1. P3, P4

2. Activity
What costs do you expect to have when you start your new business?
Make a list of as many as you can think of!

3. Lesson Objectives By the end of this lesson you will be able to:
Describe how you will market/advertise your new business
Describe the problems you may face with costs
Apply these to your business

4. Marketing Remember you are a small business with limited finance…
Posters
Leaflets
Sales and discounts (for a limited time only)
Internet (having a website)
Free trial
Logo (for brand identity)

5. Costs? Renting a property Salaries/wages Materials Advertising costs
Lighting
Heating

6. Risks…
Losing money – if the business fails you will lose the money you invested in your business
Security of income – having your own business does not guarantee that you have a fixed income
Repaying the mortgage rates if you purchase a property

7. P3 Explain how you will advertise / market your product.
Create a logo to include on your poster.

8. P4
Create a poster (it can be on the same poster as P3) that explains the costs you expect to have as a new business. It must also say what risks you may face.