REGISTRATION IS NOW OPEN

CBS Connects is hosting a Young Entrepreneurs Day for Parma City School District students in grades 3 through 6.  Students will work through online modules to come up with a product or service and learn how to design, budget, and market their product or service to customers.  We will be holding an event on Saturday, March 30, 2019 at Normandy High School for students to showcase their business idea to the community and judges.  Our title sponsor University Hospitals Parma Medical Center will be providing cash and prizes to our winners!  You may work with one other student participant on your business as long as they are in grades 3-6. 

With this being a new event, we understand that there might be questions as we go through the process.  Please feel free to leave a message on our Question and Answers Board and we will respond to questions as they are posted.  We want to make this a positive experience for all of our participating entrepreneurs. 

Timeline of Events:

November 1, 2018: Registration for intent to participate is now available (Complete online form below)

January 16, 2019:  Online curriculum and modules will be released

Week of January 21, 2019 to First Week of March 2019:  Poster Board drop off to schools for any students who are participating in Young Entrepreneurs Day

March 6, 2019: Mentor Night at Valley Forge High School from 6PM to 8PM in the Cafeteria where our Young Entrepreneurs can work with students in our Cooperative Marketing Management course on their business boards and talk about their ideas.  

March 1, 2019:  Intent to participate submission deadline

March 15, 2019:  Complete your booth registration form online

April 6, 2019:  Young Entrepreneurs Day at Normandy High School

9:30AM-10:00AM Table Setup

10:00AM -11:00AM Judging

11:00AM-11:30AM  Entrepreneurship Presentation in Auditorium

11:30AM-11:45AM Awards Ceremony

 

CLICK HERE FOR YED PRINTABLE WORKBOOK

 

INTENT TO PARTICIPATE FORM

 

Registration will be limited to the first 100 participants who complete the Intent to Participate Form

 

Module 1: Welcome/YED Checklist
  1. Complete intent to participate form listed above Module 1 by March 1, 2019
  2. Complete the 7 online modules by March 15, 2019
  3. Optional- Attend the mentoring evening at Valley Forge High School on Wednesday, February 20, 2019 6PM to 8PM in the Cafeteria. 
  4. Tri-Fold display board- available for pickup on February 20th at Valley Forge High School or can be delivered to your school buildings.
    1. Email pricem@parmacityschools.org to request board drop off
  5. Complete your Booth Registration Form by March 15, 2019
  6. Complete your Tri-Fold Board according to the Module 7 see the example below
  7. Attend the Young Entrepreneurs Day event on Saturday, April 6, 2019 at Normandy High School
    1. Attire that students wear is flexible, they can dress professionally, casually, or as it relates to their business
    2. Registration/Booth Set-up/Breakfast 9:30AM to 10:00AM
    3. 10:00AM to 11:00AM judging
    4. Entrepreneurship Presentation 11:00AM to 11:30AM in Auditorium
    5. 11:30AM to 12:00PM Awards in Auditorium

 

CLICK HERE FOR YED PRINTABLE WORKBOOK

Module 2: Becoming an Entrepreneur

Module 2: Becoming an Entrepreneur

 

Entrepreneur: A person who owns and runs a business of some sort. 

 

Watch the video below to learn more about what an entrepreneur is! 

 

Business Plan

 

Business Plan: A written document that shows all the decisions that you have made for your business. 

 

Parts of your Business Plan:

Business Name

Your Business Idea: Providing a Good or a Service

Marketing Plan: Business Slogan, Business Logo, Target Market

Budget Plan: Expenses, Profits, Cost of Good Sold

 

Goods and Services

 

Good: A good is a tangible object that satisfy peoples wants and needs.  Goods are items you buy such as food, clothing, and toys.  

 

Service: A service is an action that someone does for someone else.  Services are actions like haircuts, lawn mowing, mail delivery, and car repair.  

 

Let’s watch the video below to learn more about goods and services! 

 

Marketing Plan Words

 

Logo: A sign or symbol that identifies a company or a brand.

 

Slogan: A business slogan is a simple or catchy phrase that when written well, represents your good or service idea and associates them with a brand. Sometimes a slogan is called a tagline.

 

All successful businesses have a LOGO and/or SLOGAN that people identify with that product! Can you name the business associated with each of the logo’s and slogan’s below?

 

Famous Logos: 

 

_________________________________        ___________________________________    _______________________________

 

Famous Slogans:

“Taste the Rainbow”         “Just Do It”        “Can you hear me now? Good!”

_______________________________            _____________________         ______________________________________________

Watch this video about the power of advertising slogans!

 

 

Target Market: Is the group of customers that you are aiming to sell your good or service to.  

 

Budget Plan Words

Budget: A list of all planned expenses and revenue

Start Up Cost: How much will it cost to start your business?

Pricing: How much will you charge for your product or service?

Revenue:  What you are charging your customer for one unit of good or service. 

Expenses: All of the costs related to your business.

Profit: The amount of money gained from sales after expenses are paid.

Cost per unit: The expense to make one good or perform one service. 

 

 

 

 

 

 

Module 3: Brainstorming Your Business Idea

Module 3: Brainstorming Your Business Idea

Watch the video below about brainstorming business ideas

When coming up with a business idea you want to make sure you think outside the box, watch the video below about thinking outside the box!

 

Now that you have come up with your business idea, it is time to do a mind map. 

 

1. Who will be your Customers?  Your customers we be the people that will be most likely to buy your product.  For instance if you were selling a product

 

Where will your business be located?  Think of a place where your customers will be or would come to in order to buy your product or service, you could be located in a shopping center, outside of a store, at your home, you could sell online.

 

Who are your competitors?  Your competitors will be people or businesses that will be selling products or services similar to yours.  You will want to think about local competitors in the same area as you or national competitors that could be selling from anywhere.  

 

What skills do you need in order to run your business?  For instance if you are selling cupcakes you will need to know how to measure ingredients and bake, if you are doing a lawn mowing business you will need to know how to operate a lawn mower.        

 

Why is your business needed?  Is your product or service something new and innovative that will make people’s lives easier, is your product or service something people might have but yours is a better version?  Why do you think customers need your business?

 

Business Mind Map

 

CLICK HERE FOR YOUR PRINTABLE MIND MAP

Module 4: Creating Your Business Name

Module 4: Creating Your Business Name

Please watch the videos below on businesses creating their business names

How to Select Your Business Name

  1. Your business name is one of the most important parts of your business.
  2. Your business name needs to send a message that is clear and simple.
  3. Your business name is the first thing your buyers will see or read!!
  4. The name needs to sound good when it’s said aloud.
  5. Use a name that has meaning to it and relates to your business.
  6. Make sure you are allowed to use the name.

You cannot use a name that another person is already using.

If a name is being used and it is registered that name is TRADEMARKED and cannot be used by anyone else.

  1. Check if you can use your business name
    1. Go to the below web address 
    2. https://www.uspto.gov/trademarks-application-process/search-trademark-database
    3. Click on Search our trademark databases 
    4. Click on Basic Word Mark Search 
    5. Enter your business name in the “Search Field” then press “Submit query” button5. If name comes back “live” you cannot use that name and have to find another name

My Business Name is _________________________________________

Module 5: Creating Your Marketing Plan

Module 5: Creating Your Marketing Plan

Marketing is one of the most important parts of running a business.  Marketing your business is how you let your customers know about your businesses product or service.  

 

Marketing Plan

There are different ways to promote your product or service, below are some of the different marketing strategies that you can use to promote your business. 

Paid Advertising:  This is marketing your product or service through things like radio and TV commercials or ads in the newspaper.

Social Media Marketing: You can use social media sites like Facebook, Twitter, and Instagram to promote your product or service to followers. 

Internet Marketing:  You can have a website or pay to advertise your product or business on the internet. 

Cause Marketing:  This is linking your business to a specific cause that people would want to support.  For instance you could say that 10% of your profit will go to a certain charity, people who want to support that charity will be more likely to buy your product or service to help support your charity.  

Relationship Marketing:  This relies on building a good customer base through good customer service where customers are loyal to your business and will repeatedly buy your product or service. 

Word of Mouth Marketing:  This is traditionally the most important marketing strategy as it is free to the business, but the best way to get business is to provide great customer service and have your customers tell other potential customers about your business.  

What types of marketing strategies will you use? Why did you choose those marketing strategies?

_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Business Logo

In the introduction to being an entrepreneur we talked about the importance of having a logo that customers can identify with, now is your chance to create a logo for your business. 

Logo: A sign or symbol that identifies a company or a brand.

 

 

Take a plain piece of paper or use the sheet in the printable handout to create your business logo for your tri-fold business board.  

 

Business Slogan/Tagline

In the introduction to being an entrepreneur we also talked about creating a slogan or tagline that when hearing makes customers think of your product.  

Slogan/Tagline:A business slogan is a simple or catchy phrase that when written well, represents your good or service idea and associates them with a brand. Sometimes a slogan is called a tagline.

 

 

What will be your business Slogan/Tagline? __________________________________________________________________________________________________________________________________________________________________________________________________________________________

Module 6: Creating Your Budget

Module 6: Creating your Budget Plan

 

Now it is time to talk about money and how much money you can make running your business. In this section we will revisit the following terms:

 

Start Up Cost: How much will it cost to start your business?

Pricing per Unit: How much will you charge for your product or service?

Revenue per Unit:  What you are charging your customer for one unit of good or service. 

Profit: Cost Per Unit – Revenue Per Unit = Profit

Cost per Unit: The expense to make one good or perform one service. 

 

Startup Costs:

How much will it cost to start your business?  What will you need to buy before you can get started? Materials? Equipment? How much will those things cost?  The amount of money you need to launch your business is called the “startup cost” For example you if you are starting a cookie business your start up costs would include your ingredients, your materials such as pans and cookie sheets and any materials used for packaging your cookies, this would also include any costs you have for marketing your product or service. 

Materials/Equipment Needed:                                                                         Cost:

____________________________________________________                    ___________________________________________

____________________________________________________                    ___________________________________________

____________________________________________________                     ___________________________________________

____________________________________________________                     ___________________________________________

____________________________________________________                     ___________________________________________

____________________________________________________                      __________________________________________

____________________________________________________                      __________________________________________

Where will you get the money to cover your start up costs?  Are you getting a loan from a family member?  Using money that you have saved up?

_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

 

Cost Per Unit:

Your Cost Per Unit is the total amount of all of your start-up costs from above divided by the total number units you make. 

For example if you are starting a cookie business and all of your start-up costs equal $100 and with those materials you are able to make 200 cookies then your cost per unit would be 50 cents.  100 / 200 = .50

Another example if you are providing a service like hair cutting and your start-up costs equal $100 and you plan on giving 20 haircuts then your cost per unit would be $5.  100 / 20 = 5

What is the cost of making each product or providing one unit of service?  $ ________________

 

 

 

Pricing: 

How much will you charge per unit or one unit of service? _________________________________

How does your pricing compare to your competitors: __________________________________________________________________________________________________________________________________________________________________________________________________________________________

** Make sure that you set your price above the cost per unit**

 

Profit:

Your profit is the amount of money that you will make on each sale after you subtract your expenses. 

Profit = Sales Price Per Unit – Cost Per Unit 

Profit: ____________________________

What will you do with the money that you make? Will you buy more supplies? Save for college? Donate to a charity? Make a plan for spending, saving, and sharing.  What are your financial goals?  Don’t forget to set aside money to reinvest into your business.  

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Module 7: Complete Your Business Plan/Design Your Business Board

Each participant will receive a 36″ x 48″ tri-fold board for their booth.  Participants are required to list the following information from their business plans on their boards to present to the judges.

  1. What is the name of your product or service business (copyright check)?
  2. Business Logo
  3. Business Slogan
  4. Brainstorming Mind Map
  5. Budget Plan
    1. Startup costs
    2. Cost per unit
    3. Pricing per unit
    4. Profit per unit
  6. Marketing Plan
    1. Who will be your customers?
    2. Where will you sell product or service?
    3. How will you market/advertise your product or service?
    4. What is your slogan?
  7.  Overall Business Plan

PRINTABLE BUSINESS PLAN FORM

Once you have listed this information on your tri-fold board you are free to be creative with the remaining space on your board as well as the space that you have on your table in front of your board. Attire that students wear is flexible, they can dress professionally, casually, or as it relates to their business.

 

BOOTH REGISTRATION FORM