Join Rachel Coker, teenage author and micro business owner, and I as we discuss how to take an idea for a micro business and write out the final part of a business plan, the financial plan.
In the video, we explain that in a financial plan, you want to list any start-up expenses you may have including: equipment, storage, start-up inventory, advertising, and maybe even a license such as a trade name registration.
Next, you’ll want to list out the costs, your profit, and your pricing.
Finally, you’ll want to estimate your sales and calculate a break even point.
For more information about how to start your own micro business and how you can write out your very own business plan, check out Carol Topp’s series of books, Micro Business For Teens, available at: MicroBusinessForTeens.com,and Amazon.com
Carol Topp, CPA