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Running a business

Running a business. You are setting up a small business to buy materials, make gadgets and sell them for profit. Running a business. You have £20,000 to invest in your business. Running a business. One machine to produce your gadgets cost £2500. Running a business.

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Running a business

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  1. Running a business You are setting up a small business to buy materials, make gadgets and sell them for profit.

  2. Running a business You have £20,000 to invest in your business.

  3. Running a business One machine to produce your gadgets cost £2500.

  4. Running a business The machines cost £500 each per week to maintain.

  5. Running a business Each machine can produce 100 gadgets per day but requires two workers to use it.

  6. Running a business Workers are paid £400 per week each.

  7. Running a business The materials you need to produce one gadget cost £12.

  8. Running a business The number of sales depends on the selling price. The table shows maximum weekly sales for different selling prices.

  9. Running a business Your aim is to make as much profit as possible at the end of 6 weeks.

  10. Running a business Hints and Tactics

  11. Running a business Use some of your profits to buy extra machines. Hints and Tactics

  12. Running a business Your total costs cannot be greater than the amount of money that you have at the start of any week. Hints and Tactics

  13. Running a business You can change how much you sell your gadget for each week if you want to. Hints and Tactics

  14. Running a business You can change how much you sell your gadgets for each week if you want to. Hints and Tactics

  15. Running a business Remember, once you have bought a machine you still have that machine in the next week so you must keep maintaining it. Hints and Tactics

  16. Running a business At the end of each week you need to fill out a Profit and Loss sheet

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