This project will require you to identify a business that you would like to own or manage,

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Question:

This project will require you to identify a business that you would like to own or manage, develop a master budget, provide a budget justification/list of assumptions, and identify areas that you would focus on to ensure their success. The budget period must be one year.

You will select a business and then develop a master budget for the business. You will also provide a budget justification, which is a breakout that lists the assumptions and resources you used to come up with the numbers in your budget. A good resource to utilize is Biz Stats or another standard cost / benchmarking site.

Documentation Required:

All sources should be cited using APA formatting.

Report Requirements:

You will submit a report addressing the following:

Brief description of your business including: Desired Location, Hours of operation, Services provided, and Description of space needs.
Master Budget for a one year period
- At minimum, must include:
  - Sales
  - Costs of Sales/ Costs of Good Sold
  - Gross Profit
  - Salary & Wages
  - Benefits
  - Rent
  - Advertising/ Marketing
  - Net Profit
  - Budget Justification for the numbers provided in each line item
Reflection:
- Answer the following two questions:
  - As the owner or manager of this business, what areas would you keep an eye on to ensure peak performance?
  - What type of analysis would you perform to ensure you are on the right track an