Ch8 Entrepreneurship Locate and Set up your Business

Neighborhood shopping centers are often called strip malls.

Warehouses are generally one of the most expensive rental facilities for a retail business.

Industrial parks are usually located away from housing developments and downtown areas.

The cost of maintaining an online business is much less than the cost of buying or leasing a building.

A scale drawing of your floor plan will help identify potential problems in your layout.

In a gross lease, the landlord pays property taxes and the tenant pays rent, insurance, and any other expenses.

You should always consult an attorney before signing a commercial lease agreement.

Inventory consists of the products that a business sells to its customers and the materials needed to make those products

You should always choose the vendor who provides the lowest price.

Retail, service, and manufacturing businesses must purchase inventory before they can open for business.