Economics project help!?Business budget worksheet ?

So I have to come up with a business

And my business is going to be about the

Farm and selling meat and milk etc

Do you guys think I should start off with a different type of business???

I don't know what you call that but I have to

Include the following :

Description of business: processing meat

Milk

Identify local competitors:

What local competitors?

What advantages do you have over your local competitors : what does that mean ?

Umm well I believe my cows and animals are well nutritioned..

What products or services will you offer(list four examples)

Meat

Dairy food, milk etc

Chicken

Pork

STARTING COST:

Renovation/building cost:

$900,000

Marketing : ???

Equipment: $800,000

Insurance/licenses:????

Website development:????

Initial inventory : ???

Uniforms: $5,000

Security deposit : $300,000

Furniture :$900,000

Stationery and business cards : $3,000

Total starting cost: Not yet till

Someone help me figure this out

COST PER MONTH:

Rent: ?? I'll have a farm that won't need it?

Utilities :

Advertising: $100,000

Cost of inventory: ?

Insurance :$ ??

Employee salaries : $10 -15 minimum wage

Cleaning supplies: $100,000

Loan repayment : ???

Total:?

1 Answer

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  • 9 years ago
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    Imagine that you are actually developing this idea in real life, who can be your competitors? Probably it's going to be local stores which sell similar products to yours. What will you provide to your consumers which your competitors don't? Your example with cows and animals being well nutritioned is good but also think about the service. You're going to deliver excellent customer and after sales service, for example.

    Advertising is part of marketing, advertising doesn't come under utilities. Initial inventory is your stock I think. As for rent, you need a place where you're gonna sell your products. You can rent it out therefore you need to come up with a cost. If you've taken out a loan, how much per month you're gonna have to give back? Hope that helps.

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