Question

Can someone please help me with this question? +Medal

Answer 1

Task 1
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 start- up investment you have determined.
a. What is the total amount of money you are willing to invest in this business?

b. What item are you going to make and sell? Why?

c. Describe how your business will work. How much will it cost you to make each item? How much will you sell each item for?

d. Do you think your business will be profitable? Explain your answer.

Answer 2

a. $150

b. Bracelets. Because they are easy and quick to make, and I will be able to profit from selling them because they will be sold (and are worth more) for a higher price than the materials bought.

c. Not so sure about the cost...The selling amount will be higher than the amount I bought it...Or maybe not depending on how much I sell then it wouldn't matter too much...

d. Yes, because the material bought will be cheaper than the materiel sold, and since they are fairly "popular" items and both boys and girls can wear them, and the fact that they are quick and easy to make, I will end up gaining more than I invested; so I will profit.

Answer 3

This is all three tasks (I will post them one by one):

Answer 4

if you are going to do bracelet then you have to do research about the items that you will buy to create the bracelets, such as beads, etc

Answer 5

and you have to also measure how much of the items that you are going to use to make the bracelet will it take to make one bracelet. Pretty much measure how many items per bracelet

Answer 6

that way you can clearly state why your material will be cheaper than the sell and why will your earnings be successful

Answer 7

@ Daniellelovee What about friendship bracelets then? With thread? That seems to be cheaper...

Answer 8

Truth is, I have no idea about this price stuff...should I buy them individually or in box-sets? How much do they cost? I need help with that stuff...

Answer 9

The sellingprice must be bigger than price you get it at. very important or else you have deficit not profit.

Answer 10

@GreenCat Yes, that's right. Since I plan on buying the raw materials, the finishing product which I sell would be worth more, so I would be selling it for more than I spent. The problem is I don't actually know how much this stuff really costs...

Answer 11

you also have to factor in laborcosts
psying workers

Answer 12

It's an individual business..as in it's just me selling the stuff and making everything. Like a lemonade stand

Answer 13

This is what I've got so far for Task 1:


a. I am willing to invest $150 in this business.

b. I am going to make and sell bracelets. They are easy and quick to make, are worn by everyone, and are also fairly popular. It will cost me about 25 dollars to make 40 bracelets, which is about 2 dolllars (1.6) per bracelet.

c. I will be able to profit from them because the amount that I will end up selling will be more than the amount I end up spending and investing.