Foundations of Business Feasibility

This unit introduces students to the core elements of evaluating and launching a small business, including idea validation, business models (independent, home-based, and franchise), target market analysis, and the basics of legal structure and startup finance. Students will practice early-stage planning tasks—location selection, basic financial statement preparation, branding and marketing objectives, and socially responsible considerations—to prepare viable concepts for deeper development in subsequent units.

Learning Objectives

• Analyze the feasibility of entrepreneurial ideas by conducting target market and customer analyses, including estimating market size and calculating market growth rates
• Evaluate and compare business model and legal structure options (e.g., sole proprietorship, partnership, corporation, franchise, home-based) and recommend the most appropriate choice based on tax, liability, operational, and franchising considerations
• Apply basic accounting principles to prepare and interpret simple financial documents (income statement, statement of cash flows) and use the accounting equation to identify startup funding needs
• Develop initial business plan components—mission and measurable objectives, location analysis, branding and marketing strategies, staffing roles, and preliminary funding options—incorporating ethical and socially responsible practices