CMR 242 Miami University China Construction Bank Chapter Summary

My business is Fast food restaurant

Part 1:

1. Critical Thinking Exercises: questions 7-2,7-3, and 7-5.

2. Pg 244 : Biz Builder Business Plan Questions / 7.1 Sources and Uses of Capital, A through C.

Respond to questions A, B and C. For this assignment you will be considering and recording the one-time expenses required for opening your business. You can use this SCORE Start-up Cost Calculator (Links to an external site.) – download the template at the top of the article or this Start-Up cost worksheet to estimate and record the costs and items necessary to start your business. You are REQUIRED to submit a start-up cost sheet using a template for this assignment as well as your Business Plan! You may have to change the categories listed on a template to make it specific to your business. (Reminder: USAIIRD can be helpful!) Provide 2-3 paragraphs explaining your numbers based on the a,b c questions!

3. Merchant Credit Cards

Research and submit a detailed summary of the topic of ‘merchant credit card accounts’ for your business. This is the credit card equipment/service that is required to allow your customers to use their credit cards to pay you. Be sure to include the costs, requirements and restrictions, etc.? Be sure to include your article or a link to the article for full credit.

Part 2:

1. Research and summarize an article on leasing versus buying for your small business. As a small business owner it is typically more beneficial to lease equipment/ vehicles rather than purchase. Why? What equipment would your business require? Be sure you’re article discusses this aspect, as well as the two different types of leases and the financial pros and cons of each type.

2. Visit or contact a local bank loan officer for information on their commercial or small business lines of credit. Make sure you get an explanation of the terms and what requirements are for a small business start-up to qualify for a line of credit. Write a report (minimum 1page) detailing your results. You are required to contact bank personnel to receive credit for this assignment. Do not copy information from a bank’s website.

Please write part 1 and part 2 separately, that is to say, two documents are required.