Select a small business that you visit often (e.g., coffee shop, bookstore, sporting goods store, etc.). Write a 6-8 page paper in which you:
- Craft a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail.
- Determine if it would make more sense to open the new business you describe or to purchase the existing business you selected. Explain your reasoning.
- Discuss the most appropriate form of ownership for your new business (assuming your current financial situation).
- Outline a business plan for your business. Visit http://www.sba.gov for tools and templates.
- Include at least two (2) references outside the textbook.
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