Mr. Lassiter's History Page
Create Your Own BusinessYou will be opening a new business in Wake Forest. Your business may provide a good or service – restaurant, clothing store, hardware store, etc. You will come up with a business proposal, logo, slogan, jobs and job descriptions (owners, managers, cashiers, servers, etc), a 30 second TV ad, a newspaper advertisement, grand opening post card (introduce your new business to the community, could include coupons), create classified ads for hiring your employees, and create a webpage.1. Business Plan (50 points)Name of your business, hours you will be open, location (find a real location in Wake Forest and check the monthly rent)Why are you creating this business? Give important details about your business idea and make sure you include the basic economic question of what to produce, how you will produce it, and who will you provide it for.Target Market – who will be the people most likely to buy your product(s)? What kind of incentives can you create to make people buy your product?Competition – Who is your competition (list specific businesses in this area). If you don’t think you have competition, explain why.Operational Plan – address the four factors of production and provide examples of each that you will need for your business. How will you create a productive and efficient business? (specialization, division of labor, human capital) Costs – describe fixed and variable costs, and explain each. How can you potentially cut costs?2. Develop your Logo (10 points)Consider the various company logos – what makes it stand out / memorable?This logo will be on your outdoor sign, in your advertising, and all paperwork (bills) that you produce3. Slogan (10 points)Think about the popular slogans that people remember – “Just Do It”.Create a slogan that is 3 to 7 words. Will this be a part of your logo?4. Job descriptions (10 points)Position titles Who does this employee report toPaySummary of jobList of specific skillsEducation neededCreate a classified ad that could be posted on an internet website or in the newspaper5. Advertising (10 points)Design a full page ad for your business that could be in a magazine (8 ? by 11 sheet). Research how much a full page ad would cost in a magazine or newspaper. Explain why you chose this particular magazine or newspaper.Make sure you include the business name, logo, location, purpose, slogan/selling point6. Flyer for Grand Opening (10 points)Create a post card sized mailer that will be sent out. What neighborhoods will you target? Include any grand opening incentives or discounts.7. TV Advertisement (20 points)Create a 30 second TV ad focusing on your business. Research when you would like to have your ad show. Prices will vary depending on what time slot you choose. For example, would you want your ad to show in primetime (8-10), during the 6 o’clock news, late night, mid-day, morning…. Include your script when turning in your finished project.8. Business expenses (20 points)Your group will need to research the costs of outfitting your business. For example if you are operating a restaurant, you will need to find out the costs of furniture, develop a menu, research costs of food, etc. If you have a clothing store, you’ll need to find the costs of clothing racks, shelving, decorations, etc. Make sure you are VERY specific!!9. Webpage Design (20 points)Design a webpage for your business. Include any information that you have already created. Weebly and others will allow you to set up a site. Things to consider – logo, slogan, location (map?), coupons, menus or store items, things on sale….10. Daily Work – “Time Sheet” – (5 points per day)*Major key for success – division of labor! Make sure everyone has work for each day that is given in class. You may want to create jobs – business owner, manager, web designer, advertising, etc. Everyone needs a job title.Assign someone in your group to record what each member of the group 1) set out to accomplish at the beginning of work, 2) actually accomplished – achieved their goal – with an explanation for either failure or successHold a brief business meeting at the beginning of work each day to establish goals and decide what needs to be accomplished. Is anyone absent from work today?At the end of the work day, the person who recorded the time sheet needs to check over the work completed.Make sure you record the start and stop times each day. Is it efficient to stop working at 2:05, 2:10…?You will submit your time sheets in your final portfolio.11. Interior architectural design (10 points)Create a map of the interior of your business that includes where you will locate various pieces (restaurant – map where your tables will be, hostesses stand, bar area?, kitchen, restrooms). Explain your choice of layout – why did you locate things where you did?12. Final Presentation (100 points)Create a Powerpoint presentation that would encourage investors to give you capital to build upon your ideas. Sell us your business! Presentations will include:your overall idea/plan – your sales pitchdescription of your businesstour of your webpageyour TV adand anything else that you feel would enhance your presentationPresentation – enthusiasm, knowledge, preparedness/organization, speaks clearly, transitions, required materialsPortfolio – Finished productPut your business plan in a binder organized with a table of contentsInclude all the steps above with explanations/descriptions/picturesYou should also have a “time sheet” for each day your group worked on the projectDaily Work – “Time Sheet”Job TitleGroup Member’s NameWork to be done – be specific in what needs to be accomplished in the amount of time given for work Success / Failure – did you reach your goal for the day ................
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