This will be the second lesson of the Entrepreneurship Unit. The unit project is writing a business plan for a catering business (2 person team), The first lesson "Let's Start a Catering Business" is also available at CTE Online.
In this lesson, students will continue working on their project, learning to do a SWOT analysis and describing the products and services that the catering company will offer.
The projected unit lessons:
Day 1 -Introduction and importance of a business plan, rough draft of goals, objectives and mission statement
Day 2 - (This lesson) Create a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and gather data
Day 3 - Description of our products and service, conducting marketing research, developing a marketing strategy and identifying 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.