Business Lesson-Invention
Pyramid of Learning-The first two levels are completed as group/whole class work. Demonstration, Analysis/Questioning are designed to allow the student to reflect and comprehend. Correlation is the highest level in where students can apply knowledge to real world situations presently. Completion of Demonstration Level will result in a grade that is associated with a 3-3.5 on rubrics. Analysis and Correlation are representative of highest level
of understanding/application.
Standards-
C. Economics: Students draw on concepts and processes from economics to understand issues of personal finance and issues of production,
distribution, and consumption in the community, Maine, the United States, and world.
Business Plan-
Consumer sales
Age ________________________
Income: ________________________
Geographic location: (Where you live) ________________________
Buying habits of potential Customers (Who will buy your product?) ________________________
How much will they use the product?: ________________________
Business Sales
Industry: ________________________
Purchasing/decision maker: (Who runs the business?)________________________
How big is the market? ________________________
Is the market growing, static, or declining? ________
How much of the market can you reach? _______________
In what geographic areas (Where) are those kinds of businesses and/or consumers located? ______________________________________
______________________________________
How will you get your products or services to them, or how will they (customers) get to you?
Where will they buy your product?)____________________
Who are your competitors? _______________
______________________________________
______________________________________
How will you distinguish your products or services from theirs?
Describe your product.
Price ________________________________
Performance (What it does?) ______________________________
Quality ________________________________
Size, color ________________________________
Other ________________________________
Is there really a need for another business like the one you are planning to start?
How will you advertise your business?
______________________________________
_____________________________________
How do other businesses like the one you are considering get customers?
______________________________________
______________________________________
Do you know how to price the products or services you plan to sell?
Do you know what other businesses are charging for products and services like those you plan to sell?
What have you done to find out what your potential customers really want to buy?
______________________________________
______________________________________
If you will be selling products, do you have a system devised for tracking inventory and determining when to reorder? (How will you know how many you sold?)
Where will you get your resources if you are selling a product? (Where will you get the materials to build your product?)
______________________________________
Who will actually do the selling? You, or a salesperson? ______________________________________
How much money do you have now to put into this business? $_______
How much money do you need to start this business? $______
How much credit will you be able to get from suppliers (people you will have to buy goods or services from)? $_______
How much money do you expect to make per year from this business (salary and profit on investment)? $_______
Will you need a partner to supply money or business know-how?
If you will need a partner, do you know someone who would be appropriate and with whom you are sure you could get along?
Have you investigated the pros and cons of working on your own (sole proprietor), with a partner, or as a coporation? (With someone else._
Are most businesses in your community doing well?
Where will you find employees if you need them?
______________________________________
What salary will you have to pay to get reliable help? $_______
Cost per Month/Year
Labor________
Electricity_____
Water ______
Resources _______(What you need to make product.)
Advertisement________
Transportation _______ (Getting your product to market.)
Production______ (Put your product together.)
Factory_______ (Where you will build your product.)
Insurance______
Total Cost per Month/Year______
Cost per product to make_________(Add up costs divided by number of units you need to sell to break even.)
Amount needed per product to make profit._______
Total Profit___________(Minus Expenses.)
Examples-
