Running a Business or Franchise |
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Are you thinking of running a business or a franchise as a co-op job? Through the Schlegel Centre for Entrepreneurship, your proposal will be reviewed to determine its suitability as a co-op work term position. Here’s some information to help you get started.
Visit the Entrepreneur-In-Residence page to start the process. The EIR program provides a vehicle for co-op students to meet with successful entrepreneurs to discuss their aspirations as an entrepreneur. It is through this process that your entrepreneurial work term position will be evaluated.
Go to the Making an Appointment page and follow the instructions to schedule an initial meeting. It is important to schedule this meeting well in advance of the work term in which you wish to launch your venture. Giving yourself the maximum time available to fully develop your proposal provides a greater chance of success.
Prepare for your meeting following the outline at Rules of Engagement.
You’ll need a business plan to get your business approved as a co-op position. It will also be useful when applying for loans or registering your business. Please give your co-op coordinator the name of an advisor or mentor.
(If you plan to run a franchise, please give us the name of your area manager or district representative. If we have previously approved a franchise with the same company for other co-op students, your proposal may be less detailed than those required for new businesses.)
Your plan will include analysis of the competition and a marketing plan. It will also include, as headings, any of the following topics that apply to your business or franchise:
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• executive summary |
• staffing |
You will need to provide a progress report each month during the term. You will prepare a work report like other co-op students; please ensure that it differs substantially from the business plan.
Resources for Young Entrepreneurs
| Financial Assistance |
| Summer Company Program, Ministry of Small Business and Consumer Services- Awards of up to $3,000 for students starting a summer business. |
| Business Plans |
| The Mazemaster site includes guidelines and forms for writing business plans and forecasting cashflow, in addition to providing lots of good stuff for budding entrepreneurs. (Go to the "Self Employment" module to find information on writing business plans.) |
| Local Support |
| The Waterloo Region Small Business Centre site offers links, a newsletter and information about their services to entrepreneurs in region. |
| More on Starting a Small Business |
| The Ministry of Small Business and Consumer Services provides information on starting a small business, and links to Small Business Enterprise Centres. |
| Ontario workinfonet.ca (OnWIN) provides online information about becoming an entrepreneur, writing business plans and running a business. |
| Resources are available from Canada Business - Services for Entrepreneurs. |
| Canadian Business Online Startup Guide |
| Globe and Mail Small Business |
Schlegel Student Business Operators Association
The Schlegel Centre for Entrepreneurship is pleased to announce the launch of a new "Association" for students operating a business while attending Laurier. All students from every faculty at Laurier are invited to join, the essential requirement is that you must be operating a business.