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Business Studies coursework

Extracts from this document...

Introduction

Business Studies Coursework Introduction My business studies coursework will be based on a Car Showroom. My garage is Called Local Motors. It is a locally owned garage selling a range of new and used cars, its emphasis being on selling new cars, although it will resell cars taken as part exchange. It is run as a partnership, with one manager, and one senior car salesman, this is because it will be a relatively small business to begin with, and a large organizational structure will not be required. There is also part time staff used for washing and cleaning the cars. There is competition from locally established licensed dealers. It has a main target audience of middle age men and women looking family cars. It will also cater for 2 other main markets younger drivers, buy supplying older and cheaper cars, and a luxury market, selling premium cars such as BMWs to business men. Questionnaire Q1. How often do you buy a new or used car? More than once a year once a year Once every 2 years More (please Specify) _______________ Q2. How much would you be willing to spend on a car <�5000 �5000-�9995 �10000-�20000 More (please specify) �___________ Q3. What is the most influencing factor when buying a car Reliability Cost Design Friendly Service Q4. Would you be interested in a New Car Show room located in Canterbury? Yes No Q5. What is your favourite make of car? _____________________________ Q6. Which of these offers would persuade you most to buy a car from out showroom Free Insurance Interest Free Credit 2 Years Servicing and warranty �500 discount Free Mod Cons e.g. Sat Nav Q7. What is the next car you buy likely to be? Sports Car Family Hatchback Small Hatchback MPV Estate Q8. Would you prefer to buy a car on a small inner city garage, or a large garage in a more rural area? ...read more.

Middle

* Radio - radio advertisements on local stations * Word of Mouth - customers will share their experience with other potential customers, by ensuring they have a good experience, it ensures that a strong word of mouth following has formed Place The garage will have a fairly simple route of distribution; it will take cars from sellers and part exchanges, and also new cars directly from the manufacturers. There will be multiple channels as the cars are being bought from different car manufacturers, and individuals. Our cars will also be available to buy on the internet, this is a cheaper option for the company, and more convenient for the customer. We will offer delivery to the buyers' house, charging enough money to cover the costs incurred from driving to the buyers' house. The garage will be situated outside of the main city centre of Canterbury, this is because the land is much cheaper, and, as it is within walking distance of the city centre and will be passed when driving into Canterbury, will still have the same accessibility to customers. Finance Section Fixed Costs (per month) Fixed Cost Amount (�) Labour �3,500.00 Materials �32,000.00 Loan Repayments �3500 Rent �2,000.00 Lighting �0.00 Heating �300.00 Telecoms �30.00 Insurance �2,000.00 Advertising �1,000.00 Total Fixed Costs �12,430 Variable Costs (per Unit) Car �8000 Selling Price: �9000 Analysis of Breakeven chart And Cash flow forecast Cash flow forecast. The cash flow forecast shows that by the end of the first year the business will be approximately at a point where it is breaking even, in the months after this it will begin to make a profit. As the main aim of a first year business is to break even, this is an extremely good outcome. The reason why there is such a large loan at the beginning of the year is to cover the stock and start up costs. ...read more.

Conclusion

The main factor the business will be faced with is motivating the staff; this will be an issue not because the business will have such a large number of employees, but because there are so few. It means that each member of staff will expect more time to be spent motivating them. The Theory Y management style that is used creates a feel good factor within the staff as they are treated as hard working, well motivated people. When staff are treated as such, they begin to act in this way. I believe that the business will succeed, this is because it has an in- demand Unique selling point, not just for individual products but for the business as a whole, which will be an invaluable advantage in setting up the market share. The company will most likely break even, or make a minimal profit during the first year. But the business reputation that can be developed will allow the business to expand in years 2 and 3. There are several reasons why this business will not succeed. In the first year this will most likely be due to competition adapting to this businesses USP, although this will be extremely difficult due to the large number of their staff, but as this business begins to expand, it may encounter the same problem and be unable to motivate its staff in the same way, with workers feeling less important and less important as new staff join. In the following years the business will have needed to build up a significant enough market share to compete against the established business, as the business USP will likely fade as it expands, or the cost of ensuring that staff are motivated to provide an excellent level of customer service over a good or adequate level will likely exceed the income gained from doing so. One paragraph on underlying themes in competition, economy, and reasearch ?? ?? ?? ?? Ryan Bebbington 0614 ...read more.

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