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How many sales would I get in a week? Would people like my products? How will I know? This is for small-business owners.

Hello! I'm Ms. Tingle at the International Community School. My 5th graders have a few questions and I'd like to share your advice with them. Thanks so much!

#small-business #sales

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Chris’s Answer

Hello Ms. Tingle and Students at International Community School. These are great question to ask about small business. Small business is every important to our economy. According to JP Morgan Chase Co, did you know that there are over 30 million small businesses in the United States? Small business employs 59.9 million people in the U.S. You can see how important small business is to the united states.

Your first question of “How many sales would I get in a week?” is a good question. The answer is really hard because it depends on what you are selling. If you are selling Muffins, you could sell 50 every week. If you are selling shoes, you could also sell 50 pairs a week. The fun part is to find out what you want to sell and then make a business plan to help you sell your product.

Your second question is “Would people like my products?” another good question and this one has a good way to find out. Sales will help answer this this question. If you sell a lot of your product it is most likely because people liked it. A good marketing plan will help you reach more customers so they can like your product as well.

And your last question of “How will I know” You will ask them. Once they buy your product you can email them a survey asking them what they liked about your product. You could ask them if they would recommend your product to a friend. These are good questions to help you understand what your customers like about your product.

Good luck Ms. Tingle and students exploring small business. I hope you find it as interesting as I do. Take care.
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Eletha’s Answer

Hello, a small business owner can find the answers to all questions from their customers.

Question: How many sales would I get in a week?
Answer: 1st step is make a business plan. Income-Expenses=Profit
Your sales will be determined by how many people want to buy your product at a certain price. You have to calculate how much did it cost to make your product and at what price to sell it; in order to make a profit. Then when you set a goal of how much you want to make as profit you will know how many sales a week you need to keep making money.

Question: Would people like my products?
Answer: Your product should be something that people (consumers like you) would buy or need which is called "demand". Start small and work your way up

Question: How will I know? Ask your family or friends to try your product 1st. Get their feedback and don't be scared to try.
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Simeon’s Answer

To start a small business, you'll need to have a good taste what the preferences of your market are. I would spend time observing what unmet needs there are in your market. What types of businesses are underrepresented in your community? You need to remember that the business serves to meet their needs as well. Keep an eye out for what types of marketing seem to be the best to reach your target audience as well. You'll need an understanding of all of the above to put together a decent business plan. I'd also recommend drawing up the potential expenses for the business you have in mind and seeing what kind of prices you'd have to charge to cover your expenses while still earning an income.
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Dinesh’s Answer

How many sales would I get in a week? Would people like my products? How will I know? This is for small-business owners.

In addition to the above responses, here are a few guidelines

1. The number of sales depends on various factors,
It is important you do some kind of research on what you want to sell and what is the potential for that product or service you want to sell. The above points are all great, one important aspect is marketing your product; in simple terms if you have a good product make noise about it. Let people know.... :) the more awareness the greater the sale.
2. People liking your product is the key to success. Customer experiences are guided by various factors.
First try it yourself - are you satisfied? will you want more? will you come back for more?
Next is to provide samples - could be friends, family, general public - you need to obtain an unbiased input / feedback so that you can better your product.
3. How will I know
Customer feedback is the way you can know. Could be social forums, surveys, questionnaires etc.

Good luck selling!

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Bob’s Answer

Ms.Tingle,

Board questions. Perhaps a fun exercise with the students- Sound silly but something similar to the lemonade, cookie, coffee or something the students pick stand.

Lesson they can learn:
Capital Expense- building a stand, equipment needed etc.
Operating cost- lemonade, cups, staffing,.

The above are key to knowing what sales are needed to maintain a business.

I know a couple of some business owners. I can ask if they're willing to join a video class room or call.

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