Mathematics Senior Level Capstone Course Unit Overview
Title of Unit: Starting A Business-Who, What, Where, How Unit Designers:
Mirela Geagla – Arlington Mikhail Balachov – Arlington Kiera Poplawski – Loudoun Debora Strickler – Loudoun Hunter Hagerty – Loudoun Su Chuang - Loudoun Context of the problem: You are an active member of your community and you have the opportunity
to start a business within your community. What is your business? What purpose would your business serve for your community? How will you ensure that your business will thrive?
Number of Class Hours:
27 hours Unit
Design: Problem Based Unit Other Subject
Areas/Disciplines Addressed:
Business, Accounting, Finance, Marketing, Economics
Driving Question: How do you identify a commercial need in a community and build a successful business model to meet that need? Mathematics Content
Addressed:
Conducting surveys, collecting data, representing and analyzing data, curve of best fit, creating mathematical models, identifying zeros of a function, transformational graphing of functions, slope, solving problems involving rational numbers.
MPE Addressed:
Problem Solving, Decision Making, and Integration; Understanding and Applying Functions; Procedure and Calculation; Assumption of Prior
Knowledge:
Conducting surveys, collecting data, representing and analyzing data; Use of spreadsheet software to organize data; Simple and Compound Interest; Understanding of financial terms; Mathematical modeling
College and Career Readiness/21st Century Skills to be (T) during this unit or expectation (E) for student use
Collaboration – Groups of 4 E, A Research – Needs assessment of the community, Business/Financial data associated with the business plan
E, A
Communication (Oral and/or Written) – Oral presentation to a board/panel
E, A Technology – Spreadsheet software, Presentation software (powerpoint or
during this unit and assessed (A):
BIE Page 35-37
representing a community planning committee, a written proposal for the panel to review, and create an advertisement (video commercial, audio commercial, or print advertisement)
Prezi),
Critical Thinking/Decision Making – Analyze data to determine the type of business to bring to a community and to make all financial and marketing decisions to ensure a successful business.
E, A Other: Metacognition/Reflection – Upon completion of the project presentations, groups will revisit their business plan, propose revisions to their process, and identify areas of concern.
E, A
Major Products and/or Performances:
Group – Presentation of business plan, Written proposal of business plan, Advertisement for business
Presentation Audience:
X Class
X School
Individual – Journal and Reflection X Expert
X Community
Other: Launch: Event or
experience used to engage the students interest and inquiry:
INC. Article, “10 Inspiring Small Business Success Stories”
http://www.inc.com/ss/10-inspiring-small-business-success-stories#1
This article highlights 10 different small business successes with a brief description of the motivation
behind the business.
Good Morning America: “3 Small Business Success Stories – SBA Lending Increases”
http://www.youtube.com/watch?v=qqGVs_rzMFg&feature=related
This 5 minute video highlights three successful small businesses and how each of the business owners
obtained the funding to start their business.
Evaluation: Formative Assessments
(During the Unit) InterviewMathematicians Journal X Practice PresentationsNotes Preliminary
Plans/Outlines/Prototypes
Checklists X
Rough Drafts Concept maps
Feedback Summative Assessment
(End of Project)
Written Products, with a rubric X Peer Evaluation, with a rubric
Oral Presentation with a rubric X Self Evaluation, with a rubric
Other Product(s) or
Performance(s), with a rubric: Advertisement (commercial or advertisement)
X Other:
Resources Needed: On-site people, facilities: Business teacher, marketing teacher, economics teacher
Equipment/Technology: Computers, Video cameras, or audio recorders, spreadsheet software, presentation software, audio/video editing software
Materials: Chart Paper and Markers
Community Resources: Local business partners, loan officers, development commissioner, real estate developers, patent lawyer, representative from a commercial property management company, representative from a community advertising company,
Reflection Methods: Individual, Group, and/or Whole Class
Mathematicians Journal X Small/Focus Groups X Whole Class Discussions X Fishbowl Discussions
Survey Other: Peer Review and
Feedback
X
Material Adapted From:
U N I T C A L E N D A R
page 1TITLE: Starting A Business-Who, What, When, Where, How Time Frame:
M O N D A Y T U E S D A Y W E D N E S D A Y T H U R S D A Y F R I D A Y
P R O J E C T W E E K O N E Engage
Activity I & II
Activity II Activity III
Activity III Activity III Activity III
Checkpoint #1 P R O J E C T W E E K T W O
Activity IV Explain
Activity V Checkpoint #2
Activity VI
Activity VI Checkpoint #3
Activity VII Checkpoint #4
Activity VIII Activity VIII
P R O J E C T W E E K T H R E E Activity VIII
Checkpoint #5
Activity IX Activity IX Activity IX Activity IX
Checkpoint 6
P R O J E C T W E E K F O U R Checkpoint #6
Presentations
Virginia’s Senior Level Capstone Course Instructional Plan
Unit Title: Starting A Business-Who, What, When, Where, How
Driving Question: How do you identify a commercial need in a community and build a successful business model to meet that need?
Problem: You are an active member of your community and you have the opportunity to start a business within your community. What is your business? What purpose would your business serve for your community? How will you ensure that your business will thrive?
ENGAGE Introduce the Problem Number of hours _0.5___
(Provide several videos of different successful businesses and have teachers select one or two to show students).
You are an active member of your community and you have the
opportunity to start a business within your community. What is
your business? What purpose would your business serve for your
community? How will you ensure that your business will thrive?
INC. Article, “10 Inspiring Small Business Success Stories”
http://www.inc.com/ss/10-inspiring-small-business-success-stories#1
This article highlights 10 different small business successes
with a brief description of the motivation behind the business.
Good Morning America: “3 Small Business Success Stories
– SBA Lending Increases”
http://www.youtube.com/watch?
v=qqGVs_rzMFg&feature=related
This 5 minute video highlights three successful small
businesses and how each of the business owners obtained the
funding to start their business.
Mathematician Journal Prompts What makes a successful business in a community? What
experiences have you had with a successful business? How do you know it’s successful? What factors cause businesses to fail? EXPLORE Whole Class Number of hours_8__
Activity I: Considering the Community – Setting the Stage: Bring in a community planning committee member or have a
community member act the part and discuss business development needs for their community.
Have the presenter discuss with students the importance of having successful businesses in the community and the benefits this serves the community. Things for students to consider are needs of the community, interests of the community, sustainability of the business, and long term success of the business.
The presenter can help students identify several ways they can research community needs and interests. The presenter can also facilitate the conversation as students identify things they want to
research or data they need to collect in order to identify community needs/interests.
Mathematicians Journal: Have students reflect on the following questions before starting Activity II.
o
What do you think are our community’s needs and
interests?
o
What evidence leads you to believe these are the needs
and interests of our community?
Activity II: Our Community – Who Are We and What Do We Need?:
This conversation can be facilitated by either the presenter or
the classroom teacher. Students may want to have the
following information with them to start the discussion about
community needs/interests:
Map of their community
List of businesses in their local community
Open with a discussion on the Mathematicians Journal
prompts:
o
What do you think are our community’s needs and
interests?
o
What evidence leads you to believe these are the needs
and interests of our community?
Record student responses and follow up with the question,
‘How can you confirm your thinking? What kind of data can
you obtain that would justify your thinking? How can you
obtain that data?’
The purpose of this discussion is for students to brainstorm
ways they can obtain data about their community’s needs and
interests. Students may look at:
o
The demographics of their community
o
List of existing successful businesses in their
community
o
List of businesses that failed in their community
o
Surveying community members
o
Identifying popular businesses outside of their
community
The whole class can have discussions to answer the following questions and conduct research to answer the following questions: What do we know about our community?
What businesses are in our community?
What needs do these businesses serve in our community? What are the features/characteristics about these businesses that
make them successful/unsuccessful?
and interests? Selecting one or more of your
How do we determine what type of business would succeed in our community?
Record the responses to the following question and post it in the classroom for students to refer to:
What are different types of businesses in which we can be involved? (Consider the following ideas. Students may come up with other business ideas that are not on this list.)
o Business developed around an invention o Small business owner
o Business developed around a unique approach to an existing business model (i.e. drive thru coffee shop) o Franchise owner
o Eco-friendly business o Online business
o Property development – building a new mall or shopping center
Activity III: Show Me the Data!
Once students have generated what they think are the needs/interests of the community, break them up into groups to obtain the data. Each group should be assigned to collecting some data the class is
interested in analyzing.
Each group will develop a method for collecting, analyzing, and presenting that data to the class.
Each group will present their findings to the entire class. Each group will make their surveys, data, analysis, and data
representations available for the entire class to access for the remainder of this unit.
Checkpoint #1: Community Needs Assessment Activity IV: Where Do I Fit In This Picture?
Have each student create a two-column list and title one column, ‘Community Needs’ and title the second column, ‘My Interests’. Under ‘Community Needs’ have students list community needs
based on the evidence/data they collected.
Under ‘My Interests’ have students list their interests, skills, abilities, and talents.
Once students have completed these two lists, have students begin to brainstorm, individually, several ideas for businesses. Students should record their business ideas on the bottom of the page. Mathematician’s Journal: Have students reflect on the following
question:
EXPLAIN Expectations for students work and working together Number of Hours_0.75__
Data Collection and Analysis:
The class has already conducted a needs assessment based upon group discussions about community needs.
Once a group identifies their business, each group will need to identify any additional data they will need to collect and analyze in order to develop a thorough business plan.
This data can include financial data or other information about comparable businesses in their community or in a similar community.
Each group will provide explanations about how the data informed their decisions for their business plan.
Business Plan
(Written Business Plan, Oral Presentation, & Advertisement): Each group will develop a thorough business plan that explains
their business idea.
The U.S. Small Business Association provides a variety of support and information about developing a business plan. Teachers may want to review the template and information on this website and simplify it to meet students’ needs.
http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/how-write-business-plan
Each group will produce a written business plan for a panel to review.
Each group will provide an oral presentation before the panel and the class on their business plan.
Each group will create an advertisement (video commercial, audio commercial, or electronic/paper advertisement) for their business.
Rubrics for the written business plan (HO #5), the oral
presentation (HO #6), and the advertisement (HO #7) should be distributed to all students.
Reflection:
Each group will revisit their business plan after all the group presentations and evaluate their plan, identify any gaps or areas of concern with their business plan, and propose changes that may improve on their business model.
Mathematician Journal Prompts
ELABORATE Students working in groups
The Elaborate section, where students are working in groups, is broken up into Activities. Teachers can choose to use these activities to break the problem unit into the chunks students will need to create products for this unit (i.e. Business Idea, Business Plan, Presentation, etc…).
Depending on the level of facilitation students need, these activities are optional. These activities are provided to help students who need
Number of Hours__14.5___
additional facilitation or structure to this problem unit.
Students should have HO #8: Checkpoints, to help identify the different checkpoints for this unit.
Activity V: That’s My Business!
Have students break up into groups and identify a business the group would like to explore. Small group discussions can focus on the following questions:
How does this business idea meet community needs? How can we ensure that our business will be successful? How will we market our business idea?
What costs will we accrue in order to get our business off the ground?
Will we need a physical space for our business? Will we rent or build our own facility? How will these decisions affect the costs for our business?
Mathematician’s Journal: Have students reflect on the following question:
o What is the motivation behind your group’s business idea(s)? o What evidence leads you to believe your business idea(s)
will be successful in your community?
o What challenges or obstacles do you think you may face with your business idea?
o How do you think you might address these concerns? After students reflect individually, have groups share within their
groups.
Checkpoint #2: Identify a Business Idea. Activity VI: Developing a Plan!
Note: The handouts provided include resources and guiding questions to help students develop a business plan for several different types of businesses. Teachers should adjust these handouts or provide some of the information from these handouts as needed based on the support students need for this unit. Students should be working fairly independently at this point, but the resources are available if teachers need to provide support to groups of students. The resources represent several of the types of businesses but do not represent all options. I. Small Business: HO #1 (Note: This handout provides a variety of
support information for students. Teachers should adjust the information based on the amount of support or guidance student groups need. The tables and guided questions are examples to provide teachers with a structure to organize and consider various information as students develop a business plan). II. Business developed around an Invention: HO #2
III. Franchise owner: HO #3
IV. Building a Shopping Center/Mall: HO #4
behind your business idea? What evidence leads you to believe your business idea will be successful in your community? What challenges or obstacles do you think you may face with your business idea? How do you think you might address these
Checkpoint #3: Begin the Development of a Business Plan Activity VII: Questions, Questions, Questions.
As students are developing their business plan, they should be referring to the data presented in the community needs assessment (Activity III). But the community needs assessment only provides part of the picture. There is still a lot of information students will need to further develop their business plan.
Have students generate a list of questions they may need answers to in order to develop a thorough business plan. Some of these questions may include the following:
o What other businesses are similar to our business model? Are they successful in our community?
o If there are other businesses in our community similar to our business model, how can we ensure that we will be
successful? Is there a need for another similar business? If yes, what evidence do we have?
o How is our business unique? Will the unique feature(s) attract business? How do we know?
o Has our business model/idea been attempted elsewhere with success? Why was it successful? Can that success be repeated in our community? If yes, what evidence do we have of this?
o How did these similar businesses start? What kind of capital was needed? How does our capital needs compare to these similar businesses?
o How will we advertise or market our business? How does this compare to the advertising or marketing of similar businesses?
Once students have generated this list of questions, students should generate a list of additional research, resources, and information they need in order to answer these questions.
Checkpoint #4: Identify Resources Needed to Implement the Business Plan
Activity VIII: Research, Data, Analysis, Oh My!
Students have generated questions about similar business models and have identified the additional research, resources, and information they need in order to answer these questions.
Students need to conduct that research, collect the data, and analyze the data.
Students should use the data and the analysis and use this information to refine their business plan.
Checkpoint #5: Refine the Business Plan Activity IX: Time to Put on The Show.
rubric for the oral presentation (HO #6), and the Advertisement (HO #7), students need to begin creating their presentations.
Checkpoint #6: Create a Presentation to the Panel Activity X: Reflections.
Once all groups have presented their business plans and
advertisements, students should break up into their groups to reflect on their group’s business plan.
As a group, students will collaborate to write a group
Mathematician’s Journal reflecting on the following questions:
o What gaps, challenges, or concerns about the business plan was not addressed or not addressed well?
o What issues can we identify now that we did not think about earlier?
o What changes can we make to improve our business plan? Why? How will these changes improve our business plan? Checkpoint #7: Reflect on the Business Plan
EVALUATE Working groups submit products and make presentations Number of Hours_2.5__
Business Plan (Written):
Each group will submit a written business plan following the expectations detailed in the rubric (HO #5) for the written business plan.
Oral Presentation:
Each group will present their business plan to a panel of community planners and the class. Teachers may choose to have school
representatives or community members serve as members on this panel or request community planners to sit on this panel. Each presentation will be evaluated using the rubric (HO #6) for the oral presentation of the business plan.
Advertisement:
Each group will include in their oral presentation an advertisement or commercial (video or audio) for their business. This advertisement will be evaluated using the rubric (HO #7) for the advertisement. Peer Review:
Each group will provide a Peer Review Feedback (HO #8) for every group that presented. This peer review feedback form is to provide the presenting group with additional feedback from their peers about the business plan.
Reflection:
After all presentations are complete, the groups will gather and review peer review feedback. Groups will also consider the presentations from other peer groups and reflect on their business
model. Groups will identify any concerns that were not addressed and suggest changes to improve their business plan.
Finally, the mathematician’s journal prompt allows for students to self-evaluate their role in a collaborative group and as a problem solver.
o What did you learn about yourself during this unit? What did you learn about your role in a collaborative group? o How did this problem unit allow you to develop your skills
Map the Unit
What do students need to know and be able to do to complete the problem successfully? How and when will they assess their own necessary knowledge and skills? How will they remediate their own gaps or weaknesses in knowledge and skills? Look at each major task for the unit and analyze the tasks necessary to produce a high-quality product.
Task: Starting A Business-Who, What, When, Where, How
KNOWLEDGE AND SKILLS NEEDED Assumed
already learned
Students will self-assess
Will be learned during the unit
1. Data Collection and Analysis X
2. Data Representations X
3. Creating Profit Equations X
4. Transformational Graphing X
5. Computation with Rational Numbers X 6. Understanding of Financial Terms and
Formulas
X
7. Creating and Conducting Surveys X 8.
9. 10. 11.
What project tools will student’s use? Know/need to know lists Daily goal sheet
Mathematician’s Journals Briefs/Memos
Task lists
Planning Calendar
□ ________________________________ □ ________________________________ □ ________________________________ □ ________________________________ □ ________________________________
HO#1 How to start a small business
You are about to embark on a special journey, one that will take to your first ever business ownership! There are many innovative ideas to grasp from, here are some that will help you start thinking about your upcoming journey:
“ Mininos salon for kids”:
http://www.youtube.com/watch?v=sUYkpKVXK5c
Video clip about a small business owner who opened a children’s salon.
“ 2011 Small business success stories”:
http://www.youtube.com/watch?v=-tnysaM3KD0
Video clip about various small business success stories.
“ Bilingual buds”:
http://www.youtube.com/watch?v=aAGN6qROnxo
Video clip about a small business owner opening an immersion Mandarin/Spanish/English school.
Part 1
Businesses are activities that provide goods and/or services in exchange for other goods and services. A variety of businesses contribute to our local economy. These include:
Designing (buildings, gardens, paths, posters, etc.)
Manufacturing or producing (goods like clothing or furniture, or processing paper to make books) Supply and distribution (moving goods from producer to client)
Selling (retailing – buying from a producer and selling to he consumer, or wholesaling – buying from a business and selling to other retailers)
Installing (fitting or connecting the product to the customer’s home or business) Repairing (restoring broken or defective goods to working order)
Service industries (tourism, information and communication services, leisure activities, etc.).
Part 2
The students in your group have a variety of skills and experiences. Discuss these with your group and describe your skills.
There are different types of skills:
Self-reflection: What are some of my personal strengths? (confidence in myself, managing my life, being responsible, etc.)
Thinking: What kind of thinker am I? (being creative, solving problems, making decisions, observing my surroundings, basing actions upon needs and opportunities of the immediate context, etc.)
Communication and Collaboration: How do I interact with others? (working with others, accepting others’ opinions, etc.)
Where are my talents? What can I do? (repairing bicycles, cooking, making crafts, reading, singing, etc.).
Part 3
Consider your community and identify some needs for products or services. It can be a difficulty your community is having and a product or service that could help overcome that. Think about how one of your own skills can be applied to provide a service or product that could address the needs.
For example:
Need : i.e. Many elderly people in the community are unable to walk to the grocery store or shopping centre.
What can be done? : They need to be provided with a mode of transportation.
How can I help? : I have a driver’s license and a car and can offer to transport them to the market for a small fee.
Part 4
If a product or service is needed by a person or group of people, there is a demand. The people who need the product or service, and are willing to pay for it, are customers. The number of customers in the community represents the market for a service or product. Business people who provide similar products or services are competitors.
A business can estimate the size of its market by carrying out surveys of customer needs, preferences and willingness to pay.
2. Why do they like or dislike my product (shape, size, color, etc.)? 3. What are customers willing to pay for this product/service?
4. Will there be a consistent demand for the product/service? Or will consumers stop buying it altogether?
5. What is the demand for this product/service? How much of an item or how frequently will the service be provided to one customer?
6. Where should the product be available? 7. Who are my competitors?
Part 5
In today’s business, the market is one of the most crucial items that will determine your success. 1. Estimate the market for a product or service over a period of time. What things can affect my
market?
2. Is your market sustainable? 3. List locations for your business:
Good locations Bad locations
Part 6
1. How will you decide on a selling price?
2. How will you work out how much it costs to make the product or service? Look at the example below:
I make wooden toys for children. The wood for one toy costs _$ 5_
My labor costs for making the toy are _$5_ My bus fare to and from the marketplace is _$1_ My place at the market costs _$2_
My business’ profit is _ $2_ My selling price is _$15_
Production Wood Own salary
Cost $5 $5 Overheads
Bus fare Market place
$1 $2
Total cost of production $13
Profit $2
Now fill in the table using your business idea:
Production Cost
Overheads
Total cost of production
Profit
2. For my chosen business, the cost of making my product is:
3. What other factors should you consider, and what should you re-examine after you have made the product?
Part 7
1. How much will it cost to start your business?
2. Where do you plan to obtain funds from in order to start your business?
3. Look into several banking services available to you, and list different choices of funding: 4. How much money will you need to borrow and how much will you be able to pay back each
Part 8
A cash flow statement will give a business owner the amount of liquid cash available at any given time. You can prepare a cash flow statement by recording all income received by the business on one hand, and all expenses occurred on the other hand. The difference between these two will give an indication of the positive or negative cash flow situation in the business at the end of a given period.
1. Here’s an example of a cash flow statement. Fill out all the blanks:
Month 1 2 3 4 5 6 7 8 9 10 11 12 Total
for year
Outstanding at year end
Cash sales Other income
Total income Outgoing costs Material costs
Labor costs Overheads Marketing
costs Loan payments
Taxes Total expense Cash flow
2. What is a balance sheet and why do you need one?
Part 9
Select a task that needs to be carried out within your business. Identify the work that needs to be done and determine the professional profile of the person needed to do that work.
1. When do you need to hire for your business?
2. Make a list of material items you will need to start your business:
3. Are any of these materials easily available at a reasonable price or are any of them too expensive? How will you overcome difficulties?
Resources:
HO #2 Business Developed Around an Invention Title of your Business Model: Invention
I. At one point in everyone’s life we have thought, ‘Wish I had thought of that. I could be rich’. Inventing something that would be what everyone needed and then selling the product to become independently wealthy. We are constantly seeing products on TV that were someone’s invention.
http://www.youtube.com/watch?v=OyjUFXAsJBk&list=UUXMB-fLfDdA44Qs47Izz8JA&index=8&feature=plcp
http://www.youtube.com/watch?v=__SLEcBE10k&list=UUXMB-fLfDdA44Qs47Izz8JA&index=9&feature=plcp
So, do you have an invention and want to market it?
II. Community Resources: Look at local businesses and see if there are places that sell their “own” product-these could include artwork, music, food, and of course, a unique product. You could have students contact the local small business bureau and have speakers come in to discuss setting up a market for their product. Most schools have business partnerships that could be accessed also. PTO could be a good resource for information about local proprietors. Since the business is an invention, having a patent lawyer come in to speak about patents.
III. Resources: http://www.youtube.com/watch?v=b4DIJNKXODE http://www.youtube.com/watch?v=uPEVBpfYYTU
http://www.youtube.com/watch?v=PXsTLFdOK_8
There are many places for students to research their invention. They will want to search the web to see if their invention is unique or has someone already marketed it. They will want to look into how they plan on marketing and selling their product. If there is a marketing class in the school, they could have the students work on a marketing plan.
IV. Guiding Questions/Points to Consider: 1. How will you make the item?
2. How will you distribute the invention-sell local, on the web, own store…? 3. Do you need to get a patent/copyright-if so, how do you do it?
4. Start-up cost-what will it cost to make the item, distribute the item.
If you are planning on selling on the web-will you or someone else do the web design? 5. Could have marketing/art class design come up with advertising ideas.
6. Could have tech department make the item from design.
7. Look into local businesses that sell local products-what do they need from you to sell your product.
8. What will you do about a warranty/replacement if your product doesn’t do what it says it will do?
9. Look into local fairs for selling products-what do you need to do to have a booth at the fair or craft show…?
10. What is your goal? How many do you want to sell? What is needed to go from you and local to big time?
Is it non-toxic? Is it safe for all ages? Is it eco-friendly?
HO #3 Franchise Businesses
Type of Business Model: Franchise: Students will choose a franchise and research what it would take to get started.
I. Love the slushes at Sonic?
Wish your town could have a drive- thru Starbucks?
How do you go about buying into one of these companies and bringing it to your town?
http://www.youtube.com/watch?v=sgdxyvNzsOA
Video clip about buying a Starbucks franchise
http://www.youtube.com/watch?v=I8dLYhlvXXI&feature=related
Video clip about franchise buying tips
II. Check the local businesses for established franchises. Ask the owners to come share their experiences in opening their franchise operations.
Are there county or city restrictions on the type of businesses that can come in? Are there some attorneys in the area that are familiar with franchises?
III. Resources:
Check the internet for ideas and information on starting franchises.
http://www.ehow.com/how_107789_buy-franchise.html#ixzz1vYCnidnN
http://www.howtobuyafranchise.com/
Check for actual franchise opportunities:
http://www.franchiseopportunities.com/fo/franchisefinder2.asp? r=mac&utm_source=msn&utm_medium=cpc&utm_term=buy%2Ba %20franchise&utm_content=exact&utm_campaign=franchise_finder2
A great website for information:
http://www.entrepreneur.com/franzone/guide/index.html
IV. Guiding Questions/Points to Consider:
1. What are you interested in? Can’t get enough pizza? Maybe one of the pizza franchises is right up your alley. Can’t stand the smell of coffee? Starbucks should not be in your list. 2. Can you follow rules? Franchises have very strict rules so that their businesses stay alike. 3. How much can you invest? Will this change whether you are going to open a large well-known chain or a small just starting out company?
5. How much help can you expect from the franchise company? What are the expectations of the franchise you choose? Will there be training?
HO #4 Building a Shopping Center or Mall Title of your Business Model: Building a Shopping Center/Mall I.
Are students looking for something new and cool for their community? Someplace they and their peers can enjoy but still provide their parents and other family members with activities to keep them coming back? Consider making a proposal for a new community shopping center or mall that incorporates features that meet their interests but also the interests of their community.
http://www2.timesdispatch.com/news/news/2012/apr/09/tdmain01-city-getting-ready-to-implement-shockoe-r-ar-1828117/ : Shockoe Revitalization Plan, Richmond, VA.
II. Community Resources:
Students can research local or state department of commerce or community boards for feedback about procedures for business proposals.
Students can contact local banks for information about business loans.
Local commercial real estate brokers may provide students with information about acquiring property/land for commercial use.
Students can ask local business owners to come in and discuss how and why they selected the businesses that they started, the process, and statistics about their business.
Students can ask local property management companies to talk about how and why they selected the locations they did to build their shopping centers/malls.
Students can ask local construction companies to present all that is entailed with building green (eco-friendly) structures, renovating existing structures, or developing on new land to create a new shopping center/mall.
Planning commission for their locality III. Resources:
http://www.reedconstructiondata.com/ : Reed Construction Data website.
http://www.reedconstructiondata.com/building-types/shopping-centers/all/ : Shopping Center
Construction – Sample project costs for shopping centers across the United States of America. Information re: square footage and number of units and overall property space.
http://commercialconstructionblog.com/3-construction-cost-savings-tips-for-shopping-mall-development/ : Englewood Construction – talks about 3 cost saving tips for people who want
to de-mall existing malls into open shopping centers.
http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business : Small Business Administration – tips, articles, lessons on starting your own
business.
http://www.khake.com/page31.html : Resources for starting your own business
http://www.educationworld.com/a_lesson/lesson178.shtml : Lessons on starting your own
business.
http://www.youtube.com/watch?v=o0ffpa22T44 : YouTube video about grocery store
anchored shopping centers surviving well in economic slowdown
IV. Guiding Questions/Points to Consider:
What are the incentives or motivation for developing a green mall or shopping center? What are the incentives or benefits of renovating an existing structure? What are the
disadvantages?
Who is your targeted customer base?
Do you have an anchor business? Why are you considering this business an anchor for your shopping center? What makes you believe this anchor business will bring in a consistent customer base?
What about your business plan makes you stand out from other businesses? How are you going to finance this project?
What are the projected costs of building this property?
What businesses or types of businesses are you hoping to feature in your shopping center? How will you attract these businesses or types of businesses to lease space in your
mall/shopping center?
How large are you hoping for this shopping center/mall?
Look at local newspapers or search online for commercial property near the location of your mall. Is there a great deal of available commercial property? If so, why would a business lease from your property?
How will you attract customers to your mall?
HO #5 Rubric: Written Business Plan
Category 4 3 2 1
Executive Summary
Provides a description of the business goals, a brief but clear description of the business plan, and the company profile (i.e. number of employees, the founders, and the roles of the founders in the business).
Provides a brief but clear description of the business plan and the company profile (i.e. number of employees, the founders, and the roles of the founders in the business).
Provides a brief description of the business plan and the company profile. Information provided is incomplete or unclear.
Provides a brief description of the business plan. Information provided is incomplete or unclear.
Marketing Analysis
Provides industry market knowledge, a thorough description of the target market for the business, provides a competitive analysis, and a complete description of distinguishing characteristics that separates this business from similar businesses.
Provides industry market knowledge, a thorough description of the target market for the business, and a complete description of distinguishing characteristics that separates this
business from similar businesses.
Provides industry market knowledge and a thorough description of the target market for this business.
Identifies the target market for this business.
Company Description
Provides a clear
description of the needs this business will meet and the purpose this business will serve. Details about staffing and training will be included. The
competitive advantages will be identified with supporting evidence.
Provides a clear description of the needs this business will meet and the purpose this business will serve. Details about staffing and training will be included. The
competitive advances will be identified.
Provides a clear description of the needs this
business will meet and the purpose this business will serve. Details about staffing are included.
Category 4 3 2 1 Marketing
& Sales
Manage-ment
Provides a clear and thorough description of the marketing plan for the business. A plan for business growth is included.
Provides a clear and thorough description of the marketing plan for the business.
Provides a brief description of the marketing plan for the business.
Provides a brief description of the marketing plan for the business that is unclear.
Funding Request
Provides a thorough description of how this business will be funded, including future funding as the business grows. This description will include details for the specific amount of funding needed and how it is calculated.
Provides a description of how the business will be funded. This description will include details for the specific amount of funding needed and how it is calculated.
Provides a statement of how the business will be funded and identify a specific amount of funding needed.
Identifies a specific amount of funding needed.
Financial Projections
Provides a thorough reporting of how this business will make money. Financial data will include projections on income and capital expenditures.
Spreadsheets and data representations will be provided to accurately illustrate financial projections.
Provides a thorough reporting of how this business will make money. Financial data will include projections on income and capital
expenditures. Spreadsheets and data representations will be provided to illustrate financial projections. Data representations may have errors.
Provides a
thorough reporting of how this business will make money. Financial data will include
projections on income and capital expenditures.
Provides a brief description of how this business will make money. Financial data will include projections on income and capital expenditures.
Grammar and Mechanics
The Business Plan is well written without grammatical errors.
The Business Plan is well written with several minor grammatical errors.
The Business Plan is written with some grammatical and spelling errors.
HO #6 Rubric: Oral Presentation
Category 4 3 2 1
Content Student presentations provided a clear summary of their business plan, company
description, market analysis, and their financial
projections. Visuals provided were accurate and appropriate, supporting the presentation.
Student presentations provided a clear summary of their business plan, company description, market analysis, and/or their financial projections. Visuals provided were accurate and appropriate, supporting the presentation. Student presentations provided a clear summary of their business plan, company description, market analysis, and/or their financial projections. Visuals provided did not support the presentation or were
inaccurate.
Student presentations provided a clear summary of their business plan, company description, market analysis, and/or their financial projections.
Preparedness Students are completely prepared for presentation and have obviously rehearsed. Students seem prepared, but might have needed a bit more rehearsal.
Students seem somewhat prepared but it is clear that rehearsal was lacking.
Students do not seem at all prepared to present.
Speaks Clearly Speaks clearly and distinctly throughout entire presentation. Speaks clearly and distinctly throughout most of the presentation. Speaks clearly and distinctly through some of the presentation.
Often mumbles or cannot be clearly understood.
Category 4 3 2 1 Marketing The advertisement
or commercial is created in a medium that is appropriate for the targeted market. The advertisement or commercial is engaging and “sells” the product/ service
appropriately to the target market.
This
advertisement or commercial is created in a medium that is appropriate for the targeted market. The advertisement or commercial “sells” the product/service but may not be engaging.
This
advertisement or commercial is created in a medium that is appropriate for the targeted market. The advertisement or commercial doesn’t provide a message that “sells” the product/service.
The
HO #8 Peer Review Feedback
Feedback for (Group Name)__________________________________________________________ Business Plan:
What points does this group need to take into consideration with their business plan? What concerns or questions do you have about this group’s business plan?
Advertisement:
Does this advertisement provide an engaging message that “sells” this business’s product or service to the targeted market? Why or why not?
Investment:
Would you invest in this group’s business? Why or why not? What suggestions would you make to improve this group’s business plan?
Other:
