Select a small business or service line that you would like to own and operate. Research what the annual operating,
Select a small business or service line that you would like to own and operate. Research what the annual operating, investing, and finance inflows and outflows would be if you operated such a business in your area. Some possible references include the following:
www.sba.gov: Information on estimating startup costs as well as writing a business plan.
www.business.gov: Information on 10 steps for starting a business.
www.sbinformation.about.com: Description of the top 10 small business expenses, along with tips on how to manage them.
www.startupnation.com: Example of costs associated with starting a service-oriented business.
www.homebusiness.about.com: Information related to running a business based out of the home.
a. Describe the business and what the top 10 costs would be.
b. Describe the relevant information that you gathered as if you were writing a one-page business plan to get financing from a lender. Give the business’s goals, identified opportunities, and challenges.
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