Do Now: 1) What is your reaction to yesterdays episode of Shark Tank? 2) Would you have taken on any of those businesses? 3) What could those candidates.

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Presentation transcript:

Do Now: 1) What is your reaction to yesterdays episode of Shark Tank? 2) Would you have taken on any of those businesses? 3) What could those candidates have done to appeal to you more? Tuesday Nov. 19

 The Idea: Come up with a clear idea of your new business  Market Analysis: Who are your customers?  Start-Up: What will be required to get it up and running?

 What type of business are you interested in opening?  Product or Service?  Be specific about your product, restaurant is too broad; Steakhouse is better  Is this a unique idea? What makes your business different?

 What industry are you entering? Ex. Restaurant= Food industry  Is it growing or declining?  What type of customers will you have?  Is this seasonal or a steady yearlong type of business?  What type of competition is already serving these customers?  Will your prices be better? Will you be more convenient?

 What skills are needed for this business? Ex. Technical, financial, business  How much money will you need to open the doors?  Are there licenses or certifications needed to run this business?  How will you

Building Rental Maintenance and Improvement Equipment Utilities (telephone, electricity) Materials/Goods

 Part 1: If you were to start your own business what would it be? >>>>Write it down!!!  Part 2: What would you need to start your own business? >>>>Write this down! Ex: Hair Salon  Store front  Salon Chairs  Hair washing sinks  Supplies (blow dryers, scissors, etc)