This assignment concerns introducing a small business start-up idea with a total initial budget of less than 500,000 CAD located in Vancouver ONLY (North Vancouver, Lynn Valley, West Vancouver, Richmond, Delta, Surrey, UBC, West End, Kerrisdale, Burnaby, Templeton, and Downtown). The primary purpose is to evaluate students’ business knowledge before starting the first Team project (Primary Project). The assignment will NOT be graded. The instructions are as follows: • Students are NOT required to write a business plan, business report, or business proposal for this assignment. Students are NOT required to make slides for this task. • The main requirement is to conduct research and answer the following questions one by one based on the research findings and personal qualifications (s). Students are highly recommended to conduct more profound and accurateresearch to complete the questions. • Students may skip questions if they are not certain due to little experience and/or knowledge. • At least ONE question should be completed. • All research links should be placed beneath each question if external references were utilized. • Following this assignment, students should present their business idea with the researchfindings to their team members AFTER the announcement of the teams by the instructor. • It is NOT mandatory to have template, or page limit to complete the tasks. • The following questions are the main target of the research, and the ONLY requirement is to finalize the answers individually for each question (one by one). Who are your target customers? What is your expected sale in the first year? What is/are your product(s) or service(s) offered? How many staff do you need for your business? Why should people choose your business? What is the uniqueness of your business andproduct compared to other competitors in the market? • How many competitors do you have in the market? • What is your start-up expenditure (all expenses before starting a business)? • How do you provide money for your business? What are the sources? • How much are all your expenses in the first year? Also, break down your expenses into months. • What is the price of your product/service? • How do you advertise your product/service? • Where is the location of your business? • How do customers find you? • How do you deliver your product or service to the customers? • How long does it take to deliver your product or service? • How long does it take to process (make) your product or service? • How many licenses are required to launch the business? • Do you need to use technology to run your business? If yes, specify the type. • What is your marketing budget for the first year of the business?
