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Business Enterprise unit 5

Extracts from this document...

Introduction

Task 1: Part (a) Self employment is someone who operates a business or profession as a sole proprietor, partner in a partnership, independent contractor, or consultant. someone who works for himself/herself instead of as an employee of another person or organization. Being self employed offers many advantages, some advantages which I can face when operating a self employed business: * As I will be my own boss there is no need for me to take orders from someone else as I will make all the decisions that are to be made in the business which will give me greater control over the business. * It may also offer the opportunity to work from home and greater flexibility as i chose the hours i want to work and what days. * In addition I will have control of my daily workload & there is no fixed salary. * Profits generated towards me and not anyone else. * I get to feel a sense of pride and happiness when the business becomes successful. * In addition I can get a chance and oppurtunity to apply my skills and knowledge to what I really enjoy doing. * I will get full recognition from my work, as I will be responsible for all my actions. * I might be entitled to certain tax benefits, which can be a bonus. However there are also few disadvantages towards me being self employed, these includes: * Setting up a business requires commitment and a lot of hard work. * I will always have to make sacrifices, for example work long hours and no holidays. * I might have to face financial difficulties, as there will be times where money will be tight, but I will have to get through the tough times. * I will sometimes face isolation as the burden of the business lies on my shoulders. * I will lose out on company benefits, as if I worked for a certain organisation then I would receive company benefits, but if I have my own business I will not receive such benefits. ...read more.

Middle

Furthermore the employees of Quick Quality car wash will be trained to understand customer service and will always provide excellent service, which will result in consumer loyalty. Management Summary Quick Quality car wash aims to be recognised for the exclusive service it provides to its customers in the local area. As this business is a sole trader business , I am the only one who will be responsible for decision making in the business, I will use my experience of over 15 years to help make the business a success. In addition I will always welcome feedbacks and contribution from employees, who could also help make the business a success. Primary Research Analysis In order to gather primary research I conducted a survey by interviewing a total of 20 people from Walthamstow at a local petrol station. To conduct the research I carried used a random sampling method to gather my results. After carrying out the research and analysing the research I can conclude that, out of a total of twenty people, twelve people own at least one car, whilst a total of six people own at least two cars. Therefore from this you can see that there is a market out their for a car wash as a lot of people owns car. In addition the results also showed that a total of nine people out of twenty washes their car once a week, while four people washes their car once a month, finally followed by seven people washing their car twice a month. From this you can see that cars are regularly washed, so there will be customers coming to my car wash. Furthermore out of twenty people eight people said that they consider price the most important feature while choosing a car wash service to go to, followed by a total of seven people who considers quality as a major issue, followed by the last five who rates location as an important factor. ...read more.

Conclusion

The inside is also polished with good quality cleaner. The wash is completed within 10 minutes. * Both Interior & Exterior car was - �9.00 - this includes the exterior and the interior being cleaned, as mentioned above. The wash is completed within 20 minutes. * Full Special wash - �15.00 - This includes both interior and exterior cleaning and in addition, the exhaust receiving a good clean, with the alloys cleaned in depth and then polished to shine. This wash will take up to 45 minutes. * Car accessories - various price range, depending on the quality and type of products. The hand car washing business in Walthamstow may have to face many small competitors. Everything from local children raising money for their youth group on a Saturday by cleaning cars, to the automatic car wash machines in petrol stations, are competition for Quick Quality car wash. However, these two alternatives aim to meet the needs of the price-conscious individuals who are choosing the service simply so they do not have to clean the car themselves. Quick Quality car wash on the other hand, targets the quality-conscious individuals who value their car enough to spend �6-�10 per week to make it look good. Quick Quality car wash's competitive edge will be my personal experience for running 5 local businesses in the local area for over 15 years, which as a result are all very successful As mentioned I have a key interest in cars and have been in a sole trader business for over 15 years, and has an excellent reputation and countless of both business and personal contacts. In addition, I will develop a plan when I employee employees has put a great deal of emphasis on creating a system that is both fast and efficient, which will keep costs, in terms of time spent per car, to a minimum. Furthermore Quick Quality car wash's competitive edge will also be its quality service it provides with an affordable price. Kishan Hirani Unit 5 ...read more.

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