Entrepreneurship . Chapter 3 Creating Business from Opportunity. The Business Definition. The offer— what will the business offer the customers? Target market— who will it serve? Production and delivery capability— how will it provide the products & services it sells?. Types of Business.
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Creating Business from Opportunity
Example: My restaurant will support local organic farmers.
Average sale per customer
– Average cost of sale per customer
Average gross profit per customer
COGS = cost of labor and materials required to make one additional unit
COSS (cost of services sold) = cost of labor and materials required to provide one additional unit of service
Selling price per unit – COGS per unit = Gross profit per unit
Result: The entrepreneur creates jobs and wealth.