Young Entrepreneurs Business Plan Contest

If you are a young entrepreneur (13-21 years old), and you would qualify for the Youth Enterprise Booth area at the Christian Family Conference (you need not purchase a booth), and you are NOT a child of someone on the CHEC Board, Conference Committee, or employed by CHEC, you will have the opportunity to have your plan analyzed and critiqued by several successful Christian businessmen.  The owner of the winning plan will receive a cash prize and be announced during the Christian Family Conference. A feature article on the winning business and its owner will appear in the 3rd quarter issue of Update Magazine. 

Entries should include a minimum of:

• Your name and a brief biography of your experience or qualifications
• The name of your business enterprise
• A concise description of the product/service offered. Depending on what your business is, this may require a few sentences to several paragraphs.  This should also include how much time it takes to make your product (how many hours does it take to make one, or how many can you make in a set time), or perform the service
• The Mission or Vision Statement for your business
• A Statement of Purpose- Why did you begin this enterprise?
• A synopsis of your exploration process- How did you decide on this particular product/service? Was this something you have always been interested in; did you see a need that you could fulfill; did someone suggest this to you seeing that you had a talent, etc
• A summary of your 1, 3 and 5 year goals for your business. This will address how you plan to grow your business, and what you will need to do to grow with your business. Will you be able to make more or do more in less time?  Will you expand advertising; will you need employees or contractors; will you need an increase in operating space, etc.
• How is your family involved in your business?
• Capital and Operating Budget for the next 2 years to include beginning capital, detailed operating expenses, and profit. Where is your breakeven point?
• Sources and Uses of Funds- How did you (do you) plan to raise the capital for your business to see it through start up and 2 years of operation?
• Summary of your marketing plan- branding, logo, customer prospecting and retention
• What are your plans for the profits from your business?
• What lessons has God taught you from the process of preparing this plan? If you are already operating your business, what have you learned from your experience of starting and running it?
• What mistakes have you made and how will you/did you correct them?
• Who counsels you about your business? What counsel have you received, and how have you utilized it?

Entries are to be printed and sent to the address below with a postmark no later than May 31. Entries will be judged by successful Christian businessmen and returned with written comments at the Conference. Please make arrangements to take your business plan home with you at the end of the conference.

Submission mailing address for hard copies:

Mr. Chris Galanek

Youth Vendors

3829 East Kettle Ave.

Centennial, CO 80122