Step in the due diligence process of starting a business that will help to determine if there is a financial opportunity present for your small business is called a __________ analysis.
What is financial?
100
This type of business has one owner.
What is a sole proprietorship?
100
Consider this when deciding on equipment.
What are finances, space, essential equipment needs first, and what your competition offers?
100
If you opened your fitness facility in a downtown business area, who would most likely be your target market?
What are business/working professionals?
100
In addition to starting a business, you can purchase and existing business and do this.
What is franchise?
200
The most common forms of debt for small businesses are loans, supplier credit, and _________.
What are credit cards?
200
To analyze the potential of your business idea, consider your risk tolerance, prior experience, and this.
What is personality?
200
This business type is most represented in personal training industry.
What is small business and privately owned?
200
Name a marketing strategy that targets a specific market.
What is/are sponsoring a local race, business affiliations, and flyers/handouts?
200
Title Seven of the Civil Rights Act that prohibits discrimination in the workplace currently applies to all companies with this many employees.
What is more than 15 employees?
300
Venture Capital is an example of this type of funding.
What is equity funding?
300
When buying a business, things to be negotiated are transfer of stock, executive positions and this.
What is future investment in the business?
300
The common rate of depreciation for equipment that was purchased brand new.
What is 50% or more in the first year?
300
These are example of a social network.
What are Individuals from another similar organization, friends from church or school, or the local small business association?
300
Self-Employment has ________ over the last 20-30 years, according to the SBA.
What is increased?
400
The Break-Even Point
What is the point at which the money coming into the business is adequate to cover the costs of the business?
400
The five characteristics of a mission statement are: keep it short, make it universal, keep it simple, establish measureable goals, and ________.
What is be specific?
400
The two main types of internal causes of the decline of a business are strategic problems and ________ problems.
What is operational?
400
The main downfall of a business trying to be "everything to everyone."
What is too wide a target market?
400
A creative process in which a group of individuals is brought together and asked to generate ideas with little or no effort made to evaluate the potential for each idea.
What is brainstorming?
500
The main financial negative of a sole proprietorship?
What is the business and personal finances are viewed as the same?
500
Gap Analysis
What is the process of systematically examining the difference between what is expected and what occurs in business?
500
Skills, background, and _______ should all be considered by an employer when creating a job description.
What is ability?
500
What is one take-away from this course that you will use immediately in your own personal training business?
What is the amazing thing I learned?!
500
Hiring or firing an employee based on level of pay, race, gender, nationality, or religion.