Show:
Business Plan
Overview of Entrepreneurship
Types of Entrepreneurial Businesses
Forms of Ownership
Advantages and Disadvantages
100
A written document that describes the nature of the business, goals and objectives and how they will be achieved.
What is a Business Plan?
100
Person who assumes the risk of starting, owning and operating a busienss.
What is an Entrepreneur?
100
Sells services, not products.
What is Service?
100
The most common form of business organization.
What is Sole Proprietorship?
100
Advantages: easy to open, receive all profit
What is a Sole Proprietorship?
200
Target market and prices for product or service.
What is a Marketing Plan?
200
The main reason businesses fail.
What is Financial Reasons?
200
Selling products to people.
What is Retail?
200
Business owned by a group of people and authorized by the state in which it is located.
What is a Corporation?
200
Disadvantage: financial liability and share profits.
What is a Partnership?
300
This describes the type of ownership (sole proprietorship, partnership, corporation or franchise).
What is an Organizational Plan?
300
Business plans must be ___________.
What is Realistic?
300
Actually producing the products they sell.
What is Manufacturing?
300
A corporation with less than 75 shareholders.
What is "S" Corporation?
300
Advantage: marketing strategies are created and in place.
What is a Franchise?
400
Describes the product or service.
What is the Nature of the Business?
400
These are all _______________ of entrepreneurs: self-starters, plenty of energy, creative.
What is characteristics?
400
Distributor buys the right to sell the company's name.
What is a Franchise?
400
Owners have less liability, "life" in the company and taxation.
What is Limited Liability Company (LLC)?
400
Disadvantage: difficult to form and operate.
What is a Corporation?
500
Investment needed to start the busienss.
What is a Financial Plan?
500
About ___________ of all new businesses fail within the first ____________ years.
What is Half / Five or Six?
500
John Deere is an example of these TWO types of businesses.
What is Manufacturing and Retail?
500
An individual opening a franchise.
What is a Franchisee?
500
Advantage: millions of shares sold.
What is an Open Corporation?