Refers to owning, organizing, and managing your own business by providing a necessary product or service.
- Only one (1) business plan may be submitted per student.
- Six (6) copies of a typed 8-½-inch by 11-inch double spaced business plan must accompany the project. The business plan, which should be a minimum of ten (10) pages and not to exceed twenty (20) pages, should include a cover page, executive summary, company description, a marketing plan, a management plan and a financial plan, in addition to any supporting documents (i.e. graphs, photographs, statistical data). The student’s name, page number and branch must be at the top of each page. The six (6) copies must be submitted on or before the specified deadline.
- The contestant is required to make an oral presentation, not to exceed five (5) minutes, explaining his/her business plan.
- A visual presentation in the form of a display, slide show, overhead or PowerPoint presentation should be provided.
- Contestants should be familiar with business terminology in general and about terminology related to their selected product/service.
- Contestants are required to have personally conducted the business plan analysis and have been involved with the production of any prototype product or service trials.
- The NAACP ACT-SO Program will provide electrical power and an LCD projector. Contestants must provide a laptop.
No materials or copies will be accepted at the National Competition.
Contestants Will Be Judged By The Following Criteria:
· Written Business Plan (75 points)
1. Marketing Strategy (15 points)
2. Management Plan/Personnel Profiles (10 points)
3. Financial Plan (15 points)
4. Market Research & Analysis (10 points)
5. Government Requirements (5 points)
6. Product/Service Knowledge (10 points)
7. Customer Service Plan (5 points)
8. Creativity/Originality (5 points)
· Oral Presentation (20 points)
1. Comfort Level of Product/Service Knowledge (10 points)
2. Social Responsibility/Contribution to the Community (5 points)
3. Presentation Style (5 points)
· Visual Presentation (5 points)