1. Much better formatting. Doesn't that make it easier to review? Doesn't that make it easier to explain to others how your business works? 2. By "initial product components" do you mean "start up inventory"? 3. Rent should be spread out monthly over the course of the year. 4. I would suggest that full time manager IS the owner for year 1 of this business. 5. It is accounting convention to use parentheses and not minus signs to indicate negative numbers. Use the numbers formatting function in the spreadsheet program to re-format.
Please revise and re-submit for next week. Remember, this is the final set of commments before this assignment receives a final grade.
Very good looking spreadsheet. I think you notice that even without any real marketing expenses and no legal or insurance costs budgeted, this business still does not break even in the first year of business. Actually, most supermarkets run about 2% profit margin and typically take five years until break even is reached so that's not really surprising, would be interesting to see how Whole Foods compares. Grade: A-
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Formatting and other comments:
ReplyDeleteNo cents except for per item amounts, if any.
$ signs only in first line and last line of each section.
the bottom line for each section should be a subtotal for that section e.g. "Marketing Sub-total".
You're only selling produce?
Revise and re-submit.
1. Much better formatting. Doesn't that make it easier to review? Doesn't that make it easier to explain to others how your business works?
ReplyDelete2. By "initial product components" do you mean "start up inventory"?
3. Rent should be spread out monthly over the course of the year.
4. I would suggest that full time manager IS the owner for year 1 of this business.
5. It is accounting convention to use parentheses and not minus signs to indicate negative numbers. Use the numbers formatting function in the spreadsheet program to re-format.
Please revise and re-submit for next week. Remember, this is the final set of commments before this assignment receives a final grade.
Very good looking spreadsheet. I think you notice that even without any real marketing expenses and no legal or insurance costs budgeted, this business still does not break even in the first year of business. Actually, most supermarkets run about 2% profit margin and typically take five years until break even is reached so that's not really surprising, would be interesting to see how Whole Foods compares.
ReplyDeleteGrade: A-