Introduction

This is the first step on your journey to creating a business. All successful businesses will have started off with really good ideas and plans. Don’t be afraid to keep changing your ideas and plan until you get it right.

Things to think about

Can you come up with an idea for a business?

What skills/interests do you have?

Think about products and/or services. Write down some different ideas.

Which idea would you like to develop into a business?

What are your reasons for wanting to develop this business?

Watch and take notes

Watch the two episodes of Dragons Den (junior) and note key points about the pitches and the business ideas.

What is important about the business plan? What questions did the dragons ask? What did you like about the pitch?

Things to do

Look at the example and start to think about what you would like to include in the plan

Kids’ business plan

 

Watch the video to get some more ideas.

Business plan headings

Company name

The idea

Marketing

Pricing

Profit

Improving your idea

Market research

Contact four people to get their thoughts about your business idea. Create a table like the one below. Make the boxes as big as you need. You could use paper or a tablet device to make the table.

Person 1 Person 2 Person 3 Person 4
How often do you think you would use the business?
How much do you think this service/product should cost?
What would make you choose my business over a competitor?
What do you think is important in maintaining customers?
Your question

Use the market research feedback to make any changes to your business plan.