The Importance of Business Planning

1. The Importance of Business Planning , 2013 Year 10 GCSE Business Studies

2. Starter Activity What is in a NAME? Can you think of any Business Names based on PUNS! Example: The Cod Father (Fish and Chip shop) Chain Reaction (Bike Shop)

3. Learning Objectives 1) To recall the contents of a business plan (E-D) 2) To describe the purpose of a business plan (D-C) 3) To apply your knowledge by completing a business plan for a given scenario (C-B)

4. Why bother with a Business Plan? • To show potential investors, e.g. venture capitalists (Dragons) • To persuade potential lenders, e.g. the bank manager • To focus on the aims/objectives • To appear organised and professional

5. Can YOU help Mr Cooke?

6. Mr Cooke’s Energy Drinks • Chelmsford RFC have enjoyed their best start to the season, with 6/6 wins. • Mr Cooke has worked closely with Britvic to develop a new energy drink aimed at athletes competing in high endurance sports. • The product is called XL

7. In pairs, think of what might be included in a Business Plan, i.e. What would the Bank Manager need to know from Mr Cooke about his new business idea? What details must Mr Cooke consider when starting up his business? E.g. Who are his competitors? Contents of a Business Plan

8. Contents • Personal Details • Business Details • Business Aims/Objectives • Prices • Information about the market • Potential Customers • Competitors information • Location • Advertising/Promotion • Financial Information

9. Who would win? Mr Cooke isn’t sure if the document that you have in your hands is a WASTE OF TIME. Which would win in a fight when seeing the Bank Manager?

10. Learning Objectives 1) To recall the contents of a business plan (E-D) 2) To describe the purpose of a business plan (D-C) 3) To apply your knowledge by completing a business plan for a given scenario (C-B)

11. Plenary • Post-it note