You want to start a summer business to earn money. What will you do? You have to consider how much money you can afford to invest in this business, how much it will cost you to make each item, and how much you’re going to charge for each item. Research something that would be reasonable to make and sell with the startup investment you have determined. Example: A lemonade stand.
What is the total amount of money you are willing to invest in this business? (Example: $8.00 for the recipe)
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What item are you going to make and sell? Why? (Example: Cups of Lemonade)
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Describe how your business will work.
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How much will it cost you to make each item?
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How much will you sell each item for?
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Do you think your business will be profitable? Explain your answer.
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What is the total amount of money you are willing to invest in this business?
Enter Answer Here: $50.00
What item are you going to make and sell? Why?
Enter Answer Here: Handmade jewelry. This is because I have some experience in jewelry making and I believe it is a popular and trendy item that people are willing to purchase.
Describe how your business will work.
Enter Answer Here: I will create a variety of handmade jewelry pieces such as necklaces, bracelets, and earrings. I will set up an online store on platforms like Etsy or sell through social media platforms. Customers can browse and purchase the jewelry directly from the online store. I will also offer customization options where customers can request specific colors or designs.
How much will it cost you to make each item?
Enter Answer Here: The cost to make each item will vary depending on the materials used. On average, it will cost around $5.00 to make each piece of jewelry.
How much will you sell each item for?
Enter Answer Here: I will aim to sell each item for an average price of $15.00.
Do you think your business will be profitable? Explain your answer.
Enter Answer Here: Yes, I believe my business has the potential to be profitable. The markup on each item is reasonable and there is a demand for unique and handmade jewelry. By carefully managing my expenses and marketing my products effectively, I can attract customers and generate sales.