By Dennis Kondo
Written in easy-to-understand language, Business fundamentals in Hawaii introduces the lay individual to a couple of the fundamental rules of industrial.
Readers reap the benefits of classes realized via different company humans via an exam of 2 hypothetical businesses. the various issues lined comprise estimating industry capability and per thirty days working bills, making plans an ads crusade with neighborhood media, negotiating a rent, and reviewing a few Hawaii enterprise tax laws.
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Extra info for Business basics in Hawaii: secrets of starting your own small business in our state
It was small consolation that along the way he acquired a business attitude. Your Journey Begins Fran Tarkenton, a star professional football player was asked in an interview what it takes to succeed in the National Football League. His reply echoes the reply given by many people who have been in business when asked what it takes to succeed: It is not the most talented who succeed, but the most persistent. Statistics indicate that going into business is not easy and not everyone is suited for it.
Step 2. Estimate the geographic market limits. The island of Oahu. But because the military buyers may be scattered over the entire island, this store will concentrate on the navy market based at Pearl Harbor. Step 3. Estimate the market universe. State data show that there are 58,000 active duty military in Hawaii. Of this total the navy has 23,000 active duty personnel. Step 4. Estimate the buying market. After interviewing some typical customers, the businessowner, using his best judgment, assumes that 15 percent of the potential market will be a buying market: Step 5.
The Windward TV Shop will be located in a commercial building, and, besides the owner, will require one full-time sales person, a part-time clerk, and a part-time technician. They plan to sell new televisions and video equipment and provide service for the Kailua and Kaneohe area. Based on the estimate in Exhibit 6, Windward TV will need at least $27,631 to open its doors. The major start-up expenses are: 1. Rental and deposit. Before moving into new office or store space, you will incur up-front costs equal to two-months rental (the first month and the deposit).