18. How to create a Business Plan

Objectives

‍

By the end of this lesson, students will be able to:

• Understand what a business plan is and why it is important.
• Identify a problem or market need that their business plan addresses.
• Develop the key elements of a business plan (product/service, target group, resources, costs and revenues).
• Present and defend their business plan in front of others.

0–5 min – Introduction

‍

• Explain what a business plan is and why it matters in entrepreneurship.
• Emphasize how a plan helps turn an idea into a realistic project.
  
  

5–15 min – Mini Lecture

‍
Step 1: Identify the Problem/Need
What problem exists on the market, or what need do we want to respond to?

Step 2: Define the Solution (Product/Service)
What product or service do we offer and how does it solve the problem?

Step 3: Build the Plan – three key elements:

• Target group (Customers): Who is the product/service for?
• Resources: What is needed to start (people, space, materials, knowledge)?
• Costs & Revenue: What are the expenses and how will we make money?
  
  

Example:
‍

Problem: Students often don’t have access to healthy and affordable snacks near school.
Solution: Open a small school snack bar with healthy sandwiches and smoothies.
Plan:

• Target group: students and teachers.
• Resources: 2 student sellers, small school space, ingredients.
• Costs & Revenue: initial cost €200, revenue from sales €1–2 per snack.
  
  

15–35 min – Group Exercise

‍

• Divide students into groups of 3–4.
• Each group gets a worksheet and task to:
  
  1. Choose a problem/need (or receive a predefined idea, e.g., hair salon, IT support, eco-product).
  2. Define the product/service.
  3. Develop a plan: target group, resources, costs and revenues.
• Optional: each group presents their plan briefly (1–2 minutes).

‍

35–45 min – Discussion and Wrap-up

‍

• Reflective questions:
  
  • What was hardest about developing your plan?
  • Did you agree on the target group and resources?
  • Was the plan realistic and achievable?

‍

Assessment

‍

• Informal: observation during group work.
• Optional: short written reflection (exit ticket):
  “What is the most important element of a business plan and why?”
• Evaluation of clarity and logic during presentations.

‍

Tips and tricks

‍

• Use examples from students’ vocations (hospitality, IT, economics, tourism, etc.).
• Visualize the plan as a simple chart (Problem → Solution → Target group → Resources → Costs/Revenue).
• Encourage practical thinking: “Could this actually be implemented?”

Celebrate creativity but stress the importance of feasibility.