A Document to Attract Investors: Sample Business Plan for ABM and Entrep Students

Making a business plan is not a one-sitting project, regardless of if it's for academic purposes or for a business. It requires patience and various skill researching for facts and trends, but at the same time, it allows growth and meaningful experiences.

I can still remember the time when we created our own business plan. My groupmates are very cooperative, and yes, it played a great role in making the outcome great and the process smooth.

It is not rare to find good team members. Sometimes, having the right leadership skills can bring out the best in each member. And that's exactly what I did before. However, that is now what we're going to tackle since we are going to discuss first the concepts and theory.

It guides you on how to make a suitable business plan and also a sample to serve as your basis should you make your own.

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Main Points

A business plan acts as a detailed document outlining the strategies and steps required to run and grow an entity. This includes goal, mission and vision.
It serves as a sitemap for the business to identify ways how to achieve success and sustain itself in the industry it is running.
A tool used to attract investors so it has to be concrete and must demonstrate the ability to generate profit.

Sample Business Plan for ABM and Entrep Students

What is a Business Plan?

A business plan is a strategic document that outlines the roadmap for a business's success. When we talk about strategic, it usually means long term. There are short-term business plans, though, but for those who want their business grow big but need funds from investors, they usually plan for something longer. This is to meet the goal and maximize profits better.

For Senior High School students in the Accountancy, Business, and Management (ABM) Strand, think of it as a blueprint for your entrepreneurial endeavors. While it may be just theoretical in nature, you may opt to choose what is more practical so you can better apply the skills in your future undertakings.

Whether you're new to it or not, understand that a business plan contains your business idea, the market you intend to serve, your marketing strategies, financial projections, and the organizational structure you plan to implement.

To make a business plan, it is crucial to exert efforts from listening well in the discussion to actual participation in your group because it serves as a great foundation should you plan to launch or manage business initiatives, whether small or large in the future.

Also Read: The Process of Making Research Title for Senior High School Students: A Simple Guide in Creating One

Importance of Business Plan to Students and First-Time Business Owners

We often hear left and right advice about putting up a business. But one thing that some individuals fail to do is conducting first a business plan. They already invested some amount of money only to regret later on because the business did not grow the way they envision it.

Now, here comes the necessity to understand the concepts. While you do not need to spent years, it requires time and patience to actually do it in action and make it successful.

So, here various things that must be gained and why it is important to students and first-time business owners.

Strategic Planning

A business plan helps in understanding the systematic process of starting and running a business. It is useful in setting clear objectives and making strategies to achieve them.

As such, developing strategic mindset is crucial for future entrepreneurs and business professionals. This can be achieved by constant planning and thinking of possible outcomes. You may start from narrow range and make it wider later on.

Risk Management

The planning process of making a business plan allows you to identify potential risks and challenges. This prepares you to find ways to handle effectively the possible uncertainties in the business landscape.

You can always start small. Be it a simple personal challenge, you will gradually develop your skill in assessing risks and how to manage them properly.

Financial Literacy

Making a business plan also enhances your financial literacy because it will prepare you through various aspects such as budgeting and computing for mark-ups and profit.

As you keep on gaining knowledge while practicing it such as managing your own finances or you small variety store if you have one, you can later on appreciate forecasting revenues and expenses as every hands-on experience helps in managing finances responsibly and strategically.

Marketing Skills

You will also be able to learn to analyze the market, understand customer needs, and make marketing strategies through series of group activities. As such, these things will hone your skills in promoting products and services effectively just like what we see in the TV ads.

Decision-Making Skills

Through the development of a business plan, you will be able to enhance your decision-making skills as well. Things where you can develop this skill involve evaluating different business scenarios and choosing the most viable choice among the options.

Career Preparation

For ABM and Entrepreneurship students aspiring to pursue entrepreneurship, finance, or management related courses in the future, creating a business plan will be of great foundation because its parts will provide every student a glimpse into their future careers. With this, they will be prepared for real-world business challenges.

Now that we had a glimpse of what a business plan is all about including its importance, we can proceed to knowing its parts.

The Parts of a Business Plan

A business plan may have different parts and styles across organizations and the like. Listed below is one of the formats you may use.

Preliminaries

This portion of the business plan will usually talk about the official name of the business you are planning, the business logo, and the physical address where the business is to be located.

Details such as the description of what your business does or the products or services it offers, and the information about the founders or owners of the business, including their experience and qualifications, should be found in this section.

Here's the template:

Table of Contents
Business Name, Logo, and Address
Nature of the business
Background of the Proponents

Chapter 1

The Chapter 1 of your business plan should talk about the brief overview of your business, including a summarized version of your mission and vision, the products or services you offer, as well as the financial projections.