Studied by 0 people
Looks like no one added any tags here yet for you.
In-depth market analysis
A comprehensive examination of market conditions, including demographics and buying power.
Geographic area
The specific location being analyzed for market potential.
Median income
The middle income level of a population, used in demographic analysis.
Public sector
Government entities (county, city, state) that make submitted information public.
Tax revenue
Income generated for a city from various fees and taxes.
Business types
Different structures and management styles of businesses.
Organizational structure
The arrangement of roles and responsibilities within a business.
Free market economy
An economic system where prices are determined by unrestricted competition between privately owned businesses.
Advantages of starting a new business
Control, flexibility, and decision-making power.
Start-up costs
Initial expenses incurred when starting a business.
Barrier to entry
Obstacles that make it difficult for new businesses to enter a market.
Human resources
The department responsible for hiring and managing employees.
Franchise advantages
Established model, brand recognition, and lower risk.
Franchise disadvantages
High costs, restrictions, and royalty payments to the main store.
Buying a business advantages
Existing systems, customer awareness, and established employees.
Buying a business disadvantages
High costs and potential unforeseen problems.
Forms of business ownership
Various legal structures including sole proprietorship, partnership, LLC, and corporation.
Sole proprietorship
A business owned and operated by a single individual, the most common form in the US.
DBA (Doing Business As)
A legal term allowing a business to operate under a different name.
Assumed name certificate
Another term for DBA, particularly in Texas.
Separation of funds
The practice of keeping business and personal finances in separate accounts.
New product launch
The introduction of a new product or service to the market.
Angel investors
Individuals who provide capital for startups in exchange for ownership equity or convertible debt.
Note
Flashcard