Which choices will help you cut back on expenses so that you can spend more money on promotions or advertising? Check all that apply.Move to a higher-rent building.Use less-expensive ingredients.Look for discounted or used machines.Hire a young employee at minimum wage.Hire a manager to help the business grow.
Which of the following did you include in your notes? Check all that apply.
Which choices are most likely to help you beat your competition by gaining more customers and selling more frozen yogurt? Check all that apply.Invent a new flavor, combination, or topping.Do less advertising.Place coupons online or in circulars.Sell shirts, hats, or other merchandise bearing the company’s logo.Provide as little nutritional information as possible.Offer a loyalty program that gives customers free frozen yogurt.
Which government regulations could you avoid if you no longer had employees? Check all that apply.Every business must maintain a business license.Businesses must pay taxes on employee salaries.Businesses must advertise truthfully.Businesses must pay employees a fair wage.Businesses must maintain workplace safety.
Which of the following did you include in your notes? Check all that apply.
The next step in your plan is to identify which government regulations will impact your business.In two to three sentences, describe what those regulations are and how you plan to meet them.
My business will be impacted by local zoning laws and health and safety regulations, which ensure that the workspace is safe for employees and customers. To meet these requirements, I will apply for the necessary local permits and conduct regular internal safety audits to remain compliant with all standards.
Write a paragraph about your business, how you plan to compete with the other local frozen-yogurt shop, and why your action plan will work.Use what you have learned in this lesson to support your plan.
My frozen-yogurt business will compete by keeping production costs low and maintaining high transparency for consumers. By remaining a small-scale operation with fewer employees, I can reduce the burden of labor regulations and overhead costs, allowing me to offer lower prices than the existing shop. Furthermore, I will comply with consumer protection regulations by clearly listing all natural ingredients, which builds trust with health-conscious customers. This combination of competitive pricing and product quality will attract a loyal customer base and ensure the business's success.
What did you include in your response? Check all that apply.
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