Here’s my task list:

1) Write a business plan. Do market research and create cashflow. 2) Research banks (could be done while doing the business plan) 3) Go to the bank to talk to them about getting a loan. Don’t worry about that – every business is different.

I’ve Got a Business Idea – What’s Next?

If you are a newcomer to the world of business, especially the doughnut or food business you have to put in a lot of effort involving marketing research. You need to do this much before you buy a mini doughnut machine.

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Pay attention to how you will fund your business. If you want to place it in a trailer you will need a mobile mini doughnut machine.

Remember that your choice of the machine or rather its efficacy will affect the profit you intend to make in the doughnut business.

Learn all the compliance processes regarding this business. Speak to your provincial Health Department and study the needs for your business.

If you have decided to be a long-term player in this business you should source your spare parts intelligently.

• One is a materials charge.
• The other cost issue is expenses. ;

Training Business – Determining How Much to Charge For Your Training Services

What was the cost of advertising and warehouse expense allocated to each of the business based on the traditional method?

In this case there are two businesses unicycle and bicycle business, the costs are split 50-50 between the two, Advertising expense is 5m, Warehouse expense is 3M and therefore total cost = 5M + 3M = 8M.Using the traditional method the costs are split 50-50 between the two, and therefore each business was allocated 4 million each in costs.

An Activity based costing would be more appropriate in allocation of costs. Activity based costing according to Drury, C. (2000) refers to a method of costing that involves the allocation of costs using cost drivers, costs drivers are activities that are used to allocate costs, according to Stratton (2002) warehouse cost can be allocated using the area as a cost driver.

Unicycle business warehouse cost=75000*30=2,250,000

Bicycle business warehouse cost=25000*30=750,000

Therefore the unicycle business warehouse cost is 2,250,000 while bicycle business warehouse cost should be 750,000.

According to Weetman (2002) the appropriate cost driver for advertising costs is sales, sales for both businesses amount to (bicycles) 20m+ (unicycles) 150m = 170m, total advertising costs amount to 5m and therefore advertising cost per sales unit = 5/170 = 0.029412

Unicycle business advertising cost=150,000,000*0.029412=4,411,765

Bicycle business advertising cost=20,000,000*0.029412=588,235

Therefore 4.411 million of advertising cost should be allocated to the unicycle business and 0.588 million allocated to the bicycle business. The table below summarizes the costs allocated to each business:

warehouse cost

advertising cost

unicycle business

bicycle business

If customers do not prefer what your business will offer, your business will not be able to generate sales.

Otherwise, your business will fail. The break-even point will identify how many customers your business must acquire for revenues to just cover costs, the absolute minimal condition for staying in business.

You need a Business Concept Evaluation

So, your first step in planning a business is NOT to prepare a business plan.

In short, you need to perform an evaluation of your business concept and answer the three tough questions I have listed above BEFORE you plan your business. Otherwise, you may find you are wasting your time planning a business that just cannot work.

Three Questions You Should Ask Before Planning a Business

ICFAI Business School – HYDERABADIntroductionThe ICFAI Business School (IBS) is established to promote quality education, research, training and consultancy in management. Admission ProcedureThrough ICFAI Business Studies Aptitude Test (IBSAT) 2005 will be held on December 18, 2005 (Sunday) all over India.

Almost every insurance agency has small business insurance quotes available. Business insurance is just another part of what insurance companies offer.

The Best Small Business Insurance Quotes

What are the steps in finding great small corporate insurance? Calling different insurance companies and requesting small business insurance quotes might seem like a tedious and daunting task, but when it comes down to what you need your insurance to cover, it’s totally worth the time you put in to it.

Collecting Your Small Business Insurance Quotes Data

Small Business Insurance Quotes Information

If you are thinking about starting your own catering business, you should make it legal right from the start by obtaining a catering business license.

• You should contact your local municipal office and ask about the licensing of catering businesses. You should also research about the state rules involving catering businesses.