Tom's Bikes Tom has been running a small business custom building touring bikes for friends for several years and has decided to expand his company to manufacture high-end bikes for a broader market. Tom thinks that he can sell as many as 75 bikes per year for $10,000 each, and with his cost of goods, shop rental, marketing and advertising costs of $525,000, will have a tidy sum left for himself. Tom thinks that at least half of his production will be sold to elite touring racers from France and Italy. Most of Tom's bikes are manufactured to be custom fitted to the physical size and preferences of the racers. Tom has employed a number of people to help build his bikes. Tom feels that his employees are not very skilled and that he needs to watch them every minute. He waits for them at the door to see when they come in and carefully times their breaks. He often yells at employees if he feels they are not working fast enough. Tom has come to you for advice on starting his company. Questions Questions will cover material from throughout the course. Questions are all written response (no multiple choice). Areas you should be prepared to cover are: 1. Rudimentary finance issues including revenue and cost calculations 2. Forms of business ownership 3. Sources of funding 4. Management theory Tom's Bikes Tom has been running a small business custom building touring bikes for friends for several years and has decided to expand his company to manufacture high-end bikes for a broader market. Tom thinks that he can sell as many as 75 bikes per year for $10,000 each, and with his cost of goods, shop rental, marketing and advertising costs of $525,000, will have a tidy sum left for himself. Tom thinks that at least half of his production will be sold to elite touring racers from France and Italy. Most of Tom's bikes are manufactured to be custom fitted to the physical size and preferences of the racers. Tom has employed a number of people to help build his bikes. Tom feels that his employees are not very skilled and that he needs to watch them every minute. He waits for them at the door to see when they come in and carefully times their breaks. He often yells at employees if he feels they are not working fast enough. Tom has come to you for advice on starting his company. Questions Questions will cover material from throughout the course. Questions are all written response (no multiple choice). Areas you should be prepared to cover are: 1. Rudimentary finance issues including revenue and cost calculations 2. Forms of business ownership 3. Sources of funding 4. Management theory