Business Feasibility and Planning Foundations

This unit introduces students to the early-stage processes of starting a business, including idea validation, market and industry analysis, legal and location considerations, basic accounting, and the core elements of a business plan. Students will learn to assess feasibility, choose an appropriate business model (including franchises and home-based options), and assemble the initial planning and financial information needed to move toward launch and growth.

Learning Objectives

• Analyze business ideas for feasibility by conducting target market research, assessing industry attractiveness, and measuring market growth indicators
• Evaluate legal classifications, location options (including franchises and home-based businesses), and socially responsible practices to determine an appropriate business model
• Apply basic accounting principles to prepare and interpret an income statement, the accounting equation components, and a statement of cash flows for a small enterprise
• Develop the core components of an initial business plan and pitch, including branding strategy, objectives, staffing needs, start-up resource options, and an executive summary