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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
- 9 years agoFavorite Answer
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.
