Entrepreneurship Assignment Worksheet
At this stage in your business plan you should know your business name, location, target audience, competitiveness, pricing strategy, and start-up costs. This
assignment is designed to help you formulate the above ideas into your business plan. Complete the following form (and answer the questions) to the best of your
ability. Once completed you will have a good framework for your business plan.
Part I - General Details
Business Name: ____________________________________________________________________________________________________________________
Location: ____________________________________________________________________________________________________________________ Target
Audience:
Who do you think will come to your business?
____________________________________________________________________________________________________________________
Who do you want to come to your business?
____________________________________________________________________________________________________________________
What age group and gender are you aiming for?
____________________________________________________________________________________________________________________
What income level are you aiming for?
____________________________________________________________________________________________________________________ Competitiveness:
Are there competitors? ____________________________________________________________________________________________________________________
Who are your major competitors? What are their strengths and weaknesses?
____________________________________________________________________________________________________________________ Are you planning to
compete directly with another business - that is doing exactly what they do? If so how are you planning to do this?
____________________________________________________________________________________________________________________
Do you see yourself as a market leader or follower? Explain.
____________________________________________________________________________________________________________________
Is the market big enough for you and the competitors already out there?
____________________________________________________________________________________________________________________
Do you want to be located close to or far away from your competitors? Explain Why.
____________________________________________________________________________________________________________________
Can the competitors drive you out of business? Why or why not?
____________________________________________________________________________________________________________________ Pricing Strategy:
Are you planning to price low and therefore must sell many items to cover costs?
____________________________________________________________________________________________________________________
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Are you planning to price high and therefore only need to sell a few items to cover costs?
____________________________________________________________________________________________________________________
Will you be pricing above, below, or at the competition price?
____________________________________________________________________________________________________________________
If you are selling goods - what is you profit margin or percentage of mark-up?
____________________________________________________________________________________________________________________
Will you offer discounts? Why or why not?
____________________________________________________________________________________________________________________
Will you reward loyal customers?
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How are you planning on recording sales? (cash register, computer, by hand)
____________________________________________________________________________________________________________________ Start - Up Costs:
What are your construction or renovation costs - including mortgages?
____________________________________________________________________________________________________________________ What are the costs of
supplies, materials, inventory that you need to have on hand for opening day?
____________________________________________________________________________________________________________________ How much money are
you going to spend on promotions before you open for business?
____________________________________________________________________________________________________________________ How much money are
you going to spend on promotions while your business is open?
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