Business Models & Planning

Unit: Entrepreneurship in Action

Lesson 8 of 12

Duration: 60 minutes

Year Level: 5-6

Class Size: 110 students

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Learning Objectives

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

• Understand different types of business models and their purposes.
• Explain the importance of having a business plan.
• Create a simple business model canvas to map out their entrepreneurial ideas.

Aligned with the Australian Curriculum v9, this lesson primarily addresses:

• HASS (Humanities and Social Sciences) - Economics and Business Years 5 & 6
• Technologies - Design and Technologies Years 5 & 6

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Curriculum References

• AC9HS5S02: Locate, collect and organise information and data from primary and secondary sources (supportive research and planning skill).
• AC9TDE6P05: Develop project plans including consideration of resources to make designed solutions (business plan development).
• General capabilities targeted: Critical and Creative Thinking, ICT Capability, Personal and Social Capability.

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Lesson Outline

1. Introduction (10 minutes)

Goal: Set context and spark interest in business models and planning.

• Begin with a lively discussion: "What is a business model?" and "Why do businesses need a plan?"
• Use relatable, age-appropriate examples: lemonade stand, school canteen, or a popular toy store.
• Show a simplified version of a business model canvas, explaining it as a "map" for how a business works.
• Link to prior lessons on entrepreneurship focus (connecting with their previous entrepreneurial ideas).

Teaching tip: Use a large visual poster of a business model canvas for the whole class to see, breaking down each section simply.

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2. Exploring Business Models (10 minutes)

Activity: Class brainstorm and categorisation

• In groups of 10-12 (due to large class size), students brainstorm different types of businesses they know (e.g., product-based, service-based, online shop, franchise).
• Each group shares one example, and teacher writes them on the board.
• Teacher briefly explains four simple types of business models appropriate for Year 5-6:
  1. Product-based business (selling goods)
  2. Service-based business (offering help or services)
  3. Subscription or membership (pay regularly)
  4. Marketplace or platform (connecting buyers and sellers)

Curriculum link: Encourages students to make connections between business types and real-world examples, fostering economic understanding.

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3. Understanding the Business Plan (10 minutes)

Goal: Why planning matters and what goes into a plan.

• Explain the purpose of a business plan: so entrepreneurs think ahead — what will they sell, who will buy, how much it costs, how will they promote it.
• Highlight key elements of a simple business plan: product/service, target market, costs, pricing, resources required.
• Use children's language and a succinct checklist poster.
• Share a short story or case study of a student entrepreneur who succeeded because they planned well.

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4. Creating a Simple Business Model Canvas (25 minutes)

Activity: Individual or small group work

• Provide each student (or small groups of 2-3) with a blank Business Model Canvas template adapted into simple sections:
  • What product/service?
  • Who are the customers?
  • How will you make money?
  • What resources do you need?
  • What helps you make and sell your product?
• Students fill out the canvas for their own entrepreneurial idea (can refer back to ideas from earlier in the unit).
• Teacher and assistants circulate to support, prompting students with questions to deepen thinking.

Teaching insight: Using a visual and familiar canvas helps students organise ideas systematically—developing planning and problem-solving skills.

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5. Sharing and Reflection (5 minutes)

Goal: Reinforce learning and encourage peer feedback.

• Invite a few volunteers to briefly share their business model canvas highlights to the class.
• Ask quick reflection questions:
  • What was the easiest part to think about?
  • What was harder to plan?
  • Why do you think business planning is important?

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Assessment & Follow-up

• Formative assessment through observation of group discussions and completed canvases.
• Collected canvases will be used to check understanding of key concepts (business types, customer focus, resources).
• Next lesson to build on these ideas for marketing and budgeting, linking to curriculum competency in financial literacy (planned in subsequent lessons).

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Resources Required

• Large poster or projector of simplified business model canvas.
• Printed individual business model canvas templates.
• Whiteboard or chart paper for brainstorm session.
• Markers, pens, sticky notes.
• Case study example (can be teacher-created or simplified student entrepreneur story).

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Classroom Management Considerations for Large Class (110 students)

• Use group work and assign roles (e.g., scribe, speaker, researcher) to keep all engaged.
• Employ visual and movement breaks to maintain focus.
• Have assistants or parent volunteers help facilitate during canvas work phase.

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Teacher’s Notes: Wow Factor

• Introduce an entrepreneurial “shark tank” style element in future lessons, where students pitch their canvases — build excitement and relevance.
• Incorporate technology by creating digital versions of the canvas (if resources permit) using simple online tools or Google Slides for collaboration.
• Relate planning to students’ lives: planning a party, organising a fundraiser, or designing a school event.

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By weaving the curriculum elements into a hands-on, collaborative lesson, students develop both economic understanding and practical skills tied directly to the Australian Curriculum v9 content descriptions, especially in HASS - Economics and Business and Technologies - Design and Technologies for Years 5-6.