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Summary For Babysitting

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Our business is a babysitting, or childcare, which is ran by Sophia Warren and Michael Matthews. This business is intended to be a side job for extra money in college, not a full time job. Sophia will work as the secretary, responsible for scheduling babysitting appointments, contacting customers, and recording customer emergency contact information. Matthew will be the treasurer, managing all the profits, paying the loan payment, and in addition be responsible for all advertising. The profits and losses will be split evenly at 50% each.
The service is targeted towards parents who need child care. We will need a $200 loan from the bank to pay for child-care classes to be certified and more trustworthy, which costs about 50 dollars each. In addition we will use the remaining 100 dollars to buy entertainment to bring for the kids. This is a four dollar monthly payment on the loan. For our services, we will charge 7.50 dollars per hour to watch the kids. Also, will not be hiring any employees because we are keeping the business small, dividing the jobs evenly between us. We will be able to work out of our homes, because we will go to the customer's house to babysit their child or children, so their will be no rent.
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The marketplace, in our society, is a great place to make big profits, but if you fail, can also leave you broke. We learned about the risk of taking out large loans, which is why our business took out a small loan, instead of taking a larger loan to more widely expand our business. Because our business was providing a service we learned that the services must be either in high demand, or priced higher to earn enough money to be a viable business. We now have a new appreciation for capitalism and the entrepreneurs in our society who help grow the economy, understanding that starting a business takes lots of time and tolerance for
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