dministration work). He is wondering about her company's service mix and how it can be used After graduating from a diploma of business administration in Victoria, BC, Charlie got hired as o maximize revenues in relation to the work hours invested. He is also wondering if it better to in executive assistant to Francine, the HR Director of a local manufacturing company. He has arge per hour or on a per project basis been working at the job for the past three months. His role includes scheduling and attending meetings, sending emails, and coordinating interviews and applications on job opportunities. He To get his business started, Charlie will need about $500 in supplies including gloves, masks, works part-time 3 days a week from 8:30 am to 4:00 pm and is paid about $38,000 a year. cleaning material, dusters, garbage bags, liquid bleach, labels and the like. He will likely need to replenish these supplies once a month. Charlie has saved $5,000 to invest in the business. During his free time, Charlie volunteers as a cleaner for a non-for-profit organization called Harmony Caregiving. The organization supports seniors to age-in-place helping to keep their He currently uses public transport but wants to purchase a gas vehicle to drive to and from homes clean. The organization is run by donations made possible by large corporate donors and various places and to help carry his supplies. He is thinking about doing a pros and cons analysis community partners, as well as volunteers like Charlie. Although he enjoys the structure of the of purchasing versus leasing a vehicle. He has found a 2019 used car on sale for $17,500 but he corporate environment, Charlie feels much more satisfied by his volunteer work with Harmony is also looking at maybe leasing a hybrid vehicle on a three year lease, 24,000 kms from the Caregiving dealership for $269 a month at 5.99% interest with $3,000 as a down payment. If he were to buy a vehicle he thinks it would be useful for 5 years. Charlie is also planning to purchase an Sensing that he may not be happy in his assistant job, Francine has offered Charlie a full-time industrial vacuum cleaner for $1,800. He's unsure how the vacuum and vehicle would be position with the company, upping his salary to $62,400 per year plus benefits which equal reflected in his financial records. approximately 18% of his salary (paid vacation, pension, medical and dental benefits etc.). Charlie is looking into different methods of online scheduling to reduce administrative time and At the same time, due to his enthusiasm and great effort at Harmony Caregiving, the President believes the best method is to start a website with an online booking capability. He has a friend, of the non-for-profit organization has offered him a full-time position in the advancement Tamara, who is a tech wiz and is willing to help create and host a website for a one-time fee of (donation) department. This position would entail working directly with prospective and existing $2.500 and an annual licensing fee for the scheduling software of $200. With the additional donors. His starting wage would be $20 an hour but he would be entitled to a 5% bonus equal investment in online scheduling, Charlie expects the number of customers to increase by 25% to all new donations he brought in. for each type of service. Even though Charlie is excited about both offers, he has always wanted to work for himself. Tamara has also offered to be brought on as a 33%% business partner and is willing to cover the Therefore, he is contemplating ning business. Charlie sees a trend of cost of creating the website and the advertising costs with Google as well as taking on the individuals getting busier, and consequently, lacking the time or energy to keep their homes bookkeeping for the business. Charlie is uncertain if he should accept Tamara's offer. She clean and organized. With his home cleaning/organizing business, he could help people worked a few summers at H&R Block but does not have a formal accounting background. maintain tidy and organized homes. To kick things off, he has done some research and Charlie wonders if it might be less expensi kkeeper? Or if he brought Tamara on, gathered some numbers. Admittedly, accounting was his worst subject in his diploma, so he is what business structure would be best? seeking your help in analyzing his options. f Charlie needs more money than his initial savings, he has spoken to the bank and it is willing If he were to start her own housekeeping business, Charlie forecasts these figures: to provide her with two products: ) a 7-year loan of $20,000 at 7.25% per year requiring monthly repayments, or bj a revolving line of credit of $18,000 at 7.00% per year better for him. He doesn't understand the difference between a business loan and a line of credit, so an explanation there would also help House $70/hour Once a week 2 hours General Housekeeping, dusting. cleaning for bathrooms, kitchen deep scrub. Since Charlie is not great with projections and numbers, he is asking you for help in deciding if individual mopping floors, and vacuuming this business is lucrative enough to pursue and if he should quit his executive assistant job and/or volunteer role. Charlie wants specific advice on what he should do. He wants to know if Professional $50/hour As needed Minimum of | Organizing pantries, garages, pursuing Charlie's Cleaning business is a good idea or if he should accept one of the other jobs organizing 4 hours closets etc, setting up a home offers on the table, as well as the other questions he thought of as he was describing the after a move, packing and business to you. decluttering Estate $1,200 per |As needed 3 days Clean out homes of seniors organizing job needing to downsize, moving to continuing care or recently deceased, donating and recycling generic "non sentimental" goods to make the job more manageable for family members Social media $50 to 3 - 5 week 2 hours to Record and edit content, engage content $100 per create and with audience post edit Charlie estimates that, based on his existing connections and some word-of-mouth marketing. he can generate some quick success in his first year on the physical cleaning and organizing business. He believes he can book 15 individual houses and 3 professional organizing jobs on a weekly basis, and 1 - 2 estate organizing jobs a month. For the social media content, Charlie has researched that influencers with more than 1,000 followers may be attractive for brands advertising their products. Charlie has casually been creating social media content for years, and wonders if he could turn the cleaning business into an avenue to attract more social media followers to monetize his social media posts. He currently has 750 followers, and estimates that he would need six months of professional posting (2 hours per post of creating and editing time) before he could start to attract advertisers and monetize his social media content