1- Flower Enterprise
What type of business is Mendes Blooms?
International
She sells finished dresses as well and offers dressmaking classes.
How did Levi's business start?
Levi started selling jerk chicken with the sauce at music festivals?
She noticed a demand for healthy, natural beverages in her city.
How does Pedro add value to the raw materials he buys?
-Grows seeds into flowers
How much finance does she need and how does she obtain?
- Her mother invests $5,000
- Personal savings
- Bank Loan
What are two barriers Levi faced?
- Lack of Finance
- Lack of customer base
What factors helped Maria's business expand faster?
- Background knowledge in nutrition and marketing
- Quickly gaining a customer base
3 qualities of a successful entrepreneur that Pedro exhibits
(100 each)
- Risk Taking
-Self Confidence
-Commitment/Self Motivation
Where did Farah choose to open her business? What is one advantage and disadvantage of this choice?
-Disadvantage : Far away from market potential and customers
How much capital did Levi receive? What were the conditions? What did he spend it on?
- 25% of future profits goes to investor
-Spent it on new production facilities
What challenges did Maria face as demand grew?
- Scaling Production
- Managing cash flow
- maintaining high quality of products
What type of business did Mendes Blooms start out as? What are three of its advantages?
Sole-Trader
-Easy to set up
-Owner has complete control
-Owner keeps all profits
-Owner can choose times and patterns of working
-Owner can establish close relationships
What are two sacrifices that Farah had to make?
- Opted for out-of-town location instead of in the busy market, sacrificing potential customers
- Opted to learn to keep accounts herself at the local college instead of hiring accountant for $2,000 per year
What factors of production did Levi need?
Land - Production Site
Labor - Workers to make the product
Capital - Production Facilities
Enterprise - Levi Roots
What strategies did Maria employ to manage the growth and expansion of her business?
- Conducted market research
- Created a detailed business plan
- Sought advice from mentors and industry experts
-Focused on building strong brand identity by enhancing social media presence through social media and a user-friendly website