How does a giraffe sneeze?

Answer 1

Generating a Business Idea

Directions to the Student

You are going to start a business (as real as we can make it). Your first step is to generate a business idea (one of the 7 business activities) that aligns with the policies and need/wants of consumers in our area. You will recognize a business opportunity in Rome/NW Georgia and present it in an organized and convincing manner using a PowerPoint presentation. You will use the PowerPoint to present your idea at a later date.

1. Select 1 or 2 entrepreneurs to partner with you in generating a business idea.

· Kristian, Micah, Justin, & Autumn

1. Generate a Business Idea that is school appropriate. If you can't sell it at school, choose something else. Answer the following questions for your idea.
2. 1. What will we produce or provide?

· Rock Climbing Facility and Outdoor Recreational Store

1. Who are our competitors?

· Rock Room at Winshape

1. Why is our product or service needed?

· Rock Climbing is a popular sport and people who participate in this activity do not have a place to go in Rome whenever they want, Winshape is only available two business days during the week.

1. How much will our product cost to produce or provide? Estimate.

· Cost is $50 for a one year membership for a single person, $10 a month and $5 for a one time experience. A family of 4 or more will be $20 a person to have a membership

1. How many people will we need to run the business?

· We need enough people to be in charge of the ropes and safety and also enough employees to work in the outdoor recreational store.

o Hours of Operation?

- 11am-10pm Saturdays and weekdays during the summer

- 4:30pm-9pm school days

o Location?

- In the strip mall by T.J Max and Ross

o Roles & Responsibilities?

- Creating an ultra-safe environment with properly trained staff.

- Making the gym group friendly

- Providing the new climber with instruction and encouragement

- Ensuring that the 'fun factor' is high in order to generate strong word of mouth marketing.

1. What physical facilities will we need?

· We need an operating gym with high ceilings to hold our rock walls, and a connected store.

1. How much money will we need to get started? An exact amount is not necessary just explain what you will need money for.

· We need enough money to: fill up the store with supplies, buy ropes, harnesses, shoes, crash pads, holds, and other climbing accessories. Also enough money to hire and pay a staff.

1. How much profit do we expect to make?

· Around $60,000 in the first year

1. What challenges do you anticipate?

· Becoming a known name around Rome and the surrounding towns.

· Getting over the safety issue with parents.

1. Create a PowerPoint presentation to convince facilitator and other participants that you (the team) can make this Business idea work.
2. Present your idea, using the PowerPoint Presentation as a visual aid, to the facilitator and other participants. The goal is to convince us the business will be a success.
3. We will discuss each business idea as a class.