Business Plan Format (5 points)
The business plan will include the cover page and the business plan.
The business plan is limited to 5-pages of typed text, with a 12-point font. The
cover page is not counted in the total number of pages. The cover page must include the: (1) teacher advisor's name, (2) student names, (3) contact information (including e-mail, telephone, address, school name, and the name of the company).
Company Overview (5 points)
Includes a mission (what you want to do),
company history, goals, objectives (where do you want your business to be three months from today), and the backgrounds and roles of the management team
Product or Service Description (5 points)
Describes the product, its features and benefits, and explains why the product is better than that of the competitors.
Marketing Strategy (5 points)
Defines who your target market is.
Financial Understanding (5 points)
Includes: (1) a statement of what funds you will need and (2) an income
statement.
Innovation/Creativity (5 points)
Presents an opportunity to turn and ideas into new products or services for a business.
Marketing Piece (30 points)
Describes the product, its features and benefits, and explains why the product is better than that of the competitors. Also defines the price of the product, where the product will be sold, and how the product can be purchased.
Other elements of the marketing piece: innovation/creativity and visual appeal.
Booth Display (45 points)
Elements of booth design: Color, lighting, signage, and focus.
Elements of display: Focus, features and benefits, props, streamlined, student presentation (as members of the team/company, did the students present themselves and their product well?).
Q: What is an entrepreneur?
A: An entrepreneur is someone that organizes, manages, and assumes the risk of a business or enterprise. [back to faq]
Q: Why should I enter the competition?
A: By developing a business plan, making and selling your product, you get to apply what you learned in school to the real-world. A lot of students also tell us that it's nice to be able to put your ideas on a piece of paper and have adults look at them, especially when the adults think the idea is good enough to be a business one day. [back to faq]
Q: Do I have to have a teacher to sponsor me into the competition?
A: Yes, having a teacher advisor is required to enter. This is important because your teacher will be able to help you as you go through and create your business plan. [back to faq]
Q: Where do I go if I need help on my business plan?
A: If you need help, you should ask your teacher advisor. They can help guide you through the process and answer any questions you may have. [back to faq]
Q: How long does it take to write a business plan?
A: Writing a business plan and creating concept that can make money does not happen overnight. In a classroom setting, teachers usually give the students a whole semester to write a business plan. [back to faq]
Q: The rules state that "non-profit organizations are not eligible" to enter the competition. What do you mean by this?
A: Non-profit organizations usually serve a public need and do not look to make a profit. The money to keep these organizations in business usually comes from donations. Examples of non-profit organizations include charity drives and soup kitchens. [back to faq]
Q: What are some examples of 'innovation'?
A: The rules define innovation as 'turning ideas into new products or services for a business.' Examples of this include: Clorox's Toilet Wand, Apple's iPod, and 3M's Post-it Notes. [back to faq]
Q: What are the expectations of students for Y.E.S.?
A: Each team is expected to conduct themselves in an ethical manner. The business plan must also represent the original work of each contestant.
For Round 1, the end result for each team should be one business plan that follows the guidelines
(see Official Rules and Requirements).
For Round 2, the top 25 teams will be required to product a marketing piece, produce products for sale, and to display the product based on the guidelines. [back to faq]
Q: The loan sounds like a great idea, but what if I don't make enough profit to repay Regions Bank?
A: If you were to take a loan from the Bank in real-life, then you would
have to pay it back even if you make enough profit to cover the full loan
amount. This loan is a little different. Regions Bank will require you to
repay the money if you make the money back at the expo. If you do not, then
they will forgive your loan and you will not have to repay it. For example,
if you take out a loan of $100 and only make $70 in sales, then Regions Bank
will expect you to repay the $70 you made in sales from the Expo, but they
will not require you to pay back the remaining $30.
This is an optional loan. You do not have to take out a loan to be in
Round 2. The great thing about doing this is that you get to learn about the
loan process, which is something you may eventually do as a business owner.
[back to faq]
Q: If I enter the competition, can someone take my concept?
A: The judges who will look at your concept are there solely to judge. AEAF selects judges who we feel have the best interest of the student's in mind. We cannot guarantee that the judges will not talk about the concept. They will have to in order to judge for the competition, but we can say that in most business plan competitions, this usually does not happen. [back to faq]
YES! Student Flyer
Intent-to-Compete Form