BUSINESS PLAN PROJECT
Business plans are an effective tool for evaluating, organizing, and selling a new business concept. A well-developed business plan can be a key component of a successful business start-up. Business Plan provides members with the opportunity to prepare a business plan. This competitive event consists of a pre-judged report only on the state level.
Event Overview
Division: High School
Event Type: Team of 1, 2 or 3 members
Event Category: Pre-judged Report only on the state level
Event Elements: Pre-judged Report
Pre-judged Component: 17-page report due by date specified in the State Conference registration packet
NACE Connections: Career & Self-Development, Critical Thinking, Communication, Leadership, Professionalism, Teamwork
The business must not have been in operation more than 12 months.
District/Region/Section
Check with your District/Region/Section leadership for District/Region/Section-specific competition information.
State
Eligibility
· FBLA membership dues are paid by 11:59 pm Eastern Time on December 1 of the current school year.
· Members may compete in an event at the State Leadership Conference (SLC) more than once if they have not previously placed in the top ten of that event at the National Leadership Conference (NLC). If a member places in the top ten of an event at NLC, they are no longer eligible to compete in that event.
· Members must be registered for the SLC and pay the state conference registration fee in order to participate in competitive events.
· Members must stay in an official FBLA hotel in order to compete.
· Each district may be represented by participant(s) based on the Florida FBLA scaled quota system found on the Florida FBLA website.
· Each competitor can only compete in one individual/team event and one chapter event (American Enterprise Project, Community Service Project, Local Chapter Annual Business Report, Partnership with Business Project).
· Only competitors are allowed to plan, research, prepare their pre-judged component.
· All members of a team must consist of individuals from the same chapter.
Recognition
· The number of competitors will determine the number of winners. The maximum number of winners for each competitive event is 5.
Event Administration
· Pre-judged Report: The Business Plan
o Submission Deadline: A PDF of the report must be uploaded in the conference registration system by the date specified in the State Conference registration packet.
o Number of Pages: The report will be no more than seventeen (17) pages.
o The first page (front cover) should include the name of school, competitor names, state, name of the event, and school year (2023-24) on the cover.
o The second page must include a table of contents and each page must be numbered.
o Divider pages and appendices are optional and must be included in the page count.
o Competitors must prepare reports. Advisers and others are not permitted to write reports. Reports must be original, current, and not submitted for a previous NLC.
o Pages must be formatted to fit on 8 ½” x 11” paper.
o The report is pre-judged before the SLC.
o Pre-judged materials will not be returned. Reports submitted for competition become the property of FBLA. These reports may be used for publication and/or reproduced for sale by FBLA.
o Facts and data must be cited and secured from quality sources.
o Reports will follow this sequence, mirroring the rating sheet:
§ Executive Summary: Provides a brief synopsis of the key points and strengths included in the plan.
§ Company Profile: Includes basic details of the business, including an overview, mission statement, location, legal structure and governance, organization and goals.
§ Industry Analysis: Provides an analysis of the larger industry in which the business will belong, analyzes key trends and strategic opportunities in the industry, demonstrates an understanding and awareness of external business decisions.
§ Target Market: Provides a brief overview of the nature and accessibility of the targeted audience. Analyzes the market’s potential, current patterns, and sensitivities.
§ Competitive Analysis: Includes an honest and complete analysis of the business’ competition and demonstrates an understanding of the business’ relative strengths and weaknesses.
§ Marketing Plan and Sales Strategy: Demonstrates how the business’ product or service will be marketed and sold, includes both strategic and tactical elements of the marketing and sales approach.
§ Operations: Provides an overview of business operations on a day-to-day basis, including production processes, physical facility reviews, use of technology, and processes followed to ensure delivery of products or services.
§ Management and Organization: Describes the key participants in the new business venture and identifies human resources the business can draw upon as part of the management team, employee pool, consultants, directors, or advisers. It also portrays the role each will play in the business’ development and discusses compensation and incentives.
§ Long-Term Development: Gives a clear vision of where the business will be in three (3), five (5) or more years. It offers an honest and complete evaluation of the business’ potential for success and failure and identifies priorities for directing future business activities.
§ Financials: Indicate the accounting methodology to be used by the business. Discuss any assumptions made in projecting future financial results. Present projections honestly and conservatively.
§ Appendix: Includes copies of key supporting documents (e.g., certifications, licenses, tax requirements, codes, letters of intent or advance contract, endorsements, etc.).
Scoring
· The report will be pre-judged before the SLC.
· Decisions of the judges are final.
Americans with Disabilities Act (ADA)
· FBLA meets the criteria specified in the Americans with Disabilities Act for all competitors with accommodations submitted through the conference registration system by the registration deadline.
Penalty Points
· Competitors may be disqualified if they violate the Competitive Event Guidelines or the Honor Code.
National
Be sure to see the National guidelines at: https://www.fbla.org/divisions/fbla/fbla-competitive-events/