The constraints in selecting your business include:
- Your business must NOT be a seasonal business.
- You cannot use a franchise.
- Your business cannot be an ‘Online’ business.
- Your business must be a for-profit business.
- You must have face to face interaction with your customer.
- You cannot change your business choice after it is approved.
Be sure to select a business that you are interested in, as you will be doing research all semester on this particular industry.
Submit your proposal as a short memo (business format) describing what your business will be, where you will be located and any additional details such as; will it be a home based business or storefront?
Your business MUST be approved by me.
BE SURE TO COMPLETE THIS ASSIGNMENT AS WELL!
2. Complete Key Concept Questions in back of text chapter:
- 2-6: Explain why a prospective business founder might want to create a feasibility study or Business Model Canvas before developing a complete business plan.
- 2-7: How can spending time researching and writing a business plan save an entrepreneur time and money in the short and long term?
- 2-9: Explain why the executive summary is the most important section of any business plan.