The+Business

(1). Decide on a product you will sell or a service you will offer. Consider: a. Market
 * Business Project:**

(2). Who will buy your product or service? The people who will buy our products are the students of Burdick and the teachers of Burdick.

(3). Why will people buy your product or service? People will buy our products because it is a new item in the business & people will probably thinks its appealing and or interesting. a. How will you make the product or deliver the service? We will make the product by using the teacher's lounge, and deliver it by setting our business up in the cafeteria, which we will sell it to the students as they walk by.

(4).Startup costs; How much does it cost to create the product or deliver the service, and is this money available? For our first item, which is the corn dogs our starting cost is $1.50. Our second item is popcorn, and our starting cost is $.50-.75. Finally, our third item is mustard and ketchup packets, which the starting cost is $.10.

a. What materials and equipment are needed? Popcorn machine, cups, holders for corn dogs, corn dogs, popcorn kernel jars, ketchup and mustard packs, and oven.

b. How difficult is it to make the product or deliver the service? Overall, the experience of cooking it ourselves shouldn't be that hard, but the only challenge is going to be not burning the food or having time to cook it.

(5). Discuss the best method for creating the product or delivering the service: a. What roles will be created to make this process work? Well Josie and Elizabeth are the managers & Creative Design/Marketing in our business. Then come along me and Marisa who are the Finance/bookkeeping/Laborers. Identify the roles of each worker 1**.** Manager(s): Josie + Elizabeth. 2. Laborers: Marisa + Asha 3. Creative Design/marketing**:** Josie + Elizabeth 4. Finance/bookkeeping: Asha + Marisa 3. Discuss Marketing: a. Is there a market for your product/service?: Yes there is. i. Who will buy your product/service?: The students and or teachers of AE burdick school. ii. How much will you sell the product/service for?: Corn dogs: $ 1.50, Popcorn: $ 50- 75 cents. Ketchup packets: $ 10 cents. 4. Discuss Competition: We will be competing with the students of AE burdick, a. What products or services, within school and outside of school, compete with your product/service? The competitors of AE burdick. b. How will you deal with that competition? The people of A.E Burdick will be competing with us in the business industry.

1. Cover sheet a. Company Logo:
 * Business Plan:**

b. Contact information for the company i. Contact people: Josie, Elizabeth, Maria, Asha. ii. Address: 4348 s griffin ave. iii. Phone number: 294- 1200 iv. Email addresses: s8289969@milwaukee.k12.wi.us

2. The Body of the Plan a. Description of business i. Introduce the business and the products you will make or the services you will offer: Corndogs, Popcorn, Ketchup packets. ii. Identify the location of your business: A.E Burdick School.

b. Marketing i. Identify the target market for your product/service (create a business survey). ii. Identify the price for which you will sell your product/service. Corn dogs: $ 1.50, Popcorn: $ 50- 75 cents. Ketchup packets: $ 10 cents. iii. Identify the methods you will use to advertise your product/service:

A. Commercials (audio and video). B. Business cards: We will use Business cards to advertise our products. C. Flyers: We will use Flyers to advertise our products. D. Panther Post advertisement: We will not use this method. E. Catalog: We will not use this method. F. Any other:

c. Competition: The students in 8th grade of A.E Burdick will be competing with us in the business industry. i. Identify the competition for your product/service. d. Operating procedures i. How will you make your product or deliver your service? We will make the product by using the teacher's lounge, and deliver it by setting our business up in the cafateria, which we will sell it to the students as the walk by. A. Identify the materials and equipment needed: Popcorn machine, cups, holders for corn dogs, corn dogs, popcorn kernel jars, ketchup and mustard packs, and oven. B. Identify the process used to create the product or deliver the service: We will cook the food in the teachers lounge and set it up at the cafeteria. Then sell it to the student and or teachers of A.E Burdick.

e. Personnel i. Identify the roles of each worker: a. Managers: Josie + Elizabeth b. Laborers: Asha + Marisa c. Creative Design/Marketing: Josie + Elizabeth d. Finance/bookkeeping: Asha + Marisa f. Finance: i. Identify how you will finance your product/service:

Economics Terms Define the following:

1. Supply- How much you get of something.

2. Demand- The quality of a good, that people are willing to pay large amounts for.

3. Scarcity- Not a sufficient amount of supply.

4. Producer-A person responsible for financial purposes.

5. Consumer- People that, use goods or services, to satisfy there needs, that are not for sale.

6. Goods- The supply of the stuff your selling.

7. Services- Activities performed by people, or government to satisfy the community.

8. Entrepreneur- The word entrepreneur means a person who starts their own business with the aim of making a good profit.

9. Cost- An amount that must be payed to obtain something.

10. Opportunity Cost- The opportunity cost is the second best thing or option that must be given up when limited resources are used for one purpose instead of another.

11. Competition- Attempts by two or more people to achieve the same financial service.

12. Income- The payment that the company received for goods or services, or from other sources.

13. Expenditure- Goods & services provided by the government, & payed for taxing borrowing.

14. Barter- Trading goods or services, in return for other goods or services without using money to do so.

15. Inventory- A list of goods held by a person & or business.

16. Invest- To use money to purchase in something offering potential profits from.

17. Material- The substance of which something is composed into.

18. *Capitalism- The word capitalism means a system of economics that determines the competition in the free market.

19. *Socialism- Socialism is a political theory in which the production, distribution, and exchange are in charge by the community collectively, mainly by the state where they control the economy.

20. *Communism- Communism is the theory in which the distribution of products and the collective ownership of property is based on need.