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11. Toyz 2 Teach Tots Stuff will be selling toys, duh. Is there a special permit required to sell stuff? _ ______________________________________________________________________________ _ ______________________________________________________________________________ 12. Wow! Linda and Melinda’s store is a great success! Their business plan calls for “building value by entering into contracts licensing other businesses to operate as Toyz 2 Teach Tots Stuff.” What is a business plan and what kind of arrangement are they selling? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 13. Linda and Melinda want to find an organization they can join that will represent the interests of small business owners and fight for pro-business government policies. They are trying to join the Small Business Administration . Set them straight. _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 14. Linda and Melinda make $12,750 in revenue their first month in business. Their expenses were $8,200. What was their profit margin , and what is the formula for calculating it? Explain and provide an example. _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 15. Besides increasing sales revenue, how can Linda and Melinda improve their profit margin ? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ PRODUCT PREVIEW
Chapter 12 | Small Biz Whiz 232
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