Unit 1 Business Management AOS2 Outcome 1 Small Business Stall
This Outcome is made up of various parts that will need to be completed by the due
dates set by your teacher. Your task is to come up with a business venture concept
that can be run at school over 2 lunchtimes with the aim of making a profit. (Any
profits will be pooled and the class will agree on a worthwhile charity)
You may work individually or in small groups of no more than 3 – at your teacher’s
discretion.
1) Personal Qualities
Assess your personal qualities to assess your suitability for running a small business.
ACTIVITY
a. In pairs agree on 10 skills a small business owner or manager should
possess in order to be successful. Include a statement as to why each is
important. Rank these in order of importance as agreed with ranking ‘1’
being essential.
b. Individually list 5 skills or knowledge areas that you personally already
possess.
c. Note any top 5 areas you don’t have and suggest how you might make up
for this lack of skill or knowledge.
d. As a class, agree on the key personality characteristics required to run a
successful small business.
2) Business Concept
Determine a viable business venture that you could run at school over 2 lunchtimes.
ACTIVITY
a. Look back at past student business ventures and discuss their merits.
b. Brainstorm appropriate ideas.
c. Narrow down your ideas to the top 3 choices that are practical to achieve.
d. Conduct a SWOT Analysis of each choice in order to analyse the merits of
each.
e. Choose and COMMIT to 1 – you will have no chance to change your mind
once your business name is registered so choose carefully.
3) Market Research (SUBMISSION 1)
Design and conduct a research survey to evaluate whether your business will make a
profit. After researching you may need to refine your idea or abandon it all together
and go with one of your other top 3 ideas.
a. Discuss and note what you need to find out.
b. Design a short survey (no more than 5 closed questions and 1 open
question) to gather this information.
c. Type up a template and have it approved by your teacher.
d. Indicate whom you will survey (the demographics and number proposed)
and have this approved.
e. Conduct your survey (be careful not to ask too many people others have).
f. Analyse the responses.
g. Write and submit a 1 page Market Conditions Report on:
Unit 1 Business Management AOS2 Outcome 1 Small Business Stall
1.
2.
3.
4.
5.
how you conducted your market research,
who will buy your product and why they will buy it
the size of your market
possible competitor information and your competitive advantage
what you have learned and the implications for your business idea.
ARTICLE & STUDENT ACTIVITIES:
‘The Impact of Changing Demographics’, Ian Biddle 2011, Busidate
ARTICLE – GLOSSARY & REVIEW QUESTIONS
The Business Planning Process: Vision, Goals and Objectives
Michael Doherty, Business Studies Review 2011, Tim Riley Publications Pty Ltd
4) Business Registration (SUBMISSION 2)
You need to register your business name and core business activity. To do this you
need to search online to see if your name is available – if not you will need to change
your plan.
The Australia Government runs the business names register with a new national
system coming into effect in 2012.
READ:
http://www.business.gov.au/BusinessTopics/Registrationandlicences/Registeryourbus
inessorcompany/Pages/Registeryourbusinessname.aspx
a. Search under ‘all names’ to see if your name is taken:
b. http://www.search.asic.gov.au/gns001.html
c. Print screen to provide evidence that you may register your business
name.
d. Write and submit a letter using correct business letter format to request
your name be registered and include the evidence.
For an online example go to http://businessletterformat.org/
e. When you receive your ‘ABN’ and Registration Certificate you must
include your number on all documentation and display the certificate at
your SBS.
5) Intellectual Property
“IP stands for "intellectual property". It results from the application of
someone's mind or intellect to create something new or original. IP can
exist in various forms; it can be an invention, a brand name, a book, film,
trade secret or artistic design.” (http://www.ipaustralia.gov.au/)
Your idea may have be an original innovation that needs protection. Your idea may be
suitable to repeat in many different places by starting a franchise.
Check out other Aussie Inventions at:
Unit 1 Business Management AOS2 Outcome 1 Small Business Stall
http://www.ipaustralia.gov.au/understanding-intellectual-property/ip-for-educationand-training/history_of_aussie_innovations/
1. Briefly describe 5 Aussie Inventions that you did not know about before
navigating this page.
2. Explain how your product is an innovation of an existing product or how
your business has an original component. You cannot just copy another
business idea. As such it is not OK to buy in bulk and then simply split
goods for sale.
CASE STUDY
Read about franchising and IP at:
http://www.ipaustralia.gov.au/understanding-intellectual-property/ip-forbusiness/franchising-and-ip/
1. Define the term ‘franchise’. Give 3 examples.
2. Explain how franchisees benefit from a registered trademark.
3. Outline the work of the ACCC.
4. Suggest where a franchisee can find support with their business.
5. Read and summarise the case study on the Coffee Club Franchise.
Registration Letter Format:
Teacher Name
Business Name Registrar
School Name
School Address
Student Name
Date
Re: Registering of business name and ABN
Dear student name,
Thankyou for your letter of date requesting the registration of the business name
‘business name’ for trading in trading activity on trading date and trading date.
I note you request an ABN and so allocate your business the number number.
Please ensure you note your business number on all business documentation and that
you display your registration certificate somewhere visible on your small business
stall on both trading days.
Unit 1 Business Management AOS2 Outcome 1 Small Business Stall
Thankyou.
Yours faithfully,
Teacher name
Attach Registration Certificate