Foods 2 - 4.02 Startup Ventures

Based on the first two years of sales, what can Margo’s Soups assume for year three?

• There should be an increase in revenue for year three.

• Revenue will go down for year three.

• There is insufficient data to complete a projection for year three.

• Revenue should be unchanged from year two to year three.

Based on the data, what can Margo’s Soups do to increase sales?

• change the menu to hot dogs in hopes of increasing sales

• leave everything as is and hope the next year will be better

• stop selling soups

• try selling cold soups as a menu option during the warm months of the year

Kim's passion for gardening has led her to sell her vegetables and flowers at the local farmers market. She already recognizes she has a competitive advantage over the other vendors, but she is stuck trying to figure out how to use that advantage in starting her own business. Applying the Lean Canvas Business Model, where is Kim in her plan presently?

• solution

• cost structure

• channels

• key metrics

Planning to start a Vietnamese food truck, Jim is in the cost structure step of the Lean Canvas Business Model. He can make Vietnamese donuts for $1.50 per dozen. He plans to sell them for $9.00 per dozen. How much profit will he make in one day if he sells 60 dozen donuts?

• $90

• $450

• $540

• $810

Josh met with a lending service to acquire funds for his new business. After discussing his fixed and variable expenses, he feels the need to rethink his financial plan. What part of the Lean Canvas Business Model will he need to reassess to increase his finances?

• solution

• channels

• competitive advantage

• revenue streams

Mary sells pasture-raised hen eggs. She was recently approached by a large corporate food business about becoming a supplier for it, but Mary would have to compromise her standards to keep up with the demand. Referring back to the Lean Canvas Business Model (LCM) for her business, Mary has decided to turn down the offer. What part of the LCM has influenced her decision?

• cost structure

• channels

• unique value proposition

• revenue streams

Max is finishing his monthly budget for his new business. Rent is $1,500, utilities range from $350 to $525, Internet is $150, and linens range from $125 to $275 per month. How much are his monthly fixed expenses?

• $500-$800

• $1,500

• $1,650

• $2,490

Luis has an idea for a food truck. He has studied the needs of his community and the types of people that can become potential customers, and he has even developed a business slogan. Applying the Lean Canvas Business Model, what is Luis's next step?

• revenue streams

• channels

• key metrics

• competitive advantage

Linda is starting a nonprofit that grows vegetables in a food desert in her community. She has identified the problems and her target customers, and she has researched ways to grow food in large amounts with a fairly inexpensive method. Applying the Lean Canvas Business Model, what is her next step?

• revenue streams

• competitive advantage

• unique value proposition

• cost structure

A health center and spa just opened. Business is great because the owners have planned well and thought thoroughly about their business concept. They have developed a catchy mission statement and have launched a successful advertising campaign. Which step of the Lean Canvas Business Model did the owners execute well?

• cost structure and key metrics

• problem and competitive advantage

• unique value proposition and channels

• channels and revenue streams