FlyingPirate,
Since most of what you should be teaching a CFI applicant is 'how to teach' (basically FOI) and not technical, aviation-specific material, I would recommend grabbing the latest copies of the Jeppesen CFI syllabus and the Aviation Instuctor's Handbook (FAA-H-8083-9A). That will give you enough of an outline of how to proceed.
Unless my CFI applicants have a prior background in teaching, I require them to develop and deliver a lesson on
every area of both the Pvt ASEL and Comm PASEL PTS, ground and flight. This way, I get to check the accuracy and depth of their technical knowledge and they get to work out all the kinks in their delivery of the material and learn how to answer the questions I always seem to be asking.
Also, make sure they can talk and fly at the same time! The reason most CFI applicants 'get pinked' is generally not because their knowledge is lacking, it's because they can't teach a simple ground lesson or can't demonstrate how to fly straight and level. You'd be surprised how many applicants can fly the hell out of a chandelle or Lazy-8, but not teach PP flight lesson 1 material. We assume they can fly...they're commercial pilots.
I'm definitely not the guy to come to for a Shebly's or ATP-style course, but then again my CFI applicants have a 100% first-time pass rate and, more importantly,
know how to teach the day they get their cert.
SemperFly