Business Planning

Lesson Overview

Year Level: Year 5
Subject: Business Studies
Unit: Understanding Needs & Profits (Lesson 7 of 8)
Curriculum Area: Social Sciences – Economic World (NZ Curriculum Level 3)
Lesson Duration: 60 minutes
Class Size: 25 students

Achievement Objective:

Students will understand how people make choices based on needs, wants, and available resources by developing a simple business plan that outlines a product or service, target market, and potential profit.

---

Learning Outcomes

By the end of the lesson, students will:

• Identify a product or service that meets the needs and wants of consumers.
• Recognise how pricing and costs affect business profits.
• Outline a simple business plan explaining their idea, target market, and projected profits.

---

Lesson Structure

1. Introduction – Setting the Scene (10 mins)

Engagement Activity:

• Start with a quick class discussion:
  • What businesses do you see every day in your community?
  • How do businesses decide what to sell?
• Introduce the challenge of the lesson:
  • “Today, you will be young entrepreneurs and create your own business plan!”

Teacher Explanation:

• Display the three key questions that every business must answer:
  1. What am I selling?
  2. Who am I selling it to?
  3. How will I make money?

---

2. Group Work – Business Brainstorm (15 mins)

Activity:

• Divide class into small groups of 3–4 students.
• Each group chooses a business idea that fits into one of these categories:
  • A new snack or drink for school lunches
  • A fun school stationery item (e.g., scented erasers, pop-it rulers)
  • A service for classmates (e.g., lending library for toys, lunch delivery)
• Groups complete a quick brainstorming worksheet (provided by teacher) covering:
  • Product/Service Name
  • What problem does it solve?
  • Who is the target market? (e.g., students, parents, teachers)

Teacher Circulation:

• Walk around, ask probing questions:
  • Why would someone buy this?
  • What makes your idea different?

---

3. Business Plan Development (20 mins)

Activity:
Each group creates a simple business plan, outlining:

• Product/Service Description
• Target Market & Why They Would Buy It
• Basic Cost & Pricing Analysis (How much will it cost to make? How much will we sell it for?)
• Profit Projection (How much could we earn if we sell 10 items? 50 items?)

Teacher Guidance:

• Provide pre-made templates for groups to fill out.
• Encourage students to think about numbers realistically (e.g. "If each pencil case costs $2 to make and we sell it for $5, how much profit do we make per sale?").

---

4. Business Showcase & Reflection (15 mins)

Mini-Presentations (10 mins):

• Each group pitches their business idea to the class in 1–2 minutes.
• Encourage peers to ask ‘investor questions’ (e.g., "What makes your business different?").

Class Reflection Discussion (5 mins):

• What was the biggest challenge in creating a business plan?
• If you could change one thing about your idea, what would it be?
• What did you learn about how businesses work?

---

Assessment & Teacher Feedback

• Observation: Teacher moves through groups, assisting & asking questions.
• Business Plan Review: Groups submit their simple business plan template for teacher feedback.
• Self-Assessment: Students complete a quick exit-slip answering:
  1. What was your favourite part of today’s lesson?
  2. One thing I learned about businesses is...
  3. One challenge my group faced was...

---

Resources & Materials

• Brainstorming Worksheet (Business Idea Template)
• Business Plan Template (Includes product/service, target market, pricing basics)
• Whiteboard & Markers for class discussions

---

Teacher Reflection Notes

• Did students actively engage in the business brainstorming activity?
• Were they able to articulate cost, pricing, and potential profit?
• How might I adapt this for Lesson 8 (Final Business Showcase)?

---

Next Lesson Preview – Lesson 8: ‘The Business Pitch’

In the final lesson, students will refine their business plans and present them as a Shark Tank-style pitch to an ‘investment panel’ (peer-judging or teacher-led).

---

This lesson is age-appropriate, engaging, and aligns with the NZ curriculum focus on economic choices and financial literacy in Level 3 of Social Sciences. It encourages critical thinking, teamwork, and real-world problem solving. 🚀