Create Your Own Business Project Revised 4t15f

“OWN YOUR OWN BUSINESS” PROJECT INTRODUCTION TO BUSINESS OWATONNA HIGH SCHOOL You will develop a plan to create your own sole-proprietorship business in Owatonna. You will present the following in a paper (Part A) and in a PowerPoint presentation (Part C). You will also develop two (2) forms of ment for your company (Part B). Part A – You will type a paper in unbound report format. Do not forget to document your sources for the “References” page at the end of the paper. 1. Company Description  Describe the business that will succeed in our area and your motivations for starting it  How will the ownership structure benefit your business? – Sole Proprietorship  What is the name of your business? Why have you chosen it?  What resources will you need to start your business?  Describe your top three products and/or services.  What are some of your short- and long-term goals? 2. Business Characteristics  Pricing of products/services  Hours of operation  Location in town for your business. 1. Describe the location including other businesses in the area. 2. Include a map of the location. 3. Defend your reasons (at least 4) for choosing this location. 3. Evaluate your ability to compete in this industry  What is the condition of the industry and the economy as a whole?  What is the NEED for this product/service in Owatonna?  Name at least three competitors (direct and indirect). 1. Give two strengths of each. 2. Give two weaknesses of each.  Your business’s strengths 1. What special features of your business provide benefit to your customers? 2. How will you capitalize on your competitors weaknesses and overcome their strengths?  How will you fulfill your social responsibilities? 4. Customer Analysis  Who is your target market? (location, number and resources)  Describe your customers. Where do they live, work, and play?  Based on the research of the target market, what is your sales forecast?

5. Develop specific marketing strategies to reach your target market  Describe your major marketing activities. (Page 199+)  How will you project a professional image?  What type of advertising will you use?  How will you network with other businesses, professionals and customers? 6. Describe your organization and human resources management (Chapter 15)  How many employees – FTP, FTT, PTP, PTT.  List employee skills and education needed for each position.  How will you recruit employees?  What benefits will you offer?  Include an organizational chart. 7. Describe other aspects of your business as they apply.  e.g. technology, diversity, corporate culture, etc. 8. Defend your belief that the business will be successful in Owatonna  Consider the environment (future trends, economic, technological, social, and political).  Consider all the aspects of your plan. 9. Include a reference page listing the resources that you used for this project Part B Create two (2) ments for your business from the choices below 1. Magazine, newspaper, flyer, webpage or brochure – pick 1 2. Create a commercial or a radio ment and record on iPad – pick 1 Part C Your PowerPoint presentation will include: ♦ the information in your paper in condensed format ♦ from 10 to 12 slides in your presentation including your map and organizational chart ♦

When complete:  Save your presentation in your Google Drive folder  Check with Mr. Olson before printing  Print a handout for Mr. Olson with 6 slides per page