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Background to the Business

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Introduction

Background to the Business When we were first set this project to complete I thought and researched into the many business I could have selected to open in my neighbouring area. There were many options I could have chosen for my project, after long consideration I managed to narrow down my final ideas into four businesses in which I could have chosen and were most suitable for my project. My ideas which I thought of were a restaurant which would sell alcoholic beverages, non alcoholic beverages and meals, a clothing store for young adults, a beauty store which would sell cosmetics and other products similar, and finally a stationary store which would sell school equipment, and many other stationary goods. I thought about each option carefully and went through the advantages and disadvantages to each proposal I had to decide from. To begin with I went through the advantages and disadvantages of opening a restaurant in my neighbouring area, if I were to open a restaurant there would be a great deal of competition in the location of Brighouse as there are several restaurants in Brighouse, one of my competitors if I were to open up a restaurant in Brighouse would be La Romantica, this restaurant is a successful Italian restaurant which has been open for a few years, within this period of time it has built up a good reputation to the people in and around Brighouse. Another competitor is the Brooks restaurant; this is an upper class restaurant which also has a good status like La Romantica. Other restaurants which would not be classed as high competitors unlike the above are The Golden Hind Fish Restaurant, The Auctioneer, Swankies, Bengal Brassiere and Water Front Lodge. The advantages of having a restaurant situated in Brighouse would be that there is a good market demand for restaurants in Brighouse and that would produce the business profit. ...read more.

Middle

As you can see from the table situated above my prices for my products are much cheaper than the big retail outlets. Therefore this should attract more customers to my store. Some of my products will be probably be affected by the product life cycle, but some also will not be affected by this change, examples of products which could be affected by the product life cycle are products which people do not need to live on, such as new toys, children soon get tired of toys easily. One of this is the tamagotchi, it has been through the product life cycle, it sold rapidly on its release, then the effect wore away and sustained a slow level of sales till dropping rapidly. The products which won't go through the product life cycle, are convenience products like food and health products. As we need these to live on and couldn't do without them. The products I will be selling are clothes, there is a constant need for clothes, however even though there is a need for clothes they still can go through the product life cycle, clothes go through fashion/trend periods, every season there's a different type of fashion to come out and people (especially teenagers) want to get in on the latest fashions. This is why I think that my products will be affected by the product life cycle, because of the ever-changing fashions and trends in today's society. Legal Constraints The government imposes laws for consumer protection. They insure that all consumers are protected from dangers and they have the rights that they are entitled. Some of these include the health, safety, and security of the consumer. These legislations affect all businesses that advertise their products. Any firms advertising will have to meet the high standards of Service and the products they sell. Here are some legal issues that may affect my business. ...read more.

Conclusion

My store and marketing campaign will not only affect the local community but also the national community. It may not affect it as much but there a lot of local businesses and everything they do will affect the national community so if you merge them all together then it will have a big impact on the community of the U.K. One of those impacts will be that there will be increased employment opportunities which is a positive factor for the country and if there was a low employment that would be a negative factor, and isn't good for Britain's status. Another impact my business will have on the national community would be that the new jobs created will mean less people on the income support and job seekers allowance from the government, which will mean that the government will have more money to spend in the budget on public services such as the NHS, schools and the police force. Also for my business I will have to pay taxes on my profits will again go to government services and the improvement of public sectors in the UK. Also other people will be paying taxes on my products, which will be used by the government to be used on public services in the UK. But my business could create inflation in the country, which is a negative issue, this could be due to an increase of demand in products, so prices would rise and less people would spend their money on them as their prices would be too high. Another bad issue could be that the government might have to spend money on improving the environment due to the damaged which might be caused by my retail outlet, some of these damages which my business could do are pollution such as waste pollution which would be my leaflets which people could have dumped in the street therefore the council will have to get more cleaners, also noise pollution by the heavy pedestrian congestion which might occur. By Claire Nolan ...read more.

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