• Economics Business Project Guidelines

    Assigned:  6/7 Feb 2020

    First Run Thru: tba

    1.       Professional Drawing (and if you like, a Prototype as well)

    These will be used when you run your idea by the rest of the class for constructive feedback. 

     

    2.  Survey: 

    a.      Typewritten survey questions (include a description of the problem and
    how the product solves the problem)

    b.      Survey results (100 people)

    c.      A graphic interpretation that effectively represents the survey results

     

    3.  Estimated Price

     

    4.  Catchy Name

     

    **Everyone must sign a confidentiality agreement- will be provided in class**

     

    Loan Application Checklist: Due tba
    All work to be submitted in the folder provided     
    The first page must be a Table of Contents

    1.  The Commercial—30 seconds, containing the answers to these questions:

    --What problem does the product solve?

    --How does the product solve the problem?

    --What is it called?

    -- Where can one get it?

    -- Price, if appropriate

    *** You must have a typewritten script (Due w/commercial)

     

    2.  Patent info—costs and process (a list)—use USPTO.GOV

    3.  Form of Business organization with detailed agreement (including each group members role)

    4.  Business Location—Must be in the NP School District, and include:

    a.      zoning and permits if necessary

    b.      building description and modifications

    c.      machinery

    d.      utilities (heat, electricity, h2o), phone, internet, garbage removal

    e.  insurances- fire, theft, and liability for the business

    5.  Raw Materials List-- itemized, per unit price, with source(s) of prices
    6.  Packaging and distribution- ship to Los Angeles CA

    7.  Tools, computers, furniture, office supplies, etcetera (capital)

    8.  Labor, including prices for:

    a.  payroll, meaning how to pay workers

    b.  work schedule

    c.  job descriptions including pay rate

    d.  workmen’s compensation insurance

    9.  Advertising to reach a mass market (what sort of coverage for a given price)

     

    go on to page 2

     

    10. Calculations (based upon 12,000 units per month):  ALL of these must be converted to monthly.

    a.  cost per unit

    b.  price per unit

    c.  profit per unit

    d.  profit per month

                   Don’t worry about the loan calculations—we will do this in class

     

    11.  Amount you wish to borrow:

    -You may only borrow for capital.  When you receive your loan, we will calculate your monthly payment and determine whether your profit will cover your loan payment.  Your work MUST BE typed, and include a table of contents.  I will provide you with a folder.

     

    Amount You Wish To Borrow:$____________

    The Application Process:

    1.      Remind us of your product—What it does, how it works (show your commercial)

    2.      Provide a detailed accounting of the operation of your business (the items from the Checklist)

    3.      If #2 is completed, present us with amount you intend to borrow.

    4.      We calculate payments and disclose terms.

    5.      You get a 100 on the project.

     

                       

    Loan Calculations:  (we will do this in class)

     

                Amt Borrowed______________

     

                Interest Rate:____%

     

                Length of Repayment Period: _____years

                Monthly payment:$_______________

     

               

     
Last Modified on February 5, 2020