1.

The Business (2 marks)

         Describe the type of business you have chosen and why.

I chose sole proprietorship since it is the simplest type of business, with only a single person or a married couple responsible for all the company’s
profits and debts. If people intend to work alone, this may be the best option. This type of business can be especially appealing because income and
expenses are included in personal income tax records. Your profits and losses are recorded on the schedule c tax form and the amount is transferred to
your tax return.

The only disadvantage of a sole proprietorship is that you are liable, personally, for your company's liabilities. This means that your assets
could be placed at risk to satisfy a business debt or settle a legal claim filed against you.

2. Form of Business Ownership (6 marks)

1. Describe the characteristics and advantages of running a sole proprietorship?

2. What skills and qualities do you have that will help your retail business be successful?
3. What skills and qualities are you lacking that you could learn, and how would you learn these?

1. Describe the characteristics and advantages of running a sole proprietorship?

 Easy to Establish - It's easy to start your own business because you don't have to follow any legal standards. Partnerships consist of
different people with different ideas. The strategy is a bit hard to believe. But sole proprietors only need to follow her two steps.
First, you need to create your ideas and implement them according to a good strategy. Within a few months or days, your business
will bring you profits. However, partnerships are very capital intensive.

 Decision Making - It is very easy to make certain decisions in a single trade. Let's say there's a problem The company is at risk of
loss. The trader sees the whole situation and decides accordingly. However, the partnership is a complicated and time-consuming
process. This is because a meeting for all partners has to be held first. Then there was some controversy. And it took a long time to
believe all at once. There are also several people in the partnership, each with their own opinion. It takes gold to fiercely argue and
 change other people's opinions.

 Total Profit - The most important benefits of the top 10 ownership benefits. The only thing you need to know is profit. Whenever
there are losses in the business, the owner must pay all debts. Similarly, when there is profit in business, everything becomes yours,
and you don't have to share it with anyone. Because each partner in the partnership will share in the profits. So, you will have a lot of
money. This money gives the owner the courage and confidence to run the business with that grace and work harder to prosper and
grow.

 100% Control - Sole traders have control over everything and can invest the money as much as possible as they will own all the
profits. And if you want to change the entire company configuration, you can do it in minutes. However, in a partnership, you should
consider each business partner and seek his or her permission and recommendations before making a decision. In short, you cannot
be creative in a partnership. But in sole trading, you can use your thoughts and you don't have to explain your thoughts. If you
implement it and it is better, you can change it again to make more money.

 Employment Opportunities - Although a sole trader can do everything by himself, he hires workers who have the required skills
and abilities because certain jobs require certain people.
Thus, the unemployment rate will decrease. The poor will get a chance to showcase their talent and live a better life in a short time in
a sole proprietorship where your country makes money.

1. What skills and qualities do you have that will help your retail business be How will these skills and qualities help you? 
successful?
When you are updated with the new technology that business
  Updated Technology - If you're just starting and have a few customers, owners use it can benefit you to have connections with
you may end up buying outdated technology. But if you want to make it big, consumers all over the world. Having a good relationship with
make sure you have the latest and greatest technology. Make sure all your the clients feels great because they can patronize the products
plans are up to date and use technology to your advantage. that you’re selling and they can invite their friends too. When
  Relationship With Clients - Customers want to feel appreciated for their you have loyal employees, your business will boom with their
loyalty. When you make your customers feel valued, they stay loyal for life. hard work and efforts. These kinds of qualities will help me to
Get to know them and find out what they want. The more you strive to make make my business successful.
them have a positive experience, the more customers you will retain and the
more customers will recommend you to their friends.
  Loyal Employees - One of the biggest reasons retailers go bankrupt is poor
employee performance. Your store is only as strong as its weakest leak. So,
make sure you have a team you can trust behind you to get the job done. We
prioritize customer service and train our employees thoroughly. Bad
employees are a poor reflection of the company they work for. Don't make the
 mistake of hiring the wrong person!

1. What skills and qualities are you lacking? How can you learn these skills and qualities?

  Time Management skills  Business skills are important as they are the foundational
  Sales Marketing skills elements for starting, running, and managing a successful
 Financial management skills  business. If you are a business owner, these skills can meet the
needs of both consumers and employees. As a future or current
employee, business skills will set you apart from others and
  help you advance in your career I should ask experts on how to
  apply them properly in doing business.

3. Products (6 marks)

1. List the various types of products (6 products at least ) that you will sell in your store and the approximate retail selling prices for each type of
item.  For example,

Product Price Range

Running Shoes $49.99 - $99.99

Shoe Laces $0.99 - $3.99

1. Include an example of a price tag you would put on your products.  Be creative in shape, color, and design.

 
List the various types of products that you will sell in your store and the approximate retail selling prices for each type of item.  For example, (4
marks)
Product Price Range
  Flat shoes $30-$35

 Boots  $55-$65

 T-shirt  $15-$22.05

 Bags  $44.9-$80.99

 Pants  $40-$42.08

 Denim Jackets  $65.90-$78.88

Research Links:

 
 

 
Price tag (2 marks)

4. Store Image and Personality (4 marks)

What will be the image or personality of your store, and what are some of the things you will do to make this image?

 
 Image and personality:    How will you make this?

 
 

5. Target Market (4 marks)

    Who will be your target market and why?

 
Target Market Description: Why are they your ideal target market?

 
 

6. Naming Your Store (4 marks)

   Because a small business owner wants both regular customers and off-the-street customers, he/she needs a name that lets strangers know what
products are being sold in the store.  
      Your store name should be:

 easy to pronounce
 easy to remember
 easy to recognize
 short and simple
 be related to what you are selling

 
Some things that are effective include:

1. A combination of name and a simple visual image that ties in together for a double impact on the passerby, and
2. The owner's name and product line in one.  It's your store and you want your name on the sign, but since no one knows your name, you should
tell people what you are selling as well.  For example, Wendy's Hamburgers, and Leon's Furniture.

 
What is the name of your store and why did you choose it? (4 marks)

 
Name of your store: Why did you choose it?  Why do you think it will attract customers?

 
 
 

7. Store Logo (4 marks)

1. Create a logo for your store keeping in mind that colors communicate a message to the customer.  They can relate to your store through certain
emotional feelings:

Colour Meaning
 
Red Danger, speed
Yellow Warmth, happiness
Green Freshness, stability, trust
 
Blue Cool, tranquility
 
Purple Royalty, mystery
Orange Friendly, youthful, sociable
Silver Expensive, high quality
White Purity, cleanliness
 
Gold Royal, expensive

1. Include with your logo what colors you will use in your store and why?

 
Logo: Logo and colors you will use in your store and why:
  
 

8. Slogan (4 marks)
    A slogan or jingle is a catchy phrase sometimes set to music to help consumers remember the business being advertised.  For example, "Where the
lowest price is the law".  
     Write a slogan or jingle for your business (2 marks) why did you choose this? (2 marks)

 
Slogan: Why did you choose this slogan, why do you think it's a good slogan?

 
 

 
 1. Business Card (4 marks)

     Every business owner should have a business card.  Design a standard business card.  It should include your company name, logo, address, website,
telephone, name, and position (title - president/owner/partner)

10. Financing (11 marks)

1. List at least 8 items that are crucial and part of the start-up costs that you will need when you begin your business.  You will need to list the
sources that you used to have them priced. Don't include rent/mortgage (4 marks)

       Example of your list: 

 
Item Cost

Cash register $120.00

Furniture $50.00
 

1. Research to find out, how much a business that you plan on opening would cost you.  Have evidence of research ready to show me. (2
marks)Where will you get the necessary financing (money) to pay for the above items? (2 marks) Will you be looking at equity financing or
 debt financing?  (1 mark) Why would you choose this form of financing?  Explain. (2 marks)?

1.  

Item Cost

  $ 

  $ 

  $

  $

  $

  $

  $

  $

Research Links:

 
 

 
b)
Research to find out how much a business that you plan on opening would cost you.  Have evidence of research ready to show me. (2 marks)  

 
Links:

Where will you get the necessary financing (money) to pay for the above items? (2 marks)  

Will you be looking at equity financing or debt financing?  (1 mark) 

    Why would you choose this form of financing?  Explain. (2 marks)?

  
 

11. Competition (8 marks)

Who are your competitors?  List and research two competitors.  Ensure the competitors are local and can be easily researched for comparison to your
business. 

 
Name of Competitor Products sold Strengths Weaknesses

          
#1         
  
    
Research Links:     

          
#2         
  
    
Research Links:   

 
 

12. Advertising (10 marks) 

1. Using the publisher software, create a magazine advertisement that you would use for your retail store.  Be creative, using your company
name, logo, and color scheme.  Be sure to include a headline, illustration, copy, and signature. (4 marks)

1. Write a radio script for a radio advertisement that you might use for your store.  Make an audio recording of it, with background music, etc. 
Listen to radio advertisements to get an idea of what it should sound like. (4 marks)  Include a list of the radio stations you might advertise on
and why. (2 marks)

1. Magazine/Billboard advertisement: (4 marks)

 
 b)
Radio Script: (4 marks)

 
 

Radio stations you might advertise on and why. (2 marks)

 
 
 

13. Employees (9 marks)

1. List 4 qualities that you will expect your employees to have.  Why are those qualities important to have? (5 marks)
2. How much would you pay your employees?  Outline the pay plan and why it will be effective. Research to support your pay scale.  Have
researched the links available to show me.

           (2 marks)
 1. List at least 2 fringe benefits you will offer. Explain why they are ideal for your business. (2 marks)

 
List 4 qualities that you will expect your employees to have. (4 marks )  Why are those qualities important to have?  
  (1 mark)
a)

 
b)

 
c)

 
d)

How much would you pay your employees?  Outline the pay plan and why it will be effective. Research to support your pay scale.  Have researched
the links available to show me.    
     (2 marks)
  

 
Research  links :
  

List at least 2 fringe benefits you will offer. Explain why they are ideal for your business. (2 marks)

 
# 1   

 
#2 

 
 

 
Requirements
-All written portions of the project must be typed within this report, question by question, and presented in the same order.
-Final course project can be done individually or in pairs.  If you are working in pairs, you both must be involved in research every step of the
way.  Research and presentation standards and quality must be agreeable to both partners.
- Presentation content evaluation will be the same for both individuals who work in pairs.  But the communication marks for oral presentation
will be individual.
-You will be required to present your project to the class on the due date.  You will play the video of a previously recorded presentation.
-Feel free to consult with the teacher at any time

 
-ALL presentations will be submitted to the teacher on the date due regardless of when the student(s) is(are) due to present.
 
 

 
Name:
Topic: Date:
BBI201 ISU - Business Plan
Oral Presentation Evaluation
 Voice is clear, the pacing is even /1 /1
   Enthusiasm for the topic is evident /1 /1
Voice / Articulation  Appropriate level of language is used /1 /1
(marked per individual presentation)
   
 

 Topic is established (introduction and outlined what would be covered in the seminar) /2
 Research
   Sources identified in the report  
Content /76
/4

 Presented with creativity (how did you make your presentations outstanding?)
 Well prepared for presentation (ready for presentation,  presented on the due date)  
  /4
Presentation method
 
 
/4

PowerPoint  Professional-looking slide background /2

 font - should be large, color should be easily visible,  well spaced
  illustrations (pictures, graphs, etc)  
 write up should be brief, point form, maximum of four bullets per slide /2
 appropriate and professional-looking animation /2

 
/2
/2

Total   /103 /103