Your pre-teen or teen may have a great business idea and you want to support them, but you also want them to know that there is more to a business than a great idea. This business plan template made just for pre-teens and teens to help them consider all of the things involved with running a business with enough explanation to assist them in creating a well thought out strategy for their great business idea.

business plan for pre-teens and teens

The business plan template for teens includes:

  • Executive Summary

  • Company Description

  • Market Research

  • Marketing and Sales

  • Brand Protection

  • Regulations

EXECUTIVE SUMMARY

 

Describe your company.

What is your company going to do? How is your company going to do it?

 

Will you be a local, national, or targeted market (rural, urban, etc.)?

 

Customers, who will be your target customer?

Will you target consumers, other businesses, middlemen/reseller?

Consumer: What is the age range of the consumer? What are their interests? Will they be buying for themselves or a family member? What is their income level?

 

Business: What size is the company? What is their annual revenue? What do they do? Who is their target audience? How many brick and mortar or online stores do they have?

 

Middlemen/Resellers: How many employees do they have? What other products do they carry? What is the price range of other products?

 

Future of the Company-what will the company look like when it is small, medium, and at its largest?

How many employees? What is your annual revenue? How many products or services are being sold each year? How much are you spending on marketing?

Small

Medium

Large

 

Describe your product or service in ten sentences.

 

 

COMPANY DESCRIPTION

Mission Statement:

The purpose of my company is

Name of your company?

 

Sample sketch of your logo

 

Principal Members/Founders/Immediate Need Personnel

 

Legal Structure

Incorporate- Incorporations are owned by the stockholders. (You will need a board or can appoint yourself to the board positions)

LLC- An LLC is owned by members and operated by either third-party managers or the members themselves.

Sole Proprietorship- Owned by an individual with no employees.

 

 

MARKET RESEARCH

 

What are other similar company’s doing?

 

A detailed description of customers.

List five qualities, attributes, or unique personality traits your customer would have.

 

Your company’s advantages.

Why are you better or different than other companies? (List five reasons)

What will be the top five marketing-specific data points you look at?

Pick one data point and come up with a strategy if the trend is not going as you planned.

 

MARKETING AND SALES

 

Growth Strategy-how much and how often do you plan to grow?

Increase in the number of products sold, customers acquired, etc. for a day/month/year

 

Communicate with the Customer

How will you attract and keep costumers? (List 5 marketing strategies)

 

Break down the costs involved with each marketing strategy?

 

What are five words that describe your brand?

 

1.

2.

3.

4.

5.

 

 

BRAND PROTECTION

 

Intellectual Property Right – How will you legally protect your brand and product?

Trademark – Protects a word, phrase, or symbol or device. Unlike patents and copyrights, trademarks do not expire after a set term of years. Trademark rights come with continued use.  You will still need to file the correct documents on the requested timeline.

 

What office(s) would you file in?

 

How much will it cost?

 

 

Copyright – Copyright is automatically granted once something is created. Think of a picture. Once a photographer has taken a picture, they automatically own the copyright to the image. You can also register for copyright which will give you more legal options if someone infringes.

 

 

What office(s) would you file in?

 

How much will it cost?

 

Patent – Patents protect inventions, so it must be something actually created, not just an idea. The invention must also be “useful” and “non-obvious.” Patents operate under a “first inventor to file” method. If you created an invention first but filed it second you will have potentially lost all of your rights to move forward with the invention.

 

What office(s) would you file in?

 

How much will it cost?

 

 

 

COMMUNITY & REGULATION AWARENESS

 

What are the rules, laws, standards and communities you need to know about for your business to run?

What professional communities should you join?

 

What professional standards, rules, or laws should you be aware of?

 

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