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The Tech Lounge
Transcript of The Tech Lounge
- knowledge of technology
- knowledge in business
- money managing skills
the personal strengths we aquire include: Introduction Our motivation for this business was our skills and knowledge of computer technology and the idea for creating a great hangout for young adults that would provide us a healthy budget and give us great joy in what we do. We would advertise our business on the newspaper and leave flyers inside computer stores. We would serve coffee and return repaired computers. How are goods and services distributed? For whom are goods and services distributed? Our customers would most likely be young, urban adults from ages 21-30, mostly men with high incomes. How are goods and services produced?
All of our goods and services would be produced by hand because we trust our own actions more than the quality of products machines would do. What goods and services are produced? We would provide repaired computers, access to the internet and hot, fresh coffee. We would most likely open up our business in an urban area because we feel that an urban setting would provide us the most costumers. Who produces the goods and services? We can bring our knowledge of technology to hire people to repair computers and access to the internet, and also open up a coffee shop in the same store. The four economic resources: Land - We use land resources (the raw materials of industry and business) by buying our own property of land to start a business. We would also own a property of soil that we would use to grow our own coffee beans for making coffee. Labour - We use labour resources (the work that make our goods and services) by hiring people who have experience with making self-prepared coffee and people who are able to repair broken computers. Capital - We use capital resources (the investment money and capital goods that are used for producing other goods) by taking a loan from a bank, then owe them back after our business starts running. The Tech Lounge
Entrepreneurship - We use entrepeneurship by making a profit when combining our land, labour, and capital resources. The affect that our business will have on Toronto will be in a positive way. Everyone will be financially stable because our computer services are much cheaper than in other places, which will help with our cutomers' income, and keep our income stable as well.
As for our coffee business, growing the beans ourselves will cut down on our expenses. The low prices also cut down on the expenses of our buyers. Business Owners Employees Staff