Question

To get the Frank's hot dog cart off the ground, we need to come up with a list of assets he will need.

In your initial post, name and describe a single item. Why does Frank need this item to run his hot dog stand business? (Note: Please name only one item. You will have the opportunity to suggest additional items in your response posts.)

After completing your initial post, respond to at least two other classmates. In each response, name at least one other item needed that is similar to the one your classmate suggested. Why should Frank consider investing in this item as well?

Answer 1

For planning a business one must have vision which defines what person wants to achieve,mission how to achieve that goals.Then one must think about capital investment and target customers.What price ti be charged so to have a profitable business.How will he get the license to operate the business and what are the back up plans in case of losses.

Frank wants to start a hot dog cart the most important asset is customer's faith by giving them good quality of hot dog.Bank account is also one of the asset in which the customer will make the payments and stock how much inventory does the frank should keep always ,keep arrangement for storage area in which he will place the inventory (the things required for making hot dog)

Classmates are suggested that frank should make arrangements for the tools require for making the hotdogs. Also establish his web page which helps him in marketing his product.

When only if he will make above arrangements then he should think of start up of the business,cost is one of the major factor that keeps him to attract customers more.Have the good name of his business and get his business insured to safeguard his business from any mishappenings and keep his business as profitable business.