Title: (Optional) Describe business costs.
Course: Entrepreneurship Infusion Unit > Section: Planning an Entrepreneurial Venture

Description should include

- the differences between fixed costs (e.g., rent) and variable costs (e.g., utilities, inventory)
- the differences between one-time start-up costs (e.g., build-out, grand opening) and operational costs (e.g., utilities, rent, labor).

Process/Skill Questions:

- What are the most important costs when starting a business? Why?
- What factors determine start-up costs for a new business?
- What is the difference between start-up costs and operating costs?
- How do start-up costs affect potential sales?
- What are typical sources of start-up capital?
- How much time should be allocated to ordering, receiving, and organizing for start-up?
- Why is the entrepreneur the driving force of the start-up process?
- Is venture capital a good source of start-up capital? Why, or why not?
- How are one-time costs different from continuing costs?
- Why is a start-up worksheet helpful to a new entrepreneur?