save?] Amount $ Relatives/Friends $ Investor [Who is it?] $ Grant [From Whom?] $ Total: $ 17

19 Return On Investment Return on Investment (ROI) Yearly Net Profit Start-up Investment X 100 % For every $1 dollar invested, my business earned : $ Investment Savings CD Stock Market Entrepreneur Return 18

20 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 19

21 [Enter your mission statement (or slogan if applicable)] Thank you for your consideration of [Enter company name] 21