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Table of Contents
A business plan is important to people who want to start their own businesses. This business plan template for kids will serve as a guide to understand how entrepreneurs use business plans to keep them from making mistakes.
See the fact file below for more information on Business Plan Template or alternatively, you can download our 19-page Business Plan Template for Kids worksheet pack to utilise within the classroom or home environment.
Key Facts & Information
Making a Business Plan
- A business plan is an overall outline of your business: how you will be working on it, and how will it bring you profit in the long run.
Determine what business you would like to establish
- Choose a business that interests you, shows your skills, or a business that is needed in your area.
- Determine if your business will offer either a service or a product or even both.
- Think of a business that will make you stand out among your competitors.
Make your business name
- Decide on a business name that is unique but easy to pronounce and remember.
- People should be able to easily determine what your business offers.
- Provide a brief discussion of what your business is all about.
- Include your goals, objectives, your product, and what makes your business different among others.
Plan your team
- You can do your business by yourself, hire employees, or seek help from your family members.
- Identify all your materials and determine the cost for each.
- If you are going to hire employees, compute how much you will pay them.
- If commercial spaces are to be rented, include the renting and utility costs in your expenses.
- After considering all expenses, you can now make a price for your product and estimate how much will be your profit.
Know your market
- Determine who will be your customers.
- Consider the place of your business and research the demographics of the area.
- Are there more professional people, young, old, mothers, fathers, or students?
- Know who will be your competitors.
- Do research on businesses in the same location that have the same product or service as you.
- Identify how long they have been established, how much they charge for their product, and how does their product differs from yours.
- With all the information you have gathered, determine how you can make an edge with your business.
- You can either offer lower prices without sacrificing the quality of your product or you can also offer additional services that your competitors don’t have.
- Think of how you will market your business.
- How will you advertise your business?
- You can promote using social media platforms, send out flyers, make posters, make door-to-door advertising, or whichever strategy you think will work best for your business.
- With an effective marketing strategy, people will get curious about what you sell and this will push the consumers to try your product or service.
Business Plan Template Worksheets
This is a fantastic bundle that includes everything you need to know about Business Plan Template across 19 in-depth pages. These are ready-to-use worksheets that are perfect for teaching students about Business Plan Template for Kids which will serve as a guide to understand how entrepreneurs use business plans to keep them from making mistakes.
Complete List Of Included Worksheets
- Business Plan for Kids Facts
- My Own Product
- Do You Like My Service?
- The Clothing Line
- Free for All
- What Went Wrong?
- In 5 Years…
- Click and Sell
- Special Delivery
- What’s In?
- Show Me Your Strategy
Link/cite this page
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Link will appear as Business Plan Template for Kids: https://kidskonnect.com - KidsKonnect, November 10, 2021
Use With Any Curriculum
These worksheets have been specifically designed for use with any international curriculum. You can use these worksheets as-is, or edit them using Google Slides to make them more specific to your own student ability levels and curriculum standards.