My Small Biz Project

  • My Small Biz Project

    Project Brief - You have been dreaming of owning your own business since high school. You are now 30 years old.  You managed to save up $65k in your own savings, plus $45k inheritance from your rich aunt who sadly passed away last year, plus a $50k business loan from a bank that reviewed your business plan and trusts you will pay back the money with interest (@ 6.75% annually).

    Project Organization

    • Create a doc (google or Word) titled: DA103-lastname-your biz name. Share it with me at aturton@aldenschools.org or create a FOLDER in the Dropbox.
    • Identify the products or service you will sell.
    • Use the doc/folder as a place to collect links, images, data, info to develop your business.

     

    Target Demographic

    • Find a good definition of "target demographic" and add it to your doc.
    • List the following information about your intended customers.  

     

    Location - Location - Location

    • Identify a specific building that is real and currently available for purchase or rent (lease).
    • Use an internet map application to show the location of your business.
      • You will need to capture several different zooms.
      • Identify where you competition is located. It may or may not show on your map, but list a distance from your business.

     

    Design/Construction

    • Interior Design
      • Use www.gliffy.com to create a layout (walls, windows, tables, computers, sofa, rest rooms, kitchen, storage, .... what ever you need to operate your business).
    • Exterior Design
      • What colors scheme will you choose?
      • What signage will be needed?

     

    Budget

    • Expenses
      • Find a Template in Excel that you think will work well.
      • Identify at least 12 expenses for your business (rent, utlitities, ...)
        • Show how your expenses vary each month for years 1 and 2 of your new business.
        • The monthly payroll numbers will be updated by formulas in th ePayroll Sheet you will create.
    • Payroll
      • Create a sheet in your Excel Budget File to analyze your payroll.
      • Use this link, http://taxes.about.com/od/payroll/qt/payroll_basics.htm, to help create the formulas you will need to calculate the net pay for each employee.  Of course, the gross pay is what you, the employer, are actually responsible for.
    • Income
      • Determine at least 6 sources of income for your business (sales of what?).  Make logical categories for your sales (ie: for a restaurant ... deserts = cookies, ice cream, pie, ...)
      • Show how your income varies each month for years 1 and 2 of your new business.

     

    Marketing

    • Internet Customer Communication
    • Use www.blogger.com to present info and get feedback from your customers. This can serve as a simple webpage.
    • Include at least 5 posts. Consider: special offers to club members, new product/service introductions, link to your location in a map, show your logo, poll or survey, show your store layout/floorplan.

     

    Presentation

    • Slide 1 - business name, logo
    • Slide 2 - what you do, .jpeg image of your floorplan
    • Slide 3 - chart of your expenses, discuss major contributors 
    • Slide 4 - chart of your income, discuss annual profit 
    • Slide 5 - purpose of your blog  
    • Slide 6 - list 3 or more challenges, difficulties, or things you learned with this project
    • handout with name and date in header, 6 slides per page