Business Plan

What product won Young Market Trader of the Year?

• Food and Drink

• Arts and Crafts

• General

• Grocery

What is a Business Plan?

• Written document that only outlines the business practices of the new business

• Written document that only describes the ownership of the business.

• Written document that describes the financial aspects of the business.

• Written document that describes all the steps necessary for opening and operating a successful business.

Why do you need a Business Plan?

• To explain your idea

• The ability to get financing

• It's a road map that sets objectives and goals for the business

• All of the above

Which of these pieces of information would NOT be in a business plan put together by a new business?

• Target market

• Market research

• Estimated cashflow

• Profit

Which of the following is it OK to leave out of a business plan?

• Purpose of the Business

• Employees and their potential roles

• A guide to start-up costs

• Target Market

• None of the above

What is an Entreprenuer?

• A person who starts a business because he wants to lose money.

• A person who starts a business because he wants to steal money.

• A person who starts a business because he wants to scam other people's money.

• A person who starts a business because he wants to make money.

What are the two types of ways to make money?

• Product and Surveys

• Product and Service

• Payment and Service

• Paypal and Service

What is a product?

• Do work for others and get paid for doing it.

• Do work for others and get nothing for doing it.

• Make or gather something that others are forced to buy

• Make or gather something that others are willing to buy

What is a service?

• Do work for others and get paid for doing it

• Make or gather something that others are forced to buy

• Do work for others and get nothing for doing it

• Make or gather something that others are willing to buy

What is he selling?

• Product

• Service