The business I chose to create was a grocery store.
Step 1: Choose a business that you could potentially open and/or run. You will need to choose a product or service that your business will provide. Write a paragraph in your final paper describing your business, product, and operation. Submit a copy of your paragraph to your professor by 9/6/18. Step 2: You will need to make two lists; one of all variable costs associated to produce your product or service, and a list of all of your fixed costs for your business. Variable costs should be listed in terms of per product, fixed costs in terms of per month. Be sure to provide a total for both types of costs. Design a spreadsheet showing these costs to include in your paper. Submit a copy of your spreadsheet to your instructor by 9/20/18. Step 3: You will develop 3 potential price points for your product. Price point one: research your industry and choose what the typical market price is for your product. Provide documentation in your paper Price point two: Set this price point so the contributive margin is 50%. Provide the calculations in your paper. Price point three: Choose the price point that you believe makes the most sense. This shall be a different price from the first two prices. Provide your justification for your choice in your paper. With this information, you will need to determine a breakeven point for each of your three price points. Provide your calculations in your paper. Submit this to your professor by 10/4/18 Step 4: Your professor will supply you with three projected sales levels (monthly) as to have sales levels for the upcoming quarter. With this information you will develop the following budgets: Sales, production, cost of material, cost of labor, and the income statement. Include a spreadsheet of each in yourpaper. Submit the spreadsheets to your professor by 10/25/18 Step 1: Choose a business that you could potentially open and/or run. You will need to choose a product or service that your business will provide. Write a paragraph in your final paper describing your business, product, and operation. Submit a copy of your paragraph to your professor by 9/6/18. Step 2: You will need to make two lists; one of all variable costs associated to produce your product or service, and a list of all of your fixed costs for your business. Variable costs should be listed in terms of per product, fixed costs in terms of per month. Be sure to provide a total for both types of costs. Design a spreadsheet showing these costs to include in your paper. Submit a copy of your spreadsheet to your instructor by 9/20/18. Step 3: You will develop 3 potential price points for your product. Price point one: research your industry and choose what the typical market price is for your product. Provide documentation in your paper Price point two: Set this price point so the contributive margin is 50%. Provide the calculations in your paper. Price point three: Choose the price point that you believe makes the most sense. This shall be a different price from the first two prices. Provide your justification for your choice in your paper. With this information, you will need to determine a breakeven point for each of your three price points. Provide your calculations in your paper. Submit this to your professor by 10/4/18 Step 4: Your professor will supply you with three projected sales levels (monthly) as to have sales levels for the upcoming quarter. With this information you will develop the following budgets: Sales, production, cost of material, cost of labor, and the income statement. Include a spreadsheet of each in yourpaper. Submit the spreadsheets to your professor by 10/25/18
