SHARK TANK PROJECT

PROJECT OVERVIEW
Think of this project as Bedrock’s version of “Shark Tank”. Each intern group (5 interns) will work
together to create a proposed business plan for Bedrock’s “Next Big Thing” to present to a panel of
judges, who will act as the “Sharks” (investors/venture capitalists). You’ll want these “Sharks” to
invest their money into your business.

GUIDELINES
1. Determine roles and responsibilities of group members - think about what would make the
most sense based on what business area team members are working with throughout their
internship when assigning research/tasks.
2. Schedule team meetings to discuss updated research and continually work on project –
recommend meeting 1/2x per week to start.
3. Utilize your resources - there are plenty of team members who are willing to help you find
and understand the data you need.
a. People – leaders, team members, other interns within the FOC, internship program
contact, etc.
b. Project Materials – roles & responsibilities sheet, business plan breakdown,
presentation guidelines, etc.
c. Watch episodes of Shark Tank for more information about how business proposals
work and for different ideas/examples.

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 TIMELINE & IMPLEMTATION

1. The Shark Tank Project and resources will be introduced to each group during the first week
of their internship.
2. All intern groups will be provided the project expectations, guidelines and timeline.
3. This project will run from June 17th – August 11th.
4. All project items should be sent to Alex Schalk @ alexschalk@bedrockdetroit.com by their
respective due dates listed below.

JUNE JULY AUGUST

S M T W T F S S M T W T F S S M T W T F S
1 2 3 4 5 6 1 2 3 4 1
7 8 9 10 11 12 13 5 6 7 8 9 10 11 2 3 4 5 6 7 8
14 15 16 17 18 19 20 12 13 14 15 16 17 18 9 10 11 12 13 14 15
21 22 23 24 25 26 27 19 20 21 22 23 24 25 16 17 18 19 20 21 22
29 30 26 27 28 29 30 31 23 24 25 26 27 28 29

DATES
Project Introduction Meeting 6/17
Group Meeting w/ EC Sponsor 6/18 – 6/24
Brainstorm Project Ideas + Determine Roles & Responsibilities 6/18 – 7/2
Proposed Idea + Completed Roles & Responsibilities Sheet Due 7/3
Research & Formulate Business Plan 7/6 – 7/17
Group Check-In Meetings 7/13 – 7/14
Group Meeting w/ EC Sponsor 7/20 – 7/24
Prepare Group Presentation & Business Plan 7/20 – 7/29
Finalized Presentation & Business Plan Due 7/30
Group Presentation Dry Run Meetings 8/3 – 8/10
Shark Tank Event 8/11

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TOOLS + RESOURCES
Below are some of the tools and resources that we’ve provided to set your team up for success
when working together on this project.

Roles & Responsibilities Sheet

*Please note that roles & responsibilities provided in the example below are just examples to get your
group started. Each group should update their Roles & Responsibilities sheet based on what works for
your group and makes the most sense for your project.

ROLE NAME RESPONSIBILITIES

1. Work with all other team members to gather
information needed for presentation
Spokesperson
2. Create PowerPoint/video/samples for presentation
3. Present business proposal to "Sharks"
1. Analyze market of your "Next Big Thing"
2. Work with Communications team on how to create
Market Analysis
awareness of your "Next Big Thing"
3. Compare against competitors & what they're doing
1. Assist Marketing team with how to spread the word of
your "Next Big Thing"
Communications
2. Get information from all other teams to pull together
formal business plan
1. Determine factors of production (team members,
supplies, land)
2. Determine cost of all these different factors
Operations
3. Work with finance team to determine if these are
affordable
4. Help manage overall progress and timeline of project
1. Work with operations & procurement teams to
determine all factors needed & their costs
Finance 2. Create a financial plan on how to pay investors back
3. Propose how & when you are going to use the invested
money

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Business Plan Breakdown

Phase I – Research

You and your group members will be working together to research and formulate your new idea for
Bedrock. Utilize this information and anything else you can think of in order to prepare your business
plan.

Market Research

1. Target market
a. How big is this market? Can it grow?
b. Is there a need for your product/service in this market?
c. Prove viability of the market
2. Competitors
a. What are their strengths and weaknesses?
b. How are you different/unique compared to them?

3. Marketing
a. How are you going to get our name out there?
b. Create a marketing plan

Factors of Production

1. Team Members
a. How many team members do you have now?
b. How many would you need for your plan?
c. What business areas would those team members be a part of?
d. What would be their duties?
e. How much are you going to pay them?
2. Supplies
a. Are you going to need any capital resources?
b. Computers? Desks? Chairs? Etc.
c. What is the cost per item for those supplies?
3. Land
a. Do you need to acquire your own property to serve as your headquarters?
b. Do you need more office space in additional properties?

Financial Information

1. How much money do you need?

2. What are you going to use it for?
3. How are you going to pay investors back?
4. What are the costs of every aspect of your business (employees, supplies, rent, etc.)?

Company Valuation

1. What do you think your company is worth? Why?

2. What type of investment are you looking for?
3. How much money are you looking to get to expand your business?

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 4. How much equity are you willing to give up for that loan?

Phase II – Business Plan

You will be using all of the information you have been researching for the past few weeks and
forming a business plan that you will present to the “Sharks”.

Part One – Cover Page

The purpose of a cover page is to tell the reader what he/she is about to read and how to
contact the writer. Your cover page is also a way to get your business plan noticed. Lenders see
dozens, if not more, business plans a week, and something as simple as putting your cover page
on quality stock paper may catch their eye.

Your cover page should say the words "Business Plan," and should include:
1. Your Name
2. Business name
3. Company logo
4. Address
5. Telephone number
6. Fax number
7. E-mail address
8. Date

Part Two – Table of Contents

Your table of contents provides readers with a quick and easy way to find particular sections of
the plan. All pages of your business plan should be numbered and the table of contents should
include page numbers. After you assemble your plan and number your pages, go back to the
table of contents and insert page numbers. Be sure to list headings for major sections as well as
for important subsections.

Part Three – Executive Summary

The purpose of this section is to summarize the ideas you have developed in the preceding
sections. This summary will help you make sure that the different parts of the analysis make
sense, that they support each other logically and coherently, and that they will leave the reader
with a concise convincing statement that the project and plan are feasible. Some things to
include in an executive summary are:

1. Mission statement. This is an elevator pitch that sums up your vision for the company.
2. Basic information. The executive summary should describe your company, its history, its
ownership, the number of employees and the location.
3. Growth highlights. If you have any growth successes to brag about, include them
here. Charts or graphs that make the point visually bring these high points home.
4. Products and services. Whatever you do, describe it here.
5. Your goals. Describe future plans for growth, new products or expansion.
6. Financial information. If you're seeking new financing, include up-to-date information
about your current financing, banks you deal with and investors who've already bought in.

The executive summary should be no more than three pages and should include highlights of the
other sections of your plan. For this reason, it is often easier to write this section last.

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Part Four – The Business

1. Description of Business
a. Overview & history of company
b. Overview of your industry
c. Business for: proprietorship, partnership, or corporation?
d. Type of business: merchandising, manufacturing, or service?
e. What is the product and/or service?
f. Is it a new business? A takeover? An expansion?
g. When is your business open?
h. Is it a seasonal business?
i. What have you learned about your kind of business from outside sources?
2. Services
a. What are you selling?
b. What benefits are you selling?
c. What is different about your goods and services?
3. Marketing Information
a. Who buys from you? Define your target markets.
b. Is your market share growing, steady, or declining?
c. Have you segmented your markets? How?
d. Are your markets large enough for expansion?
e. How will you attract, hold and increase your market share?
f. Are you planning to enter or leave any markets?
g. How do you price your products?
4. Location of Business
a. Where are you (or should you be) located?
b. Why is it a desirable area? A desirable building?
c. What kind of space do you need?
d. Are any demographic or other market shifts going on?
5. Competition
a. Who are your nearest direct competitors?
b. Who are your indirect competitors?
6. Management
a. How does your background/business experience help you in this business?
b. Who is on the management team?
c. What are their strengths and weaknesses?
d. What are their duties?
e. Are these duties clearly defined? How?
f. What additional resources are available to your business?
7. Personnel
a. What are your current personnel needs?
b. What skills will your employees need in the near future? In five years?
c. What are your plans for hiring and training personnel?
8. Application and Expected Effect of Loan
a. How will the loan (investment) make your business more profitable?
b. Should you buy or lease (equipment, your place of business, and so on)?
c. Do you need this money? Establish a procedure for making borrowing decisions,
and plan your borrowing.

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Part Five – Financial Data

1. Balance sheet
2. Income statement
3. Cash flow projection
a. How much cash your business will need
b. When it will be needed
c. Whether you look for equity, debt, operating profits, or sale of fixed assets
d. Where the cash will come from

Part Six – Appendix

You will want to include any documents which lend support to statements you have made in the
body of the business plan. Items included here will vary according to the needs and stages of
development of your particular business. The following listing suggests some things which might
be included:

1. Resumes of management team

2. Charts, graphs, or tables that supplement information from other sections of your
business plan
3. Quotes or estimates
4. Letters of Intent/Contracts from prospective customers
5. Licenses, permits, patents and trademark documentation
6. Letters of Support from credible people who you know
7. Leases or Buy/Sell Agreements
8. Legal Documents relevant to the business
9. Census/Demographic data
10. Testimonials

*Please research other business plan outlines if needed to help guide you.

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Phase III – Presentation
You and your group members must prepare a presentation for your “Next Big Idea.” Be creative! You
can make a PowerPoint, video, or any other type of presentation you can think of. Keep it
professional, but also make sure it is memorable. Remember, you are trying to get the “Sharks” to
invest in you, so it should be interesting to listen to!

1. Introduction
a. Introduce yourselves
i. Name, where are you from, what’s your background
ii. Establish your credibility
b. Introduce the company
i. Name, mission, vision
ii. History of the company - when, how, & why did it start? Where are we located?
2. Description of Company
a. Describe the products/services we provide
b. What needs/problems do we serve?
c. Progress over the years
3. Marketing
a. Include testimonials
i. Prove that you have made progress and are successful
ii. Discuss any tentative arrangements in place with potential customers
b. Discuss actual marketing plan
i. What have you been doing so far? Is it working?
ii. What do you plan on doing in the future? Anything different?
4. Market Analysis
a. State your target market
b. How big is this market? Can it grow?
c. Present statistics that prove viability of the market
d. Competition
i. What are their strengths and weaknesses?
ii. Why are we better? Unique?
iii. What do we have that I can’t just do myself?
5. Sales
a. How do you make money?
b. What are your sales?
c. How did you get those sales?
d. Projected sales
6. Defensibility
a. What protects your company from someone else coming in and doing exactly what
you do?
b. Why are you different?
7. Scalability
a. How can your business grow?
b. What are the ways you plan to make it grow?
8. Pricing
a. How much money do you need?
b. What is this money being used for?
c. How will investors get their money back?
9. Business structure
a. What are all the different teams we have?
b. How do they contribute to our company?

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