FTC:Business Plan
The business plan has multiple important uses. Teams use the business plan to organize their season and goals, and potential sponsors can reference the plan to gain more insight into the team. Business plans can include sections such as:
- About the program
- Season budget
- Past team accomplishments
- Upcoming season goals
- Perks for the sponsors.
A good business plan will be neatly organized and detailed without adding fluff or filler information.
Business Plan Sections
About the Program Companies want to know what they are investing in, so it is important to include a section in the business plan that explains the program, both about FIRST and the specific program the team is in. Giving an overview of FIRST helps the audience understand more about youth robotics. The program information can include general information about gameplay, rules, and tournaments.
A Season Budget
Competing in FTC can be expensive, and it is a good idea to let potential sponsors know where their donations are going. Since these companies may not know much, if anything, about the program, they might not know what the large budget is being spent on. This doesn’t have to be your full detailed budget, but a sectioned, paired-down version so it is easy to understand.
Past Accomplishments It is important for teams to include their past accomplishments in their business plan since this gives potential sponsors more information about the team they would be supporting. These can include awards at past tournaments, outreach events and numbers, and anything else that the team is proud of accomplishing. Rookie teams can add this section after they have had some competitions or experiences to talk about.
Upcoming Season Goals
Including a section on team goals shows potential sponsors that the team has a plan for how they will continue to improve, and allows companies to see if the goals are ones they would like to support. It also shows how much work the team is putting into the program.
Perks for Sponsors
When asking companies for funding, it can be a good idea to offer them benefits for funding the team, such as featuring their logo on the team’s robot or website. This will make companies more likely to sponsor the team and is a great way to show appreciation.
Writing Tips
Tone
The tone of a Business Plan should be professional and friendly. Reading the Business Plan is often the first way companies or sponsors will get to know a team. It is important to have a personality while still coming across as confident and knowledgeable. This can best be shown through word choice and organization. Make sure the Business Plan looks professional and clean by using full sentences and little slang.
Know the Audience
When writing the Business Plan it is important to remember who the audience is. The Business Plan will mainly be sent to companies who likely have little experience with FIRST or youth robotics. Knowing this will help the author appeal to them. Use professional phrasing and organization since they are a company. Make sure to explain the program and what you do so an everyday person understands the context of FIRST. Also, make sure the team comes across in a very positive way as the Business Plan is a formal introduction.
Business Plan Sustainability
The Business Plan is not a document that is written once and then left alone. It needs to be updated at least once per season with the team's growth, new goals, and season information. Make sure that the revisions fit with the flow of the business plan. The whole thing should be a good representation of the team while still being concise. This is the document you will send to companies and sponsors so it should be as up-to-date and accurate as possible.
