RSM100Y1 Lecture Notes - Lecture 7: Convenience Store, Small Business, Financial Institution

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Advantage of opening small business: being boss, make a decision, won philosophy. Nhl is over (cid:271)usi(cid:374)ess perspe(cid:272)tive; there is a sig(cid:374)ifi(cid:272)a(cid:374)t i(cid:373)pa(cid:272)t i(cid:374) hotel, restaurant industries. If you want to establish new company, need a financial capital personal investment, loan to financial institution. Small business it depends on what kind of industry you are in(compare car and bookstore industry) Elephant companies- large, powerful, do(cid:374)"t change the direction (shell, hvc, bmo) Mice companies 95% of business are mice (automobile shop, private convenience store) Step: great idea, opportunity formation- what product do you really want to sell, business planning. Operational aspect- how you deliver the product, how much revenue are you trying to achieve. Financial aspect- equity financing- you do(cid:374)"t have to pay them back, you pay dividend if you can. Debt financing more freedom, you have to pay back, pay interest. Prediction of what would happen when one of the assumption changes. New style with certain brand get a financial aspect.

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