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WorksheetsCh8 Entrepreneurship Locate and Set up your Business
Total questions: 28
Worksheet time: 55mins
Neighborhood shopping centers are often called strip malls.
True
False
Warehouses are generally one of the most expensive rental facilities for a retail business.
True
False
Industrial parks are usually located away from housing developments and downtown areas.
True
False
The cost of maintaining an online business is much less than the cost of buying or leasing a building.
True
False
A scale drawing of your floor plan will help identify potential problems in your layout.
True
False
In a gross lease, the landlord pays property taxes and the tenant pays rent, insurance, and any other expenses.
True
False
You should always consult an attorney before signing a commercial lease agreement.
True
False
Inventory consists of the products that a business sells to its customers and the materials needed to make those products
True
False
You should always choose the vendor who provides the lowest price.
True
False
Retail, service, and manufacturing businesses must purchase inventory before they can open for business.
True
False
For each questions, determine the word(s) that best complete the
sentence. Match the word that fits the sentence.
To fill the standard and special equi
vendors
Because they are of basic constructio
warehouses
Before you purchase merchandise for y
quote
A(n) _____ lease occurs when the land
net
In a(n) _____ lease, the tenant pays
gross
A type of lease in which a tenant pays a base rent, and the landlord also receives a percentage of the
tenant’s revenue each month
(a)
The geographic area from which you expect to attract a majority of your customers
(a)
The products that a business sells to its customers as well as the materials needed to make those products
(a)
A section of land that is zoned for industrial business only
(a)
The person who owns and rents out buildings or space
(a)
Which of the following is a disadvantage of running a virtual business?
Collecting
information about customer behavior is difficult
Maintaining a website requires
special expertise
Competing with larger, established businesses is difficult
It
requires a lot of startup capital
When selecting a site for your business, you should do all of the following except
locate as close as you can to your direct competitors
buy a map and mark your
trade area
consider locating near complementary businesses
inspect and
evaluate all possible locations
A possible location for a business has rent of $975 per month and projected traffic of 9,600 customers per month.
Rent per customer is ...
$0.08
$0.10
$0.98
$0.11
The layout, outside sign, and window displays of your business.
are less important
than the name of your business
should be similar to other retail businesses in the area
should never be changed
should match your
image
Which of the following types of business does not always need inventory before it can
open for business?
Manufacturing
Retailing
Service
Wholesaling
Determining the amount of inventory to keep in stock is particularly difficult for owners of new businesses because.
their insurance may not cover damage to stored
inventory
they need to take advantage of quantity discounts
they do not know
what their level of sales will be
all of these
Match the list of items to the correct types of standard equipment and supply needs for most businesses.
lamps
overhead lights
bulletin boards
shelves
desks
chairs
filing cabinets
computer stands
calendars
stationary
pens and pencils
folders
computers
telephones
printers
copiers
A reorder point...
is an order to a supplier for additional items
is a predetermined
level of inventory that signals when new stock must be purchased
should only be
set for products that have high sales
none of these
Lee Torres plans to open a retail pet store. The store will carry high-quality dog and cat foods;
leashes, collars, and coats for dogs; scratching posts and trees for cats; and carriers,
beds, toys, treats, grooming needs, and flea products for both dogs and cats.
Lee does not plan to sell puppies or kittens but will have a large assortment of birds, tropical fish, and small animals (hamsters, guinea pigs, and so on) and the foods and
accessories needed for them. The store will also carry an assortment of books about the selection, training, and care of pets. Answer the following questions in the spaces provided.
Question 1. If Lee’s store will be in a large metropolitan area, what would be a good location for the business? Why?
Lee Torres plans to open a retail pet store. The store will carry high-quality dog and cat foods;
leashes, collars, and coats for dogs; scratching posts and trees for cats; and carriers,
beds, toys, treats, grooming needs, and flea products for both dogs and cats.
Lee does not plan to sell puppies or kittens but will have a large assortment of birds, tropical fish, and small animals (hamsters, guinea pigs, and so on) and the foods and
accessories needed for them. The store will also carry an assortment of books about the selection, training, and care of pets. Answer the following questions in the spaces provided.
Question 2. If Lee’s store will be in a small city or town, what would be a good location for the business? Why?
Lee Torres plans to open a retail pet store. The store will carry high-quality dog and cat foods;
leashes, collars, and coats for dogs; scratching posts and trees for cats;
and carriers, beds, toys, treats, grooming needs, and flea products for both dogs and cats.
Lee does not plan to sell puppies or kittens but will have a large assortment of birds,
tropical fish, and small animals (hamsters, guinea pigs, and so on) and the foods and
accessories needed for them. The store will also carry an assortment of books about the selection, training, and care of pets. Answer the following questions in the spaces provided.
Question 3. What are some general considerations for the layout of the pet store?
Lee Torres plans to open a retail pet store.
The store will carry high-quality dog and cat foods;
leashes, collars, and coats for dogs; scratching posts and trees for cats; and carriers, beds, toys, treats, grooming
needs, and flea products for both dogs and cats. Lee does not plan to sell puppies or kittens but will have a large
assortment of birds, tropical fish, and small animals (hamsters, guinea pigs, and so on) and the foods and
accessories needed for them.
The store will also carry an assortment of books about the selection, training, and care of pets.
Help Lee design a layout of the pet store. Consider where to what lee wants in his retail pet store, plan the flow of traffic, the isles placement and place the cash register.
