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business planning

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Introduction

Munchies Internet Caf� is an internet/cafeteria business which had been establish in 2007. This essentially means that customers can have the chance to surf the internet for the price of buying a chocolate muffin. I think I have the relevant skills and capabilities of opening a business, because I have business qualifications that are required and I have also achieved an actual A-level in business. I feel that I have a good business brain and I am willing to take on challenges. With good business acumen, I feel that I should operate as a sole trader. The reason being is because it is the way many businesses begin. The requirements in intending to become self employed are relatively straight forward, and there are few restrictions about what I can do with the money I will earn. By starting up as a sole trader it is cost effective and the business is relatively cheap to establish and run. I will also have the added advantage that sole traders typically pay less tax than any other class of working people. I am very convinced that if the right resources are used then the business will come together and grow, which alternatively leads to making profit. The place where I am going to open my business is in the area of Bingley. Bingley is a small town in the city of Bradford. ...read more.

Middle

This inject of capital had been saved from a long period of time in my working life. So therefore I have avoided any charges of any kind, because it is my own money and I do not have to pay it back. My main aim for the caf� is to achieve a money-making profitable business that has the capability of expanding in the years to come. I have predicted that the business can achieve atleast �55-60,000 in 6 months, and that I have a good prospect in using the profit wisely as I have assess my current situation and I feel that my business that can be successful. I have made decisions about excluding some of the profit, about 20% to a reserve fund, which can be used in future to help maintain the caf�. The reason why I have excluded some of the profit is because if something was to occur, I will have some kind of finance to fall back on. As I am control of the business I have also decided to exclude another 20% of the profit for my own personal use. All of these exclusions will appear on the cash budget when financing the business, and I will be withdrawing them at the end of each month. Aims and Objectives Mission statement: 'to deliver the paramount of relaxation and comfort, and produce the finest home grown coffee' Short term objective: * To survive as a business in whole * ...read more.

Conclusion

I will give all I can to make my business a great success and to meet the ongoing needs of customers. Key personnel Managing Director, Head of Finance and Owner of Munchies Internet Caf� Zeeshan Hanif 27 years old 2 years in the food industry Accounting and knowledge on control finance in A-level Economics A-level Experience in interior designing Annual salary - 25% pre-taxed profit (see appendices for Curriculum Vitae) Other personnel Head of Kitchen (head chef) 1 employed expected salary: �15,000 (see appendices for Curriculum Vitae) Chef 2 employed Each earning expected salary: �11,000 (see appendices for Curriculum Vitae) Cashier 1 employed Expected salary: �9,000 (see appendices for Curriculum Vitae) I.T technician 1 employed Expected salary: �9,000 (see appendices for Curriculum Vitae) Training According to my financial resources, I have a set budget of �3500 for training. This includes the obvious health and safety training for staff to begin with. It is very important for any employee to have the relevant health and safety skills so that the business could be kept in an appropriate and clean ambiance. This budget will also include first aid training for the head chef and for me if in any case of emergency. This ensures that everyone is safe and that the customers have the reassurance of some one being there to help in any situation that could occur. By going through the process of training, the staff will understand the importance of keeping and maintaining a clean and safe environment. Zeeshan Hanif Unit 8 A2 1 ...read more.

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