Category 1
a written document that describes all the steps necessary to open and operate a successful business.
What is a business plan?
an independent agency of the federal government that was created to help America start, build, and grow businesses.
What are Small Business Administration (SBA)
a legal agreement that gives an individual the right to market a company's products or services in a particular area
what is a franchise?
a business with the legal rights of a person that is independent of its owners
What is corporation?
a system of collecting, recording, and analyzing information about customers, competitors, goods and services.
What is market research?
What is Introduction, Marketing, Financial Management, Operations, Concluding Statement?
provides management assistance to current and prospective small business owners.
What is Small Business Development Centers (SBDC)
a person or company that offers a franchise for purchase
What is a franchisor?
a unit of ownership in a corporation
What is a share of stock?
comes from a business that makes most of its money selling the same or similar products or services as another business.
What is direct competition?
a financial statement based on projected revenues and expenses
What is pro forma financial statement?
made up of more than 10,500 retired executives who volunteer their time to provide entrepreneurs with real-world advise an know-how
What is Service Corps and Retired Executives (SCORE)
the fee the franchise owner pays in return for the right to run the franchise
What is franchise fee?
a group of people who meet several times a year to make important decisions affecting the company
What is board of directors?
a business percentage of the total sales generated by all companies in the same market.
What is market share?
a short restatement of the report
What is executive summary?
Organizations made up of professionals in a specific industry
What is trade associations?
a weekly or monthly payment made by the owner of the franchise to the seller of the franchise
What is royalty fee?
distributions of profit to shareholders by corporations
What is dividends?
the routes that products and services take from the time they are produced to the time they are consumed.
What is channel of distribution?
includes supporting documents that provide additional information and back up statements made in the body of the report.
What is appendix?
a person who sells businesses for a living
What is a business broker?
a business owned exclusively by one person
What is sole proprietorship?
is a blending of the product, price, distribution, and promotion used to reach a target market
What is marketing mix?
a nonpaid form of communication that calls attention to your business through media coverage.
What is publicity?