how to make a business plan for school project

School Business Plan Template

Written by Dave Lavinsky

School Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their schools.

If you’re unfamiliar with creating a school business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a school business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a School Business Plan?

A business plan provides a snapshot of your school as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a School

If you’re looking to start a school or grow your existing school, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your school to improve your chances of success. Your school business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Schools

With regards to funding, the main sources of funding for schools are donations and gifts, tuition, personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for schools.

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How to write a business plan for a school.

If you want to start a school or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your school business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of school you are running and the status. For example, are you a startup, do you have a school that you would like to grow, or are you operating a chain of schools?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the school industry.
• Discuss the type of school you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of school you are operating.

For example, you might specialize in one of the following types of schools:

• Private K-12 school : this type of school typically charges tuition, and may be affiliated with a religious organization, or specialize in a particular learning method.
• Charter school: this type of school offers primary or secondary education for a tuition, and may receive some public funding, and/or donations. These schools require their students to take state-mandated exams.
• Special subject school: this type of school specializes in teaching a specific subject, such as driving, first-aid, self-defense, fine arts, language, or general tutoring.
• Preschool: this type of school typically serves children who are aged 3 and 4. These schools prepare young children to enter formal education, and are funded by some combination of tuition, donations, and government grants.

In addition to explaining the type of school you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of students served, the number of students accepted into elite formal education institutions, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the school industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the school industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your school business plan:

• How big is the school industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your school? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your school business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: families with elementary-aged children, families with high-school-aged children, families with preschool children.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of school you operate. Clearly, families with high schoolers would respond to different marketing promotions than families with preschoolers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other schools.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes public schools, virtual schools, and families who do homeschooling. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of students do they serve?
• What type of school are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide specialized instruction, either in subject or in method?
• Will you offer courses or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a school business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of school that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide religious-focused K-8 education, college preparatory courses, or single-subject instruction like driving or fine arts?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the courses and/or extracurricular activities you offer and their prices.

Place : Place refers to the site of your school. Document where your company is situated and mention how the site will impact your success. For example, is your school located in a growing neighborhood, in the city center, or will you operate purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your school marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your school, including answering calls, planning and delivering instruction, applying for grants, fundraising, performing administrative tasks, overseeing instructors, handling discipline, scheduling and monitoring extracurricular activities, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to enroll your Xth student, or when you hope to reach $X in revenue. It could also be when you expect to expand your school to a new city.  

Management Team

To demonstrate your school’s potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing schools. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in running a school or experience with public school administration or who has served on a public school board.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you enroll 100 or 1,000 students per semester, and/or offer extracurricular activities? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your school, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a school:

• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your school location lease or a list of elective courses or extracurricular activities you will offer.  

Writing a business plan for your school is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the school industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful school.  

School Business Plan FAQs

What is the easiest way to complete my school business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your school business plan.

How Do You Start a School?

Starting a school is easy with these 14 steps:

• Choose the Name for Your School
• Create Your School Business Plan
• Choose the Legal Structure for Your School
• Secure Startup Funding for Your School (If Needed)
• Secure a Location for Your Business
• Register Your School with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your School
• Buy or Lease the Right School Equipment
• Develop Your School Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your School
• Open for Business

Learn more about   how to start your own school .

Don’t you wish there was a faster, easier way to finish your School business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to learn about Growthink’s business plan writing services .

Other Helpful Business Plan Articles & Templates

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• How to Write a Business Plan for Starting a School – 6 Steps

Every kind of business, regardless of its size, needs thorough planning to ensure success in the long run. According to research stated in BPlans.com, some 11,046 companies had excellent business performance due to extensive planning. Another study also found on the same site shows that businesses that do thorough planning grow 30% faster than others that don’t. As you can see, planning is indeed an essential element in running a business.

Download this Free How to Write a Business Plan for Starting a School - 6 Steps Article in PDF

Start with the executive summary, state your vision and goals, integrate your market analysis, talk about your school’s possible locations, elaborate on your financial strategies, explain your action plan in detail, more in school, business plan layout template, business plan startup template, printable business plan template, simple business plan template, blank business plan template, business plan financial template, restaurant business plan template, marketing business plan template, executive summary template, business plan guidelines template.

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School Business Plan Template

Written by Dave Lavinsky

School Business Plan

You’ve come to the right place to create your school business plan.

We have helped over 5,000 entrepreneurs and business owners create business plans and many have used them to start or grow their schools.

Sample Private School Business Plan

Below is a school business plan template to help you create each section of your own education business plan.

Executive Summary

Business overview.

Southside Academy, located in St. Paul, Minnesota, is a private school that has been providing quality education to the community’s school children since 2017. Southside Academy teaches elementary, middle school, and high school students in a wide range of subjects including mathematics, science, and history. We aim to provide a welcoming and inviting environment where every student can reach their highest potential.

We promote academic, artistic, and athletic excellence in a close-knit learning environment, with a challenging curriculum that cultivates intellectual curiosity. Furthermore, we offer a low teacher-to-child ratio, where teachers can build close connections with their students as they help them excel. We develop confident, continual learners by establishing behavioral supports and the social culture needed for students to achieve social, emotional, and academic success.

Service Offering

Southside Academy offers a premium private education at an affordable tuition fee. We provide a challenging education where students can explore their true potential and a safe space where they can freely discover and express themselves. Our students range from 1st grade to 12th grade and we teach a wide variety of subjects including:

• Basic Mathematics
• Physical Education

Customer Focus

Southside Academy primarily serves families within a 5-mile radius of the school’s location. The area is home to thousands of middle and upper-class families looking for high-quality education for their children. Before the school was built, the area was underserved and many children had to travel far to attend quality private schools.

Management Team

Southside Academy’s founder is Mike Brown who has been working as a teacher for more than 20 years. Mike has taught at several public schools in the region but saw a great demand for private education. He noticed that the current location of the school was underserved and set out to create a school to serve this population. Mike Brown has successfully led Southside Academy as its principal since the school’s inception and will continue to do so for the foreseeable future.

Mike Brown is supported by a team that has experience teaching students, managing finances, and running businesses. Specifically, our team has solid experience in being effective teachers, connecting to different types of students, and achieving key goals.

Success Factors

Southside Academy is able to achieve success by offering the following competitive advantages:

• Location: Southside Academy’s location is near the center of town, giving members of our community easy access for parents and their children.
• Passionate and Skillful Teachers: Southside Academy hires teachers with strong academic backgrounds who are skillful in handling all types of children.
• Low teacher-to-student ratio: We provide a low teacher-to-student ratio so that every student gets personal attention from teachers to reach their highest potential.
• Affordable, quality education: Most of the schools in the area offer their services at a very expensive price. Our fees will be moderately low so that good education is accessible to all families.

Financial Highlights

Southside Academy is currently seeking additional donations of $600,000 in order to fulfill our mission. The breakdown of the funding may be seen below:

• Salaries: $200,000
• School Materials (books, toys, desks, chairs, etc): $180,000
• Administrative Expenses: $120,000 to pay for lease costs, ongoing operational expenses, and marketing.
• Working capital: $100,000

The following graph below outlines the pro forma financial projections for Southside Academy.

Company Overview

Who is southside academy, southside academy’s history.

Southside Academy started as an idea from a group of school teachers, including Mike Brown. The teachers were university pals who are passionate about teaching and children. They have seen the gaps in education in St. Paul, Minnesota, and wanted to create a school that elevates the academic environment for the children of this area.

Their plans to build a school started in 2015, but it was only until April 2016 that they finally completed all the paperwork and met the legal requirements. Since then, Southside Academy has achieved the following milestones:

• Found a location and built the school
• Developed the school’s name, logo, and website
• Determined curriculum
• Hired teachers and other key employees

Southside Academy’s Services

Industry analysis.

Education is an essential foundation for a thriving society. It’s more important than ever before that every child has access to affordable, high-quality education. While public schools are an essential option for many low-income families, the education provided by private schools often results in higher test scores and more students moving on to top-tier universities.

The private school industry has experienced steady growth in the past five years. The key industry drivers are economic growth, the rise in numbers of K-12 students, an increase in the number of families with both parents working, and government initiatives to support education.

According to Polaris Market Research, this growth is expected to continue with a forecasted compound annual growth rate of 6.6% from now until 2030. This shows that Southside Academy has great potential to keep growing and expanding. We will have ample opportunities to grow our curriculum and offer services to students that help them reach their highest potential.

Customer Analysis

Demographic profile of target market.

Southside Academy serves the families and children of St. Paul, Minnesota. The area is mostly populated by young couples and new families that have disposable income and can pay a premium for their children’s education.

The precise demographics of the town in which our location resides are as follows:

Customer Segmentation

We primarily target the following three customer segments:

• Young children
• Young couples

Competitive Analysis

Direct and indirect competitors.

Southside Academy faces competition from other schools with similar profiles. A description of each competitor company is below.  

Waters Independent School

Founded in 1968, Waters Independent School is a non-profit and tax-exempt independent school system. The school is governed by an independent Board of Trustees and offers preschool through eighth-grade programs. WIS is accredited by the state’s Council of Independent Schools (FCIS).

Waters Independent School has small class sizes with low student-to-teacher ratios. Further, WIS’ Programs include a strong academic foundation coupled with programs in the arts, physical education, media/technology, foreign language, and extracurricular areas.  

Hill Preparatory School

Founded in 1923, Hill Preparatory School is a private, non-sectarian, coeducational, college preparatory day school. It offers PK-12 programs in a safe, student-centered environment. HPS supports its students through the challenges of the school year with one-on-one attention from dedicated faculty, robust services like The Learning Center and the College Center, and the most advanced educational technology. The campus spans 28 acres and has a new 60,000+ square foot facility.  

Future Leaders Preparatory School

Founded in 1968, Future Leaders Prep is a private school for PreK3-8th grade. FLPS offers preschool, elementary school, and middle school programs and offers the International Baccalaureate program of study for all students. Teachers are endorsed in gifted education through a master’s level grant with [local University]’s College of Education Gifted Program. In addition to the school, Future Leaders offers community programs such as music, dance, art, and theater lessons through the Community School of the Arts, youth sports in the Community School for Sports, and the 7-week summer camp.

Competitive Advantage

There are many schools in St. Paul, Minnesota but none of them provides the same quality of education that Southside Academy provides, specifically the following:

Marketing Plan

Brand & value proposition.

The Southside Academy brand will focus on the school’s unique value proposition:

• Providing premium education at an affordable price
• Providing a supportive and challenging place for children to learn
• Giving parents the assurance that their children will reach their full potential

Promotions Strategy

The promotions strategy for Southside Academy is as follows:

Social Media

Southside Academy will invest heavily in a social media advertising campaign. The school will utilize social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Publications

The school will place print advertisements in key local publications, including newspapers, area magazines, and business newsletters. Additionally, Southside Academy will print brochures and place them in specific locations frequented by target individuals.

Website/SEO

Southside Academy will invest heavily in developing a professional website that displays all of the features and benefits of Southside Academy. It will also invest heavily in SEO so that the school’s website will appear at the top of search engine results.

Direct Mail

Southside Academy will blanket neighborhoods with direct mail pieces. These pieces will provide general information on Southside Academy and incentives to enroll.

Southside Academy prices its tuition at a moderate price so our students and their families feel they are getting great value when choosing our school.

Operations Plan

The following will be the operations plan for Southside Academy.

Operation Functions:

• Mike Brown is the school Principal. He manages the teachers, directs the direction of education, and serves as the head of the school.
• Mike is joined by Amanda Johnson who acts as the Administrative Assistant for the school. She helps Mike with the operations of the school as well as the marketing and administrative functions.
• Mike has hired an extensive team of highly qualified educators. Together, they teach dozens of subjects, including biology, chemistry, social studies, and mathematics. Every teacher that works for Southside Academy is passionate about education and pushing their students to reach their highest potential.

Milestones:

Southside Academy expects to achieve the following milestones in the following six months:

• 3/202X Kickoff of promotional campaign to attract new students
• 4/202X Start donation campaign
• 5/202X Hire new teachers for the upcoming year
• 6/202X Achieve donation/funding goal
• 7/202X Finalize list of incoming students for next year
• 8/202X Start next school year

Financial Plan

Key revenue & costs.

Southside Academy’s revenues come from student tuition fees and donations from both individuals and corporations.

The major costs for the company will be staffing, marketing expenses, location maintenance, equipment, and materials.

Funding Requirements and Use of Funds

Southside Academy is currently seeking additional fundraising and capital of $600,000 in order to fulfill our mission. The breakdown of the funding may be seen below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and to pay off the startup business loan.

• Year 1: 200
• Year 2: 300
• Year 3: 400
• Year 4: 500
• Year 5: 600
• Tuition rate per year: $10,000

Financial Statements

Income statement, balance sheet, cash flow statement, school business plan faqs, what is a school business plan.

A school business plan is a plan to start and/or grow your school business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your School business plan using our School Business Plan Template here .

What are the Main Types of School Businesses?

There are a number of different kinds of school businesses, some examples include: private K-12 school, charter school, virtual schools, independent schools, primary school, secondary education, or preschool.

How Do You Get Funding for Your School Business Plan?

School businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a School Business?

Starting a school business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A School Business Plan - The first step in starting a business is to create a detailed school business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your school business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your school business is in compliance with local laws.

3, Register Your School Business - Once you have chosen a legal structure, the next step is to register your school business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your school business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary School Equipment & Supplies - In order to start your school business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your school business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful school business:

• How to Start a School

Other Helpful Business Plan Templates

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• New Hamphshire
• Add Your School
• Start a Private School
• Free Resources
• Articles & Resources

Business Plan & Budget

Documenting your vision.

A business plan is an essential part of the planning process, helping identify goals and metrics and your plan to achieve them.

• Starting with your objectives
• Business plan vs. a budget
• Business plan types
• Creating your business plan
• Creating your budget

Planning for Your New School

Your business plan and budget are important tools for two reasons:

First, before you invest your time, energy and money in opening a school, it is important that you have a plan for yourself that you can believe in. Opening any business is hard work and carries risk - schools are no exception! Having a plan can allow you to move forward with confidence.

Second, your plan can be helpful to help others understand how you expect to turn you vision from dream to reality. From recruiting staff to recruiting financial backing, a solid plan allows you to build confidence in others, too.

In this section we look at the fundamentals for school business plans and budgets, and how these are derived from your vision and objectives.

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Websites & Admissions

Starting with your objectives.

As Lewis Carroll so playfully points out: you need to first know where you want to go, and then you can build a plan to get there.

If you’ve not already started with the work outlined in the school identity section of this guide, now is a great time to review the topics on core values and mission. Once your core values and mission are clear, you can begin to set objectives by examining questions such as:

Who are the students and families you want to serve? There are any number of ways you might think about this: are you intending to provide services for an underserved population or a group with particular needs that aren’t being met in your community? Are you wanting to bring together families with a common interest or ideology, whether that is an academic focus, religious conviction, academic philosophy, or opportunity for particular experiences?

What is the ideal size for your program? Even knowing you won’t get there right away, do you ultimately want to remain a small community of 18 or 24, or does your objective require a population of 300 or 500 or 1000 students to support the diversity of programming, staff expertise and varies programs you’d like to offer?

What role do you want to create for yourself? This can be a particularly tricky question, but it is crucial to step back and consider as part of your plan. If your first love is working in the classroom, you should have a plan that allows you classroom time. That may mean splitting time between administrative tasks and a small class workload, or it could mean having a large enough enrollment to bring in a full-time administrator. If you are excited by strategy and operations, and enjoy building a team, recruiting parents, and overseeing the day-to-day running of the school, keep yourself in an administrative role. There are dozens of roles you might choose to play: why not use this opportunity to ensure you put yourself in your dream job?

Once you’ve worked through your objectives (and written them down!) you’re ready to move on and begin planning.

Business Plan vs. Budget

A common misconception is that a well-defined and detailed budget is essentially the same as a business plan. While a solid budget is an important component of a business plan, a true business plan looks beyond just the projected income and expenses to answer questions about both strategy and tactics. 

The Role of a Business Plan

Business plans can seem daunting if you’ve never had to write one before. It is a must-have document, though, as it serves as a road map for your new school. Although there are many things that are going to be a part of the business plan, it is there to explain what you hope to accomplish with your school and how you are going to accomplish it. Additionally, business plans serve as important documentation for financial institutions or investors to see whether your school is worth investing in.

The Role of a Budget

Budgets, on the other hand, are primarily internal documents you’ll use to track your income and expenses and determine where your spending should take place. If you need new textbooks or want to give someone a raise, your budget will guide you through your decisions and help you determine if you have the money to do so, or what you need to accomplish to make it happen.

Business Plan Types

Creating a business plan can take time, but the good thing is that they tend to follow a consistent format – so you can basically work from a template to create yours. There are two common approaches used today:

Traditional "Full" Business Plan

A traditional, full business plan tends to be comprehensive and detailed. Creation of a full business plan can be time consuming but going through the process will help identify areas of planning that you may not have considered, and the resulting plan should provide sufficient details to be used when talking with banks or investors. For full business plans, the US Small Business Administration has a great  step-by-step guide  that walks you through each section of your business plan, along with some examples to look at.

Start-Up "Lean" Business Plan

An alternate approach is the lean start-up plan, which is faster to write and focuses more on high-level plans and a few key elements. Lean plans can be a good place to start, with the assumption you will update and revise the plan frequently.  Particularly if soliciting funding, you may require additional time and detail later. Tim Berry, one of the leading experts on lean business plans, provides a good overview in his  What's a Lean Business Plan  article.

Creating Your Business Plan

There are lots of options for online business plan templates and most share a lot of common characteristics. There’s nothing wrong with picking one based on personal taste. Any of the following are excellent options as a starting point:

growthink (non-profit business plans)

Rocket Lawyer

My Own Business Institute

InvoiceBerry

US Small Business Administration

That there are many internet-based companies that offer business plan writing or editing, specifically. Here are just a few that you might want to check out:

Cayenne Consulting

Go Business Plans

Wise Business Plans

Many of the same companies that provide the business plan templates we highlighted are business consultants, not just business plan writers. Consultants can help you in your overall plans, particularly in areas where you may need guidance.

Professional organizations and associations for private schools, as well as your local chamber of commerce are also great resources for finding business consultants to assist you in creating your business plan and beyond.

Creating Your Budget

Understanding your costs.

The costs you’ll incur as a new school are really dependent on the choices you make in facilities and staffing. You’ll find a lot of useful information in those sections of this guide and they will help you get a clearer picture of the various expenses you’re going to face as you open up your school.

One of the great things about a budget is that, as long as you can easily read and understand it, the format isn’t going to make or break you. That said, staying organized and keeping track of everything takes a good system. One of the most popular methods is using a spreadsheet or system of spreadsheets to plan your income and expenses. Smartsheet has an excellent business budget template that you can modify to meet the needs of your school.

Once you are up and running, insight into actual income and expenses can be generated by your accounting software. Some accounting packages include budgeting tools as well, easing the work of comparing your plan to your actual numbers.

Tools to Assist With Budget Creation

Several excellent resources exist that can help you develop a budget, including:

The American Association of School Administrators has put together a  School Budgets 101  document that outlines common expenses and budgetary considerations for schools

The Guardian published  A beginner's guide to planning and managing school budgets in 2016, which explains several important budgeting principals.

Helping Educators Do the Work That Matters

Guide Quick-Nav

Introduction

We’ve developed these 10 topics to help you along the way. Take them all in at once, or start with the areas most relevant right now.

School Identity

There’s plenty you can do to develop your own brand, starting right from your personal ideals and goals for your school.

Our curriculum pages include ideas on where to go to find materials, and different associations and educational models you may want to consider.

Legal & Operating Requirements

You need to know the requirements at both the federal level and for your state. Here are the basic details for every state.

Funding & Finance

Here we share ideas for possible funding sources, and ways you might be able to start with less than you thought necessary.

Having a plan for how you’ll operate and a budget to predict and allocate funds is critical for all businesses, schools included. We’ve pulled together resources here to help with both.

What facilities are right for your school? We encourage new schools to get creative, and have compiled some considerations to take into account.

How can you find and recruit the right talent for your school? What qualifications or certifications are required?

Policies & Procedures

Thinking about more than just a student handbook and conduct code, we've included recommendations & templates to help you develop your school policies & procedures

Marketing & Online Presence

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How to Create a Successful Project (for School)

Last Updated: November 28, 2023 Fact Checked

This article was co-authored by Kim Gillingham, MA . Kim Gillingham is a retired library and information specialist with over 30 years of experience. She has a Master's in Library Science from Kutztown University in Pennsylvania, and she managed the audiovisual department of the district library center in Montgomery County, Pennsylvania, for 12 years. She continues to do volunteer work for various libraries and lending library projects in her local community. There are 8 references cited in this article, which can be found at the bottom of the page. This article has been fact-checked, ensuring the accuracy of any cited facts and confirming the authority of its sources. This article has been viewed 552,726 times.

School projects can come in a variety of forms, and the exact process you'll need to create a successful one will vary from project to project, subject to subject, and class to class. However, some general steps and best practices can help you tackle any project on your plate more successfully. You'll need to pick a topic and plan out your project. Next, you'll need to do some research. Finally, you'll need to put everything together in your final project.

Deciding on a Project

• For instance, maybe your assignment is "Create a visual representation of the US Civil War. You can pick one battle, one idea, one speech, a defining moment, or focus on the war as a whole. Make sure to include relevant dates and people in your representation."
• You can break this down into parts: 1) Make something visual about the Civil War. 2) Choose a focus. 3) Include relevant dates. 4) Include relevant people.

• Try freewriting. Take out a sheet of paper. On the top, write down something such as "US Civil War Project." Start writing about the project. Don't stop yourself or censor ideas. Just let them come as they will. For instance, maybe you could start out by writing "For me, one of the defining points of the Civil War was the Gettysburg Address. It really made clear that the fight was about human equality. But now I must make that visual. Four-score and seven years ago... I could take individual lines, maybe? Connect ideas to defining parts of the war..." [3] X Trustworthy Source University of North Carolina Writing Center UNC's on-campus and online instructional service that provides assistance to students, faculty, and others during the writing process Go to source
• Try a map. Start with a circle in the middle of the paper with "US Civil War Project" written in the middle of it. Draw a line from the center circle to another circle, and add a fact or idea. Just keep associating ideas together, not really thinking too deeply about it. As you go, group like ideas near each other. When you're done, look at where the largest groupings are, and let that guide your focus. [4] X Trustworthy Source University of North Carolina Writing Center UNC's on-campus and online instructional service that provides assistance to students, faculty, and others during the writing process Go to source

• The best way to pick a topic is to choose what you focused on in your brainstorming. For instance, maybe you think the Gettysburg Address is a good focal point.
• However, if your topic is still too broad, such as "battles in the Civil War," try picking one aspect within that topic. You could choose one battle you think is defining, or a particular aspect of the battles, such as battle fatigue in soldiers.
• Most public and university libraries have databases providing access to scholarly articles. You can always ask the librarian to help you find what you're looking for

• You can even think about doing something 3-dimensional instead of 2-dimensional. Maybe you could make a 3-D map of the battles, depicting the movement of troops.
• Alternatively, you could try sculpting out of papier-mâché. Maybe you could sculpt Abraham Lincoln and use scripts coming off his body to tell your story.

Planning Out Your Project

• To make an outline, start with the main topic you are covering. Maybe you're doing the Gettysburg Address. Write that at the top.
• Next, break down your project into sub-headings. Maybe your subheadings could be "Speech Background," "Location of Speech," and "Impact of Speech."
• Under your subheadings, jot down the basic ideas of what you'll need. For instance, under "Speech Background," you might need the date, what battle preceded the speech, and the reason Lincoln gave the speech.

• Assign time for each chunk, including deadlines. Work from the final deadline backward. For instance, if you have 4 weeks to complete your project, say you'll spend the last week painting and putting the project together. The week before that, write out the text for your project. The week before that, research your project. In the first week, make your plan, and get your materials together.
• If needed, divide your project further. For instance, "researching the speech" may need to be divided into several days' worth of work.

Researching Your Projects

• When using an article database, narrow the search engine to only relevant databases. For instance, platforms such as EBSCOhost carry a wide range of smaller databases, and you can narrow your search down to one relevant to your topic, such as a database focused on history.
• You can also research the archives of particular newspapers. While some newspapers offer free access to their archives, others might require you to pay.

• You'll need the author's full name, the title of the book, the publisher, the edition, the date it was published, the city it was published in, the title and author of individual articles in the book if it has them, and the page number where you found the information.
• For articles, you'll need the author's full name, the title of the article and the journal, the volume and issue (if it has them), the page numbers of the article, the page number you found it, and the digital online identifier number (doi), which is usually on the description page in the catalog. [10] X Trustworthy Source Purdue Online Writing Lab Trusted resource for writing and citation guidelines Go to source

Creating Your Project

• Your teacher should tell you how should cite your sources or what guidelines you should be using.
• If you don't know how to write according to those guidelines, try an online resource such as Purdue's Online Writing Lab. It covers the basics of the major citation styles. [12] X Research source

• Before you turn it in, make sure you covered everything your teacher asked you to.
• If you skipped something, see if you can add it in, even if it's last minute.

Community Q&A

• Ensure you build in extra time for each step. You may run into problems or parts may take longer than you think. Thanks Helpful 0 Not Helpful 0

Tips from our Readers

• Write down a lot of ideas for your project, that way if someone else has an idea similar to yours you can still do something else.
• Plan in advance and be enthusiastic about it! Your enthusiasm will rub off onto your work and make it that much better.
• Ask your teacher if you can look at projects from previous years to get an idea of what they're looking for.

You Might Also Like

• ↑ https://www.ed.ac.uk/education/professional-learning/resources/educational-resources
• ↑ http://writingcenter.unc.edu/handouts/brainstorming/
• ↑ https://libguides.umflint.edu/science/topics
• ↑ https://theartofeducation.edu/2016/06/21/12-key-steps-leading-amazing-mural-projects/
• ↑ https://owl.purdue.edu/owl/research_and_citation/resources.html
• ↑ https://www.library.cornell.edu/research/introduction
• ↑ https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/reference_list_electronic_sources.html
• ↑ https://owl.english.purdue.edu/owl/

About This Article

To create a successful project for school, start by reading the assignment to make sure you understand the requirements. Then, break up the assignment into manageable chunks, like research, writing, and proofreading, so you can schedule yourself enough time to get everything done. Choose a good topic by brainstorming a lot of broad ideas, like gender or fashion, and then narrow it down to something more specific, like women's fashion during the Victorian period, so you can start your research and design your project. To learn how to research your project, keep reading! Did this summary help you? Yes No

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How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated April 17, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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Teach by example

LivePlan's examples of actual business plans show students how they can identify opportunities, meet challenges, and plan their path to profits. Just like real-world entrepreneurs.

No spreadsheets necessary

With all–in–one spreadsheet–free forecasting and pitching tools–students can use LivePlan to build a realistic business plan with accurate projections and compelling pitches. Analyze scenarios. Track progress. Set goals. All in LivePlan.

Works seamlessly with your classroom setup

With LivePlan you can simplify syllabus creation. LivePlan can also be used alongside classroom tools such as Blackboard and Canvas. LivePlan's optional instructional resources can enhance your syllabus with materials that introduce lean planning principles, growth metrics, financial forecasting, and more.

Instructors looking for a great tool to help students develop business plans need to look at Live Plan. The step–by–step process walks students through the entire process from Pitch to Financials. As the Instructor you can also have online access to their plan and provide feedback and comments as the plan develops.

Mike Allen Business Instructor, North Idaho College, Coeur d'Alene, ID

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Create a plan that fits their needs

Whether small or big, LivePlan can build out the right–sized business plan for your classroom projects. In LivePlan, students can develop a simple lean plan that focuses their ideas, or create a full business plan with all the details and steps necessary to persuade investors, attract partners, and turn their idea into a profitable reality.

With so much happening in the classroom, you need a tool that works with you, not one that makes you do extra work. Used by educators, consultants, entrepreneurs, and students all around the world, LivePlan has been regularly improved and streamlined so it's easy to use.

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• Guide them from concept to actionable plan
• Build the confidence necessary to be entrepreneurs
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Amy Valente Assistant Professor of Business, Cayuga Community College, Auburn, New York

LivePlan helped us easily set up the business plan for our startup during our MBA. As soon as the other students saw it, they also wanted LivePlan. The time we saved on planning we could use for operational tasks. It was the ideal solution for us.

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40+ Fun And Profitable Unique Business Ideas For School Project

Are you a student looking for a unique and engaging school project idea that goes beyond traditional assignments? Exploring innovative business ideas within the field of school projects opens doors to creativity and practical learning. It is an avenue where students merge education with entrepreneurship, encouraging skills and knowledge beyond the classroom. A school project business idea involves conceptualizing, planning, and executing a business venture within the school’s framework, allowing students to gain hands-on experience.

In our blog, we will provide the significance of these ventures, highlighting the advantages considerations when selecting ideas, and presenting a comprehensive list of 40+ unique and profitable business ideas tailored for school projects. We’ll guide you through the steps of idea development, offer success tips, address implementation challenges, and provide strategies to overcome them. 

Stay tuned with us to explore the world of unique business ideas for school project.

What Is A School Project Business Idea?

Table of Contents

A school project business idea is like a special plan students create for their school work that’s all about starting a small business. It’s a way for students to bring their ideas to life, by thinking, planning, and doing something like running a business, but within the school. These projects can be about selling products, offering services, or even organizing events. They’re a chance for students to learn by doing, applying what they’ve learned in class to a real-life situation.

These projects are not just about making money; they’re about learning. Students figure out how a business works, how to manage money, how to talk to customers, and how to solve problems. It’s a fun way for students to be creative and develop skills that can help them in the future, teaching them about responsibility and teamwork along the way.

Benefits Of Starting A Unique Business Ideas For School Project

Here are some benefits of starting a unique business ideas for school project:

1. Hands-on Learning

Starting a unique business idea for a school project provides practical learning experiences. It’s like doing things instead of just reading about them, offering a real taste of how business works, teaching students more than just facts.

2. Skill Development

It’s like a playground for skills. Students learn how to talk to people, work in a team, handle money, and solve problems. These skills aren’t just for the project; they’re important skills for life.

3. Applying Classroom Knowledge

Things learned in class become real in these projects. For example, if they’re studying math, they can use it to manage their project’s money or understand profit and loss.

4. Understanding Business Concepts

Students get a peek into how businesses run. They learn about making products or providing services, advertising, and dealing with customers, which helps them see how real businesses operate.

5. Boosting Confidence

By doing a project and seeing it succeed, students feel confident about their abilities. It’s like a high-five for their hard work, helping them believe in themselves and their skills.

Factors To Consider When Choosing A School Project Business Idea

Here are some factors to consider when choosing a school project business idea:

1. Interest and Passion

Choosing a project idea that students are excited about and love doing is really important. When they’re passionate, it feels less like work and more like fun. It helps them stay motivated and committed to the project.

2. Resources Available

Students need to think about what they have access to—like materials, time, and support. It’s about being realistic and choosing an idea that fits what’s available. For example, if they have limited funds, choosing a costly project might not be the best idea.

3. Target Audience

Knowing who the project is for is vital. Students need to think about who will be interested in what they’re offering. Comprehending the requirements and inclinations of their target audience aids in customizing their project for enhanced success.

4. Feasibility and Scalability

The project idea should be doable within the given time and resources. It’s good to start small, but also to think if the idea could grow bigger if things go well. Starting small helps understand how to expand.

5. Educational Value

The project should not just be about making money; it should teach something. Students need to consider what they can learn from the project and how it aligns with their educational goals.

40+ Fun & Profitable Unique Business Ideas For School Project

In this section we provide 40+ fun and profitable unique business ideas for school project:

1. Pet Sitting Services

Pet sitting services provide a convenient solution for pet owner who need someone to care for their furry friends while they are away. This project requires minimal investment in advertising, basic pet care supplies, and transportation. 

Finance Required

Skills required.

• Basic knowledge of pet care
• Responsible and reliable nature
• Good communication skills

2. Customized T-Shirt Printing

Customized t-shirt printing allows individuals to express their creativity by designing and printing unique t-shirts. This project requires a t-shirt printing machine, blank t-shirts, and various printing supplies.

• Graphic design skills
• Knowledge of t-shirt printing techniques
• Marketing and customer service skills

3. Organic Gardening and Produce Sales

Organic gardening involves growing fruits and vegetables without the use of synthetic pesticides and fertilizers. Students can sell the organic produce they grow at local farmers’ markets or through a subscription-based service. This project requires gardening tools, seeds, and marketing materials. 

Low to Moderate

• Gardening and horticulture knowledge
• Marketing and sales skills
• Understanding of organic farming practices

4. Event Planning Services

Event planning services involve organizing and coordinating various events, such as birthday celebrations,corporate gatherings and weddings. Students can offer their services by creating customized event packages and coordinating with vendors. This project requires excellent organizational skills and the ability to manage budgets effectively.

Low to Moderate 

• Strong organizational and time-management skills
• Excellent communication and negotiation skills
• Attention to detail

5. Handmade Jewelry Design and Sales

Handmade jewelry design and sales involve creating unique and artistic jewelry pieces using various materials, such as beads, gemstones, and metals. Students can sell their creations online, at local craft fairs, or through consignment in retail stores. This project requires jewelry-making tools, materials, and marketing materials. 

• Creativity and design skills
• Basic knowledge of jewelry-making techniques

6. Mobile App Development

Mobile app development involves creating applications for smartphones and tablets. Students can develop apps for various purposes, such as gaming, productivity, or education. This project requires programming skills, access to a computer or laptop, and software development tools. 

Low to High (depending on app complexity) 

• Programming skills (such as Java, Swift, or HTML)
• Problem-solving and analytical thinking
• User interface design knowledge

7. Eco-friendly Cleaning Products

Eco-friendly cleaning products are becoming increasingly popular as people seek environmentally friendly alternatives to traditional cleaning supplies. Students can create and sell their own line of eco-friendly cleaning products, such as all-purpose cleaners, laundry detergents, and dish soaps. This project requires research on eco-friendly ingredients, packaging materials, and marketing efforts. 

• Knowledge of eco-friendly ingredients and their benefits
• Basic understanding of chemistry

8. Language Tutoring Services

Language tutoring services involve teaching others to speak and understand different languages. Students can offer one-on-one tutoring sessions or group lessons either in person or online. This project requires proficiency in the chosen language, teaching materials, and marketing efforts. 

• Fluency in the chosen language
• Teaching and communication skills
• Patience and adaptability

9. Local Tour Guide Services

Local tour guide services involve providing guided tours and showcasing the attractions and landmarks in a particular area. Students can create customized tour packages and offer their services to tourists or locals. This project requires in-depth knowledge of the local area, good communication skills, and marketing efforts. 

• Extensive knowledge of the local area
• Excellent communication and storytelling skills
• Ability to manage and coordinate tours

10. Upcycled Furniture Design and Sales

Upcycled furniture design and sales involve transforming old and discarded furniture into unique and stylish pieces. Students can acquire old furniture, refurbish and redesign them, and sell them to customers looking for sustainable and affordable home decor options. This project requires furniture restoration tools, materials, and marketing efforts. 

• Basic knowledge of furniture restoration techniques

11. Personalized Gift Creation

Personalized gift creation involves designing and creating customized gifts for various occasions, such as birthday parties, weddings, and anniversaries. Students can offer personalized items, such as engraved jewelry, custom-made photo albums, or monogrammed accessories. This project requires crafting materials, design software, and marketing efforts. 

12. Vintage Clothing Resale

Vintage clothing resale involves sourcing and selling vintage and retro clothing items. Students can curate a collection of unique and fashionable vintage pieces and sell them online or through pop-up shops. This project requires sourcing vintage clothing, marketing efforts, and packaging materials. 

• Knowledge of vintage fashion trends
• Basic understanding of clothing sizing and alterations

13. Personal Fitness Training

Personal fitness training involves providing customized fitness plans and guidance to individuals looking to achieve their health and fitness goals. Students can offer one-on-one training sessions or group fitness classes. This project requires fitness certifications, fitness equipment, and marketing efforts. 

• Knowledge of exercise techniques and fitness principles
• Motivational and coaching skills

14. Virtual Assistance Services

Virtual assistance services involve providing administrative and organizational support to individuals or businesses remotely. Students can offer services such as email management, scheduling, social media management, and data entry. This project requires a computer or laptop, internet access, and marketing efforts. 

• Excellent communication and computer skills

15. Homemade Soap and Bath Product Creation

Homemade soap and bath product creation involves making natural and luxurious soaps, bath bombs, and body scrubs. Students can create their own unique formulations and sell these products online or at local markets. This project requires soap-making ingredients, molds, and packaging materials. 

• Knowledge of soap-making techniques and ingredients

16. Online Reselling

Online reselling involves sourcing and selling second-hand or discounted items through online platforms. Students can find items at thrift stores, garage sales, or clearance sales, and resell them at a higher price. This project requires an online selling platform account, packaging materials, and marketing efforts. 

• Knowledge of market trends and popular items
• Basic understanding of online selling platforms

18. Photography Services

Photography services involve capturing moments and creating memorable images for various occasions, such as weddings, birthdays, or family portraits. Students can offer their photography skills for hire and provide digital or printed copies of the photographs. This project requires a camera, photography accessories, and marketing efforts.

• Knowledge of photography techniques and equipment
• Creativity and an eye for composition

19. Outdoor Adventure Guide Services

Outdoor adventure guide services involve leading and organizing outdoor activities, such as hiking, tracking, or camping trips. Students can create adventure packages and offer their services to adventure enthusiasts. This project requires knowledge of outdoor activities, safety equipment, and marketing efforts.

  Low to Moderate 

• Extensive knowledge of outdoor activities and safety protocols
• Excellent communication and leadership skills
• Ability to manage and coordinate group activities

20. Social Media Management

Social media management involves managing and maintaining social media accounts for individuals or businesses. Students can offer services such as content creation, posting schedules, and interaction with followers. This project requires knowledge of social media platforms, content creation tools, and marketing efforts. 

• Knowledge of various social media platforms
• Excellent communication and writing skills
• Basic understanding of content creation and marketing

21. Handmade Candle Making

Handmade candle making involves creating unique and scented candles using various waxes, fragrances, and molds. Students can sell their handmade candles online, at local markets, or through consignment in retail stores. This project requires candle-making supplies, fragrance oils, and marketing efforts. 

• Knowledge of candle-making techniques and materials

22. Computer Repair Services

Computer repair services involve diagnosing and fixing hardware or software issues on computers and laptops. Students can offer troubleshooting and repair services to individuals or businesses in need. This project requires knowledge of computer hardware and software, repair tools, and marketing efforts. 

• Knowledge of computer hardware and software troubleshooting

23. Healthy Meal Prep Services

Healthy meal prep services involve preparing and delivering nutritious and ready-to-eat meals to individuals or families. Students can create customized meal plans based on dietary preferences and deliver the meals on a regular basis. This project requires meal prep containers, cooking equipment, and marketing efforts. 

• Culinary skills and ability to prepare nutritious meals
• Time-management and organizational skills

24. Graphic Design Services

Graphic design services involve creating visual content for various purposes, such as logos, brochures, websites, or social media posts. Students can offer their graphic design skills for hire and provide customized designs based on client needs. This project requires graphic design software, a computer or laptop, and marketing efforts. 

• Proficiency with graphic design programs (like Adobe Illustrator or Photoshop)
• Attention to detailed information and ability to understand client requirements

25. Personalized Stationery Design and Sales

Personalized stationery design and sales involve creating and selling customized stationery items, such as notepads, greeting cards, or planners. Students can offer personalized designs based on client preferences and sell them online or at local markets. This project requires stationery materials, printing equipment, and marketing efforts. 

• Knowledge of printing techniques and materials

26. Handmade Home Decor

Handmade home decor involves creating unique and artistic home decoration items, such as wall art, pillows, or ceramics. Students can sell their handmade creations online, at local craft fairs, or through consignment in retail stores. This project requires crafting materials, design tools, and marketing efforts. 

• Basic knowledge of crafting techniques and materials

27. Music Lessons

Music lessons involve teaching individuals to play musical instruments or improve their singing skills. Students can offer one-on-one lessons or group classes either in person or online. This project requires proficiency in the chosen musical instrument or vocal training, teaching materials, and marketing efforts. 

• Proficiency in the chosen musical instrument or vocal training

28. Freelance Writing Services

Freelance writing services involve providing written content for various purposes, such as articles, blog posts, or website copy. Students can offer their writing skills for hire and provide customized content based on client requirements. This project requires good writing skills, research capabilities, and marketing efforts. 

• Excellent writing skills
• Research and information-gathering abilities
• Marketing and client communication skills

29. Eco-friendly Product Retail

Eco-friendly product retail involves sourcing and selling environmentally friendly products, such as reusable water bottles, sustainable clothing, or zero-waste items. Students can create an online store or sell products through pop-up shops. This project requires sourcing eco-friendly products, marketing efforts, and packaging materials. 

• Knowledge of eco-friendly products and their benefits
• Basic understanding of online retail or pop-up shop management

30. Online Fitness Classes

Online fitness classes involve providing workout sessions and fitness guidance through virtual platforms. Students can create customized fitness programs, conduct live or pre-recorded classes, and offer personalized coaching. This project requires fitness certifications, video recording equipment, and marketing efforts. 

• Ability to create engaging and effective workout programs

31. Social Media Influencer

Social media influencing involves building a following on platforms like Instagram, YouTube, or TikTok and partnering with brands for sponsored content or collaborations. Students can create engaging and relevant content to attract followers and monetize their social media presence. This project requires content creation skills, social media management, and marketing efforts. 

• Creativity and content creation skills
• Familiarity with social media platforms and trends
• Marketing and negotiation skills

32. Online Language Courses 

Online language courses involve creating and teaching language courses through virtual platforms. Students can offer courses for various levels and languages, providing study materials, exercises, and personalized feedback. This project requires fluency in the chosen language, teaching materials, and marketing efforts. 

• Ability to create engaging and effective language learning materials

33. Arts and Crafts Workshops

Arts and crafts workshops involve organizing and conducting creative workshops for individuals or groups. Students can teach various art techniques, such as painting, pottery, or jewelry making. This project requires art supplies, workshop space, and marketing efforts. 

Finance Required 

 skills required.

• Proficiency in the chosen art technique
• Ability to create engaging and educational workshop content

34. Online Coaching and Mentoring

Giving advice and assistance to people looking to advance personally or professionally is the goal of online coaching and mentoring. Students can offer coaching services in areas such as career development, life skills, or academic success. This project requires expertise in the chosen coaching area, coaching materials, and marketing efforts. 

• Expertise in the chosen coaching area
• Active listening and communication skills

35. Personalized Home Organization Services

Personalized home organization services involve helping individuals declutter and organize their living spaces. Students can offer organizing services for specific areas, such as closets, kitchens, or home offices. This project requires organizing tools, transportation, and marketing efforts. 

• Attention to detail and ability to create efficient systems

36. Digital Marketing Consultancy

Digital marketing consultancy involves providing expert advice and strategies to businesses looking to enhance their online presence. Students can provide services such as social media marketing, search engine optimization, or content creation. This project requires knowledge of digital marketing strategies, marketing tools, and client communication.

• Knowledge of digital marketing strategies and tools
• Analytical thinking and problem-solving skills

37. Eco-tourism Guide Services

Eco-tourism guide services involve leading and organizing environmentally friendly tours in natural or conservation areas. Students can create eco-tourism packages and educate participants about wildlife, ecosystems, and sustainable practices. This project requires knowledge of eco-tourism principles, safety equipment, and marketing efforts. 

• Extensive knowledge of local ecosystems and wildlife
• Ability to educate and engage participants in sustainable practices

38. Virtual Reality (VR) Experience Creation 

Virtual reality experience creation involves developing immersive and interactive virtual reality content for entertainment or educational purposes. Students can create virtual reality experiences and offer them for rent or provide on-site experiences at events. This project requires virtual reality equipment, software development skills, and marketing efforts. 

Moderate to High 

• Knowledge of virtual reality technology and software
• Programming and software development skills
• Creativity and storytelling abilities

39. Online Tutoring Services

Online tutoring services involve providing academic support and guidance to students in various subjects. Students can offer one-on-one tutoring sessions or group lessons through virtual platforms. This project requires expertise in the chosen subject, teaching materials, and marketing efforts. 

• Proficiency in the chosen subject
• Ability to adapt teaching methods to individual learning styles

40. Custom Cake Design and Baking

Custom cake design and baking involve creating unique and customized cakes for special occasions, such as birthdays, weddings, or anniversaries. Students can offer their baking and cake decorating skills and provide personalized designs based on client preferences. This project requires baking supplies, cake decorating tools, and marketing efforts. 

• Baking and cake decorating skills

41. Online Yoga and Meditation Classes 

Online yoga and meditation classes involve providing virtual sessions for individuals seeking relaxation, mindfulness, and physical well-being. Students can create customized yoga and meditation programs, conduct live or pre-recorded classes, and offer personalized guidance. This project requires yoga certifications, video recording equipment, and marketing efforts.

• Proficiency in yoga and meditation techniques
• Ability to create calming and engaging sessions

Steps To Develop A Unique Business Idea

Here are some main steps to develop a unique business idea:

Step 1: Identify Interests and Problems

Step 2: Research and Brainstorm Ideas

Step 3: Define Target Audience and Needs

Step 4: Create a Unique Solution or Product

Step 5: Plan and Test Your Idea

Read More 

• Business Intelligence Projects For Beginners
• How To Use Business Intelligence To Make Better Business Decisions

Tips For Successfully Completing The School Project Business

Here are some tips for successfully completing the school project business:

Tip 1: Plan and Organize

Create a plan and keep things organized. Planning helps to know what to do, when to do it, and what materials are needed, while being organized makes the project easier to manage.

Tip 2: Communicate Well

Good communication is essential. Talking to team members and customers helps everyone know what’s going on, preventing misunderstandings and keeping the project on track.

Tip 3: Stay Flexible

Being flexible helps to adapt to changes or problems. Things might not always go as planned, so being open to changes and new ideas is important.

Tip 4: Learn from Mistakes

Mistakes happen, and that’s alright. Learning from them helps to improve. Instead of feeling bad, see mistakes as chances to do better next time.

Tip 5: Celebrate Achievements

Celebrate progress and success. Recognizing accomplishments, big or small, keeps motivation high and shows how much has been achieved.

Challenges While Implementing Unique Business Ideas And How To Overcome Them

Here are some challenges while implementing unique business ideas and how to overcome them: 

1. Limited market acceptance

One of the challenges in implementing unique business ideas is the limited acceptance of new concepts in the market.

How To Overcome: Businesses can conduct market research to understand the target audience’s needs and preferences, and then tailor their unique idea to meet those demands effectively.

2. Lack of funding

Another challenge is the lack of funding to bring unique business ideas to life.

How To Overcome: Individual investors, venture capitalists, crowdsourcing, and even bootstrapping are just a few of the funding possibilities available to entrepreneurs. Additionally, in order to draw in possible investors, they can write an engaging business plan.

3. Resistance to change

Implementing unique business ideas often faces resistance from employees, customers, or even stakeholders who are comfortable with the status quo. 

How To Overcome: Businesses should focus on effective communication and change management strategies. They can involve employees in the decision-making process, provide training and support, and demonstrate the benefits of the new idea to gain buy-in from all stakeholders.

4. Competitive landscape

Unique business ideas may face intense competition from existing players in the market. 

How To Overcome: Businesses should differentiate themselves by emphasizing their unique selling points and value proposition. They can also focus on creating a strong brand identity and building customer loyalty through exceptional service and innovative marketing strategies.

5. Uncertainty And Risk

Implementing unique business ideas involves a certain level of uncertainty and risk.

How To Overcome: Businesses can conduct thorough market research, analyze potential risks, and develop contingency plans. They can also seek advice from industry experts and mentors to gain insights and guidance throughout the implementation process.

After exploring unique business ideas for school project is an engaging path toward practical education . Students discover the significance of hands-on learning, navigating the ropes of entrepreneurship within their educational sphere. Considering passion, resources, and audience, 40+ creative business ideas cater to school projects. 

Understanding how to develop unique ideas and implementing essential success tips equips students with practical skills. Challenges become stepping stones, encouraging adaptability and resilience. These projects foster growth, shaping young minds for future ventures. Embracing creativity and learning from experience, students find inspiration and valuable lessons, laying a solid foundation for their entrepreneurial journey.

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How to Write a Private School Business Plan [Sample Template]

Are you about starting a private school (nursery, primary or high school)? If YES, here’s a complete sample private school business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a private school.

We also took it further by analyzing and drafting a sample private school marketing plan template backed up by actionable guerrilla marketing ideas for private schools. So let’s proceed to the business planning section.

Why Start a Private School?

One of the best things that can happen to anyone is to have a private school. This is one very lucrative business that will continue to rake in money for its owners. As an aspiring entrepreneur who is looking towards starting a business, you should ensure that whatever business you intend to start, you make sure that it is located in an appropriate place.

For example; if you want to start a private school, it will be a wrong business judgment if you decide to site the school close to an industrial area or close to a market. Aspiring entrepreneurs therefore are urged as a matter of necessity to ensure that they carry out a thorough market research and feasibility study of the industry they intend to go into before investing their hard earned money and time.

It is known fact that the demand for private schools is driven by the fact that most public cum government owned schools cannot accommodate every students or potential students in a given geographical location. In some cases, students with special needs cannot cope in public schools hence the need for private schools.

If you think starting a private school business sounds like what you want to do. Then you may want to use the business plan below as a guide.

A Sample Private School Business Plan Template

1. industry overview.

Private schools which is also known in the united states as independent schools, non-governmental, or non – state schools are schools that are not administered by either the local, state or the federal governments; hence, they have the right to select their students and are funded in whole or in part by charging their students tuition fees, rather than relying on mandatory taxation through public (government) funding.

Some private schools have structure in place that offer scholarships to some students, which makes the cost cheaper, depending on a talent such as sport scholarship, art scholarship, academic scholarship the student may be brining to the private school, financial need, or tax credit scholarships that might be available.

The Private Schools industry comprises of primary that is kindergarten through sixth grade and secondary that is seventh through 12th grade) educational institutions that are predominantly funded through enrollment and tuition fees from students and of course from other private sources.

Recent reports released by IBISWORLD shows that the revenue for the Private Schools industry is expected to increase, as the economy continues to recover. The indicated that during the five years to 2016, enrollment decreased, which was a trend attributable to rising costs and competition from charter schools.

However, going forward, in the next five years, household income is anticipated to increase, making it easier for families to afford private-school tuition. Additionally, enrollment declines will lesson, resulting in more stable demand for private schools

In the United States of America and of course in most countries of the world, The Private Schools industry is indeed a large and thriving industry. Statistics has it that The Private Schools industry in the United States of America, is worth $52 billion, with an estimated growth rate of 0.1 percent.

There are about 25,742 registered and licensed (accredited) Private schools scattered all around the United States of America and they are responsible for employing about 644,320 people.

Aside from Catholic schools, which is the second largest sector after government schools, with around 21 percent of secondary enrollments, no other private school can boast of dominating the market; every player in the industry can comfortably compete in the industry.

It is important to state that the barriers to entry into the Private Schools industry are high. As a matter of fact, the private school industry is an industry in which it is pretty difficult for new entrants to establish themselves. So also, the reputation of the private school is of utmost importance, as private schools that have a good history of getting students into prestigious colleges often have the best reputations hence good enrollments.

With this, it is obvious that a new entrant in to the private school industry cannot offer this. Reputation indeed is imperative to parents’ decisions when shopping for private school for their wards. This is so because the quality of education cannot be assessed until well after it is complete. As a major marketing tool, schools need to show parents a track record of admission to elite colleges and universities.

Even though this might seem like a saturated industry, the industry is still pretty much open for aspiring school proprietors and proprietress to still come in and compete. As a matter of fact, if you conduct your research and feasibility studies very well before starting your own private school couple with impressive profile of your faculty members, you are likely going to struggle less to make headway in the industry.

2. Executive Summary

Rolland Gyros International Private School is an international private school that will be located in a well – populated residential estate in Ashville – North Carolina, United States of America. We are a standard private school that is composed of primary (kindergarten through sixth grade) and secondary (seventh through 12th grade) educational institution that will be predominantly funded through tuition fees and levies from students and of course from other private sources.

Rolland Gyros International Private School is a client-focused and result driven private school that provides broad-based learning approaches and experience at an affordable fee that won’t in any way put a hole in the pockets of our clients (students and parents alike).

We will offer standard and professional teaching services in a highly secured and conducive learning environment to all our students that is primary (kindergarten through sixth grade) and secondary (seventh through 12th grade). We will ensure that we work hard to meet and surpass all our students’ expectations and educational goals whenever they enroll in our tutorial college.

At Rolland Gyros International Private School, our students’ overall best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professional educationist cum teachers in various subjects who are well experienced and passionate in imparting knowledge to students at various learning ladder.

Rolland Gyros International Private School will at all time demonstrate her commitment to sustainability, both individually and as an educational organization, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our students’ needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our students.

We have plans to offer learning platforms to people with both learning disability and physical disability (especially the blind, the dumb and the deaf). Our overall business goal is to position our private school to become the leading tutorial brand in the educational industry in the whole of Ashville – North Carolina, and also to be amongst the top 30 private schools in the United States of America within the first 12 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Ashville is the right place to launch our private school.

Rolland Gyros International Private School is founded by Dr. (Mrs.) Irene Rolland Gyros and family. She is an educationist per excellence and she has won many awards in the education sector in the United States. Dr. (Mrs.) Irene Rolland Gyros has both the academic qualifications and experience to run a private school that can favorably compete with other leading private schools not only in Ashville – North Carolina, but also throughout the United States and Canada.

3. Our Products and Services

Rolland Gyros International Private School is going to offer varieties of educational services within the scope of the education board in the United States of America. Our intention of starting our private school is to soundly educate people in various subjects and of course to make profits from the education cum private schools industry and we will do all that is permitted by the law in the US to achieve our aim and business goal.

Our service offerings are listed below;

• Teaching basic literacy and numeracy
• Establishing foundations in science, mathematics, geography, history and other social sciences
• Constantly working hard to meet regulatory accreditation standards
• Administering private funding efforts
• Providing access to extracurricular activities
• Retailing of Educational Books and Materials

4. Our Mission and Vision Statement

• Our vision is to build a highly competitive private school that will become the number one choice for both parents and students in the whole of Ashville – North Carolina.
• Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to provide professional and conducive learning environment to students at different level of learning.
• Our overall business goal is to position Rolland Gyros International Private School to become the leading private school brand in the educational cum private school industry in the whole of Ashville – North Carolina, and also to be amongst the top 30 private schools in the United States of America within the first 12 years of operations.

Our Business Structure

It is a known fact that, the success of any business is to a larger extent dependent on the business structure of the organization and the people who occupy the available roles in the organization. Rolland Gyros International Private School will build a solid business structure that can support the growth of our private school.

We will ensure that we hire competent hands (teaching and non – teaching staff members) to help us build the private school of our dream. The fact that we want to become one of the leading private school brand in the industry in the whole of the United States of America makes it highly necessary for our organization to deliberately build a well – structured business from the onset.

We will work hard to ensure that we only attract people with the right mindset to help us achieve our business goals and objectives in record time. Below is the business structure that we will build Rolland Gyros International Private School;

• Head of The Private School(School Proprietress)

School Administrator

Tutors for Various Subjects – Secondary (seventh through 12th grade)

Tutors for Various Subjects – Primary (kindergarten through sixth grade)

• Accountant / Bursar
• Client Service Executive / Front Desk Officer

Security Officers

5. Job Roles and Responsibilities

Head of the Tutorial College / School Coordinator:

• Responsible for providing direction for the college
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for handling high profile clients and deals
• Responsible for fixing fees and signing business deals (partnership)
• Responsible for signing checks and documents on behalf of the tutorial college
• Coordinates all arms of the tutorial school (tutorial center, adult education, home tutors and special education)
• Evaluates the success of the tutorial college
• Reports to the board of the tutorial college
• Responsible for overseeing the smooth running of HR and administrative tasks for the tutorial school
• Designs job descriptions with KPI to drive performance management for tutors (teachers)
• Regularly hold meetings with key stakeholders (parents and member of the school board) to review the effectiveness of the schools’ Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily activities of the private school.
• Effectively teach subject / subjects as assigned by the school administrator
• Accesses the progress of students under their care
• Ensures that students abide by the rules and regulations of the private school
• Contributes his / her quota towards growing the private school
• Receives complaints from parents and channel it to the appropriate quarters
• Handle any other duty as assigned by the school administrator.
• Ensure that students abide by the rules and regulations of the school administrator
• Handles any other duty as assigned by the school administrator.

Marketing Executive

• Identifies, prioritizes, and reaches out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the school

School Bursar (Accountant)

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for Rolland Gyros International Private School
• Serves as internal auditor for Rolland Gyros International Private School

Client Service Executive

• Welcomes / receive parents and students by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with parents and students (e-mail, walk-In center, SMS or phone) provides the parents and students with a personalized customer service experience of the highest level
• Through interaction with parents and students on the phone, uses every opportunity to build parent’s interest in the schools’ products and services
• Manages administrative duties assigned by the HR and Admin Manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to parents and students when they make enquiries
• Receives parcels / documents for Rolland Gyros International Private School
• Distribute mails in the organization
• Handles any other duties as assigned by the School Administrator.
• Responsible for cleaning the school facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the schools facility
• Handles any other duty as assigned by the school administrator
• Ensures that the school facility is secured at all time
• Controls traffic and organize parking
• Gives security tips to staff members from time to time
• Patrols around the building on a 24 hours basis
• Submits security reports weekly
• Any other duty as assigned by the school administrator

6. SWOT Analysis

Rolland Gyros International Private School engaged the services of a core professional in the area of business consulting and structuring with bias in the education sector to assist us in building a well – structured private school that can favorably compete in the highly competitive education cum private schools industry in the United States.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Rolland Gyros International Private School. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Rolland Gyros International Private School;

As a private school, our core strength lies in the power of our team; our workforce. We have a team with excellent qualifications and experience in the educational sector. We are well positioned in a community with the right demography and we know we will attract loads of students from the first day we open our doors and welcome students for enrollment.

As a new private school in Ashville – North Carolina, it might take some time for our organization to break into the market and gain acceptance via reputation in the already saturated education cum private schools industry; that is perhaps our major weakness.

• Opportunities:

The opportunities in the education cum private schools industry is massive considering the number of parents who would want their wards to perform excellently well in their education and go ahead to be admitted in Ivy league colleges. As a standard and international private school, Rolland Gyros International Private School is ready to take advantage of any opportunity that comes her way.

Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the private school.

Some of the threats that we are likely going to face as a private school operating in the United States of America are unfavorable government policies that might affect private schools, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The trend in the private school line of business is that the key to attracting students is the educational performance and the pass rate of their students in national exams. Any private school that has good records will always thrive. The demand for private schools is driven by the fact that most public cum government owned schools cannot accommodate every students or potential students in a given geographical location.

In some cases, students with special needs cannot cope in public schools hence the need for private schools. The economic downturn hasn’t really affected this industry, especially in countries that believe in the efficacy of education.

The areas you would need to spend heavily on is in ensuring that your school is up to standard, your advertisements, and on insurance policy cover. Lastly, it is trendier to find private schools engaging in extra – curricular activities and as a matter of fact, a private school that thrives in sports can leverage on that to attract students who are sports inclined.

8. Our Target Market

As a standard and international private school, Rolland Gyros International Private School is going to offer varieties of educational services within the scope of the education board in the United States of America. Our intention of starting our private school is to soundly educate people in various subjects and of course to make profits from the education cum private schools industry

Our target market as a private school cuts across people (students) of different class and people from different culture background whether African, White, Caucasian, Latinos, Indians, and Asians. We are coming into the education cum private schools industry with a business concept that will enable us work with the students at different learning stages residing in and around Ashville – North Carolina.

Our competitive advantage

Indeed the private schools industry is highly competitive and the entry barriers are high. As a matter of fact, the private school industry is an industry in which it is pretty difficult for new entrants to establish themselves. So also, the reputation of the private school is of utmost importance, as private schools that have a good history of getting students into prestigious colleges often have the best reputations hence good enrollments.

We are quite aware that to be highly competitive in the education cum private schools industry means that you should be able to deliver consistent quality service, your students should be able to experience remarkable difference and improvement and you should be able to meet the expectations of both students and parents alike.

Rolland Gyros International Private School might be a new entrant into the education cum private schools industry in the United States of America, but the management staffs and owners of the private school are considered gurus. They are people who are core professionals, licensed and highly qualified educationist / teachers at various levels of learning in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees (teaching and non – teaching staff members) will be well taken care of, and their welfare package will be among the best within our category (startups private school in the United States) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Rolland Gyros International Private School is established with the aim of maximizing profits in the education cum private schools industry and we are going to go all the way to ensure that we do all it takes to attract students on a regular basis.

Rolland Gyros International Private School will generate income by offering the following tutorial services;

• Teaching High school students various subjects in our private school

10. Sales Forecast

One thing is certain, there would always be parents and students who would need the services of private schools to be able to achieve their educational goals and as such the services of private schools will always be needed.

We are well positioned to take on the available market in Ashville – North Carolina and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the private school and our student base.

We have been able to critically examine the private schools cum education market in the United States of America and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.

The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Ashville – North Carolina. Below is the sales projection for Rolland Gyros International Private School, it is based on the location of our tutorial center and of course the wide range of tutorial services that we will be offering;

• First Fiscal Year-: $250,000
• Second Fiscal Year-: $450,000
• Third Fiscal Year-: $750,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. So, there won’t be any major competitor (private school) offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiffer competition amongst private schools in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing concerns. Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the private school.

We will also ensure that our students’ excellent results from national exams and other exams speaks for us in the market place; we want to build a standard and first – class private school that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our private school to become one of the top 30 private schools in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Ashville – North Carolina but also in other cities in the United States of America.

Rolland Gyros International Private School is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our private school by sending introductory letters alongside our brochure to schools, parents / household and key stake holders in Ashville – North Carolina.
• Print out fliers and business cards and strategically drop them in schools, libraries and even student organizations.
• Creating a website, allows parents to be able to look you up, and also allows you to post general study tips, giving you an added advantage.
• Use friends and family to spread word about our private school
• Introduce Rolland Gyros International Private School to learning specialists, school coaches, school administrators, teachers, guidance counselors especially as they are with students everyday
• Post information about Rolland Gyros International Private School on bulletin boards in places like schools, libraries, and local coffee shops.
• Placing a small or classified advertisement in the newspaper, or local publication about Rolland Gyros International Private School
• Using tutorial referral networks such as agencies that will help match students with Rolland Gyros International Private School
• Joining relevant association or body that will enable you network and meet others in same industry.
• Advertising online by using an advertising platform such as Google Adwords, that will allow us place text advertisements alongside on websites with related contents, and along results from search engines.
• Advertise our private school in relevant educational magazines, newspapers, TV stations, and radio station.
• Attend relevant educational expos, seminars, and business fairs et al
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We are aware of the potency of a good publicity strategy hence we have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both parents and students in the whole of Ashville – North Carolina which is why we have made provisions for effective publicity and advertisement of our private school. Below are the platforms we intend to leverage on to promote and advertise Rolland Gyros International Private School;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
• Install our Bill Boards on strategic locations all around Ashville – North Carolina.
• Engage in road show from time to time in targeted neighborhoods in and around Ashville – North Carolina
• Distribute our fliers and handbills in target areas in and around Ashville – North Carolina
• Passing general information via our school’s social media handles like twitter, Facebook, Google hangouts etc.
• Ensure that all our teaching and non – teaching staff members wear our branded shirts and all our vehicles are well branded with our schools’ logo et al.

12. Our Pricing Strategy

Private schools in the United States of America and of course in all the parts of the world charge students per tem / per session and students have the options of either paying their tuitions before resumption or during the school session.

Private schools generally charge students based on loads of factors, locations, services offerings and extra – curricular activities et al At Rolland Gyros International Private School we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance.

In addition, we will also offer special discounted rates to all our students at regular intervals. We are aware that there are some students that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such students’ needs.

• Payment Options

At Rolland Gyros International Private School, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment via mobile money
• Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

13. Startup Expenditure (Budget)

In setting up a private school business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by acquiring a large facility, then you would need a higher amount of capital as you would need to ensure that your employees are taken care of, and that your private school’s environment is conducive enough for the students to learn.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a private school business; it might differ in other countries due to the value of their money. However, this is what it would cost us to start Rolland Gyros International Private School in the United of America;

• Business incorporating fees in the United States of America will cost – $750.
• The budget for Liability insurance, permits and license will cost – $3,500
• Acquiring a large facility that will accommodate the number of block of closes, playing field, staff offices and parking lots et al (Re – Construction of the facility inclusive) will cost – $350,000.
• Equipping the classes and office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $50,000
• Launching an official Website will cost – $500
• The budget for the payment of salaries for the first three months of operations: $120,000
• Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $15,000

Going by the market survey and feasibility studies conducted, we came to the conclusion that we will need an average of $750,000 to start a small scale but standard private school in the United States of America.

Generating Funding / Startup Capital for Rolland Gyros International Private School

Rolland Gyros International Private School is a family business that will be owned and managed by Dr. (Mrs.) Irene Rolland Gyros and her immediate family. They are the sole financial of the private school which is why they decided to restrict the sourcing of the start – up capital for the private school to just three major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings and sale of his stocks
• Generate part of the start – up capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is a known fact that the future of any business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and of course the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Rolland Gyros International Private School is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers (students and parents alike) over is to ensure that we offer nothing less than the best, to offer quality education to all our students so much so that they can favorably compete with students all over the United States and gain admission to Ivy League colleges.

Rolland Gyros International Private School will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

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How to write a business plan for your private school project.

Starting a private school is a great way to provide students with an alternative education option that is tailored to their individual needs and interests.

It also allows for greater autonomy and flexibility in curriculum design and implementation, allowing for more personalized learning experiences.

But, before that, you need a business plan.

Creating a business plan before beginning a project is essential for success. It helps to identify potential risks and opportunities, as well as providing a roadmap for the project.

In short, a good business plan will help ensure the profitability of your private school project .

What should be covered when creating a business plan for a private school? How can it be effectively planned? What are the essential financial measures to include? What steps should I take to ensure an efficient process when writing a business plan?

Good news, you can find all the answers to these questions in the forthcoming article!

One last thing: you can avoid starting your business plan from scratch.

Feel free to download our professional business plan for a private school and tailor it to suit your project.

Designing a business plan for a private school

Is a business plan recommended for your private school project.

Yes, you should create a business plan for your private school project.

Crafting a well-structured business plan will help you to:

• gain knowledge of the private school market
• keep up with the industry's changing trends
• discover what makes a private school competitive
• understand parents' educational preferences and expectations
• come up with a winning value proposition for your independent educational institution
• examine competitor market share
• find solid competitive advantages for your private school project
• find a business model that will lead to a positive bottom line
• implement a winning strategy on the short and the long-term
• assess potential risks involved in starting a private school, such as regulatory compliance, student safety, and educational quality

Our team has created a business plan for a private school that is designed to make it easier for you to achieve all the elements listed.

How to outline a business plan for a private school?

If done well, your business plan will be a full package of content, metrics and financial data. It must be presented in a structured format, to make easy to read and digest.

When we built our business plan for a private school , we made sure to structure it propertly.

You'll come across 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The section number one is called "Market Opportunity".

Access relevant data and metrics for the private school project, assisting you in analyzing the opportunities and challenges within the education and schooling sector.

The data here is always fresh; we update it twice a year.

2. Project Presentation

The "Project" section is where you outline your private school project. You can describe the educational philosophy, curriculum offerings, extracurricular activities, facilities, teaching staff qualifications, admission process, and the unique value proposition that sets your school apart in providing quality education.

Remember to introduce yourself at the end of this section.

Discuss your passion for education, your vision for the private school, and how you plan to create an enriching and nurturing learning environment for students. Highlight your qualified faculty, your innovative curriculum, and your dedication to providing personalized attention and holistic development opportunities through your private school project.

We wrote some content in our business plan. Change it to fit your concept.

3. Market Research

The next item on the list is the "Market Research" section.

The purpose of this section is to introduce the market segments for your private school project.

It includes a competition study, outlining other private schools in the area. Your school's unique educational programs and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

Within the "Strategy" section, a detailed plan spanning three years is presented, highlighting the initiatives and actions necessary to make your private school project highly profitable.

Additionally, you'll find a marketing strategy, a plan to manage risks, and a completed Business Model Canvas, tailored to a private school, in this section.

5. Finances

In the end, the section labeled "Finances" allows you to showcase the financial details and values of your project.

How to elaborate the Executive Summary for a private school?

The Executive Summary serves as a compact introduction to the business plan of your private school project.

Don't go beyond 2 pages; ensure you include only the critical information.

This document is designed to make the reader excited about your business plan.

In the Executive Summary of your private school project, answer these questions: what is your private school project about? who is your target market? are there other private schools in the area? what sets your school apart from them? how much funding do you require?

How to do the market analysis for a private school?

The market study of your private school project helps you understand external factors such as parent preferences for education, competition within the private school sector, and emerging trends in educational practices.

By conducting an extensive market study, a private school can understand parent and student needs, offer quality education and comprehensive programs, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a larger student base, increased enrollment, and a prominent position in the private education sector.

Here is what what we've put in the "Market Research" section of our business plan for a private school :

• key insights and trends in private schools, including private school enrollment rates, education quality, and the impact of specialized private school programs
• a list of potential market segments for a private school
• the competitive review
• the competitive advantages to target for a private school

The key points of the business plan for a private school

What's the business model of a private school, business model of a private school.

a private school's business model revolves around providing education services to students in a private setting. Revenue is generated through tuition fees, potentially offering additional services such as extracurricular activities or specialized programs.

The business model focuses on offering a high-quality and comprehensive curriculum, hiring qualified educators, providing modern facilities and resources, marketing to target parents and students, and building strong relationships with parents and the local community.

Success depends on establishing a positive reputation for academic excellence, attracting and retaining students, meeting regulatory requirements, effective marketing strategies, and delivering a holistic and enriching educational experience.

Business model ≠ Business plan

Avoid confusing "business plan" with "business model."

A business model is a framework that outlines how a company creates value, delivers products or services, and generates revenue.

In a business plan, you employ the Business Model Canvas as a practical tool to outline the key aspects of your business model.

Rest assured, there is a Business Model Canvas (already completed) in our business plan for a private school .

How do you identify the market segments of a private school?

Segmenting the market for your private school project involves dividing your potential students and families into different groups based on their educational needs, preferences, and demographics.

These categories may include factors such as grade levels, curriculum types, extracurricular programs, or families seeking specific educational approaches (e.g., Montessori, STEM, arts-focused).

By segmenting your market, you can offer a private school experience that caters to each segment's specific requirements. For example, you might provide elementary, middle, and high school programs for students of different grade levels, offer a comprehensive curriculum that encompasses a range of subjects and learning areas, specialize in specific educational approaches or philosophies such as Montessori, STEM (Science, Technology, Engineering, and Mathematics), or an arts-focused curriculum, or focus on offering a variety of extracurricular programs and enrichment activities that align with the interests and talents of students.

Market segmentation allows you to effectively target your marketing efforts, communicate the unique benefits of your private school, and provide a nurturing and stimulating educational environment that meets the unique needs and preferences of each student segment and their families.

In the business plan for a private school , you will find a comprehensive market segmentation that will help you identify your potential customers.

How to conduct a competitor analysis for a private school?

Without surprise, you won't be the only private school project in your area. There are other educational initiatives working towards establishing quality private schools.

Develop a solid business plan by conducting an extensive competitor analysis that evaluates their strengths and weaknesses.

Address their weaknesses (such as inadequate curriculum design, lack of extracurricular activities, or poor student support services).

Why is it crucial to notice these aspects? Because these weaknesses can impact the success of private school projects.

By focusing on these areas, you can offer a comprehensive and well-rounded education curriculum, provide qualified and dedicated teaching staff, and create a nurturing and inclusive school environment, positioning your private school project as a preferred choice for parents and students seeking quality education and holistic development.

It's what we call competitive advantages—building them is essential for a standout business.

Here are some examples of competitive advantages for a high school: experienced and dedicated teaching staff, diverse educational programs, supportive learning environment.

How to draft a SWOT analysis for a high school?

A SWOT analysis can help identify potential opportunities and threats that can affect the success of the private school project.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a private school

The strengths for a private school

S stands for Strengths in SWOT, representing the project's valuable strengths or advantages.

For a private school, possible strengths could include a highly qualified teaching staff, a rigorous academic curriculum, a diverse student body, and a strong emphasis on extracurricular activities.

The weaknesses for a private school

The "W" symbolizes Weaknesses, indicating the specific areas or aspects of the project that require attention.

For a private school, potential weaknesses could include inadequate funding, lack of qualified teachers, insufficient resources, and limited parental involvement.

The opportunities for a private school

The "O" in SWOT stands for Opportunities, which are positive external factors that can help the project succeed.

In the case of a private school, potential opportunities include creating an innovative curriculum, increasing student engagement, expanding the school's reach through technology, and developing community partnerships.

The threats for a private school

When we refer to the "T" in SWOT, we're referring to Threats, which are the external risks or detrimental factors that can impact the project's performance.

How to develop a marketing plan for a high school?

A marketing strategy is a necessary component of a business plan as it describes how a business will engage customers and generate sales.

A well-crafted marketing strategy will attract parents seeking quality education for their children to your private school project.

Parents won't enroll their children in your private school project without effective marketing; showcasing the quality of education, extracurricular activities, and nurturing environment is crucial.

Are you implementing effective marketing strategies for your private school project? Consider hosting open houses or informational sessions for parents, showcasing your school's unique educational programs, and utilizing targeted advertising campaigns in local communities.

Don't worry if you have no clue about marketing and communication.

How to build a solid financial plan for a high school?

A successful business plan must include detailed financial information, such as income and expense projections, cash flow statements, and a break-even analysis.

In the process of developing your business plan, you'll need to determine the expected revenue for your private school project.

The revenue forecast should be based on reliable information and reflect current market conditions.

Our financial plan for a private school is straightforward and equipped with automated checks, enabling you to validate and adjust your assumptions easily. This way, we make sure you're building solid financial projections.

It goes without saying that you'll have to develop a provisional budget for your private school project. Don't overlook any expense. By the way, we've listed them all in our financial plan!

The break-even analysis is central in the financial plan as it will tell you whether your private school project will be profitable or not.

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7 Business Plan Templates for Kids (Free Printables!)

By: Author Amanda L. Grossman

Posted on Last updated: January 5, 2023

Download one of these (mostly) free business plan templates for kids to help your child focus on a business idea.

What do super soakers, Apple computers, and Nike shoes all have in common?

They all started as a business plan.

A business plan template for kids is great for two reasons:

• Your child can play around with it and get familiar with what's required (even if they never start the business)
• It helps kids focus on just one business idea at time, and to see if they should move forward with it

No matter which category your own child falls into – just playing with business plans, or they have an actual business idea – I’ve got just the free business plan template for you.

Honestly? I wish my own parents would’ve given me one of these when, as a kid, my childhood friend and I had come up with our first kid business idea: selling bean bags. So, good on you for getting your kids involved with business plans so early in life!

Best Business Plan Templates for Kids

Use one of the business plan templates for kids below with one of these 16 kid business ideas .

OR, help them to use one of their original ideas sending sparks in their brain. You can use these 3 kid business plan examples for help with filling it out.

1. Solid Gold Biz Plan

I’ve been in business for 7 years and I’ve made about every mistake in the book.

Probably one of the biggest? Was that I didn't sit down to write a proper business plan (or, ANY business plan) until I was several years into blogging. 

Because of this, I created a free business plan template for kids and teens (on Page 6 of this free printable), so that they practice how to do it right, from the beginning! 

What makes my free Solid Gold Biz Plan different is that it starts your child thinking about the problem that they want to solve – because ultimately, that is the purpose of creating a product or a service. To solve a specific problem for people.

It then goes on to ask them simple questions that will focus them in on what it takes to plan out a business idea.

For example, I raise the question of how much it will cost to not only create the product/service, but to also deliver it and maintain it. These are sometimes costs forgotten costs when creating a business plan.

2. BizKids’ Guide to Writing a Business Plan

This free business plan guide for kids includes sections for your idea, your marketing (and what makes your product unique), your startup costs, and an area for pricing so that you can make sure you’ll make a profit.

At the end is a one-page summary where your child can write up their answers from the previous pages all in the same place. Great for tacking up on the wall!

3. Teen Entrepreneur Toolbox

Anthony ONeal partnered up with Dave Ramsey to create the  Teen Entrepreneur Toolbox , a kid’s entrepreneur kit and small business guide for teens.

In other words, it’s so much more than just a business template for kids!

The entrepreneur kit includes the following:

• Access to Free Entrepreneur Toolbox app
• Teen Portfolio Book
• DVD of Anthony’s Training Video
• Parent’s Guide Book
• Pack of Thank You Cards
• Deck of Conversation Starter Cards about Starting a Business
• Goal Tracker Poster

Here's my full review of the Teen Entrepreneur Toolbox .

4. Home Sweet Road’s My Business Plan

Check out this business plan for kids, which asks kids questions like what makes their idea unique, whether or not their idea is a product or service, and who their customers will be.

5. Proverbial Home Maker’s Family Business Plan Guide

This is such a fun guide that you can fill out with your child, teen, tween, or even the whole family. It includes family business ideas, a sales ledger, inventory worksheet, and much more.

Business Plan Examples

You may be wondering where you can find business plan examples to show your kids or teens.

For starters, you should look right at home. Are you a small business owner?

Then you’ll definitely want my free Take Your Child to Work Day printables – it’s got a section for you to fill in about your own business, which is a perfect business plan example to discuss with your child.

You can also find two business plan examples on the Small Business Administration’s site (scroll down until you see red buttons to Rebecca’s example business plan, and Andrew’s plan).

They’re not entirely kid-friendly, but can give lots of ideas for the kind of information and research to put into a business plan.

Business Plan Activity Worksheets

Check out these free PDF Shark Tank worksheets for students . Students or kids can work through coming up with their own business idea, create an advertisement for it, and a scoring card to judge the business ideas.

You’ll find a free 30-minute Small Business Administration course for young entrepreneurs meant for teens that you can use with your students (or have your child go through).

Hint: In Objective 3, it goes over how to create a business plan.

Are you an educator? Great – you can get free entrepreneur curriculum for Grades 1 – 12, with lots of worksheets, from the Venture Lab .

Further resources include:

• Teen Business Video Lessons
• EverFI’s Entrepreneurial Expedition
• FEE’s Course on the Entrepreneur’s Role in Creating Value
• Business Plan Note Taker (lots of great prompts to create a business plan with)

Grab 23 more entrepreneur lesson plans here.

I hope you've found some business template for kid resources that interest you? Below, you'll find other related kid entrepreneurship articles that will help your kids, teens, and students learn about the entrepreneur career path. 

Related Kid Entrepreneurship Resources

• 27 Youth Entrepreneur Awards and Scholarships
• 5 Kid Entrepreneur Kits
• 14 Kid Entrepreneur Books
• 11 Best Business Simulation Games for Kids
• Latest Posts

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How to write an effective project plan in 6 simple steps

Contributing writer

If you’re a Type A personality, project planning might sound like music to your ears. Setting deadlines, organizing tasks, and creating order out of chaos — what’s not to love?

The reality is that project planning isn’t for everyone. In one survey by Association for Project Management, 76% of project professionals said their main project was a source of stress . Poor planning, unclear responsibilities, and overallocation are often the culprits behind the stress. 

An effective project plan helps teams stay within budget, scope, and schedule, while delivering quality work. In short, it gets you to the finish line without the stress.  

What is a project plan?

A project plan, also known as a work plan, is a blueprint of your project lifecycle. It’s like a roadmap — it clearly outlines how to get from where you are now (the beginning of the project) to where you want to go (the successful completion of the project). 

“A project plan is an action plan outlining how…[to] accomplish project goals,” says Jami Yazdani , certified Project Management Professional (PMP), project coach, project management consultant, and founder of Yazdani Consulting and Facilitation . 

A comprehensive project plan includes the project schedule, project scope, due dates, and deliverables. Writing a good project plan is key for any new, complex project in the pipeline.

Why Are Project Plans Important?

Project plans allow you to visualize your entire project, from beginning to end—and develop a clear strategy to get from point A to point B. Project plans steer stakeholders in the right direction and keep team members accountable with a common baseline.  

Project plans help you stay agile

Projects are bound by what is traditionally called the “iron triangle” of project management . It means that project managers have to work within the three constraints of scope, resources (project budget and teams), and schedule. You cannot make changes to one without impacting the other two.    

Modern-day project management has shifted to a more agile approach, with a focus on quality. This means that resources and schedules remain unchanged but a fixed number of iterations (flexible scope) helps teams deliver better quality and more value. 

A project plan puts this “agile triangle” in place by mapping out resources, schedules, and the number of iterations — sprints if you’re using a Scrum framework and work in progress (WIP) limits if you’re using the Kanban methodology . 

As Yazdani points out, “Project plans help us strategize a path to project success, allowing us to consider the factors that will impact our project, from stakeholders to budget to schedule delays, and plan how to maximize or mitigate these factors.” 

Project plans provide complete visibility

A project plan, when created with a comprehensive project management software , gives you 360-degree visibility throughout the project lifecycle. 

As a project manager, you need a single source of truth on team members and their project tasks, project scope, project objectives, and project timelines. A detailed project plan gives you this visibility and helps teams stay on track.

Project plans also help to get everyone involved on the same page, setting clear expectations around what needs to be accomplished, when, and by who. 

“Project plans create a framework for measuring project progress and success,” says Yazdani. “Project plans set clear expectations for…stakeholders by outlining exactly what…will [be accomplished] and when it will be delivered.”

Project plans boost engagement and productivity

A well-written project plan clarifies how each individual team member’s contributions play into the larger scope of the project and align with company goals. When employees see how their work directly impacts organizational growth, it generates buy-in and drives engagement , which is critical to a project’s success. 

“Project plans provide…teams with purpose and direction,” says Yazdani. “Transparent project plans show team members how their individual tasks and responsibilities contribute to the overall success of the project, encouraging engagement and collaboration.”

How To Write A Project Plan in 6 Steps

Writing a project plan requires, well, planning. Ideally, the seeds for a project plan need to be sowed before internal project sign-off begins. Before that sign-off, conduct capacity planning to estimate the resources you will need and if they’re available for the duration of the project. After all, you want to set your teams up for success with realistic end dates, buffer time to recharge or catch up in case of unexpected delays, and deliver quality work without experiencing burnout .

Based on organizational capacity, you can lay down project timelines and map out scope as well as success metrics, outline tasks, and build a feedback loop into your project plan. Follow these project planning steps to create a winning plan:      

1. Establish Project Scope And Metrics

Defining your project scope is essential to protecting your iron, or agile, triangle from crumbling. Too often, projects are hit with scope creep , causing delays, budget overruns, and anxiety.

“Clearly define your project’s scope or overall purpose,” says Yazdani. “Confirm any project parameters or constraints, like budget, resource availability, and timeline,” says Yazdani.

A project purpose statement is a high-level brief that defines the what, who, and why of the project along with how and when the goal will be accomplished. But just as important as defining your project scope and purpose is defining what metrics you’re going to use to track progress.

“Establish how you will measure success,” says Yazdani. “Are there metrics, performance criteria, or quality standards you need to meet?”

Clearly defining what your project is, the project’s overall purpose, and how you’re going to measure success lays the foundation for the rest of your project plan—so make sure you take the time to define each of these elements from the get-go.

2. Identify Key Project Stakeholders 

Get clarity on the team members you need to bring the project to life. In other words, identify the key stakeholders of the project. 

“List individuals or groups who will be impacted by the project,” says Yazdani. 

In addition to identifying who needs to be involved in the project, think about how they’ll need to be involved—and at what level. Use a tool like Confluence to run a virtual session to clarify roles and responsibilities, and find gaps that need to be filled. 

Let’s say you’re managing a cross-functional project to launch a new marketing campaign that includes team members from your marketing, design, and sales departments. 

When identifying your key stakeholders, you might create different lists based on the responsibility or level of involvement with the project:

• Decision-makers (who will need to provide input at each step of the project)
• Managers (who will be overseeing employees within their department) 
• Creative talent (who will be actually creating the project deliverables for the campaign) from each department. 

Give your project plan an edge by using a Confluence template like the one below to outline roles and responsibilities.

Define roles, discuss responsibilities, and clarify which tasks fall under each teammate’s purview using this Confluence template. 

Getting clarity on who needs to be involved in the project—and how they’re going to be involved—will help guide the rest of the project plan writing process (particularly when it comes to creating and assigning tasks).

3. Outline Deliverables

Now is the time to get granular.

Each project milestone comprises a series of smaller, tangible tasks that your teams need to produce. While a big-picture view keeps teams aligned, you need signposts along the way to guide them on a day-to-day or weekly basis. Create a list of deliverables that will help you achieve the greater vision of the project. 

“What will you create, build, design, produce, accomplish or deliver?” says Yazdani. “Clearly outline your project’s concrete and tangible deliverables or outcomes.” Centralize these deliverables in a Trello board with designated cards for each one, like in the example below, so you keep work moving forward.

Each card on a board represents tasks and ideas and you can move cards across lists to show progress.

Defining the concrete items you need your project to deliver will help you reverse-engineer the things that need to happen to bring those items to life—which is a must before moving on to the next step.

4. Develop Actionable Tasks

Task management is an important component of any project plan because they help employees see what exactly they need to accomplish. Drill down those deliverables into actionable tasks to assign to your team. 

You can use either Confluence or Jira for different task management needs. If you want to track tasks alongside your work, like action items from a meeting or small team projects, it’s best to use Confluence. But if a project has multiple teams and you need insight into workflows, task history, and reporting, Jira makes it easy.      

“Let your deliverables guide the work of the project,” says Yazdani. “Break down each deliverable into smaller and smaller components until you get to an actionable task.” If a major deliverable is a set of content pieces, the smaller actionable tasks would be to create topic ideas, conduct research, and create outlines for each topic.  

Once you’ve broken down all of your deliverables into manageable, assignable subtasks, analyze how each of those tasks interacts with each other. That way, you can plan, prioritize, assign, and add deadlines accordingly.  

“Highlight any dependencies between tasks, such as tasks that can’t be started until another task is complete,” says Yazdani. “List any resources you will need to accomplish these tasks.”

When a task has multiple assignees, you need to streamline the workflow in your project plan. Say the content pieces you outlined need to be edited or peer-reviewed. A couple of articles may need an interview with a subject matter expert. Lay down a stage-by-stage process of each piece of content and pinpoint when each team member comes into play so you prevent bottlenecks and adjust timeframes.     

5. Assign Tasks And Deadlines

Assign tasks to your team and collaborate with employees to set deadlines for each task. When you involve employees in setting workloads and deadlines , you increase ownership and boost the chances of delivering quality work on time.  

After all, you want to move projects forward at a steady pace, but you also want to make sure your teams stay motivated and engaged. So, when writing your project plan, make sure to “set realistic and achievable deadlines for completing tasks and deliverables,” says Yazdani. “Highlight dates that are inflexible and factor in task dependencies. Add in milestones or checkpoints to monitor progress and celebrate successes .”

Use Jira and Confluence to create tasks that live alongside your project plan or meeting agendas.

Once you map out all of your tasks and deadlines, you should have a clear picture of how and when your project is going to come together—and the initial writing process is just about finished.

But that doesn’t mean your project plan is complete! There’s one more key step to the process.

6. Share, Gather Feedback, And Adjust The Project Plan As Necessary

While steps 1 through 5 may make up your initial writing process, if you want your project plan to be as strong and complete as it can be, it’s important to share it with your team—and get their input on how they think it can be improved.

“Share the plan with your project team and key stakeholders, gathering feedback to make adjustments and improvements,” says Yazdani. 

A tool like Confluence helps knowledge flow freely within teams and departments, leading to better teamwork, higher collaboration, and a shared understanding of priorities. Coworkers can use comments, mentions, notifications, and co-editing capabilities to provide and discuss feedback. 

After you gather your team’s feedback —and make any necessary adjustments based on that feedback—you can consider your project plan complete. Hooray! 

But as your project progresses, things may change or evolve—so it’s important to stay flexible and make changes and adjustments as needed.

“Expect to update your plan as you gather more information, encounter changing requirements and delays, and learn from feedback and mistakes,” says Yazdani. “By using your project plan to guide your activities and measure progress, you’ll be able to refine and improve your plan as you move through the project, tweaking tasks and deadlines as deliverables are developed.”

Download a  template to create your project plan and customize it based on your needs.

Example of a simple project plan 

A project plan doesn’t have to be a complicated spreadsheet with multiple tabs and drop-down menus. It’s best to use a project planning tool like Confluence — or at least a project plan template — to make sure you cover every aspect of the project. A simple project plan includes these elements:

• Project name, brief summary, and objective.
• Project players or team members who will drive the project, along with their roles and responsibilities.
• Key outcomes and due dates.
• Project elements, ideally divided into must-have, nice-to-have and not-in-scope categories.
• Milestones, milestone owners, and a project end date.
• Reference material relevant to the project.

Best Practices For Writing Effective Project Plans

A project planning process can quickly turn into a mishmash of goals and tasks that end up in chaos but these best practices can give you a framework to create a project plan that leads to success.

Use Other Project Plans For Inspiration

There’s no need to reinvent the wheel for every new project! Instead, look to other successful project plans for inspiration—and use them as a guide when writing the plan for your project.

“Review templates and plans for similar projects, or for other projects within your organization or industry, to get ideas for structuring and drafting your own plan,” says Yazdani.

To get started, use a Trello project management template and customize it for your project plan by creating unique lists and adding cards under each list.

Build your team’s ideal workflow and mark each stage of the project plan as a list, with cards for each task. 

Get Your Team Involved In The Process

You may be in charge of spearheading the project. But that doesn’t mean that you have to—or even that you should—write the project plan alone. 

“Collaborate with your project team and key stakeholders on crafting a project plan,” says Yazdani. “Input into the project plan supports buy-in to project goals and encourages continued engagement throughout the project.”

With Confluence , you can organize project details in a centralized space and build a project plan collaboratively.

Don’t Let Perfect Be The Enemy Of The Good

You may be tempted to write (and rewrite) your project plan until you’ve got every detail mapped out perfectly. But spending too much time trying to get everything “perfect” can actually hold up the project. So don’t let perfect be the enemy of the good—and instead of getting caught up in getting everything perfect from the get-go, stay willing and flexible to adjust your project plan as you move forward.

“Focus on outcomes, not plan perfection,” says Yazdani. “While it would be awesome for the first draft of our plan to require no changes while also inspiring our team and ensuring project success, our goal shouldn’t be a perfect plan. Our goal is a plan that allows us to successfully deliver on project goals. Responsiveness to changing needs and a shifting environment is more important than plan perfection.”

Use the right tools to succeed with your project plan

Writing a project plan, especially if you’re new to the process, can feel overwhelming. But now that you know the exact steps to write one, make sure you have the tools you need to create a strong, cohesive plan from the ground up—and watch your project thrive as a result. 

Atlassian Together can help with project planning and management with a powerful combination of tools that make work flow across teams.

Guide your team to project success with Atlassian Together’s suite of products.

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50 Best Business ideas Suitable for a School

By: Author Tony Martins Ajaero

Home » Business ideas » Education Industry

Do you want to start a business to raise funds and score high in your school project? If YES, here are 50 small business ideas suitable for a school project.

Schools require that students carry out projects at certain intervals as part of their overall assessment. Such projects can be carried out in varied subjects, and the students are more often than not allowed to pick a topic that interests them most.

The idea of profit and making money can spark interest in school projects from otherwise disengaged students that is why schools also organize business projects. Business projects can be used to teach students analytical skills, personal finance, the nature of credit and debt, incentives, economics and fiscal policies.

Many schools allow their students to come up with their own products/services, plan the materials and resources they will need, propose an allocation of expenses, project their profit based on a given budget, and advertise and sell their products/services. These projects may be done regularly, like once in a term or quarter.

Most of these ideas are brought about to teach children about money, making profits, and how to save. Experiencing how to save, spend, earn money and keeping a budget at the same time are great ways for kids to develop a grasp of economics at a young age.

In this way, they also develop a sense of responsibility and will find out early on the essence of spending money wisely and saving for emergency purposes in the future.

For the student with an entrepreneurial spirit who may wish to choose a viable and profit making idea for his school project instead of doing the usual research that is normally done by students, here are 50 that would be just great for a school project.

Best Business ideas Suitable for a School Project

1. make cookies.

Quite a lot of people love cookies. And not just cookies but deliciously baked edibles like cupcakes, pound cakes, pretzels and just about anything home-baked. When used as an income source, cookies and baked goods are easy to make, easy to transport and pretty easy to sell.

Kids can learn to find the best quality ingredients at the cheapest price and come up with ways to streamline the production process so the business requires minimal time investment. Get a handful of good cookie recipes, some cute, inexpensive packaging and start churning out delicious treats that will help line your pockets.

2. Jewelry making

Kids who have an eye for fashion or who love to be creative can find jewelry making a rewarding and profitable business. It doesn’t have to be complex pieces with semi-precious stones. Wooden beads, painted glass and hemp bracelets are hot sellers.

Designed pieces may be sold online or at local trade shows and church bazaars and even to fellow students. This is also a suitable business idea that can be continued after school.

3. Get artistic

A lot of students are very talented and creative. Such students can take advantage of such creativity to produce various things that can be used for a school project. Young artists can design a variety of creative pieces, from canvassed art work to hand-designed greeting cards, which they can sell to make money.

Additionally, you can offer Logo design, brochure layouts and web design for people and small businesses in the community. It is a fact that a lot of people are making a living from selling their artworks.

4. Greeting cards

Teachers could leverage on the talents of students by letting them produce and sell handmade greeting cards. Greeting cards generally employ several creative and technical skills – poetry, prose, visual art and layout. Whether one kid does it all or several kids work together to deliver the goods, a greeting card business in these days of ecards, text and emails will be especially valuable around the holidays.

5. Gift baskets

Assembling and designing gift baskets are a great way for kids to express their creative side while sharpening their ability to identify what the market wants and finding innovative ways to provide them. The contents of a gift basket are as varied as the people who order them.

Whether a child sells pre-made baskets or accepts orders for custom baskets, the business comes with natural busy seasons like Easter, Mother’s Day, Christmas etc.

6. Recycling project

Another idea is to start a neighborhood recycling center that can be run on the weekends from a local park or right from the family garage. Recycling is big in the united states and many people are making a living from it.

7. Make candy

Making and selling candy is another lucrative but cost effective school project. Students can test their entrepreneurial legs by deciding to sell snack-sized candies to their peers between classes or during recess at school. Though some schools may be critical about this, but once your teacher approves, then you are good to go.

8. MultiMedia Rental

As a teacher, you can turn one corner of your classroom into a mini multi-media rental place. You may ask the class to bring the books, magazines, computer and video games, audio CDs, and DVDs that they are willing to have rented out to the other students in the school. Then teach them to come up with a code for each kind.

For instance, books can be coded with the letter B. Tape appropriate codes on all the items and record them all on a master list.

This will let you keep track of which ones are rented out and which ones may be missing. Next, also make sure to remind the students to place a rental card at the back of each item, which the borrower fills out with his name, grade level, section, and contact number.

This card shall be left with your student. When all of these things have been prepared, then it is now time to fix them attractively on shelves with labels and advertise the venture to the rest of the school community. This is a good way students can make money, and it is also a good business idea in the outside world.

9. Photo Booth

One hip service that kids of all ages will surely love is the photo booth. If you have enough of a budget, you may rent a real one to use and just charge more for each photo, but if the class budget is low, you can choose to rent or borrow from someone.

An alternative way, though, is to set up a good digital camera and a huge backdrop tarpaulin with a cool design that can go with a theme.

Do not forget to provide tons of funny, cute, and trendy props, wigs, and hats. You can fix your rates to be on a “per copy” basis. After your photo booth time, guide the students in uploading all the pictures in a computer and print them out. Now they are ready for delivery.

10. Food Festival and Product Bazaar

You may want to have the students go through the process of not only planning but preparing the products by themselves. The easiest food items to make and sell are sandwiches , shakes, juices, burgers, French fries with various dips, and other simple snacks.

You may ask kids to prepare cooked ingredients at home and just bring them to school. Booths can be decorated and set up according to their needs, and kids should have a shifting schedule as to who will be the sellers at a particular time.

However, if there are only a few students involved in one booth, all of them can stay there the whole time and just have different roles assigned.

One can be in charge of the payments, giving of changes, and keeping track of the earnings. Two or three can be the ones to prepare the products. Another one can be in charge of calling customers or going around to give free tastes to people milling about the area.

11. Garage Sale

Another business idea that is suitable for a school project is a garage sale. You can plan and set up a garage sale in school. Have the students bring items from their houses that they do not like or use anymore. Together, you can decide on the prices of the various items which can range from clothes, books, CDs, games, to bags, shoes and accessories.

There are so many things that you can sell, just be sure to monitor the pricing so as to guarantee low prices appropriate for used items. The students can learn to approximate the worth, depending on the kind of item, how old it is, and its present quality.

A space should be set up in a classroom, in the gym, in the cafeteria, or wherever the school will allow you to which the students believe will be a strategically effective location for your business project.

12. Computer Tutoring

Chances are that you have been using a computer for as long as you can remember. You know how to troubleshoot, how to organize files, and how to use Google to find whatever you need. Though these are essential modern skills and not everyone possesses them.

Therefore, you have the opportunity to impart your knowledge by using this as a school project where you can educate fellow students on how to set up a blog, navigate the Web, or sign up for RSS feeds.

13. Pet Photographer

This is can make a very exciting school project for students. You can also start a photography business that specifically caters to pet owners who want photo portraits of their furry friends. They could pay a token for these services.

14. Shoe Shine

In order to take advantage of this business, set one day in a week where students can bring shoe polish and brushes for shoe shining services for the school community.

Promote this project on the bulletin boards all over the school announcing where the shoe shine will be stationed. You may also want to provide a “home service” in which the students offering the shoe shine will be contacted and will then go to a classroom or office to give the service at a certain time.

15. Mobile lemonade stand

In this project, students are made to make the lemonade stand mobile. That is, they prepare the lemonade at home, pack it in a cooler and transport it to where customers want it. Students should create advertising brochures, posters and cards to let the community know their lemonade can be served anywhere.

They must also keep track of overhead costs, such as bulk lemonade mix, ice, disposable cups and gasoline or other transportation costs.

They will need to make sure these expenses don’t exceed revenues. Once they set the price for a cup of lemonade, they can ask each client how many people will be in attendance at the given event, and then calculate projected revenues beforehand.

16. Pet sitting

Kids can be great with animals and can provide short-term walking, feeding and grooming for pets whose owners are out of town. Students should develop their business plan, they should determine how much they’ll charge: either a flat rate for a given amount of time, whether a weekend or a whole week, or an hourly rate that will be fair and competitive.

Have student’s research professional kennels and pet-sitting services in their area to get a good idea of rates. In their advertising efforts, have them specify what services they will and won’t perform.

17. Pie shop

Selling homemade pies is another great business idea for a student’s school project. The students could set up a stand in a busy part of town to produce fries and snacks.

This could be during their practical session class or a time set aside by the school board for students to showcase what they have learnt for a period of time. The likelihood of this idea being successful is very high, especially if adequate hype and publicity is created around it.

18. Websites

For their school projects, and depending on their level of learning, students could undertake to design websites for small businesses or fellow students who have the need of a website. Also, student can create websites for historical movements, scientific theories, or literary concepts

19. Album Covers

An album cover is the front of the packaging of a commercially released audio recording product, or album. Students can create album covers for their school project. The album cover may be connected to a novel and the art work might present a relevant theme in the story.

Another use would be to have students create natural disaster album covers in a science class where the cover would depict and explain the event.

20. Advertisements

Students can create an advertising campaign to sell a particular product or a range of products. The product can be real or imaginary.  This can be used to teach them persuasion, as an assignment for speech class, or to reinforce skills learned in a consumer class.

21. Magazines

Students can create magazines covering large units of study such as the Industrial Revolution or Darwin’s Theory of Evolution, that way many articles can be written. Images may also be drawn or printed and added to the publication. This is a good business skill that if developed properly would be useful after their studies. These magazines can be sold or booked on subscription basis.

22. Inventions

The ability to invent something would always count as a plus for the inventor. Inventing something is a very good school project idea that can also be useful in the business world. Students can be encouraged to think out and create something.

Note that it must not be a new invention as it could be an upgrade of an already existing invention, but it should be something that can address a problem in nature or society.

23. Autobiographies

Students can be encouraged to write the story of their lives as a school project. This assignment may help them learn to write an autobiography, and more importantly to reinforce a broad range of writing skills in them.

24. Comic Strips or Books

Students and kids read a lot of comic strips. Students can be encouraged to create an illustrated comic strip or book representing events from history or a work of fiction. They have a better chance of selling these to fellow students or friends.

Creating a blog is a great idea for a school project. Students can create blogs for literary characters or historical figures. They can equally take it a step further by creating an actual blog for free at blogger .com where they can start developing their own personal blogs.

Alternatively, teachers can just have students write and organize articles on white printer paper if the internet is not available.

Putting up a play is another exciting idea for a school project. Students might adapt an existing story or create original works and plays that can be centered on any event in history. The skills and experience gotten from this project, when developed and honed can be applied in the real world movie industry.

Some very talented students have the ability to create very funny and interesting skits. In the real world, people have been known to make a living out of creating skits. Students can be encouraged to create a short skit to bring a historical event to life for their school project.

28. Poultry Farm Project

Another profitable idea for a school project is to encourage students who are studying Agriculture related courses to setup a standard poultry farm as a project. The bottom line is to ensure that the poultry farm accommodates varieties of birds.

This kind of project can be expensive hence they can access funding from the school authority or any other relevant institution.

29. Furniture Making Project

Students who are studying woodworks or any furniture related courses should be made to produce furniture that can be sold to people. It is another way of making money for the school. The bottom line is that if their finishing and marketing skills are good, they won’t struggle to make sales.

30. Arts and Crafts

Creating arts and crafts is ideal for students studying various art and crafts related courses. Once your students are able to produce quality painting, sculpture or handmade crafts, such can be sold in and around the school community.

31. Vocabulary Quilts

For a school project, you can teach students to create quilts with badges representing the meanings of vocabulary terms. The badges should have an image and a few words. This school project can help the students develop sewing skills for the future.

32. Graphics and Video Editing Project

Another art related projects that you can engage your students in is to advertise for people to bring their graphics and video editing jobs to the school studio and they will get it done at rock bottom prices. The truth is that if your students are pretty good; the project can be self-sustaining.

33. Make f riendship bracelets

Kids love making jewelry, and with inexpensive technologies like Rainbow Loom, they can produce substantial amounts of bracelets and offer them for sale. Making friendship bracelets, matching colored pairs or even embedding letter beads for names or phrasing will differentiate their product.

Explain profit margin and have them set a reasonable price for each bracelet above their raw material costs. They also need to research venues where they can sell the bracelets, such as local craft shows, community meetings or boutique shops.

34. Smartphone consultation

Students can tap into the emerging tech market by selling smart-phone consultation services. Your students will likely be more adept at handling smartphones, including basic operation and social media, than most adults.

Have them set a basic package for clients, such as a 30-minute tutorial, during which they will provide hands-on instruction and demonstration of someone’s phone. These tutorials can be offered for a flat rate. Students can advertise their services through social media, targeting their parents’ friends and other adults who may be struggling with new technology.

Students should specify what they’ll be covering in their tutorials so clients come prepared. Make sure students perform their services in safe, public places, such as in the school library or other community venues.

35. Errand Runner

The more people are pressed for time, the more they hate running errands. Therefore, you can start a business to run errands for those sets of people. For instance, you can pick up groceries, take the dog to the vet, pick up kids from daycare, and chauffeur older kids to the mall or to a friend’s house.

You need to be a jack-of-all-trades, but it is actually rather easy work, and it pays well. Seniors, upper-middle class families, and busy parents are all part of this target market. The student may or may not need a reliable car depending on the neighborhood, since it is a small school project, but a car would come in very handy.

You might also want to consider offering a “seniors discount” to get your foot in the door, or even working for free for the first few jobs in order to get some great testimonials.

36. Moving Assistant

Moving is stressful, especially when you have a lot of possessions or a large house to organize. A student can comfortably offer up services as a moving assistant to give people a hand. This is a popular service, especially for seniors who find packing and moving to be physically and emotionally difficult.

37 . Babysitter

One of the most popular part time jobs for students is babysitting, and this business can comfortably be taken up as a school project.

All you need is a great reputation or great references, and the ability to find local parents. Post fliers in your neighborhood advertising your services. Keep in mind that if you have special skills, such as CPR training you will stand out from the pack.

38. Scrapbooker

This is another exciting idea that students can use for a school project. The students can offer custom scrapbooking services to people who want to preserve their memories in a special way without doing the work themselves.

39. Home check

You can request to make or perform home checks for a small fee. While people are out of town, you can stop by their house and check to make sure the house is in good condition, give it a lived-in look, check light bulbs, flush toilets, and more. It is quite easy and can be done weekly for a flat fee, such as $20.

40. Leaf Removal

Leaf removal, just like snow removal, is a seasonal business, but that notwithstanding, it pays good money and it can also be used as a school project. During the fall, because of the leaf rain, you can offer leaf removal services to those who don’t want to rake their yards on their own.

41. Calendars

Students can take up creating calendars charting the dates of key events. This can be applied to an historical event (like a famous battle), a scientific event or the sequence of events in story. With the aid of good graphics design or drawing skills, the calendars can be made to be very attractive and colourful in order to bring in buyers or subscribers.

42. Snow Removal

If you want to earn some extra cash during the winter months, you can offer to shovel snow for local homeowners for a small fee. This business can be comfortably offered as a school project as it won’t take up much time of the students, and more importantly, they would get paid for it.

43. Personal Shopper

For those who enjoy shopping, you can build a business as a personal shopper and help others pick out the best items for them.

Students can also use this business idea as a school project. To get started, you need to figure out your demographics which may likely be seniors or people who are fashion handicapped and offer this service to them at your convenience and for a fee.

44. Picking up dry cleaning

You can decide to run to the cleaners for those who are too busy to handle this chore. This is a business idea and it can as well pass for a school project if you have a question you want to find an answer to or if there is a problem you are seeking to find a solution to. Example, what is the demographics of people who mostly request laundry pick up services?

45. Create a board game

There are lots of board games in the market and online, but that notwithstanding, you can create a board game for a school project, and if it is interesting, people would be willing to pay a token to play it. Putting the game online can save you on overhead costs. This project demands a lot of creativity before you can come up with something passable.

46. Graphic Designer

Depending on the class and if you have the skills, graphics design is a great business idea that could also be used for a school project. You can offer your services designing logo for both online and offline clients, but you have to make sure that you are very good at it.

47. Documentary

Some students who have portable camcorders could put it to good use for a school project. With adequate planning, preparation and skills, you can put together a documentary on any niche of your choice. You can record a documentary on the difference between how football was played in the 70s and today, or you can put together a video recording of how plants or animals behave in an unfamiliar environment.

48.  Aquaculture

An agriculture related project that can be given to students to do in a school in a bid to raise money is starting a fish pond.

The school authority can provide space for students to build their ponds. The students can choose to raise fish, shrimps, crabs, toads etc. in their ponds in a controlled environment. Aquaculture is a very profitable business in the real world so any training on it is very valuable.

49. Chemical Production Project

Students studying chemical engineering should be made to produce chemicals that can be sold in an around the school communities as part of their projects. Chemicals like pesticides, bleach and paints etc have a good number of buyers. The truth is that if their product is well branded and packaged it can compete for market share in their community.

50. Hatchery

Students can set up a mini hatchery where they can attempt to hatch the eggs of different birds to observe the process. They can equally decide to innovate a special brand of hatchery that is unlike the normal one used in the industry, or try to replicate the natural hatching process. A lot of findings still can be made from hatchery and the students can try to discover them.

Related Posts:

• How to Start a Boarding School Business
• 50 Best Book Business ideas You Can Start Today
• How to Start a Voice Talent Training School
• How to Start a Broadcasting Training School
• How Much Does It Cost to Open a Publishing Company?

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Business Plan Examples for Students

Ajay Jagtap

• December 29, 2023

26 Min Read

Do you know what’s the most common mistake students and rookie entrepreneurs make while preparing their first business plan?

Of course, it’s the first business plan we’re talking about; there’ll definitely be a few. However, overcomplicating things and failing to consider a business plan example still remains the most common one.

That’s why we decided to come up with a solution. We’ve curated this list of top business plan examples for students to help you get going.

So whether you need a business plan for a college project, start a side hustle, or win a business competition, these examples are just what you need to create business plans that stand out.

Ready to dive in? Let’s start by understanding the key elements of a business plan example:

Key Elements of a Business Plan Example

Business planning is not as complicated of a process as people think it is; they’re just overcomplicating things. (Don’t think so?)

Let’s simplify the key elements that make up a comprehensive business plan; you’ll understand it better that way.

Executive Summary:

Company overview:, market analysis:, products and services:, sales and marketing strategies:, operations plan:, management team:, financial plan:.

That’s pretty much it about the key elements of a business plan example. Next, let’s explore the best business plan examples for students.

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Top Business Plan Examples for Students

Now that you already know about the components of a business plan template, let’s review some of the best business plan examples for students.

1. Startup Business Plan Example

Upmetrics’ startup business plan example is the ideal solution for students planning to start up or participate in a business plan competition. This business plan template follows the SBA-approved business planning format used by thousands of successful entrepreneurs.

Whether your startup is about a new-age AI-based application, an online shopping site, or traditional IT consulting—this sample business plan is just what you need.

Unlike any traditional small business plan, this example of a startup business plan is lean and agile in approach, focuses on innovation, and emphasizes market validation.

2. Lean Business Plan Example

Since you’re transitioning from a student to an entrepreneur, you may not have enough time to spend on creating a detailed business plan. That’s where this lean business plan template can help.

It’s a condensed version of a traditional plan summarizing all its sections with a primary focus on covering only the critical aspects of the business.

This template is best for startups or businesses uncertain about business planning and student-turned-entrepreneurs with limited time and resources to prepare a business plan.

3. SBA Business Plan Example

Following an SBA-recommended business plan format is key to securing bank loans and business grants. Since it can be time-consuming to find a template that follows a similar outline as the SBA, this SBA-approved business plan example is the way to get started.

This SBA business plan template has nine primary sections, that include executive summary, company description, market analysis, organization, product description, marketing, funding request, and financial projections.

SBA business plan examples ensure you stay on track and don’t deviate from your funding needs.

4. One-Page Business Plan Example

As you may have already guessed, a one-page business plan is a one-page version of a traditional business plan. Since it’s a condensed version of a business plan, drafting it can be quite easy and quick compared to a lean or traditional plan.

Employees, partners, and vendors often use one-page business plans as a quick overview of your company and banks and investors as a summary of your operations.

While it may not be the ideal choice for entrepreneurs seeking investment or bank loans, students with side hustles and idea-stage startups can consider this option.

5. HBS Sample Business Plan

Harvard Business School’s new venture competition selected this sample business plan as a finalist in 2011.

This is a business plan of App Success, a collaborative web-based platform that connects low-income high school seniors with college students from top universities; this business will enable them to collaborate on college selection, college applications, and financial aid applications.

This example can be a great reference for those planning to start a mobile or web-based solution.

6. Kean University Sample Business Plan

Kean University organizes a business plan competition every year for its students where students prepare and present business plans to compete, and this is one of the sample business plans the University provides to participants to understand the format.

It’s a business plan of Blue Water Boatworks, Inc., a boat detailing and cleaning company specializing in servicing recreational fiberglass and aluminum watercraft.

This example can be a great reference for those planning to start a business related to housekeeping, cleaning, or maintenance.

7. UVM Sample Business Plan

If you are looking for a strategic business plan for a food business, the University of Vermont’s Fancy Foods Business Plan can be a guiding resource for you.

Despite the fact that it can be a good reference for detailed planning, it was written in 1998, so any statistics and numbers may not seem relevant to today’s market landscape. Make sure you keep that in mind.

You may closely follow this example as a reference if planning to start a food truck, restaurant, or any other business that serves food.

That was the list of best sample business plans for students. However, there’s more to talk about. You now have a business plan example, but what about pitching to investors? Let’s explore free pitch deck examples for students.

Free Pitch Deck Example for Students

Pitching to investors as a first-time founder can be exciting but also overwhelming at times. Worry not; we’ve got a solution—investor pitch templates. We’ve prepared a set of 8 investor pitch templates and examples for students and entrepreneurs to help create winning business pitches.

Whether you need a pitch to find an opportunity, ask for subject matter knowledge, or a problem-solving pitch, these investor pitch examples have got you covered. Download now.

How to write a winning plan for a business plan competition?

Creating a business plan is no different than creating one for a real business. Similar to how entrepreneurs prepare and present business plans to investors, Students in business plan competitions pitch to judges.

In short, the business planning process remains exactly the same. Let’s discuss how you can write a winning plan to help you win a business plan competition.

• Select a compelling business idea : everything starts with a compelling idea. Make sure you have a viable business idea to compete in the competition.
• Refer to winning business plan examples : Once you are sure about your business concept, refer to business plan examples from previous winners and how they planned the sections of their plan.
• Market Research & Industry Analysis : After referring to business plan examples, conduct industry research and market analysis to make your statistical and financial numbers accurate and realistic.
• Understand business model and revenue streams : Since you are preparing a business plan for a company that doesn’t exist, be sure about the business model and how the business will generate profit.
• Use AI business plan generator : Using an AI business plan generator like Upmetrics can be incredibly helpful in speeding up the business planning process. With industry-specific business plan templates and AI assistance to write your plan, you can write the first draft of your plan in literally no time.
• Presentation and visuals : Prepare visuals and graphs to make your business plan visually appealing and numbers digestible. You may not need to prepare these visuals if you use business plan software manually.
• Proofread and edit : Grammatical errors are the last thing judges want to see in a business plan. Make sure you proofread and edit your draft thoroughly before submitting it.

Easy as that, that’s the way to write a perfect business plan that can lead you to victory in any business plan competition on planet Earth. Let’s have a look at a real-life business and financial plan example.

Business and Financial Plan Example for Students

Having learned about business planning for students, let’s quickly discuss a coffee shop sample business plan and financial statements prepared using Upmetrics.

1. Executive Summary

The Cooper’s Cup will be a new cafe in Phoenix, Arizona. The 1,500 square foot café will be located in the newly constructed Market Square Plaza on the northeast corner of 135th Street and Mission Street. The anchor tenant, the Price Chopper grocery store, has already taken occupancy, and the excellent location brings more than 10,000 shoppers weekly.

The Cooper’s Cup, aptly named for the aromatic brown liquid that will fill the cup, fills the void of original cafes in the market and stands out from its corporate peers with its fast food concepts and prompt services. The Cooper’s Cup is the alternative to fast food/commercial/coffee shops and offers a much calmer, civilized gourmet coffee experience.

There are no televisions in the cafe, the background music is subtle, and work from local artists will hang on the walls. The restaurant is well-appointed, with overstuffed leather chairs and sofas in a library-like setting. The cafe is reminiscent of times gone by – yet is cutting edge technologically with WIFI and state-of-the-art espresso machines.

The Cooper’s Cup measures its financial success in terms of increased market share and earnings. This is a tremendous opportunity with a total local market of $54 million! The keys to success will be offering quality gourmet coffees, taking advantage of its small size, and relying on an outstanding barista staff.

To achieve these goals, the cafe will present some of the area’s finest gourmet beans from local distributors. Because of its small size, the restaurant can enjoy larger margins through lower overhead. The cafe will hand-select baristas and offer salaries comparable to the chains. The baristas will be trained to cross-sell and sell higher-margin products.

The primary objectives of the business plan for Cooper’s Cup are below:

• To increase revenues by $36,000 or 5% in Year 2 and $73,000 or 10% by Year 3
• Achieve a profit margin of 5.2% in Year 2 and 6.90% by Year 3
• Be the Cafe of Choice in the Phoenix area and the recipient of the Best Coffeehouse Award.

Guiding Principles

The Cooper’s Cup is committed to values such as excellence, passion, quality, integrity, and leadership, allowing them to navigate challenges and provide for future opportunities. These core beliefs start with their commitment to their products and their employees. Cooper’s Cup rewards excellence and cherishes loyalty. The cafe will work with its employees to build strong businesses and a secure future.

Mission statement

The Cooper’s Cup is committed to its products and employees, which they believe is the recipe for market success.

Key to success

The Cooper’s Cup stands out from the competition. Below are their Keys to Success:

• Great Products : providing exemplary products at market prices – will make customers want to return again and again.
• Hire Quality Baristas : Pay employees rates similar to the larger chains with opportunities for long-term careers and opportunities for advancement with long-term plans to open a second facility.
• Convert Customers to Connoisseurs : Only 40% of the nation’s coffee drinkers consume premium ground and whole bean coffee – this will aid in the continued growth.

Financial Summary

2. Business Overview

The Cooper’s Cup will be a coffee house/cafe located in Phoenix, Arizona. The cozy cafe will be located in the newly completed Market Square Plaza in the Arizona City area. The cafe will serve gourmet coffee, espresso, drip coffee, lattes, and smoothies. The simple pastry offerings may vary with seasonality, but the primary line will be muffins, bread, cookies, scones, and rolls. All pastries will be supplied daily by a local bakery.

The cafe will be owned and operated by Owen Jones, a veteran restaurateur with several years of experience running and managing chain restaurants. The cafe will be open for business Monday – Thursday 7-10, Fridays and Saturdays, 7-11, and closed Sundays.

The Cooper’s Cup will be formed as an S-Corporation owned by Mr. Doe.

Start-Up Summary

The Cooper’s Cup will have seating for 40 patrons. The rent is $2,075 a month, with a three-five-year lease available. The site comprises 1500 square feet of leased space consisting of a dining room, a coffee bar, two restrooms, and a storage room in the back.

This storefront needs to be plumbed and wired appropriately to be used as a restaurant. Painting, new floors, and countertops are also needed. A custom coffee bar needs to be built. With materials bought on sale and volunteer labor, the cost to renovate will be $71,725.

The coffeehouse equipment will consist of two commercial espresso machines, air pots and urns, a commercial blender, a commercial brewer, top-loading coffee bins, barista syrups, cold drink dispenser, frothing equipment, a commercial refrigerator, microwave, and stainless steel prep bar.

The cost of the equipment is $38,275. The furniture will consist of leather couches and chairs (purchased at auction), coffee tables, bookcases, and window treatments. The artwork will come from local artists and be sold on a consignment basis. The books were secured via donations. The total cost to furnish is $14,000. Other startup expenses will be dishes, furniture, rent deposit, and marketing.

Location and Facilities

The new coffeehouse is located in the highly desirable Phoenix, Arizona, area at the northeastern intersection of 135th Street and Mission Street in the Newmarket Square Plaza. The property is situated in an excellent location, with an easy 6-minute drive time to I-435 and 69 Highway. 

The property is 95% leased with Price Chopper as the Anchor Tenant. Other tenants include LifeSpring Med Spa, Jane’s Canines (Pet Store & Boarding), Pride Cleaners Kahn Dental, and Swim U. 

Price Chopper brings more than 10,000 shoppers per week to the center. The location comprises a population of 9,420 within a one-mile radius, 61,102 within a 2-mile radius, and 149,550 within a 5-mile radius – with a median household income of $120,856. Sprint / Nextel’s corporate office is within 2 miles of the site.

3. Market Analysis

Phoenix, Arizona, is an award-winning place to live and work and is considered the leading business community in the Midwest. National publications and organizations recognize Phoenix for its business environment and livability. Here’s a sampling: 6th Place, America’s Best Places to Live Money, Top 50 Cities to Live and Play, National Geographic Adventure, 3rd Hottest Town in the U.S., Money, Among 20 Best Places to Live & Work Employment Review, One of only 72 Sterling Tree Cities in the U.S., National Arbor Day Foundation, Top 10 best Locations to Raise a Family, Southern Business and Development, 1st Place, Kid Friendly Report Card, Population Connection, 2nd Best City in America to Live Business Development Outlook.

Phoenix is at the core of one of the most dynamic local markets in the U.S. It offers easy access to the Arizona City region’s amenities, and, as part of the Arizona City metropolitan area, it is within the most centrally located major market in the nation. I-35, I-435, I-635, and U.S. Highway 69 all pass through Phoenix, and no point in the city is more than 3.5 miles from a freeway. The city maintains an excellent arterial street network and plans to construct additional lane-miles as the area grows. Three airports serve the region. Arizona City International Airport (MCI) is just 25 interstate highway miles north of Phoenix. Johnson County Executive Airport—the second busiest in Arizona—provides complete services for private business jets and general aviation. New Century AirCenter, just 12 miles southwest of the city, offers available aviation services and accommodates cargo or passenger jets of any size.

Phoenix supplies some of the most highly educated workers in the nation, with 97% of Phoenix adults over age 25 holding at least a high school diploma. Johnson County, where Phoenix is located, ranks first among the country’s 231 counties with populations greater than 250,000. The county ranks sixth in the percentage of adults with at least a bachelor’s degree and 16th with a graduate or professional degree.

The Phoenix area has a population of 175,265, based on the 2010 census. The median household income is $77,881, and the median age is 37.9. (2010 U.S. Census)

Industry Analysis

The U.S. coffee shop industry includes about 20,000 stores with a combined annual revenue of about $10 billion. Major companies include Caribou Coffee, International Coffee & Tea (The Coffee Bean & Tea Leaf), Peet’s Coffee, and Starbucks. The industry is concentrated: the top 50 companies generate more than 70 percent of sales. Coffee shops are part of the specialty eatery industry, including retail outlets specializing in bagels, donuts, frozen yogurt, and ice cream products. (First Research)

Competitive Landscape

Consumer taste and personal income drive demand. The profitability of individual companies depends on the ability to secure prime locations, drive store traffic, and deliver high-quality products. Large companies have advantages in purchasing, finance, and marketing. Small companies can compete effectively by offering specialized products, serving a local market, or providing superior customer service. Specialty eateries, which include coffee shops, are labor-intensive: average annual revenue per worker is about $50,000. Coffee shops compete with convenience stores, gas stations, quick service, fast food restaurants, gourmet food shops, and donut shops. (First Research)

Market Size

The U.S. coffee shop industry includes about 20,000 stores with a combined annual revenue of about $10 billion. Major companies include Caribou Coffee, International Coffee & Tea (The Coffee Bean & Tea Leaf), Pet’s Coffee, and Starbucks. The industry is concentrated: the top 50 companies generate more than 70 percent of sales. (First Research)

Target Market and Segment Strategy

Most adult coffee drinkers said their lifelong habits began during their teenage years. 54% said they began drinking coffee between 13 and 19. Another 22% reported their coffee cravings started between 20 and 24. This means that 76% of adult coffee drinkers began drinking coffee by the time they were 24. So, despite a large amount of marketing and advertising directed at the younger age groups, savvy coffee shop owners will remember to cater some of their offerings to the adult and senior market. (National Coffee Drinking Study).

The Cooper’s Cup will offer a unique experience for coffee enthusiasts by providing a quiet, cozy, yet sophisticated cafe and a sense of refinement and peace in an otherwise hectic and fast-paced world. While other coffee shops cater to convenience with drive-throughs or loud music venues late into the night, the Cooper’s Cup will stand apart from its competitors with its quiet yet soothing ambiance, capturing a truly unique (and much-needed) market niche.

• Unique products (specialized roasts, local ingredients, locally-themed or named drinks, custom drinks by the star barista, etc.)
• Games, puzzles, mind benders, and other activities that encourage customers to linger over their coffee
• Hosting or sponsoring local events (entertainment, readings, book clubs, etc.)
• Using technology to creatively compete in marketing with big chains — services like FourSquare, Yelp, and Google Places can increase visibility in the local market.
• Delivering amazing service from knowledgeable baristas — spend lots of time training staff and utilizing online services like the American Coffee & Barista School.
• Selling coffee-related items (and tracking down any co-marketing opportunities with a local community college or another student-related group in the area)

4. Products and Services

Product/services descriptions.

The Cooper’s Cup’s primary offering is gourmet roasted coffees with mocha, carmelicious, white mocha, candy bar latte, and brewed coffee. Complementing the coffee will be a smoothie line including wild berry, strawberry, peach, mango, and lemonade. Rounding out the simple menu line will be pastries obtained from an outside supplier, freshly made and delivered daily. The pastry offerings may vary with seasonality, but the primary line will be muffins, bread, cookies, scones, and rolls.

Product/Service Sourcing

The Cooper’s Cup has negotiated supplier agreements with several local food-service wholesalers and coffee wholesalers in the Phoenix area that have a reputation for quality and reliability:

• Mean Beans Coffee Roasters
• Phoenix Brewers
• Healthy Harvest Bread Co.
• Mary’s Organics

If one of the abovementioned specialty suppliers cannot meet their needs, the following national suppliers can provide all the food-service products they require. In addition, the following wholesalers will supply the cafe with general restaurant supplies:

• Lawrence Food Products Corp.
• Gerry Food Supply Inc.

Future Products/Services

Young families, which comprise Phoenix’s third largest market share, are often overlooked in the coffee market. Coffeehouses traditionally have not been considered ‘kid’ friendly. To overcome this hurdle, Cooper’s Cup has long-term plans (5 years) to open a 2nd coffee shop: A combination indoor play area/coffee bar. This concept allows parents and caregivers to meet and relax with other adults while the children can enjoy the indoor playground amenities.

Additional future services will include in-store sales for home purchases and an online store.

The website will have the option to purchase a prepaid gift card program – Prepaid gift cards provide immediate cash, reduce credit card transaction charges, and draw new customers to the business.

5. Sales and Marketing Strategies

Swot analysis.

Unique Selling Proposition

The Cooper’s Cup stands out from a crowded sea of coffee chains and franchises. What sets it apart from the competition is primarily its smaller, cozier size combined with premium coffees served by knowledgeable baristas, providing so much energy and enthusiasm for its products.

Market Strategy and Positioning

The Cooper’s Cup utilizes a focus strategy on its Market. By specifically targeting three primary segments, they can cater specifically to their needs.

Senior Market (age 45+)

The Cooper’s Cup will target this Market simply by its well-selected location. Although this demographic group could readily drive downtown, they prefer a local cafe to unwind and relax and historically become some of the most loyal patrons.

Newly Hired Employees

The cafe will attract regular customers (weekly or more) – particularly the newly employed (first job) by providing free WIFI services and providing interesting games in the customer area.

Young Families

The third targeted Market, younger families, often find that coffeehouse is not ‘kid’ friendly. The company has long-term plans to create a combination coffee shop/play area so that parents and caregivers can meet with other adults while the children can enjoy the bounce houses, slides, and indoor playground equipment.

Pricing Strategy

The Cooper’s Cup primarily utilizes competition-based pricing. The cafe does not utilize coupons and discounts (other than opening promotions) because they believe that the most valuable customer demographic of daily coffee consumers is not influenced by discount programs or coupons.

Promotion and Advertising Strategy

• Online Advertising – The Cooper’s Cup will advertise regularly on popular social media sites like Facebook. Compared to traditional print advertising, this is a cost-effective tactic that will allow them to reach prospects in a highly targeted way (e.g., based on criteria such as age, gender, geography, etc.).
• Website – Cooper’s Cup will develop a simple Web site, which will provide basic information about the business, the menu, and links to their presence on the aforementioned social media channels.
• Radio Advertising – During the first six months of operation and the busy holiday shopping season, the business will advertise on local radio stations.

Sales Strategy

The Cooper’s Cup will use the following methods to increase sales revenue (as recommended by Andrew Hetzel on Better Coffee, Better Business):

• The menu will focus on the most profitable products sold. The cafe will always draw customer attention to the best products.
• As warranted, the cafe will raise prices to bolster its brand image. Prices communicate the perceived value of a product, so if set too low, the customers might assume that the beverages are inferior compared to the competition.
• Monitor flavoring inventory – Excess flavoring inventory ties up capital and valuable backroom space for storage. The cafe will utilize 4-6 varieties, including sugar-free offerings.
• Control waste and theft – audit sales and inventory reports to evaluate ingredient waste due to inefficient preparation, returned drinks, and employee consumption. Retail locations can easily waste 20% or more of their daily sales in these three key categories, which is a substantial and unnecessary loss.
• Monitor and evaluate hours of operation.
• Run employee sales contests – The baristas are the salespeople and have great influence over the customer ordering process. All baristas will have some form of sales and customer service training to make each transaction active rather than passive. Sales contests will emphasize high-margin items or cross-selling.

6. Operations Plan

Staffing and training.

An ongoing training and education program will ensure that each staff member learns and implements Cooper’s Cup’s exacting service and operational procedures standards. Staff meetings will reinforce service standards and principles. The Cafe will have detailed work descriptions and training programs for each position, from entry-level employees to the ongoing development of managers and owners. New employees will undergo an extensive training program. This ensures that each guest receives a quality experience from all employees, regardless of how long they have been employed. The Cafe embraces the concept of promoting from within. Excellence in one function typically leads to excellence in another. Regular staff evaluations and training will ensure motivation and address critical issues.

Inventory controls

The founder will be responsible for hiring and training managers who, in turn, will ensure that the day-to-day operations will comply with the standards set by Restaurant policy. Weekly management meetings will provide a forum to review and discuss financial and operational performance. Critical decisions related to purchasing, human resources, marketing, capital expenditures, and customer service will also be addressed.

Purchasing cost controls

Food preparation personnel will follow standardized recipes developed by the founders to control food costs and ensure consistency. The coffee shop will offer an innovative menu with nutritious food and beverages while achieving the most significant margin yield.

Customer Service

The hospitality business recognizes the client’s support experience is the critical driver to replicate business. The direction will Offer a superior degree of Professionalism by hiring individuals who deliver the ideal attitude to work and teaching them the skills required to accommodate guests. The restaurant will keep high levels of consumer satisfaction with talented, educated, and well-trained workers who understand and implement the fundamentals of fantastic service. Ongoing training will be provided to enable staff to perform their jobs with confidence and ability. Employees are well-spoken, well-versed, and trained to provide friendly, prompt, and professional service to each customer. This practice teaches employees who, by producing an exceptional customer experience, can optimize sales and raise their reimbursement. The team will have the knowledge and service required to create excellent daily service for every customer.

Technology & Software

While the quality of the cuisine and dining experience contributes significantly to a restaurant’s profitability, attention to business and financial details can transform small changes into significant returns. Critical sales, cost of sales, labor, inventory, marketing, and overhead metrics are monitored daily. Trends are evaluated, and constructive actions will be taken where improvement is needed. The management team will have access to the restaurant’s transactions and reports available in its real-time POS (point of sale) and accounting systems. Trends will be evaluated, and corrective action will be implemented as required.

7. Organization Structure

The Cooper’s Cup is formed as an S-Corporation wholly owned by John Doe.

Management Team

The Cooper’s Cup will be owned 100% by John Doe. Mr. Doe, a graduate of Arizona State University, has an undergraduate degree in business administration. During high school, he worked as a waiter in a local hospital coffee shop that purchased its beans from a local roaster. In addition to being an avid coffee drinker, this job allowed him to learn about the business first-hand. In college, Doe worked in a campus coffeehouse for four years, eventually becoming an assistant manager. Following graduation, Doe secured a business development position for a regional restaurant chain, which provided additional first-hand exposure to the food and beverage industry—especially the steps involved in establishing new locations.

Management Team Gaps

The Cooper’s Cup will rely on its POS (Point of Sale) system to generate daily accounting and cost activity reports. Mr. Doe will supply these to an outside bookkeeper for the preparation of annual income taxes.

Personnel Plan

Initially, the cafe will hire 1 manager, 5 baristas, and 2 part-time servers. In Year 2, the cafe plans to hire 1 additional full-time barista.

8. Financial Plan

Important assumptions.

• The sales forecast is conservative and assumes a 5% increase in Year 2 and a 10% in Year 3.
• The analysis accounts for economic seasonality – wherein some month’s revenues peak (such as holidays ) and wane in slower months.
• The analysis assumes the owner will not withdraw any salary till the 3rd year; at any time it is assumed that the owner’s withdrawal is available at his discretion.
• Sales are cash basis – nonaccrual accounting
• Moderate ramp-up in staff over the 5 years forecast
• Barista’s salary in the forecast is $36,000 in 2023.
• In general, most cafes have an 85% gross profit margin
• In general, most cafes have a 3% net profit margin

Projected Balance Sheet

Projected Cash-Flow Statement

Projected Profit & Loss Statement

Break Even Analysis

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Frequently Asked Questions

How do you write a business plan for a college project.

As mentioned earlier in the article, business planning for a college project or competition is no different than for a real business. You can write your business plan using these step-by-step instructions.

• Select a compelling business idea
• Refer to business plan examples
• Prepare a business plan outline
• Create a company description section
• Conduct market research and industry analysis
• Describe your product and services
• Outline sales and marketing strategies
• Create an operations plan
• Introduce management team
• Prepare financial projections
• Summarize your plan with an executive summary

What is a business plan for students?

A business plan is a necessary business document that highlights its purpose,  business goals, product/service offerings, go-to marketing strategies, operations and financial plan, key people involved in the business operations, and other necessary details.

As a student, consider a business plan example as a document that helps you better understand business and industry dynamics and learn how a business operates inside out.

What is a business plan competition for students?

Business plan competitions are competitions mostly organized by universities for students passionate about entrepreneurship and the business world. These competitions offer students a platform to showcase their entrepreneurial skills while also providing opportunities for mentorship and networking.

How can I increase my chances of winning a business plan competition?

There cannot be a straightforward answer to this question, but there’s surely a method that can increase your chances of winning a competition—Using AI-powered business plan software.

Why? An AI tool will make you 10X more productive while writing a business plan and preparing financial forecasts. So you can spend more time researching the market and brainstorming business ideas.

Where can I find more business plan examples for students?

Upmetrics’ library of 400+ business plan examples could be an incredible source for students to find more industry-specific business plan examples. There are examples for almost every small business category, including real estate, retail, entertainment and media, food & beverages, and more.

About the Author

Ajay is a SaaS writer and personal finance blogger who has been active in the space for over three years, writing about startups, business planning, budgeting, credit cards, and other topics related to personal finance. If not writing, he’s probably having a power nap. Read more

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20 Business, Economics, and Finance Research and Passion Project Ideas for High School Students

By Jordan Ellington

Project Support Manager at Polygence

By Alex Armstrong

MBA from the Tuck School of Business at Dartmouth

By Alex Yang

Graduate student at Southern Methodist University

16 minute read

Do you want to start or run your own business? Are you interested in the world of financial markets? Or maybe you’re interested in learning more about why the cost of eggs is so high right now? Either way, business and economics are some of the most popular majors in college, and to get a head start in learning about them is a great way to explore your interests and show colleges that you’re taking initiative.

Learn more about the fields of business, finance, and economics through a project of your own!

This list of 20 research and passion project ideas can provide inspiration to help you get started. These are mostly rough ideas and suggestions; you can shape your project in any way that you want and decide on the final deliverable.

If any of these topics pique your interest, or you have another idea you want to explore, sign up to get matched with a mentor and begin your Business, Economics or Finance project!

Get Matched with Leading Business Mentors

We feature mentors from all parts of the business world, including marketing, finance, and entrepreneurship. Explore our Business mentors, their areas of focus, and potential project ideas!

Why Should You Consider Doing an Economics, Finance, or Business Passion Project?

Engaging in an economics, finance, or business project during your high school years offers numerous benefits and opportunities for personal and academic growth. Here are some compelling reasons to embark on such a project:

Explore Your Interests: Dive into the world of business and economics to discover your passion and interests in these fields.

Gain Insight: Understand complex economic issues, financial markets, and real-world business dynamics.

Boost College Prospects: Demonstrate initiative and dedication to colleges through your independent project.

In summary, doing an economics, finance, or business project provides you with a platform to explore your interests, develop critical skills, and make a meaningful contribution to your field of study. It's a valuable experience that can set you on a path to success in college and beyond.

11 Economics Research and Passion Project Ideas

1. analyze an economic issue of your choice.

Learn to think like an economist! First, you will choose a topic that interests you (e.g., inflation, gender, poverty, education, international trade, financial markets). You will then do some preliminary research into the basic principles behind the topic, like understanding why inflation happens and whether it’s good or bad. While doing your research on your topic(s) you will gain an understanding of the structure that economists follow to analyze your chosen phenomena. Then, as you gain a better understanding of your topic, you can start to dive into more cutting-edge research about the topic.

Idea by Economics research mentor Michael 

2. Follow the economy

Gain a better understanding of our current economy! Even if you watch the news and keep a close eye on what’s happening in the world, it can be difficult to understand if you’re not familiar with economics. Certain things seem to be happening in the world of economics but what causes them and what effects do they have on our livelihood? Start this project by learning the basics of economics. Once you gain a better understanding, take a deeper dive into our economy today! Read some recent news articles (e.g., the Wall Street Journal) to learn more about the current state of the economy. Then, based on what you’ve learned from economics basics, what do you think the government should do about it?

Idea by Economics research mentor Taylor   

3.​​ Comparative tax policy

Conversations that revolve around taxes are never particularly fun! Especially if you’re filing them. But if you’ve ever wondered how tax policies affect businesses or why tax rates vary from state to state or country to country, it’s time to do your research! Learn more about how taxes create trade-offs in our economy and affect economic growth, and the various taxation strategies (e.g., flat rate vs. progressive). Then, write a policy memo on why the U.S. should or shouldn't follow other developed countries in adopting a value-added tax (VAT).

Idea by Economics research mentor Anthony

4. Gender economic inequality

Have you ever noticed that there are certain occupations where mainly women seem to be hired? Most of these positions fall within the realm of the service industry, including social work, healthcare, and hospitality, so because of this, women have been disproportionately impacted by the pandemic. If this is a topic that you’re passionate about, you might look into how the pandemic has impacted female employment. You can also look at other topics like how the gig economy has influenced women’s work opportunities. This Gender Inequality in the Workplace article is a good source of inspiration for other specific issues to dive into.

Idea by Economics research mentor Kristen  

5. Apply a nudge!

Appearance is everything! In fact, you are likely to pick a specific food item off of a shelf or at the cafeteria because of how it’s positioned. This entire concept of positioning, designing, or phrasing something to make it more intriguing to customers is called a “nudge”. They appear everywhere in our daily lives (learn more about the concept of Nudge Theory ). But just how effective is nudging? Put this question to the test by applying a nudge experiment around your home, school, or neighborhood to see how this impacts others’ spending decisions. You can decide what kind of “nudge” you want to apply in your experiment, and be sure that you have both an experimental and a control group (i.e., people who do not receive the “nudge”).

Idea by Economics research mentor Mallika

Ready to understand the world of business or finance even better?

Register now to get paired with one of our expert business, finance, and economics mentors and start exploring your passion for business, economics, and finance today!

6. Soda Taxes: what works, and why?

In recent years, a number of cities, states, and countries have introduced taxes on soda and other sugar-sweetened beverages like sports drinks and energy drinks. These taxes are designed to reduce the consumption of sweetened beverages. This project would seek to review the existing literature on how these taxes have performed, including documenting where and when these taxes went into place; identifying the key parameters that go into the design of these taxes; synthesizing the results of how these taxes affect soda and sugar consumption; and making recommendations about whether the student's local community should introduce such a tax, and if so, how exactly it should do so.

Idea by Economics research mentor Paul

7. What makes a country rich?

You can probably name some rich countries and some poor countries, but what makes a rich country rich? Is it natural resources? Their system of government? Their "human capital" – education and civic spirit? Or is it just a random accident of history we have no control over? For countries that were once traditionally seen as less prosperous, how have they been able to become “richer” in past years? You could look at case studies, for example. What did China do under Deng Xiaoping or Singapore under Lee Kuan Yew? You could especially use statistics to test theories about what specifically causes economic growth and a country to become “richer”, and try to uncover some ideas for leaders and politicians who want to create prosperity for their nations.

Idea by Economics research mentor Jesse

8. Performance pay and teacher incentives

One of the central ideas of economics is that people respond to incentives. How does this principle apply to paying teachers? If you’re passionate about the education system this project idea could be interesting for you! In researching incentives for teachers, you can learn more about the value-added models of teacher pay and recent state policies that implement performance pay for teachers. Performance pay is exactly what it sounds like - your salary is based on your performance and contributions. You could also explore arguments for and against adding performance pay to teacher salaries and look into current data on the effects of performance teacher pay policies on student outcomes. What could make this project even more interesting is if you interviewed/surveyed teachers or school administrators at your high school to see what they think about performance pay.

Idea by Economics research mentor Merrill

9. Minimum Wage

The literature on minimum wages is one of the broadest in economics. The application of different techniques in the research has often led to very different results from paper to paper, and there is no consensus on the correct answers at this point. You can contribute to this literature by working on a project of your own. The project could be mostly model-based (economic theory) or it could be geared toward testing your hypothesis on the data (empirical economics). Think through what effects you expect, and what data you might want to collect to test your hypothesis. Specifically, you could explore how minimum wage has changed or fluctuated in your home state, and how that has impacted citizens’ well-being.

Idea by Economics research mentor Brian

10. Measuring income and access to a grocery store

Ever looked at a map of grocery stores near you and wondered why they seem to be more or less clustered together? Well, a simple hypothesis would be that the grocery stores are located where the population is clustered. However, a look at the distribution of grocery stores and population densities across cities in America may suggest otherwise. Therefore, you can hypothesize that the higher the average income in a given neighborhood, the easier it is for its residents to have a grocery store in that neighborhood. To explore this topic quantitatively, you can use data available online to find statistical correlations between the average income per household in a neighborhood and the number of grocery stores in the neighborhood. From the statistical analysis, you can draw upon economics concepts and theory to suggest policies that may help ensure grocery access to more people across the U.S., increasing the baseline standard of living. How can technological innovation also play a part in this? What about grocery delivery apps and companies?

Idea by Economics research mentor Sunny

11. Perfect Waves: how surf quality impacts residential property values

While surfing is possible wherever there are waves, the quality of surf spots is highly variable, with factors like bathymetry and exposure to swell and wind playing major roles. In this project, we examine the impact of desirable waves on the real estate markets in their neighboring communities. To do this, first understand the basic factors that impact the quality of surf spots. Then, analyze residential real estate transactions in select coastal communities and perform regression analysis to discern the impact of wave quality on price.

Idea by Economics research mentor Joseph

2 Finance Research and Passion Project Ideas

1. crypto case study: in-depth market research on crypto-currency businesses.

Cryptocurrency, or crypto for short, is a form of digital currency that uses cryptography for secure financial transactions and operates independently of a central bank or government. Cryptocurrencies, like Bitcoin and Ethereum, are gaining popularity. With this project, you can gain a better understanding of finance-focused crypto businesses from all around the world. Do your research and handpick a few companies to deeply study. Where did they go wrong? When and why did they thrive? What is their value proposition for customers? With crypto currently not doing so well and being associated with scandal, there’s an opportunity for you to learn a lot throughout this process! 

Idea by Finance research mentor Ben

2. The Stock Market and Quant Traders

How does the stock market work? When I buy a stock, who am I really buying it from and what am I buying? What is a stock exchange and how does it work? As it turns out, the answers to all three questions are not what you'd first expect! Explore these fundamentals about the stock market first before diving into the field of quantitative trading firms. These firms use algorithms and trained models to find underpriced stocks, allowing them to then sell at a higher price if the stock price goes up. How do these quantitative trading firms work?

Idea by Finance research mentor Richard

Complete a 6-week research project in Finance

Dive into highly concentrated content on a finance-related topic with the guidance of an expert mentor in investments and artificial intelligence, and build your own unique project in just 6 weeks!

5 Entrepreneurship and Venture Research and Passion Project Ideas

1. abcs of launching a venture: building a business plan.

Interested in starting your own business and think you have a great idea? Build your own business plan! If your dream is to someday start your own business, why not start mapping out a plan now? Outline what your product is going to be, why it will succeed in the market, and how you’re going to generate revenue. Be sure to analyze existing products that might be competitive with yours, and think about how your product or revenue generation model will be differentiated. Also, what is the market like for your product? Are there clear companies that dominate the space or are there many players? These are the questions you’ll have to ask yourself as you look to build your business plan.

Idea by Business research mentor Hannah

2. Analyze a company or compare two companies

Learn the ins and outs of how a company functions! Pick either one or two companies of your choice to deeply analyze/compare! Learn to read and analyze a business by looking at a company’s 10-K (a document that outlines everything about a business) and seeing how they generate revenue and what costs they have. You can find a company’s 10-K usually by just googling the company’s name followed by “10-K.” You can also look through articles, the company’s websites, or even interviews with the leaders of the company to learn more about their product and company culture. If you’re comparing two companies, try to see if you can hypothesize why one company might be bigger / more successful than the other!

Idea by Business research mentor Ali 

3. Launch a social media brand

Help someone expand their business through social media! Find a small business that might not have a great social media presence, and would be open to your help and guidance! Think first about how you would pitch the value of social media to the small business. How would they benefit? How would it help them generate more revenue? Think about what social media platform you would use, and what kinds of content you would post. Tons of small businesses, particularly restaurants, are now making full use of social media to spread more awareness, and you can help a business do the exact same!

Idea by Business research mentor Ben 

4. Business product analysis

In this project, you will conduct a comprehensive analysis of a chosen product from a company of your choosing. You can pick a product that you know particularly well and ideally one that you use yourself. What does the product do? How does it help customers? How does the product compare to the competition in terms of price, quality, and other factors? You can even think about how the product could be improved, based on your own experience or comparisons to competitor products. What do other customers think of the product, based on online reviews? The final outcome of the project can be written documentation that summarizes the chosen product and provides reflections on potential improvements.

Idea by Business research mentor Leo

5. Marketing to free agents in sports

Interested in the intersection of business and sports? This project might be exciting for you! When a player hits free agency in any sport, teams, and General Managers across the league throw money at the player in hopes that he or she will sign with their team. However, choosing a new team is a life-altering decision that involves more than just salary. The goal of this research would be to pretend that you’re involved with a major sports franchise of your choice and derive a sales and marketing strategy with which General Managers can approach free agents. By determining which factors (e.g., salary, city quality, cost of living, team quality) move the needle most for players, this strategy could effectively help the franchise market themselves to free agents and increase the likelihood of not only signing their desired players but potentially signing them for a discounted price.

Idea by Business research mentor Molly

2 Intersection of Tech and Business Research and Passion Project Ideas

1. the metaverse.

The metaverse is a hot topic in tech culture, but what exactly is it? The metaverse encompasses many different tech stacks from virtual reality, augmented reality, and web3/blockchain/NFT architecture. Big tech companies like Facebook have now made commitments to the metaverse. Explore what the metaverse actually is and why it’s a revolutionary idea, and break down how traditional businesses can expand their business to sell new types of products in the metaverse. The movie Ready Player One is also a great introduction to the metaverse and what it could actually look like, so definitely watch and analyze the movie as part of your research.

Idea by Business research mentor Brandon

2. Artificial Intelligence replacing knowledge workers

Are AI tools like chatGPT and DALL-E (text to image) poised to rapidly replace knowledge workers? Generative AI tools like chatGPT are capable of performing all sorts of tasks, from drafting sales copy to writing code, but is AI enough to replace knowledge workers? This is a hot topic that many people are weighing in on right now. There are certainly jobs that could and will be replaced by automation, but there could also be others where AI simply complements the work of a human. Explore how AI will or will not replace different workers. What industries or roles are most susceptible to being replaced by AI? What specific tools could they be replaced by? Come up with your opinion on this debate and if possible focus on a specific industry and how generative AI might impact it.

How To Determine Which Business, Finance, or Economics Project Idea Is Right For You

As we’ve shown, there are many different Economic, Finance, and Business project ideas for high school students to explore. Here’s how to help you decide which one you should start.

Reflect on Your Interests and Goals : Start by considering your personal interests within economics and business. Identify the areas that intrigue you the most and align with your academic and career goals.

Assess Your Knowledge and Resources : Evaluate your existing knowledge and skills in economics and business. Choose a project idea that allows you to build on your strengths and is feasible within your available resources.

Consult with Mentors and Advisors : Seek guidance from mentors , teachers, or advisors who specialize in economics, finance, or business. Discuss your interests and potential project ideas with them to gain valuable insights and suggestions.

Review Project Descriptions and Deliverables : Carefully read through project descriptions provided by mentors. Identify project ideas that resonate with your interests and align with the type of deliverable you'd like to create.

Consider Personal Connection and Impact : Reflect on the personal connection you have with the project idea. Choose projects that genuinely pique your curiosity and passion. Additionally, assess the potential impact of your research within the field.

By following these steps, you can confidently select a business, economics, or finance project idea that suits your interests, abilities, and aspirations.

Get Support Completing Your Business, Economics, or Finance Project

Once you’ve picked a project idea, check out some of our resources to help you progress with your project! Whether you’re stuck on how to cite sources , how to come up with a great thesis statement , or how to showcase your work once it’s finished , we can help you out.

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Your passion can be your college admissions edge! Polygence provides high schoolers a personalized, flexible research experience proven to boost your admission odds. Get matched to a mentor now!"

Fake Business Ideas for School Projects

Michele is a writer who has been published both locally and internationally.

Learn about our Editorial Policy .

Fake business ideas for school projects can be serious or funny depending on the parameters of your assignment. Show off your creativity and entrepreneurial skills by creating an original and comprehensive company.

Fake Product-Based Business Ideas

Some businesses are based on making or buying and then selling a specific product. Companies like Nike, Apple, and Nintendo sell products to consumers. Product-based business opportunities can take on all kinds of forms from small businesses with a charity component to large corporations giving students experience in lots of different business practices.

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Custom Pet Creator

Build a business where customers can choose all the features of their ideal pet thanks to genetic engineering. You'll need to think of every angle from how the pets will be ordered and created to how you'll stave off critics of this controversial process. The fun nature of this product and its real-world potential are ideal for a school setting because teens will need to explore building a business and the dilemma of ethics versus profit.

Replacement Robot

Have you ever wished you had a second version of yourself to cover for you on sick days or take a test you're not prepared for? Now you can with the Replacement Robot. Students may actually be able to build a robot prototype to use in testing their business, even if it's on a smaller scale. Creating a business teens can actually run takes their project to the next level in understanding the complexities of being an entrepreneur.

Rent-A-Cell Phone Center

Forget disappearing messages on apps, the ultimate way to call or message someone with complete anonymity is a Rent-A-Cell Phone Center. At your kiosks, anyone can pick up one of the provided cell phones and use it for any length of time. A mobile phone business project like this gives teens the chance to explore franchising within their business as that might be an option for how to get these phone centers all over the place.

False Combination Locks

Everyone has trouble opening their school locker combination lock at some point throughout high school. These false combination locks might have hidden buttons or levers or require the user to only turn to one specific number instead of the traditional three number opening method. This business takes a real world teen issue and provides a solution, which helps connect business lessons with real life.

Senior Painted Portraits

Teens today don't want to blend in with the crowd, they want to stand out as unique individuals. Start an art business where you paint senior portraits for teens. Instead of hiring a photographer for their yearbook photo or photos for home, students can hire you to paint a unique senior portrait. Since each product is completely original and takes time, students will be challenged to explore the feasibility of creating a business based solely on their own talent or skill.

Fake Service-Based Business Ideas

Service-based businesses provide experts who will do work for customers. Services are usually focused on one specific task or field. Examples of companies providing services are Uber, Chipotle, and lawn care businesses. Students will need to define their customer base and create service packages to best meet customer budgetary needs.

School Backpack Couriers

Tired of carrying around your overloaded, heavy backpack all day at school? With this business you can employ dozens of backpack couriers. These couriers can carry backpacks to and from school for students or all during the school day. Since the customer base is students, teens can do real market research in their own school for this business plan.

Personalized Sports Fan Section

For people who want to feel like professional athletes, you can give them the dedicated fan experience they've been hoping for. Athletes of any level can hire their very own sports fan section for an upcoming game or even the whole season. Include different tiers of packages like an inexpensive option where 3 to 5 fans who will hold a sign with your name on it and an expensive version that includes 20 fans. Students will have to consider all aspects of running a company with many potential employees.

Lunch Leftover Packagers

Those who pack a lunch and those who buy a lunch at school might have leftovers because of short lunch periods. Build a business where you can package up leftovers for students, staff, and the cafeteria. You can keep the leftovers refrigerated for the rest of the school day then have a pickup location near the main school exit at the end of the day or donate all the leftovers. This business option gives kids an introduction to working with food, which requires an understanding of government regulations.

Farm to Table Food Truck

Starting a food truck at your school or in your town is a simpler way to create a fake restaurant business. This small business option relies heavily upon networking because students will need to find farms who provide different ingredients and work with local governments or businesses to find places to park the food truck.

School Campaign Promotors

From student council campaigns to prom queen campaigns, high schoolers have many opportunities to market themselves. This business offers the chance for teens to hire a team of professional promotors who will do everything from design and hang posters to coordinate flash mobs for their campaign. Students will focus on learning about marketing techniques as they create this fun business.

School Project Success

The most successful high school business project ideas are ones that are creative and you're really invested in. Choose a type of business that suits your personality, talents, and skills and you're sure to get an "A." Starting a business as a kid can feel overwhelming, but if you follow a business plan, the process can be a lot simpler.