Fasten your seatbelts, the ride has already begun...

To have a successful business, a lot of serious planning needs to be done. But before we get really technical we have to get our ideas straight and picture some real numbers. To be able to visualize what we have up in front of us, we've been asked to write a Main Concept and a Rough Budget to our summatives.

The main concept should go over:
- Briefly what the purpose of the business is
- Costs included
- Obstacles or problems you'll have to face
- Why the business is viable

The budget should help give us an idea of what kind of numbers we'll be dealing with, and if all that work is really worth it. In other words, is the business really going to be better than just working at a local fast food restaurant?

Terminology for Budgets:
- Gross: Total amount of money the business is bringing in.
- Net: The amount of money left after deducting expenses.
- Capital expenses: Expenses that you'll be able to benefit from in the long term.
- Consumable expenses: Things you'll need to be buying constantly, or things that won't last longer than their sole purpose.
(For example, a camera is a capital expense as it will be useful to you even after the business is done with, however the film in the camera is a consumable expense as it will be gone after it runs out.)

That's all for now

--Amna