You Are An Entrepreneur Essay

1664 words - 7 pages

Assignment 2: You Are an Entrepreneur

Nikholas Martin

Dr. Bell

ACC 557: Financial Accounting

Tuesday, February 12, 2013

Table of Contents

EXECUTIVE SUMMARY 3

geral business Description

Mission Statement

operational highlights 5

STARTUP EXPENCES

REVENUE GROWTH

PROJECTED PROFITS

FORECASTING 6

Sales Forecast
Cash Flow Projections
Income Statement
Balance Sheet

BUSINESS CONTROLS 11

Accounting System
INTERNAL CONTROL
COMPLIANCE TO REGULATORY BODIES
REFERENCE…………………………………………………………………………………….12

Executive summary

Wellfit, Inc will provide ...view middle of the document...

Wellfit Inc mission is to create awareness and the need for healthy lifestyle in the society. Our vision is the provision of quality fitness programs that are in line with health care. The strength and main competencies of the business venture include low cost and affordable services compared to competitors, certified and experienced trainers, and management dedication and commitment towards provision of health care.

Challenges that Wellfit might face include difficulties in establishing its brand image and client attraction due to the already established competitors in the market such as fitness gyms, Adventure camps and specialized personal training. However, since the business venture targets a different market segment of low income earners, and provision of cheap services compared to its competitors, it is expected that the business will break even within its first year of business commencement. The business too intends to engage vigorous advertisements and self marketing so as to boost it image brand in the market.

Services and rationality of the services

Wellfit, Inc intends to offer the following services Cycling, Aerobics, Boxing, Pilates, Yoga, Muscle Training, Obesity and Diabetes control. The members of the society will benefit from the services offered since the venture intends to make use of state-of-the art equipments and facilities form accredited manufactures, low cost and affordable membership targeting low income earners and the use of highly qualified personnel who ensure that clients attain the required results within no time.

Fitness clubs and health clubs in Florida mainly serve high income earners. The average income for most fitness club members in Florida is approximately $80,000 as per 2011 survey. This leaves a big segment of medium and low income clients with unsatisfied needs. Wellfit, Inc will mainly aim at provision of fitness and health care facilities to the medium and low income classes without compromising on service quality.

FORECASTING

Sales forecast

Our sales ratio projections might be low for the first few months upon commencement of business operation, but for the purpose of this sales forecast assumptions are made that the business will receive at least three client enquiries within the first few months of business commencement. It is expected that there will be a steady increase of clients generated by vigorous promotional activities planned to kick off immediately the business commence.

Sales Forecast Projection
| | | | | | |
| |Y1 |Y2 |Y3 | |Total |
| | | | | | |
|Aerobics |$2,000 ...

Other Essays Like You Are an Entrepreneur

Prepare an Investigative Paper That Applies Group Related Communication Theory to a Workgroup in Which You Are Currently Involved. If Possible, Choose a Group That May Be Experiencing Communication...

735 words - 3 pages U03a1 Worksheet Name: 1. When an employee wants to resign or transfer, you can try to persuade them to change their mind but you can’t refuse to accept their resignation or transfer. He should act carefully though if the employee has handed in their notice in controversial circumstances, eg after an argument. Henry the first thing you need to do is find out why. If the transfer is unexpected, find out why they want to

1. You Are the Sales Manager of an Electrical Goods Distributor. One Day You Receive a Telephone Call from a Very Good Long Term Customer Regarding the Changed Behavior of One of Your Senior Sales...

538 words - 3 pages In this kind of circumstance, as a sales manager I will apologize to the customer who complaint about the senior Sale Representative of mine in the phone. Moving on, I will try and make an appointment with the customer and meet the customer in personally in order to further understand and investigate the entire situation by listening carefully from the customer. I will analysis the complains from the customer and try to interpret the

Entreprenuship

1119 words - 5 pages is the enthusiasm, ambition, joy and zeal that emerge when entrepreneur are doing something that they feel is important and truly enjoy. This passion, it is an attitude that results in tenacity in the face of difficulty and a willingness to work hard. Entrepreneur does not give up easily. In fact, on most days they are confident of their ability to meet the challenges confronting them. Passion is one of the reasons that people start a business

Self Assessment Entrepreneurship

1013 words - 5 pages Self-assessment Is entrepreneurship for me? It can be, since almost anyone can become an entrepreneur. Based on the self-evaluation quizzes, I think I would probably ace at being an entrepreneur. According to the Myers-Briggs personality test that I have done there are weaknesses and strengths in me which I have discovered. This test is the best way to understand your personality or psychological type as people differs from each other

Entrepreneur

670 words - 3 pages Torris Miller BUS 604 Personal Assessment Instructor: Dr. Kunsoo Choi February 24, 2013 Becoming an entrepreneur is definitely a goal of mine. I would like to develop a business in the future that will allow me to become successful and earn a lucrative income. Entrepreneurs enjoy an increased level of flexibility and independence and can choose tasks that are both rewarding and profitable. It is critical

Drawing on Material from the Lecture Notes and Independent Research, Construct a Detailed Profile of an Individual, Named Entrepreneur

3251 words - 14 pages characteristics such as ‘need for achievement, intelligence, creativity, energy level, and desire for money’ (Aboud, 1971) are common throughout entrepreneurs. Gartner, accepting these claims, goes onto suggest that if you base the definition of an entrepreneur on characteristics then ‘an entrepreneur is a personality type’ and therefore ‘a state of being that doesn’t go away’ (Gartner, 1988). A more specific definition, by Hornaday and Aboud (1971

Entrepreneurship

757 words - 4 pages is not something that’s easily defined. However, it is clear that entrepreneurship is a function of many things. It is a function of economic growth, personal persistence, and a desire to succeed. Entrepreneurs are people that impact society and help move our culture forward. An entrepreneur thinks anything is possible. They do not see failure at the end of any road, do not know any obstacle that cannot be conquered, and will use everything

Evaluate the Impact That Entrepreneurial Networks Will Have on the Novice Nascent Entrepreneur Setting Up Business for the First Time

2464 words - 10 pages which entrepreneurial networking has on the nascent entrepreneur: "Individuals who are in the process of starting up new ventures" (Renko, 2012, p1045). In the following report, an investigation as to what classification of impact that entrepreneurial networking has on the entrepreneur will be assessed. Based on academic research, a definitive conclusion will be made and a judgement of the usefulness and level of impact these networks have

Entrepreneurship Notes

2352 words - 10 pages WHAT IS ENTREPRENEURSHIP? Entrepreneurship is the process of creating something new of value by devoting (giving) the necessary time and effort. By accepting and acknowledging the necessary financial, psychological, and social risks, and finally receiving the resulting rewards be it monetary and personal satisfaction and freedom to do what you want. Process of creating something new and assuming the risks and rewards. WHO IS AN ENTREPRENEUR

Bidddy Mason

1105 words - 5 pages and the land and I acquire many skills like nursing,I`m a mid-wife, I just pretty much do things that are expected on the plantation. 3. When you found out that California had become a free state, how did you feel? Hopeful. I found this to be an opportunity to make a change for not only myself but for my children as well. When I sued Mr. Smith for my freedom and won the case, I knew from that moment on that I had to do something that would

Bus 557 Financial Accounting Assgn #2

898 words - 4 pages “You Are an Entrepreneur” Running Head: You Are an Entrepreneur Cathy D. Brown Professor: Kenneth Lavery Course: BUS 557 Financial Accounting

Related Papers

You Are An Entrepreneur Essay

1588 words - 7 pages You Are an Entrepreneur Abstract In this paper I am going to speak and focus on a business called My Health. My Health is a home healthcare agency ran by my business partners and I. Stephanie Robinson, who is a Registered Practitioner, Ashley Manns, who is a Medical Assistant and I, Ashlee Burns. I am a Registered Nurse with my Master’s Degree in Business Administration with a concentration in Healthcare Management. My Health will have

Strayer Acc 557 You Are An Entrepreneur

1982 words - 8 pages You Are an Entrepreneur The Top Shelf Business Plan The Top Shelf Sports Bar & Grill is a proposed restaurant (grill) and bar that will be located near the Oakbrook Terrace Shopping Center in Charlotte, North Carolina. The Top Shelf Sports Bar & Grill will serve the residential community of Charlotte along with the many visitors that frequent the area for shopping and dining. The menu will consist of a variety of American food, top

Are You An Introvert? Essay

551 words - 3 pages your toys. You talk to yourself and tried not to be bothered from not seeing your parents. This is your introvert tendencies. Nobody taught you these things. This is just how you react by being left behind. Your reaction to things and events surrounding you makes you who you are. If you are an introvert, you react to stress by being quiet. You react to hurt by being alone. You dislike social functions not out from rudeness but because you

Are You An Investment Analyst? Essay

1849 words - 8 pages Running Head: ARE YOU AN INVESTMENT ANALYST? Strayer University PepsiCo and Coca Cola ACC 557/Financial Accounting LaKeeshea Gardner March 02, 2014 Introduction Many organizations in the world have to share in the market. These organizations need to have a competitive advantage in the market. The discussions in this paper will include two organizations, about their descriptions, stock prices