For this course, you are going to create a fictional business and develop it throughout the course. Be sure to save all of the assignments related to this business because your instructor may require you to turn in a portfolio at the end.
Since you will be working on this business for a while, choose something that interests you. You may already have an idea for a business. If not, what are you passionate about? What do you wish was available in your region but is not? What kind of business would you like to learn more about? These kinds of questions can help you figure out what kind of business to open.
In order to fully explore all aspects of business, yours cannot be a sole proprietorship or a partnership (even though these are the starting point for many businesses). You need to choose one that can have a defined structure. Your business also needs to be a for profit, public business.
Those who want to open a business will spend a lot of time convincing others that their business is worthwhile. For this assignment, you will prepare a presentation using the presentation software of your choice. The purpose of this presentation will be to illustrate that you have a solid understanding of the different kinds of businesses and their structures by clearly defining yours.
The presentation needs to address all of the following:
What is the purpose of this business and what is its product?
How will the business benefit the community?
Assuming the business begins as local, how far do you intend to expand and why? If the goal is to remain local, explain why.
Who will the owners be and what kind of ownership will it have?
What kind of structure will it have initially?
Under what conditions would it make sense to incorporate another kind of structure? Explain why the structure you choose fits these conditions.
Your presentation should have no more than 20 slides. A good presentation should have some illustrations or images, so use a minimum of five. You also need to make sure that your presentation is well organized. All writing should be easy to read and free of mechanical errors. my business is a sprint car parts shop
1 answer
Presentation Outline: Sprint Car Parts Shop
Slide 1: Title Slide
Business Name: Sprint Speed Parts
Your Name
Course Name
Date
Slide 2: Introduction
Brief overview of Sprint Speed Parts
Introduction to the sprint car community and the significance of high-quality parts
Slide 3: Purpose of the Business
Mission Statement: To provide high-performance, durable, and affordable parts for sprint car enthusiasts.
Vision: Become the go-to supplier in the region for all sprint car needs.
Slide 4: Products Offered
Product Range:
Engines
Chassis components
Tires and wheels
Suspension parts
Maintenance tools and kits
Include images of sample products
Slide 5: Community Benefits
Supporting Local Racers: Helps local drivers access quality components for their vehicles, improving their performance.
Job Creation: Hiring local staff for sales, customer service, and warehouse management.
Community Engagement: Sponsorship of local sprint car events and teams to promote motorsports.
Slide 6: Target Market
Demographics: Local car enthusiasts, professional sprint car drivers, mechanics, and racing teams.
Geographic Reach: Initially focusing on the local racing community.
Slide 7: Market Need
Analyze the current market for sprint car parts in the local area.
Discuss gaps in service or product offerings that Sprint Speed Parts will fill.
Slide 8: Expansion Plans
Initial Focus: Establishing a strong local presence.
Future Expansion: Potential to expand regionally within 3-5 years depending on business success.
Reasons for Expansion: Increased demand, a strong customer base, and positive community feedback.
Slide 9: Ownership Structure
Type of Ownership: Corporation (C-corporation)
Owners: Team of 4 investors, including yourself, who are passionate about racing.
Slide 10: Business Structure
Initial Structure: Corporate structure with a president, vice president, financial officer, and marketing officer.
Roles and responsibilities clearly defined for each member.
Slide 11: Why a Corporation?
Benefits:
Limited liability for owners
Easier access to capital through shares
Longer-term sustainability with a defined structure
Slide 12: When to Consider Different Structures
Discuss conditions under which it might make sense to restructure:
