This fall, seventh grader, Elizabeth Purvis, started a business through the Frisco Young Entrepreneurs Academy. The program required Purvis to write a business plan complete with financial data and a mission statement. After weeks of hard work, the entrepreneurs pitched their businesses to a panel of six local investors. We sat down with Purvis to learn a little more about the process.
Tell us about your business plan
I created a home baked goods company called EAP's Sweet Treats.
The culmination of this process was the investor panel last week. We know you were the only participant who received more money than you requested, tell us about the event.
I had 6 minutes to present my business plan to the investors. I was really nervous but excited at the same time. Our YEA instructors prepared us well. I did receive more funding than I requested, along with a mentorship and website from an internet marketing expert. I also won a $500 SAMs gift card to purchase items for my business.
What have you gained from this experience?
Not only have I gained confidence, but I have gained the ability to begin my dream business. I am thankful to have had help from my mentor. Knowing that mentors and business leaders in the Frisco community will continue to be there for me is a big plus. Their experience and knowledge is invaluable.
What do you intend to do moving forward? How will you continue to grow your business?
I plan to start my business on a small scale through sales of my sweet treats to local businesses and individuals. Ultimately, I hope people like my products and will continue to support my efforts. I hope to be able to make a profit to help pay for college.
Elizabeth will be showcasing EAP's Sweet Treats at the YEA Trade Show on May 16 at Stonebriar Mall in Frisco.