The next step in starting a business is to identify what products or services will be offered. This stage has already been decided upon as the business will be setup up as a peanut butter sandwich shop. The students need to conduct a survey about market conditions, buying and eating habits of students, employees and visitors to the university.
When consumer patterns have been identified the next phase of planning should focus on capital requirements. The capital requirements can be estimated by evaluating initial asset requirements of the company which include initial inventory requirement, equipment requirement for production and sales, requirements for machinery, free cash requirement and other assets required such as refrigerators.
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