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This month July was named entrepreneur of the month by Business Partners, an organisation that invests in entrepreneurs. This organisation helped her to get financing when the banks would not help her.

July, who started working as a “kitchen assistant” at a Juicy Lucy outlet 27 years ago, got the opportunity to buy the Kenilworth shop from her previous employers in 2001. She had been working there for 10 years and even managed the shop.

She says Colleen and Jeremy Chennells, who wanted her to buy the shop, were sent to her by God. “When they came into my life the lights turned green for me,” she says. By that time she already had shares in the business. However, her greatest problem was to get financing to buy the business.

She believes that she is a shining example of what people from previously disadvantaged communities can achieve if they want to. When she passed matric so many years ago, she could get no other work. She says people must realise that it depends solely on yourself what you achieve in life.

She started working for the first franchise holder of a Juicy Lucy shop in Cape Town as a 22-year-old mother. Within a few years she had progressed from scrubbing floors and washing dishes to assistant manager and finally she was promoted to manager.

It was also her job to open new Juicy Lucy shops and to manage them for a month until their business was in order. One of her major achievements was when, as manager, she won R5 000 in 1985 for the shop that showed the greatest growth, as well as for the cleanest shop with the best service.

Some of her clients are regular visitors who are on first name terms with her. She manages her shop herself and still wears the plum-coloured, checked Juicy Lucy manager’s uniform. She wears a tag with “Jessica July: Manager” on it. July is convinced that her success can be ascribed to the fact that she is personally involved in the day-to-day running of the shop as manager. “I am part of the staff,” she says. This is also one of the hints she gives to shopkeepers – “Don’t sit at home. Rather manage the place yourself.”

According to her the shop has shown a 22% growth in turnover during the past two years. She employs six permanent workers and two casual workers.

Now July is interested in two more shops. She has been with Juicy Lucy for almost as long as this chain of shops, which was introduced as a healthier alternative to fast food restaurants, has been in existence.

She says she would never have thought that she would own a Juicy Lucy.

(Source: Die Burger, 3 July 2003 - translated)

QUESTIONS:

1. Name the advantages that a CC offers an entrepreneur.

2. Explain why it might be advantageous to take out a franchise if one wants to start a business. Mention one possible disadvantage.

Assessment

Learning Outcomes
(LOs)
LO 4
Entrepreneurial Knowledge and Skills The learner will be capable of demonstrating entrepreneurial knowledge, skills and attitudes.
Assessment Standards(ASs)
We know this when the learner:
4.1 identifies financial institutions and organisations promoting entrepreneurship;
4.2 discusses different ideas for starting a business (including ideas to attract tourists, franchising);
4.3 differentiates between the forms of ownership in both the informal and the formal sectors (sole ownership, close corporation);
4.4 evaluates the financial viability of a business (e.g. initial costs, production costs, sales and profit); and
4.5 engages in a business activity that involves purchasing, production and marketing (should involve financing of business with own or borrowed capital – e.g. bank overdraft).

Memorandum

ACTIVITY 1

Spend sufficient time on this activity. Encourage the learners to work thoroughly right from the very first exercise. They must really go out and get information about the business that they have chosen, and they shouldn’t simply think it all up on their own.

In the section on creative thought the learners must be given enough time to consider examples thoroughly.

Their description of their own business idea must be checked carefully and these ideas must be discussed with them so that they can serve as basis for the work in Activity 3.

ACTIVITY 2

This activity is the core of the module, but can only be done successfully if Activity 2 was done properly.

Testing the viability of the business idea allows the learner to deal with important concepts in the field of financial business management and you must make sure that they fully understand the concepts. The difference between product costs and operational costs and the meaning of gross profit must be fully understood. If the product cost is too high in relation to the selling price, the gross profit will be too low for

the entrepreneur to be able to afford essential operational necessities such as salaries and marketing.

The examples in the module can be used to check whether the learners’ calculations are correct.

Questions & Answers

Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
Renato
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
?
Kyle
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
Adin
why?
Adin
what school?
Kyle
biomolecules are e building blocks of every organics and inorganic materials.
Joe
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
research.net
kanaga
sciencedirect big data base
Ernesto
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Bharti
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
Daniel
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
Maciej
characteristics of micro business
Abigail
for teaching engĺish at school how nano technology help us
Anassong
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
NANO
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
s.
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
Tarell
what is the actual application of fullerenes nowadays?
Damian
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
Tarell
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
Virgil
is Bucky paper clear?
CYNTHIA
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
NANO
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Harper
Do you know which machine is used to that process?
s.
how to fabricate graphene ink ?
SUYASH Reply
for screen printed electrodes ?
SUYASH
What is lattice structure?
s. Reply
of graphene you mean?
Ebrahim
or in general
Ebrahim
in general
s.
Graphene has a hexagonal structure
tahir
On having this app for quite a bit time, Haven't realised there's a chat room in it.
Cied
what is biological synthesis of nanoparticles
Sanket Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic and management sciences grade 8. OpenStax CNX. Sep 11, 2009 Download for free at http://cnx.org/content/col11040/1.1
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