Entrepreneurship project
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Learning Objectives
- 1Define entrepreneur and business plan
- 2Identify the parts of a business plan
- 3Calculate profit from price and cost
- 4Plan a simple kid-friendly business
Mini Lesson
An ENTREPRENEUR is a person who starts a business. They notice a problem people have, dream up a way to solve it, and then build a small business to sell that solution. The world’s biggest companies all started as one person with an idea — a kid selling lemonade is doing exactly the same job, just smaller. The skill that turns a daydream into a real business is called a BUSINESS PLAN.
What is a Business Plan?
A BUSINESS PLAN is a roadmap for a business. It is a short, written-down list of decisions: what you will sell, who will buy it, what it will cost to make, what you will charge, and how you will let people know about it. A plan does not have to be long — one page is plenty for a kid project — but every part needs an answer. If a part is missing, that is usually where the business goes wrong.
The Key Parts of a Business Plan
- IDEA — what is the product (a thing you make) or service (something you do)?
- TARGET CUSTOMER — who exactly will buy it (kids in your block? parents? sports team?).
- PRODUCT OR SERVICE — describe it in one clear sentence so anyone understands.
- COST — how much you spend to make ONE (cups, lemons, sugar, paint, signs).
- SELLING PRICE — what you charge the customer for ONE.
- PROFIT — the money you keep: PRICE minus COST.
- MARKETING — how you will tell customers your business exists.
- RISKS — what could go wrong and how you would handle it.
Profit: The Big Idea
PROFIT is the money you keep AFTER paying what it cost to make the thing. The rule is simple: PRICE minus COST equals PROFIT. If you sell a cup of lemonade for $1 and one cup cost you 30 cents to make, your profit is 70 cents. If your price is LOWER than your cost, you LOSE money — that is called a loss. Smart entrepreneurs always know both numbers before they sell anything.
Lemons, sugar, cups, and a sign cost $5 to make 5 cups. You charge $2 a cup and sell every cup.
What is the profit?
Profit is always SALES minus COST. The $5 left over is what the entrepreneur keeps.
Marketing — Telling People
A great product nobody hears about does not sell. MARKETING is how you tell people your business exists. It can be a hand-drawn sign, a flyer on a fridge, a post on a parent’s social media, word of mouth (telling friends), or a free sample. The best marketing answers two questions for the customer: WHAT is it? and WHY should I want it?
Risks and What Could Go Wrong
- NOBODY BUYS — your price is too high, or customers cannot find you. Fix: lower price or move to a busier spot.
- YOU RUN OUT — you sell every cup in 10 minutes and have nothing left. Fix: make more next time.
- COST IS TOO HIGH — you spend more than you sell for. Fix: cheaper supplies, or charge more, or make more per batch.
- BAD WEATHER — outdoor sales fail in rain. Fix: have a backup day, or sell something rain-friendly.
Important: always tell a parent BEFORE you start selling. Use safe ingredients, keep money in a labeled jar, and never sell to strangers without an adult nearby.
Tip: start small. Five lemonade cups, ten bracelets, three dog-walks — a tiny first run teaches you what works WITHOUT risking a lot of money. Real entrepreneurs run little tests first too.
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