This lesson introduces a 6 day unit on Entrepreneurship in the Hospitality Industry. It works well in our classroom, because we actually operate an on-campus catering business, but it would still be effective as a "virtual entrepreneurship" unit, instructing students on the importanance of a business plan for any operation. Student teams will work on a rough draft of their business plan daily, and have a full class period to create a finished project, which they will present to the class at the end of the unit.
The projected unit schedule:
Day 1 - (This lesson) Introduction and importance of a business plan, rough draft of goals, objectives, and mission statement
Day 2 - Create a SWOT analysis and gather data.
Day 3 - Description of our products and services, conducting marketing research, developing a marketing strategy and identification of potential customers.
Day 4 - Determine start-up cost and operating expenses
Day 5 - Create final draft of business plan.
Day 6 - Present plans (assessment)
Note to instructor : I usually invite a representative from our local SBA office to spend a day speaking to my students (they're usually eager to do so) about what their agency has to offer to businesses, which adds one more day to the unit. . Also, I ask if the SBA advisor can be there when they present their plans, and enlist his/her help in grading the project - it increases the motivation of the students, knowing they well be graded by a "real-world " professional.