© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1 MARKETING, 4E CHAPTER 21 Entrepreneurship Participating Event Purpose The purpose of the Entrepreneurship Participating Event (Creating an Independent or Franchising Business) is to provide an opportunity for the participant to develop and present a proposal to form a business. It provides an opportunity for participants to develop and demonstrate mastery of essential skills as they apply to analysis of a business opportunity, development of a marketing/promotion plan, and development of a financial plan.

© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 2 MARKETING, 4E CHAPTER 21 Entrepreneurship Participating Event Scenario Operating a business requires adequate financing, research, support, and hours of work. You will prepare a proposal to form a business. Your presentation must convince the judge to invest in your idea. The business plan should convince financial institutions and/or venture capitalists to invest money in your idea.

© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 3 MARKETING, 4E CHAPTER 21 Entrepreneurship Participating Event Description The body of the written entry must be limited to 10 pages, not including the title page and the table of contents. Participants will have 15 minutes to present and defend their business prospectus to the judge. The judge has an additional 5 minutes to ask the participants questions about their business plan. After conducting research, participants must choose an independent or franchise business for a selected location.

© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 4 MARKETING, 4E CHAPTER 21 Entrepreneurship Participating Event Description The written plan will consist of the following sections: Executive Summary Description and Analysis of the Business Situation Proposed Marketing/Promotion Plan Proposed Financing Plan Bibliography

© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5 MARKETING, 4E Performance Indicators Evaluated Analyze the opportunity for starting a business. Interpret financial statements. Take a concept from an idea to a business proposal. Set priorities and demonstrate effective time management. Demonstrate critical thinking/problem-solving skills. CHAPTER 21 Entrepreneurship Participating Event