Making a business plan is one of the projects that serves as a task and as a crucial experience as well.
I can still remember the time when we created our own business plan. My groupmates are very cooperative, and yes, it played a great role in making the outcome great and the process smooth.
So, if you are looking for a sample business plan, this is a website where you can find one. It contains a guide on how to make a suitable business plan and also a sample to serve as your basis should you make your own.
Table of Contents
What is a Business Plan?
A business plan is a strategic document that outlines the roadmap for a business's success.
For Senior High School students in the Accountancy, Business, and Management (ABM) Strand, think of it as a blueprint for your entrepreneurial endeavors.
A business plan contains your business idea, the market you intend to serve, your marketing strategies, financial projections, and the organizational structure you plan to implement.
To make a business plan, it is crucial to exert efforts from listening well in the discussion to actual participation in your group because it serves as a great foundation should you plan to launch or manage business initiatives, whether small or large in the future.
Also Read: The Process of Making Research Title for Senior High School Students: A Simple Guide in Creating One
Importance of Business Plan to Students
Here are the various reasons why a business plan in important to students:
Strategic Planning
A Business Plan will help ABM students in understanding the systematic process of starting and running a business. It helps in setting clear objectives and making strategies to achieve them. As such, it will help them develop a strategic mindset crucial for future entrepreneurs and business professionals.
Risk Management
The planning process of making a business plan allows students to identify potential risks and challenges, preparing them to find ways to handle effectively the possible uncertainties in the business landscape.
Financial Literacy
Making a business plan also enhances students' financial literacy because it will prepare them through various aspects such as budgeting, forecasting revenues and expenses, providing hands-on experience in managing finances responsibly and strategically.
Marketing Skills
Students will be able to learn to analyze the market, understand customer needs, and make marketing strategies. As such, these things will hone their skills in promoting products and services effectively.
Decision-Making Skills
Through the development of a business plan, every students will also be able to enhance their decision-making skills by evaluating different business scenarios and choosing the most viable choice among the options.
Career Preparation
For ABM and Entrepreneurship students aspiring to pursue entrepreneurship, finance, or management related courses and fields in the future, creating a business plan will be of great foundation because its parts will provide every student a glimpse into their future careers. With this, they will be prepared for real-world business challenges.
The Parts of a Business Plan
A business plan may have different parts and styles across organizations and the like. Listed below is one of the formats you may use.
Preliminaries
This portion of the business plan will usually talk about the official name of the business you are planning, the business logo, and the physical address where the business is to be located.
Details such as the description of what your business does or the products or services it offers, and the information about the founders or owners of the business, including their experience and qualifications, should be found in this section.
Here's the template:
Table of Contents
Business Name, Logo, and Address
Nature of the business
Background of the Proponents
Chapter 1
The Chapter 1 of your business plan should talk about the brief overview of your business, including a summarize version of your mission and vision, the products or services you offer, as well as the financial projections.
Specifically, here's the template:
Executive Summary
Chapter 2 - Management and Organization
The Chapter 2 of your business plan should talk about the details on how your business is structured, including the key personnel or proponents, and how the business is capitalized.
Specifically, here's the template:
Company Name, Logo and Address
Vision and Mission Statements
Key Personnel
Workforce and Personnel Support
Organizational Chart
Ownership, Capitalization, Compensation and Incentives
External Management Support
Chapter 3 - Product or Service Plan
The Chapter 3 of your business plan should talk about the detailed descriptions of your products or services, thereby highlighting what makes them unique, and how they will be produced and distributed.
Specifically, here's the template:
Purpose of the Product or Service
Unique Features of Product or Service
Material Requirements and Sources of Supply
Production, Process and Controls Taken
Distribution Logistics
Regulatory and Other Compliance Issues
Chapter 4 - Market Plan
The Chapter 4 of your business plan should talk about the analysis of your target market or the possible customers. You should also include an analysis of your competitors, and lastly, your sales and marketing strategies.
Specifically, here's the template:
The Competitors
Marketing or Sales Strategies
Product or Service Characteristics
Pricing Policy
Sales Projections
Marketing Analysis Summary
Assessment Risk
Chapter 5 - Financial Plan
The Chapter 5 of your business plan should talk about the detailed financial projections, including your startup costs, projected income, and other financial metrics related to the business you are planning to start.
Specifically, here's the template:
Start-up Costs Requirement
| Sample Business Plan Title Ideas | Sample Product or Service Ideas |
|---|---|
| Eco-Friendly Apparel | Organic Cotton T-Shirts |
| Tutoring Services | Accounting, Business, and Management Tutoring |
| Healthy Snack Shop | Fresh Fruit Smoothies |
| Recycled Crafts Store | Handmade Recycled Decor |
| Student Art Gallery | Student Artwork Sales |
| Personalized Stationery | Customized Notebooks and Pens |
| Second-Hand Bookstore | Used Textbooks and Novels |
| Bicycle Repair Shop | Bicycle Maintenance and Repairs |
| Gardening Supplies Store | Seeds, Soil, and Planters |
| Study Space Rental | Quiet, Equipped Study Rooms |
Also Read: How I Survived ABM with Flying Colors
Remember that it is important to carefully write and make every part of your business plan, especially the executive summary part. You should aim to make it the best, not just the bare minimum.
To be able to have a smooth group work, it is of great importance to know each member better, especially on the things they are good at so that you will know what part each member should get.
What a group needs is teamwork, and if my groupmates and I made it happen during our time, I know for sure that you can do it as well. Good luck!