Y.E.S. for Arkansas 5th-8th Grade Business Plan Competition

The Results are In!  The Following Teams are the 2019 Y.E.S. for Arkansas Top 25 Finalists!
  1.  Arrangements by Ella, Alpena Elementary School, Alpena
  2.  Stress-Less, Berryville Middle School, Berryville
  3.  Bom-Boms, Berryville Middle School, Berryville
  4.  Phidget Cases, Calico Rock School, Calico Rock
  5.  Bendy Bookmarks, Carlisle Elementary, Carlisle
  6.  Eco Ties, Carlisle Elementary, Carlisle
  7.  Space Rocks, Decatur Middle School, Decatur
  8.  Bow-WOW!, Cutter Morning Star High School, Hot Springs
  9.  The Ball Wall, Pinnacle View Middle School, Little Rock
  10.  Moveable Splint, Christ the King School, Little Rock
  11.  Animation Station, Pinnacle View Middle School, Little Rock
  12.  Sticks and Stones, Pulaski Heights Middle School, Little Rock
  13.  Zesti, The Baptist Preparatory Academy, Little Rock
  14.  SmartCane, Henderson Middle School, Little Rock
  15.  The Pecking Order, Comm Central (Homeschool), Little Rock
  16.  Guardians of the Air Gardens, Seventh Street Elementary, North Little Rock
  17.  Water Bottle Art Wizards, Ridge Road Elementary, North Little Rock
  18.  X-Stinked, Omaha School, Omaha
  19.  Dragon Tears, Omaha School DT, Omaha
  20.  Moore Bow Slings, Midland School District, Pleasant Plains
  21.  Shady Clips, Southwest Middle School, Searcy
  22.  Paw-Fect Treats, Southwest Middle School, Searcy
  23.  Purposeful Pillows, Sheridan Intermediate School, Sheridan
  24.  Go Green Denim, Sheridan Intermediate School, Sheridan
  25.  Sharp Students, Viola Elementary School, Viola
And, These Teams from the Top 25 Will Also Be Competing for “Most Innovative”:
  1.  Stress-Less, Berryville Middle School, Berryville
  2.  Bendy Bookmarks, Carlisle Elementary, Carlisle
  3.  Eco Ties, Carlisle Elementary, Carlisle
  4.  The Ball Wall, Pinnacle View Middle School, Little Rock
  5.  Animation Station, Pinnacle View Middle School, Little Rock
  6.  Water Bottle Art Wizards, Ridge Road Elementary, North Little Rock
  7.  X-Stinked, Omaha School, Omaha
  8.  Moore Bow Slings, Midland School District, Pleasant Plains
  9.  Purposeful Pillows, Sheridan Intermediate School, Sheridan
  10.  Go Green Denim, Sheridan Intermediate School, Sheridan
The public is invited to come see Arkansas’s top 5th-8th grade entrepreneurs in action at the 2019 Y.E.S. for Arkansas Expo Day; Friday, January 25, at Park Plaza in Little Rock! Teams will also be competing for “Best Marketing Piece” and “Best Retail Booth Display.” Find them on Level 3 of Park Plaza from 10:00 a.m. until 12:00!  

Scenes from the 2018 Y.E.S. for Arkansas Expo Day

Arkansas Capital’s Youth Entrepreneurship Showcase (Y.E.S.) for Arkansas 5th-8th grade business plan competition is one of the state’s best ways to introduce young Arkansans to entrepreneurship!

Y.E.S. is free and open to any 5th-8th grade student in Arkansas enrolled in school (public, private, home, virtual). Students in non-classroom-based youth programs are eligible to compete. A teacher or other responsible adult must sign on as team sponsor – and can sponsor multiple teams.

The beginning of the school year is the time to start thinking of business ideas. What product or service in the marketplace is bugging these kids? What solutions do they have – and can they make money?

Business plans are due Friday, November 16. The top 25 teams who enter are automatically invited to compete in the 2019 Y.E.S. for Arkansas Expo Day January 25 in Little Rock. (Pictures above are from the 2018 Expo Day.)

Arkansas Capital created Y.E.S. for Arkansas in 2006 because of the success of its Arkansas Governor’s Cup Collegiate Business Plan Competition, established in 2001. Why not give younger students a chance to experience what entrepreneurs and small business owners go through to launch a business idea … and provide them and their teachers cash incentives to do so?

Since the first Y.E.S. competition, nearly 7,800 Arkansas 5th-8th graders have submitted 2,526 business ideas with $86,850 in cash prizes awarded.

Read more below in “What You’ll Need to Know” – especially the Y.E.S. rules and what information is required for the business plan.

Download a brochure here.  Good luck!

WHAT YOU’LL NEED TO KNOW

SUGGESTIONS FOR GETTING STARTED

Review the Y.E.S. rules, registration information, and more below. Please download and read the Guide for Y.E.S. Business Plan Content Requirements so you’ll be ready to answer student questions throughout the process. Also, be familiar with the required income statement form that will need to be inserted into the business plan before submission.

At the beginning of the school year, challenge your students to think about a product or service currently in the marketplace that bugs them. The product or service doesn’t work or deliver like it should. Could it be improved or delivered in a different way? Is there a need for a new product or service?

What can be done to solve these problems … and how can they make money?

Give this assignment a few weeks, monitoring what ideas are flowing. Begin assessing how teams will be formed to work on business plans for the ideas that are chosen. Y.E.S. encourages teams to have at least two members (the teamwork value). But if a student wants to pursue an idea on his/her own, that’s fine.

NO IDEA IS A BAD IDEA! If you think an idea is crazy, don’t discourage it! If they enter it into the Y.E.S. competition, they’ll find out soon enough. They’ll either figure it out or scrap the idea altogether. This discovery phase is a real-wold lesson in entrepreneurship. Let them own it!

As ideas are formalized and teams are decided, assign the students to start composing the business plan, ideally, no later than mid-October. Be sure they follow the required questions in the Business Plan Content Requirement guide.

Composing the business plan for Y.E.S. is a challenging process. Teams will need to work together and will need guidance to ensure they’re meeting the requirements. Teachers / sponsors may want to consider help from a community partner to mentor students through the process.

Veteran Y.E.S. teachers and sponsors say working on the business plan as a team is where the students’ creativity, critical thinking, communication, problem-solving, collaboration, and teamwork skills shine.

Intents to Compete are due November 9. See “Submitting Intents to Compete” below. Business plans are due November 16 and the Top 25 finalists will be announced December 19, with six weeks to plan for the exciting Y.E.S. Expo Day January 25 in Little Rock.

Good luck!

COMPETITION RULES

  1. The Y.E.S. for Arkansas competition is hosted by the Arkansas Capital’s 501(c)(3) affiliate, the Arkansas Economic Acceleration Foundation (AEAF).
  2. Not every circumstance can be anticipated. Arkansas Capital reserves the right to disqualify any team that violates the rules, regulations, or the spirit of the competition. All Y.E.S. for Arkansas competitors and teachers/sponsors are expected to conduct themselves in an ethical manner.
  3. Y.E.S. for Arkansas is open to any Arkansas student enrolled in grades 5-8 during the 2018-2019 school year. Students can be from public, private, home, or virtual schools.
  4. Team members can be from the same grade or from a combination of grades 5-8.
  5. Student teams should consist of at least 2 and no more than 6 members.
  6. Teams can be from classrooms, after-school clubs and organizations, churches, etc.
  7. All teams must be sponsored by a 5th-8th grade teacher or, in the case of teams from non-classroom-based groups, an adult affiliated with that group. Adults that want to sponsor non-classroom-based teams need to advise Arkansas Capital in advance by emailing or calling Marie Bruno at mbruno@arcapital.com, 501-374-9247.
  8. Teachers/sponsors cannot be a parent or other relative of any team member.
  9. Teachers/sponsors may have more than one team in the competition.
  10. Only one business plan per team can be entered into the competition.
  11. Students cannot be on more than one team.
  12. The business plans must show that the business idea is a for-profit product or service. Nonprofit concepts are not eligible.
  13. The product or service cannot be fictional in nature.
  14. Business plans must represent the original work of the team members.
  15. Team applications, intents to compete, business plan uploads, and judging for Y.E.S. are processed online. The competition database for 2019 will be the YouNoodle platform. See “Y.E.S. Registration Instructions” to get started.

REGISTRATION AND SUBMITTING INTENTS TO COMPETE

To compete in Y.E.S. for Arkansas, teachers/sponsors must register teams online through a new platform this year, YouNoodle.

If you plan to sponsor more than one team, you will be able to register all your teams through this account by creating a brief application for each team.

Go to this exact web address to get started in the YES competition: https://platform.younoodle.com/client/entry-rounds/yes_2019/apply. This is the web address you will use throughout the competition. We suggest you bookmark it. Any other variations used, such as just typing “YouNoodle” into your browser, will not get you where you need to be.

  1. Go to the website. You’ll see a button, “Create An Account”. Click on it and complete the information.
  2. You’ll be taken to a new window with a box, “Create A New Application”. Click on it and complete the information. See under “Team Intent to Compete” that – for the Intents to Compete round – you’re OK if you don’t have complete information for your teams. Please enter something generic in the boxes marked with a * (required answers). This will give us a count as to how many teams to expect as we recruit judges.
  3. Once completed, click “Save”, then click “Next”.
  4. In this window, you have the chance to check your team’s application. Click the “Edit” button to the right if you need to edit, otherwise, click “Submit Application” at the bottom of the page.
  5. The next window is your application confirmation (you’ll also receive an email acknowledging this). You’ll also see a box asking if you would like to participate in a YouNoodle project. This is optional – it is not a requirement of the Y.E.S. competition.
  6. To register more teams, click “Start” in the panel on the left hand side of the screen. You’ll see the application you just submitted and a new box, “Create A New Application”. Repeat from Step 2.

To update team applications after submitting:

  1. Log in to your account. You’ll be taken to your Dashboard window – and you will a box for each of your team’s applications.
  2. Click on the one you need to update.
  3. Scroll down the page until you see a red button, “Unsubmit Application.” Don’t worry, this just unlocks your intent so you can update it – it doesn’t take it out of the database.
  4. You’ll be taken to the team’s application window. Click the “Edit” button at the top right and make your updates.
  5. Once done, click save, then “Submit Application” – you’ll get an “Application Submitted” confirmation page.

Intents are due by the end of the day November 9. Please have all your applications completed as best you can by this deadline. If you still have some incomplete team information, you’ll have a chance to  update it all the way up to when you submit the business plan. That deadline is firm – November 16.

Please see the “Submitting Business Plans” section for instructions on uploading your team/s plans.

BUSINESS PLAN REQUIREMENTS

For more information, download a Guide for Y.E.S. Business Plan Content Requirements.

Business Plan Format, Cover Page, Table of Contents (10 points)

Format:

  • Business plans must be a minimum of 5 pages and no more than 10.
  • The Cover Page and Table of Contents are not included in the page number limits.
  • With the exception of the Cover Page and Table of Contents, all pages must be typed in 12-point Times New Roman or Arial font and pages must be numbered.
  • Spacing between lines in a paragraph and between paragraphs must be 1.5 or double-spaced.
  • Paragraphs must be indented.
  • Page numbers must be included on each page (except the Cover Page and Table of Contents).

Cover Page:

  • The name of the product or service
  • Name(s) of all team members
  • Teacher’s name, title, email address, and phone number
  • School name and full mailing address
  • A photo, drawing, or graphic of the product or service. Please ensure the image is saved as a smaller file before placing it on the cover page.

Table of Contents:

  • Please include this page after the Cover Page.

Contents:

  1. Problem (10 Points)
    Describe the problem in the marketplace. How did the team identify the problem?
  2. Solution (10 Points)
    Give the name of the product or service here and how it will solve the problem. Be specific. How did the team arrive at this solution?
  3. Customers (10 Points)
    Describe who would buy the product or service? Why?
  4. Innovation (10 Points)
    What is innovative about your product or service? Is it new to the marketplace? Explain. If it is not new to the marketplace, explain how it is better than what exists.
  5. Product Details (10 Points)
    How will the product or service be produced or established? What supplies and/or equipment will be needed? Will workers need to be hired? Explain.
  6. Marketing (10 points)
    What is the cost to the customer of the product or service, and how did the team arrive at that decision? Where can they buy the product or service? How will the team promote the product or service?
  7. Statement of Funds Needed (10 Points)
    How much money is needed to start the business? What are the sources?
  8. Income Statement (10 Points)
    Project revenue and expenses for one month. Here are downloadable worksheets to help teams calculate their Income Statements:  PDF Version (Blank), PDF Fillable. If using the fillable form, please save it onto your computer first before you start working on it. If you enter data into the form straight off the link without saving it first to your computer, your data will be lost.

Please ensure plans are proofed for grammar, spelling, punctuation, and proper sentence construction.

Plans will need to be converted to PDF in order to be uploaded to YouNoodle. Please give this PDF document the same name as that of your business. When the conversion is complete, please ensure all pages were properly converted.

Teams will lose points in judging if these requirements are not followed as they are stated above.

SUBMITTING BUSINESS PLANS

  1. Go back to the Y.E.S./YouNoodle web page: https://platform.younoodle.com/client/entry-rounds/yes_2019/apply and log in.
  2. You’ll be taken to your Dashboard page. There, you should a box for your team/s intent/s to compete. Click on the team application that you want to upload a plan for.
  3. On the team’s page, make sure all the information is correct. If you need to make updates, scroll to the bottom of the page and click the “Unsubmit Application” button. Don’t worry! This just unlocks the information so you can update it – it doesn’t take the team out of the database.
  4. You’ll be back into the team’s application. Make the changes you need, then, at the bottom, you’ll see a header, “Business Plan Upload.” (Note the subsequent instructions. Judges are going to take off points if these are not followed!)
  5. Click the “Browse” button to go to where the plan is located in your computer. Once you’ve uploaded it, you’ll see the plan name next to the red browse button. Click “Save”, then “Next”.
  6. You will be taken to the team’s application page to ensure all the information is correct and the correct plan is uploaded for the team. If everything is ready to go, click on “Submit Application.”
  7. The next window will be your confirmation page.
  8. The deadline to update team information and submit business plans is 11:59 p.m. Friday, November 16.

GOOD LUCK!

EXPO DAY

The Top 25 scoring teams get their chance to show off and sell their products and services to both judges and the public alike at Park Plaza in Little Rock!
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COMPETITION AWARDS

We have cash and other prizes for winners in the Best Business Plan, Most Innovative, Best Marketing Piece, and Best Retail Booth Display categories!
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PREVIOUS WINNERS

Y.E.S. has been around longer than some of today’s competitors! More than 7,700 students have competed since the first Y.E.S.competition in 2006. Who were the winners?
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