What You'll Create
A letter (between 1/2 to 1 typed page) that outlines your business idea. It will include a description of the product(s)/service(s) your company offers. It will also outline other key pieces of information such as hours of operation, location and more.
Use Microsoft Word to create your letter.
Why
To be successful a business owner should be able to answer these questions. It is usually at this early stage that potential problems can be identified and eliminated. This letter will help you determine if your business has the potential to succeed. This letter could also be used to request funding from a bank or other source.
Features to include
- Create a name, address, phone number (and possibly E-mail) for your business. Include it in your letter.
Always use the same contact information throughout the project. - Tell potential investors (and your teacher) what your business is about.
- Include all key details... location, highlights of products/services, hours of operation, etc.
- Explain what is special about your business (What will make it a success?)
- As you complete other activities (especially the brochure and budget), you may need to alter your letter to include information you decide upon later. Most of your final information regarding finances is determined in the Budget.
Questions to Consider
You should include the answers to these qustions in your letter. They don't need to be answered in order. You should also include other information if it is important.
- What is the name of your business?
- Where will it be located?
- What products/services will you offer?
- What will make your business successful?
- What will set your business apart from the competition?
See an Example
The Letter example is coming soon.
Saving Your Work
First, create a folder which includes your period, name and project description (e.g. 2-AnnieStudent-Business). Inside the folder save your letter as "1-Letter.doc"
