Park View Education Centre

Park View Education Centre

Entrepreneurship 12

“Business for a Day”

Mini Venture Project

Student Name:______

Park View Education Centre

1485 King Street
Bridgewater, NS
B4V 1C4

April 20, 2007

To Parents/Guardians, and Young Entrepreneurs,

What distinguishes Entrepreneurship 12 from other courses is that students actually have the

opportunity to learn by doing. One aspect of the program will be running a ‘business for a

day’ venture. Before you embark on this process, we want all parties involved to be aware of

the guidelines and expectations. These expectations are outlined in the Business For A Day

Project booklet. Outlined below are some guidelines that must be followed in running your

own business:

Guidelines for Running Your Own Business:

1. Your business must be a legal venture designed to provide a service or product to your

school community. A request form for approval of your business idea MUST be submitted

before you run your business.

2. The business is your own and you and your partners are responsible for any costs or

liabilities incurred in the running of the business. The school is NOT RESPONSIBLEfor any losses incurred in the operation of the venture. You are advised to invest onlywhat you can afford. School administration approval must be received for each venture beingoperated within the building.

3.The date the ventures will be run in the school is Friday, May 18, 2007.

4. An end of venture report is due on Monday, June 4, 2007. Every individual is expected to complete a written report. Class presentations of your venture will take place after thereports have been completed and submitted. Presentations of your venture will take placeJune 11, 2007.

.

5. Some suggestions for a successful venture include teamwork, good communication,creativity, and planning. You may request advice or input from your teacher during anyphase of the venture. If you choose to work with a partner(s) you are expected to work outany partnership difficulty yourself. The mark received for the venture effort will be the samefor all partners.

Review of the Timeline:

Venture proposal due: Friday, May 4, 2007

Mini Venture (Business for a Day): May 18, 2007

End of venture report-due: June 4, 2007

Class presentations –June 11, 2007

Good Luck! Have Fun! Show your Entrepreneurial Spirit!

Parental questions orconcerns may be addressed by phone 541-8200 or email

Yours truly,

Errin Monahan

Mini –Venture: Run a“Business for a Day” Project

Mini Venture – “Business for a Day”Project Evaluation

There are 3 parts to this assignment.

I. Process – Value 20%

• Planning – includes: writing a business plan, being resourceful, creative, interested, organized
• Effort – includes:co-operation with teacher/partner, using class time wisely, problem-solving, responsibility, meeting deadlines
• Implementation (Running the business) -includes: organization, enthusiasm, interest (passion), business skills, creativity, resourcefulness, customer service.

This venture must take place during the regular school day.

Target Day: May 18, 2007. Set up beginning at 9:30am. Open for business at 10am until 1:30pm. Tear down and clean up – 1:30-2:00pm. Back to regular classes.

Refer to: Evaluation Rubric for “Business for a Day Mini Venture”

II. Assessment/Reflection of the Mini Business Venture – Value 15%

• Business End of Venture Report

Refer to: Report guidelines

III. Presentation of Mini Venture for entrepreneurship class – Value 5%

• Suggestions: PowerPoint, use of photos, samples of your product or service.

Total Project Value 40%

Business Plan Information – PART 1 20%

This is part of your planning mark. Each venture must have a report that outlines the following information:

1. Venture Description
2. Company name
3. What is the nature of your business?
4. Form of ownership
5. Founder(s)
6. Location

1. Target Market - Those individuals or organizations that are likely to want to use what you can provide. Examine and explain the key aspects that are relevant for your target market from the common market segment list. Make sure you provide a clear picture of your customers.

Demographic: people of the same . . .

Sex

Age

Marital status

Family size

Stage of family life cycle

Socioeconomic: people of similar . . .

Occupation

Education

Income

Social class

Culture

Geographic

People who live in regions of the country that could be defined by a specific climate, or by provincial or regional boundaries

Psychographic

people with similar lifestyles or personality attributes

Behaviour patterns

People who can be identified by when, where, and how often they shop, as well as by their media habits

Consumption patterns

People who can be identified by their knowledge about, and loyalty to, particular products or brands

1. Competition – Direct and indirect competition. Who will be competing for your sales? Don’t just think about the other ventures but think about the school as a whole.

SWOT!

• What are the strengths and weaknesses of your competition?
• What threat might they be to your company?
• Are there any opportunities that exist for your company because of this competition?

1. Marketing Plan – You must cover the 4 P’s in your marketing plan.

• Product – is your idea unique
• Place – where will you sell your product, design your storefront
• Pricing Strategy – explain how you chose the price (use a strategy learned in class and take into account competition, cost of labour, rent, other expenses)
• Promotion Strategies – Advertising campaign, slogan, logo, etc.

ALL ADVERTISING MUST BE SIGNED AND APPROVED BY ME!

1. Business Operations – Human resources and suppliers. Outline the strengths and weaknesses of the business owner(s). Create job descriptions for your owners. Will you need any additional help? If so, how will you “hire” them? Will you pay them? If you are having employees create additional job descriptions.

1. Profit Projection - How have you calculated your sales on the cash flow forecast? How many customers do you project you will have based on your target market within the school? How much do you expect to make? How?

How are you planning to finance your business, or cover start-up costs?

Personal Savings Parents

Cash Flow Projection Worksheet (Before venture)

Revenue / $
Estimated sales
Funding (loans)
Total Net Revenue / $
Expenses / $
Equipment costs
(rent/purchase)
Materials (cost of making your product or providing services)
Advertising
Misc. (phone calls,
stationery, gas)
Total Expenses / $
Revenues minus Expenses = Net Profit/ Loss

1. Appendix: Should include a sample of your logo, a drawing of your storefront, sample advertisements, sketches of your product or service

• Complete a venture proposal sheet. This must be approved prior togoing to the next step.

(Proposal deadline: May 4, 2007).

You willhave a reply no later than May 7, 2007.

• Upon approval of your venture proposal, you must sign a contractual agreement with thecourse facilitator.
• Final Report- EACH PERSON WRITES THEIR OWN REPORT FROM THEIR OWN PERSPECTIVE!
• Presentation

Venture Proposal – DUE MAY 4, 2007

Business Name and Profile Owner(s):

Business Idea:

Opportunities to start a business … Why is it a good idea?

Objectives:

Location – Where would you like to be located within the cafeteria?:

Tasks that will help start the business – Your to do list:

Materials Required:

How will I measure success?

A. For the Business

B. For myself and my own efforts?

Contractual Agreement

THIS AGREEMENT made on this ____day of ______(Month) ______(Year)

BETWEEN:

The facilitator(s) of this course

______(Facilitator’s Name)

(Hereinafter referred to as the “facilitator”)

-and-

______(Student’s Name)

(Hereinafter referred to as the “student”)

WITNESS that for consideration, including the mutual covenants and agreements herein contained, the parties hereto covenant and agree with each other as follows:

I. Term

i. The Term of this agreement is for the period stating on the date above and terminating at the end of the entrepreneurship course, unless terminated earlier pursuant to this agreement.

II. Commitment

i. During the term of this agreement, the student commits to completeactivities as outlined on the Mini venture – Business for a Day Projectoutline including, but not limited to:

ii. Meeting venture criteria and guidelines:

iii. Planning the mini venture including generating an idea, making a writtenventure proposal that explains the objectives, how they will be achieved,and how success will be determined, receiving venture approval,working with a partner or alone to plan all of the relevant details of thebusiness venture and report the progress of the plan;

iv. Run a mini venture;

v. Write a venture report and share the relevant details of the report with the entrepreneur class.

III. Evaluation

i. Prepare a presentation which will be shared with the class explaining his or her venture, including an analysis of the venture successes and challenges.

ii. The assessment rubric will be completed by the facilitator to evaluate each of the three stages of the project – Planning, Implementation, Reporting.

iii. Students will be expected to come up with a creative idea. Purchasing elements may be required to create your business BUT if you simply purchase a product and resell it without trying to be creative your grade will be negatively affected.

IV. Property

i. All reports and evaluation papers contained in the project package arethe sole property of the facilitator and Park View Education Centre and will be used for assessment, project analysis and communication of same to relevant parties.

ii. All research, papers, materials and information forming part of or produced in the performance of this Mini venture project; All copyrights, patents, trademarks and industrial designs thereto or rising therefrom, and profits are the property of the student.

V. General

i. The student shall not assign or subcontract this agreement or any part thereof without the written consent of the facilitator whose consent may be withheld for any reason whatsoever.

ii. This agreement and approved venture approval attachment hereto referred to herein constitute the whole agreement between the parties unless modified in writing and signed by both parties.

iii. This agreement shall be constructed and interpreted in accordance with the laws of local/regional jurisdiction and Park View Education Centre.

iv. Students must be present the day of their mini venture. This is worth 20% of your grade and the report and presentation (another 20%) will likely be incomplete.

IN WITNESS WHEREOF the parties hereto have caused this agreement to beduly executed the day and year first above written.

SIGNED, SEALED and DELIVERED

In the presence of:

______(Facilitator)

______(Student)

______(Witness)

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ENT 12 – Venture Package

Evaluation Rubric for “Business for a Day” Mini Venture

ValueRange / 0-4 / 5-6 / 7-8 / 9-10
Category
PLANNING
Creativity
Idea Generation
Preparation
Organization
Effective use of
Resources and Business Plan / PLANNING
Little to no evidence of:
Creativity
Idea Generation
Preparation
Organization
Effective use of
Resources and Business Plan / PLANNING
Inconsistent evidence of:
Creativity
Idea Generation
Preparation
Organization
Effective use of
Resources and Business Plan / PLANNING
Consistent evidence of:
Creativity
Idea Generation
Preparation
Organization
Effective use of
Resources and Business Plan / PLANNING
Outstanding evidence of:
Creativity
Idea Generation
Preparation
Organization
Effective use of
Resources and Business Plan
Value 10
EFFORT
Co-operation with teacher/partner
Using class time wisely
Problem-solving
 Responsibility
 Meeting deadlines / EFFORT
Little to no evidence of:
Co-operation with teacher/partner
Using class time wisely
Problem-solving
 Responsibility
 Meeting deadlines / EFFORT
Inconsistent evidence of:
Co-operation with teacher/partner
Using class time wisely
Problem-solving
 Responsibility
 Meeting deadlines / EFFORT
Consistent evidence of:
Co-operation with teacher/partner
Using class time wisely
Problem-solving
 Responsibility
 Meeting deadlines / EFFORT
Outstanding evidence of:
Co-operation with teacher/partner
Using class time wisely
Problem-solving
 Responsibility
 Meeting deadlines
Value 10
IMPLEMENTATION OF
MINI VENTURE
Organization
 Co-operation
 Remained at booth
Enthusiasm
Interest (Passion)
Engagement/Commitment
Business Skills
Creativity
Resourcefulness
Customer Service / IMPLEMENTATION OF
MINI VENTURE
Little to no evidence of:
Organization
 Co-operation
 Remained at booth
Enthusiasm
Interest (Passion)
Engagement/Commitment
Business Skills
Creativity
Resourcefulness
Customer Service / IMPLEMENTATION OF
MINI VENTURE
Inconsistent evidence of:
Organization
 Co-operation
 Remained at booth
Enthusiasm
Interest (Passion)
Engagement/Commitment
Business Skills
Creativity
Resourcefulness
Customer Service / IMPLEMENTATION OF
MINI VENTURE
Consistent evidence of:
Organization
 Co-operation
 Remained at booth
Enthusiasm
Interest (Passion)
Engagement/Commitment
Business Skills
Creativity
Resourcefulness
Customer Service / IMPLEMENTATION OF
MINI VENTURE
Outstanding evidence of:
Organization
 Co-operation
 Remained at booth
Enthusiasm
Interest (Passion)
Engagement/Commitment
Business Skills
Creativity
Resourcefulness
Customer Service
Value 10
Value 20% / /30 marks

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ENT 12 – Venture Package

End of Venture Report – PART 2 15%

At the end of your venture, students are required to submit a report. It is in thisreport that students will present a summary of goals and objectives, including afairly detailed account of how these were achieved. The following is a sampleformat of what is required to be in the report.

1. Cover Page

• Your name/names, class, date, teachers name
• Venture name and type
• Company or organization’s name and logo

2. Table of Contents

3. Introduction

• A description of the venture (What it is, what were its goals, who andwhat was involved.)

4. Timetable and Outline

• What was accomplished and when was it accomplished (use a dailyplanner format). Tell me about all the tasks, who did what, when and how long did it take you?)

5. Marketing

• To whom did your product/service appeal?
• How did you reach your customers?
• Did you advertise and if so, how?
• Where, when, and to who did you sell?
• Did you make up and/or follow a marketing plan?
• Did you do some preliminary market research?

6. Physical Resources and Operations

• Location of product sales: How did you choose it? Were you happywith it?
• Equipment and materials: What criteria did you use to choosematerials? Were you satisfied?
• Production process: How did you produce your product? Who helped?Where was it done? How long did it take? Describe the procedure.Were you satisfied with it?

7. Human Resources

• Discuss the business owner(s). What strengths and weakness did they bring to the venture?
• Did you require assistance?
• From whom?
• Were they paid?
• How were they selected?
• How did they do?
• List the tasks that each person in your business completed.

8. Financial Resources

• What were your expenses, sales, profits?
• How did you set your prices?
• Submit any statements which account for your cash.

The Simple Income Statement (After venture)

Revenue
Sales / $
Total Sales / (1)
Expenses
Costs / $
Total Costs / (2)
Profit
(1) - (2) = Profit / $

9. Termination

• Is your entrepreneurial activity finished or will you continue in thefuture?
• Could is continue outside of PVEC? Why or Why not?
• How did it end?

10. Conclusion

• Was your entrepreneurial activity successful? What would you dodifferently next time?
• What did you learn about yourself in carrying out the running of yourbusiness? If you worked with partners, how would you assess thesuccess of your partnership? What did you learn about the personalcharacteristics of your partners? Would you choose to work with thesepartners again? Why or why not?
• What have you learned about your entrepreneurial skills?
• What did you like or dislike about this activity?

End of Venture Report Evaluation Rubric

Evaluation Items / Value / Mark
Cover Page / 3
Table of Contents / 1
Introduction / 2
Time Table / 2
Marketing / 6
Physical resources and Operations / 5
Human Resources – Tasks / 5
Financial Resources / 5
Termination / 1
Executive Summary / 5
Total – 15% / / 35 marks

End of Venture Presentation – PART 3 5%

Time – Must be 5 minutes long

As a wrap up of your mini venture project, which in total is worth 40% of your grade in Entrepreneurship 12, you must complete a presentation to the class and teacher. You must have a visual of some kind, meaning a poster or PowerPoint. Within your presentation you need to cover the following material:

A description of your business including why you decided on the idea

Provide an overview of the owner(s) complete with your strengths as a business operator.

Highlight your business operations on May 18, 2007. Describe what you did? (Store front, display, sales techniques, customer service)

List any complications that you encountered and how you dealt with – were the complications a result of poor planning or something else?

Highlight at least two positive aspects of your business that you think you did well.

Explain two things you would do differently next time.

What advice would you give to another group of students completing this project?

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ENT 12 – Venture Package