Making a Simple Plan · seed 1 · A4, ink-friendly. The answer key prints on its own page for grown-ups.

Making a Simple Plan

Life Skills · Entrepreneurship · ages 7-9
Name ______________________   Date ____________

  1. Which of these is one of the four questions in a simple business plan?

    • What is my favorite color?
    • What price will I charge?
    • What day of the week is it?

  2. What does a simple business plan help you figure out?

    • What you'll sell, who will buy it, what you need, and your price
    • What to wear each day
    • What TV show to watch

  3. A simple business plan includes the price you will charge.

    Circle one:   True   False

  4. Priya wants to open a lemonade stand this weekend, but she hasn't thought about who will buy it or what she needs. What should she do first?

    • Make a simple plan first
    • Start selling and figure it out later
    • Just pick a price and start

  5. Leo wants to sell dog treats. His plan lists flour, cookie cutters, and bags as what he needs. How many things does his plan say he needs?

    • 1
    • 2
    • 3

  6. Sam sells paper airplanes. Each one costs him $1 to make. He charges $3 each. How much money does Sam earn for every airplane he sells?

    Cost1Price3

    Answer: ______________

  7. Ben plans to sell painted rocks. His list of things he needs has paint, rocks, and brushes, but he forgets bags for customers to carry rocks home. What should Ben do?

    • Ignore it and sell anyway
    • Cancel his whole plan
    • Add bags to his list of things he needs

  8. Ana grabs ingredients and starts baking cupcakes right away, without thinking about who will buy them or what price to charge. What did Ana skip?

    • Nothing, she's ready to sell
    • Deciding on her customer and her price
    • Buying too many ingredients
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Answer key

For grown-ups. Fold this page away before handing over the rest.

Making a Simple Plan W1-mt_phpn6KhCAv-s1

  1. What price will I charge? · Price is one of the four plan questions, along with product, customer, and supplies.
  2. What you'll sell, who will buy it, what you need, and your price · A plan covers what you sell, your customer, your supplies, and your price.
  3. True · Yes. Price is one of the four things a plan covers.
  4. Make a simple plan first · Planning first helps Priya avoid running into trouble once she starts selling.
  5. 3 · Leo's plan lists three things: flour, cookie cutters, and bags.
  6. 2 · Price minus cost: $3 minus $1 leaves $2 earned per airplane.
  7. Add bags to his list of things he needs · A good plan gets updated whenever you think of something new you need.
  8. Deciding on her customer and her price · Ana jumped straight into making cupcakes without planning her customer or her price.
Worksheet · LightMySky