Case Study of the Week: The Needs for Starting a New Business

Feb 26, 2024


You are to assume the role of an entrepreneur excited about a new venture idea. A small business advisor has listened to your initial ideas and has requested additional information about your venture idea, The Tool School.

You are excited about opening a new business, The Tool School, which will provide education to the community on basic and advanced tool use. The Tool School will also service the community by providing tool rentals.

The community has several demographics that do not own tools, have never used tools and do not understand how to use tools correctly. Due to the lack of tools and knowledge, many people pay for simple repairs or purchase replacements instead of fixing. The Tool School would provide the community with classes on proper tool identification and use. The Tool School would provide classes on basic hardware and hand tools found in most toolboxes and advanced classes involving power tools.

You met with a small business advisor to explain the great idea. The small business advisor has requested additional information for the next meeting. The small business advisor wants you to identify:

  • Start-up requirements
  • Venture risks
  • Capital resources needed
  • Staff needed
  • Operational safety issues


Randi Bibiano
Competitive Events Specialist

Randi Bibiano is DECA's competitive events specialist. In this role, she conceptualizes and authors role-play scenarios for the collegiate and high school division’s competitive events programs. She also manages DECA's online competitive events and serves as a liaison to volunteer efforts at DECA's educational conferences.

Discussion Questions

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Classroom Connection

Career CLuster:


Instructional Area(s):


Performance Indicators:

Assess start-up requirements
Discuss entrepreneurial planning considerations
Assess risks associated with venture
Identify capital resources needed for the venture