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Business Proposal

Extracts from this document...

Introduction

INDEX 1. Introduction 2. Methodology 3. Aims of Project 4. Production Aims 5. Finance Aims 6. Findings 7. Evaluation Introduction In this business proposal, I had to come up with a business idea that could be successful if I was supposed to do it for real. I chose three ideas to take forward which are a bowling alley, snooker hall and finally a Halal burger van. I will conduct a swot analysis on each one of my ideas to conclude on which idea is the best to take forward. Bowling Alley Strengths Lucrative business once established weaknesses Huge start-up costs Needs a big place for the bowling alley Opportunities Growth Threats Lack of interest Economic Changes Lack of interest Snooker Hall Strengths Very popular weaknesses Little knowledge of the sport Start up costs Opportunities Growth Expansion into other areas such as snooker and bowling as well Threats Competition very high Economic changes Lack of interest Halal Burger Van Strengths Is something that has already been proven to be a successful idea - Nandos Target audience - ethnic minority Expertise USP- Halal meat weaknesses Halal meat has small target audience Small burger van difficult to generate enough revenue Opportunities Growth - becoming the new Nandos Threats Competition Rise of new competition Economic changes Laws - health and safety, new legislations Licensing procedure I have chosen the Halal burger van idea because I believe I can potentially be successful in this business. ...read more.

Middle

These methods are arguably not as successful as a TV advert however; they are cheaper which means that it is economically viable for my business. Production Aims Loan I checked out numerous banks and their rates and I found this to be the best rate (see appendices). 6.8% APR typical on loans between �1,000 and �25,000. I would be taking a loan of 15 thousand, which will be paid in 5 years this would cover all my costs for a year. Job Production Job Production is used to refer to when a product is produced with the labor of one worker and this is the method I will implement in my business. Job production is scarcely used for bulk and large scale production and mainly used for one off products or prototypes, as it is inefficient; however, quality is greatly enhanced with job production compared to other methods. New, small, firms often use job production, before they get chance to expand. Job Production is usually motivating for workers, because it gives the workers an opportunity to produce the whole product and take pride in it. Key benefits of job production include: * work is generally of a high quality * a high level of customization is possible to meet the customer's exact requirements * significant flexibility is possible, especially when compared to mass production * workers can be easily motivated due to the skilled nature of the work they are performing Disadvantages include: * higher cost of production * requires the use of specialist ...read more.

Conclusion

This means that I can be very confident about the future customers I will have as in my questionnaire most people said that they will be willing to come. Analysis of findings The findings show to me that most of my potential customers are aged 18 or under which means that I have to make sure that my burger suits their tastes as they could potentially make up the bulk of my customers. Most people said that they would be willing to pay for the burger if it cost up to 2.99 pounds so I will have to make sure that my prices reflect that. In short the findings show me that there is a gap in market and that the consumers would love a burger van therefore I reckon it will be a good idea to go forward with. Evaluation There are reasons for and against me not taking this idea forward. I will start by first giving the positive of why this is a good idea to take forward. First of all the advantage of this business is that, it is small which means that for a sole trader like myself it is easily managed and it also means that I am very organised as it is a small business. In addition, the business is a tried and tested idea, which has proved successful in the past, which increase my chances of being successful as well. Businesses such as Nandos have proven that this is a great idea if implemented correctly. ...read more.

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