• Join over 1.2 million students every month
• Accelerate your learning by 29%
• Unlimited access from just £6.99 per month
Page
1. 1
1
2. 2
2
3. 3
3
4. 4
4
5. 5
5

Extracts from this document...

Introduction

Evaluation I decided to undertake this particular business plan as it is something that I see myself genuinely doing in a few years time. My research was based on the local Harrogate district. I searched online for other cafes in Wetherby and analysed them. I found out where they were, how successful they were, the profit levels they made etc. The research I carried out was an essential part of the business plan. Once I had the data I could see if my financial targets would be within reach and whether people would be interested in the food service that I would be providing. I constructed a questionnaire and asked around 40 people their views on my idea, improvements that could be made and features of Notons that they particularly liked. I also asked how much customers would be prepared to spend on food. After analysing my results I researched how my competitors worked and were run. I compared prices and from this was able to employ a pricing strategy. I decided to use cost plus pricing so that I could make a constant profit from the outset. I described my facilities and location for performing the work. Then I expanded on this, discussing when, where and why. I kept the plan fairly short. I felt that I needed to get all the information the audience needs into 20-25 pages or less. ...read more.

Middle

Notons will generate a total of �118000 in revenue. The company's cost of goods sold will be 86000. This leaves a gross profit of �32000 Subtracting �20000 in operating expenses from the �32000 gross profit leaves a net profit of 12000 �12000 net profit --------------(divided by)-------------- �118000 revenue The answer, 0.102 [or 10.2%], is the net profit margin. Return On Capital Employed This is a measure of the returns that Notons is realizing from its capital. ROCE = net profit capital employed x 100 12000 x 100 33.3% 36000 This ratio represents the excellent efficiency with which my capital is being utilized to generate revenue. I should have obtained at least 25% market share by the end of the first year. If I can gain a quarter of the market share then I will gain a strong foothold in the market. I will be able to build on this in the second year. The future success of my business will depend on whether Notons keeps up with competition or not. There are various opportunities and threats that I could face in the future. Different factors could affect the relative competitiveness of Notons. Opportunities * loosening of food regulations * arrival of new kitchen technology * introduction of training. The other cafes don't provide intensive training, but as the market becomes more competitive training is more in demand. ...read more.

Conclusion

I should have said what makes Notons different (and better) than each of them. I should have also shown that I know my audience. If I was really going ahead with the business I would have produced several versions of the business plan--one for bankers or venture capitalists, one for individual investors, one for companies that may want to do a joint venture with me rather than fund me, etc. I perhaps should have discussed any short-comings in the business plan factually, showing how and when I would address the situation. I could have discussed payout options for the sake of any stakeholders. All investors want to know when they can get their money back and at what rate of return. Most want out within three to five years. I should have provided a brief description of options for investors, or at least mentioned that you are ready to discuss options with any serious prospect. I think I ignored the fact that appearance counts. I could have pushed an artistic or imaginative idea, and show some creativity (but not at the cost of keeping the document easy to skim and find facts). Two column documents are easier to read than full pages of text. I could have used charts or tables or graphics or illustrations to break up long passages of words. Adding a spot of colour on the pages would have been good...a coloured line on the pages or a coloured logo. James Noton ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Structures, Objectives & External Influences section.

## Found what you're looking for?

• Start learning 29% faster today
• 150,000+ documents available
• Just £6.99 a month

Not the one? Search for your essay title...
• Join over 1.2 million students every month
• Accelerate your learning by 29%
• Unlimited access from just £6.99 per month

# Related AS and A Level Structures, Objectives & External Influences essays

1. ## Btec National Business Level 3 Year 1 - Exploring Business Activity

However, there are fewer levels of management. I created an organisation chart for both businesses and it's following below: Section 4 Flow of work: Controlling the flow of work between the functions of a company is necessary. For example, in Microsoft an advertising campaign for new product, specialist input may need to come from various sources.

2. ## The Business Environment Coursework. Describe the type of business, purpose and ownership of ...

VAT (value added tax) this is tax added on the cost of a lot of products and it means that businesses have to charge more for products to cover the cost of VAT. Customs Duty - a tax on imports and exports of goods and services.

1. ## Explain the purpose of keeping accurate financial records.

Within the same time limits all companies (other then exempt unlimited companies) must deliver the copies of the accounts to the registrar. Members, debenture holders and auditors are to receive a copy twenty-one days before the general meeting. Annual return A company is required to deliver to the registrar of companies once a year the annual return.

2. ## External influences on business. At ASDA we have to follow the following employment legislations ...

* For ASDA a boom stage could also mean that the majority of our customers are borrowing from the banks and this money is spent on our luxury items. RECCESSIOIN When a business is in recession for example ASDA it is described as s 'long term slump' this is where we will gradually be heading for a slump.

1. ## Departments and their roles within a business.

For example, if the finance department and marketing department lack communication skills, the finance department may add up and calculate the costs incorrectly. The marketing department should double check their costs and confers with the finance department, ensuring that the correct figures are taken and calculated.

2. ## Barclays Investigating a Business

Survival- Barclays needs to continue aiming to survive as although they already have a well run business they still need to ensure their service isn't compromised at any time. Barclays will not have to work as hard as this aim as they would have when they first launched 'Barclays Bank'

1. ## Investigating Business. Tesco PLC. I will be describing the aims and objectives of ...

The price should be higher than the cost to make the product so that they can make a profit. When looking at the price charged by their competitors, Tesco?s makes comparisons of the prices for their products/ services to their competitors who offer similar services such as Asda as Tesco?s so that they can decide how to price their product.

2. ## D2: Analyse the importance of legislative and regulatory controls on food retailers

customers don?t get food poison so if food retailers don?t follow this act they can put people lives at risk and they will be fined thousands for not looking after their stores, an example of this is when Tesco had horse meat scandal also described as beef, their reputation went down, and some of their customers might of stopped going.

• Over 160,000 pieces
of student written work
• Annotated by
experienced teachers
• Ideas and feedback to