Business Planning

A written document that describes an idea for a product or service and how it will make money.

• List of Expenses

• Startup Costs

• Business Plan

The amount of money you need to launch your business.

• Start-up costs

• List of Expenses

• Pricing

What is the cost of making each product or providing each hour of service?

• profits and expenses

• cost per unit

• business plan

How should you set the price of your product or service ?

• set your price above the cost per unit

• set your price below the cost per unit

• set your price to cover the cost per unit

How can you calculate your amount of profit?

• Profit = Income + Expenses

• Profit = Income - Expenses

• Profit = Income x Expenses

What should you mainly consider for marketing?

• All the different types of products and services

• Promotion through newspaper and emails

• Your target customers and promotion of the product or service

The amount of money you make.

• Expenses

• Savings

• Income

What is the first thing you need to do before starting a business?

• Find your big idea.

• Find money.

• Find a newspaper.

How much will you make on each sale after you subtract your expenses is called:

• profit or revenue

• costs or expenses