Business Plan ContestFall 2012/Spring 2013
Hello and welcome to UW-Whitewater’s Official Business Plan Competition page!
Introduction to the Business Plan Contest
The Business Plan Competition was started in the spring of 2007 by a small group of dedicated CEO members with one idea in mind, to help student entrepreneurs by providing them with a means to realize their ideas and goals. Now in its seventh year, we as CEO are looking to make The Business Plan Competition as big as possible. The contest is open to students of all majors. At least one person in the team must be a full-time student at UW-Whitewater. The Warhawk Business Plan Competition was originally modeled after the Governor’s Business Plan Competition, where a simple idea is taken and developed into a full business plan by the end of the semester.
Stage One – The Idea*
Due Date December 5th at 11:59pm
- Submit a 250 word abstract to firstname.lastname@example.org
- You will be judged on the following criteria:
1. Product/ Service Description 25 points
- Describe your product or service and it’s benefits to a customer
- Describe how your product/service fulfills needs better than existing alternatives
2. Market Potential 25 points
- Specify your Customer
* You can submit as many ideas as you like for the first round, however, if more than two of your ideas make it past the second round of judging, you must select only one.
Stage Two –Definition
Due Date January 23rd at 11:59pm
Stage Two submissions are more definitive of the idea, and should help you refine your concept further.
- 2-minute Video of Executive Summary
- You will be judged on the following criteria
1. Company Description 25 points
- A description of your business (including mission and vision statements), evidence and/or arguments to support the description of how your idea will meet/satisfy the needs/wants of those who will benefit
2. product/Service Description 25 points
- A description of those who will benefit from your product or service and how much they might pay to satisfy this need/want, and a description of how the product or service can be delivered to those that will benefit.
3. Market analysis 25 points
- Give information on the total number of potential customers for the product/service, the frequency of the purchase of it by your customers, and the industry dollar value of the potential market of segments.
4. Competitive analysis 25 points
- Explain how you will enter the market, and how you will react to competitive threats.
Stage Three –Full Business Plan
Due Date April 9th (Tentative) from 4:30pm-9pm
- Presentation of Business Plan by Top 6 Contestants
- You will be judged on the following criteria
Stage Three Submissions are to be submitted as full business plans, and the following format taken from the SBA (Small Business Administration) website is the format that should be used and is as follows:
Writing The Plan
What goes in a business plan? The body can be divided into four distinct sections:
1) Description of the business
Agenda should include an executive summary, supporting documents, and financial projections. Although there is no single formula for developing a business plan, some elements are common to all business plans. They are summarized in the following outline:
Elements of a Business Plan
1. Cover sheet
2. Statement of purpose (executive summary)
3. Table of contents
I. The Business
A. Description of business
D. Operating procedures
F. Business insurance
II. Financial Data
A. Loan applications
B. Capital equipment and supply list
C. Balance sheet
D. Breakeven analysis
E. Pro-forma income projections (profit & loss statements)
F. Three-year summary
G. Detail by month, first year
H. Detail by quarters, second and third years
I. Assumptions upon which projections were based
J. Pro-forma cash flow
III. Supporting Documents
A. Tax returns of principals for last three years Personal financial
statement (all banks have these forms)
B. For franchised businesses, a copy of franchise contract and all
supporting documents provided by the franchisor
C. Copy of proposed lease or purchase agreement for building space
D. Copy of licenses and other legal documents
E. Copy of resumes of all principals
F. Copies of letters of intent from suppliers, etc.
1. The business plans will be limited to 20 pages. Financial Data should follow the text of the plan and be limited to 10 pages. All plans are to be typed, and a minimum of 12-pitch font. Plans for the final presentation must be bound with a title page including company name and logo.
2. The plans are judged according to viability as an enterprise; originality; market potential; social impact; completeness; mechanics; attractiveness as an investment or donation.