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Financial literacy activity

Create a Business Plan

Plan a pretend business! Would you run a pet shop, bakery, or toy store? Draw your store, decide what to sell, and pick a name for your business.

DiscussionAbout 25 minutesMay use a screenParent help expected

Materials and setup

How this changes by age

Pre-K (ages 3–4)

Plan a pretend business! Would you run a pet shop, bakery, or toy store? Draw your store, decide what to sell, and pick a name for your business.

Difficulty 1 of 3

Steps

  1. Grab paper and crayons and draw a big picture of your dream store. (Ask: 'If you could have any store in the world, what would you sell?') Show what is on the shelves!
  2. Pick a name for your business and draw a sign.
  3. Decide on 3 things you would sell and how much each costs (1, 2, or 3 coins).
  4. Tell a family member about your business: what you sell and why people would come.

Learning objectives

  • Imagine and describe a simple business concept
  • Assign names and prices to products
  • Practice explaining a business idea to someone else

Kindergarten (ages 5–6)

Write a simple business plan on paper! Choose what to sell, list what you need to start, figure out how much money you need, and draw your store setup.

Difficulty 2 of 3

Steps

  1. Choose a business idea: What will you sell? Who will buy it?
  2. Make a supply list: What do you need to start? How much does each thing cost?
  3. Add up your startup costs. How much money do you need to begin?
  4. Set prices for your products. Will you make money after paying for supplies?
  5. Draw a picture of your business setup and present your plan to family.

Learning objectives

  • Create a basic business plan with product, supplies, and costs
  • Calculate startup costs by adding supply prices
  • Understand that a business must earn more than it spends

Early elementary (ages 6–8)

Write a structured business plan with sections: Business Name, Product/Service, Target Customer, Startup Costs, Pricing, and How You Will Get Customers. Include a simple financial projection.

Difficulty 2 of 3

Steps

  1. Choose a realistic business a kid could run: dog walking, tutoring, crafts, baked goods, yard work.
  2. Fill in each section of your business plan template: Business Name, What You Sell, Who Buys It, Why They Need It.
  3. List all startup costs and ongoing costs. Calculate the total investment needed.
  4. Set your prices and estimate: 'If I get 5 customers per week at $3 each, I earn $15/week.'
  5. Write a marketing plan: How will people find out about your business? (Flyers, word of mouth, signs)
  6. Create a 12-week financial projection: Week 1 income, expenses, and running total.

Learning objectives

  • Structure a business plan with standard sections
  • Distinguish between startup costs and ongoing expenses
  • Create simple financial projections with revenue estimates
  • Develop a basic marketing strategy

Upper elementary (ages 8–10)

Develop a comprehensive business plan that could be presented to a supportive family panel. Include market analysis, competitive advantage, financial projections, risk assessment, and a growth strategy without turning it into a professional investor packet.

Difficulty 3 of 3

Steps

  1. Choose a business idea and research: Does a similar business exist? What would make yours different or better?
  2. Write an Executive Summary: one paragraph describing your business, your unique value, and your goal.
  3. Market Analysis: Who is your target customer? How big is the market? What do competitors charge?
  4. Financial Plan: Create a spreadsheet with startup costs, monthly expenses, revenue projections for 6 months, and break-even point.
  5. Risk Assessment: List 3 things that could go wrong and your plan for handling each one.
  6. Growth Strategy: How would you expand if successful? More products? More locations? Online sales?
  7. Compile everything into a written business plan (1-2 pages plus charts) and present it to your family as if they were supportive reviewers.

Learning objectives

  • Write a comprehensive business plan with professional sections
  • Conduct market analysis and competitive research
  • Create detailed financial projections with break-even analysis
  • Assess business risks and develop contingency plans

Safety and evidence note

Read the full activity before beginning. An adult should supervise tools, heat, food, outdoor work, movement, and experiments as appropriate. Completion records that the activity was done; the child’s explanation, work sample, photo, or demonstration is stronger evidence of learning than a completion check alone.

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