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Business Terms
Shark Tank
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100
A detailed plan on how to achieve a profit.
What is a Business Plan?
100

Owner of the Dallas Mavericks

Mark Cuban

100
A tangible good you can touch.
What is a product?
100
If Suzie sells snow cones for $2.50 each, and it cost her $1.35 to make each one, What is her profit per snow cone?
Her profit is $1.15 per snow cone.
100
An activity in which money is put at risk for the purpose of making a profit.
What is Invest?
200
The expenses required to start a business.
What is Start-Up Cost?
200

He was one of the entrepreneurs that started the clothing line FUBU

Damon John

200
An Activity you are paying someone to do for you.
What is a Service?
200
Sam earns $500 per week from his snow cone business. 30 percent of his earnings each week need to go towards buying more supplies. How much is Sam left with at the end of the week?
Sam's supplies are $150. He will have $350 left at the end of the week.
200
A private investor that provides money to start a new business or to grow an existing one.
What is a Venture Capitalist?
300
The money used to start a business.
What is Start -up Capital?
300

Shark called "Mr. Wonderful"

Kevin O'Leary

300
Name 3 products one would spend money on.
Answers may vary.
300
Sam has an employee working at his snow cone shack. He pays this employee $7.25 per hour. This employee works 8 hours a day for 6 days a week. Before taxes, how much will this employee make in one week.
The employee will make $58 per day and for 6 days he will make $348.
300
In the components of starting a business, what is the first step?
Having an IDEA is the first step.
400
The percentage of gain or loss on an investment over time.
What is Rate of Return on Investment?
400

Shark Lori Greiner is known as the "Queen" of which TV network?

QVC

400
Name three services that someone would pay for.
Answers may vary.
400
Judy is opening a hair salon. The building she wants to rent for her salon will charge her $1500 per month. After she pays for her supplies each week, she will have profited $600 (per week). Will Judy have earned enough money each month to pay her rent? If so, how much will she have left? If not, how much more will she need?
Judy will have profited $600 per week which = $2400 per month. She will have enough money to pay her rent and have $900 left over.
400
What does Funding mean?
Having the money to start something (like a business).
500
A forecast of future revenue and expenses for a business.
What is a Financial Projection?
500

Shark Barbara Corcoran founded her company dealing with this.

Real Estate

500
Name 5 things you will have to purchase to start a new bakery.
Answers may vary.
500
After all supplies and taxes are taken out of her budget, Judy is left with $968 per month. What will her pay check be each week?
Her pay check each week will be $242.
500
How much start up capital did Maddy have before she started her magnet company?
She had $300 and her mom matched that for a total of $600.