1. What would be the best thing about owning your own business? What would be the worst? (This question requires an extensive explanation supported by examples).
2. For the following Sue’s business, define the unit of sale and calculate the economics of one unit (EOU). After understanding the meaning of EOU and reviewing different examples in your textbook, the exercise below will allow you to practice how to define and calculate an EOU. Your Course Business Plan (to be developed by you as your Final project) will require the definition of your EOU, in other words, what is going to be sold by you and how much it will cost.
Sue, of Sue’s Sandwich Shoppe, sells sandwiches and sodas from a sidewalk cart in a popular park near her house. She sets up her cart in the summers to earn money for college tuition. Last month she sold $1,240 worth of product (sandwiches and sodas) to 100 customers. She spent $210 on the sandwich ingredients and buying the sodas wholesale. Her unit is one sandwich ($4) plus one soda ($1).
4. Business Idea for your Business Plan:
After reading the chapter 1 and 2, you must think an idea to be developed as a business. Please, write a short paragraph explaining what your idea is all about.