FN42 Unit 4.02 LCBM

Question 1

Rent = $1,500, utilities range $350.-$525, Internet is $150, linens $125.- $275/month. How much are montly fixed expense

Accepted Answer

$1,650

Question 2

After assessing the needs of a community, potential customers, and developing a business slogan, What is the next step?

Accepted Answer

channels

Question 3

What is the first step in sarting a sports nutrition business?

Accepted Answer

decide what services and products his sports nutrition clinic will provide

Question 4

After completing the LCBM for a new restaurant, What is the next step?

Accepted Answer

pitch his idea to financiers

Question 5

A catchy mission statement and a successful advertising campaign, business is great! Which step did the owners do well?

Accepted Answer

unique value proposition and channels

Question 6

After identifing the problem, the target customers, and research how to provide a product, what is the next step?

Accepted Answer

unique value proposition

Question 7

If donuts are made for $1.50/doz and sold for $9.00/doz. How much profit will be made in 1 day if 60/doz are sold?

Accepted Answer

$450.00

Question 8

Margo's soup sales drop during the summer months. What can she do to increase sales?

Accepted Answer

Try selling cold soups as a menu option during the warm months of the year

Question 9

The purpose, customer torget group, and the single, clear, compelling message has been developed. What is next?

Accepted Answer

solution

Question 10

If sales decline and it is hard to pay the bills, what step should be evaluated first?

Accepted Answer

key metrics

Question 11

To charge a special hot sauce $3.50 = 30% profit but will sell a few. $2.75 = less profit. What is a good strategy?

Accepted Answer

sell at a lower price first, gain a customer base, then raise the price.

Question 12

After looking at fixed & variable expenses, Josh needs to rethink his financial plan. What part needs to be reassesed?

Accepted Answer

revenue streams

Question 13

Kims sells veg. &flowers from her garden at the farmers market. She wants to start a business. Where is kim in her plan?

Accepted Answer

solution

Questions 13