Here is Step 3 of the Fiver Challenge. Remember, if you complete all 4 Steps, you will receive a certificate from me at the end of the challenge.
Step 3 – Plan it!
Your Business Plan
Now that you have your business idea and know what your customers think, you can put together a business plan. Answer the questions below to create your business plan.
What is your business name?
What will your Fiver business sell?
How much would your product/service cost?
Would you do any discounts if people buy more? E.g. buy 2 get 1 free
Do you have any plans to include recycling or sustainability in your product/service?If yes, how?
Who are your target customers? E.g. family/ friends
What materials would you need to get started?
What makes your business special? This is called a Unique Selling Point (USP)
How can you make sure all the products/ every service is the same?
Where would you sell your product/ carry out your service? E.g. outside your house
How would you let customers know about your business and where to buy it? E.g. a poster
Product / Service – What would it look like?
Design your product, labeling any special features or materials you will use.
If your business is not selling things, then draw an advert or a poster for your business.
Looking forward to reading your business plans and seeing your designs don’t forget to email them to your class email or bring them into school.