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Choose a vacant local business site and make recommendations on how it may be developed for business purposes.

Extracts from this document...

Introduction

Contents Page Introduction Page 2 Preface Page 3 Personal Details Curriculum Vitae Page 4 Mission Statement Aims Page 4 Methods at arriving at aims Page 5 Objectives My business objective Page 7 What are my plans and ideas? Page 9 What type of business am I going to chose? Page 10 Production Details Factors that may affect the location of my business Page 13 Site Description Page 14 Map of Location Page 15 Points I need to consider with my location Page 16 What should I call my business? Page 17 Product Description Market Research Page Questionnaire Page My Results Page Market Strategy Page 18 What is my USP? Page SWOT Analysis Page Production Details International Trading Page Health and Safety Page Introduction The task set to do was for my business studies coursework was to choose a vacant local business site and make recommendations on how it may be developed for business purposes. I have decided for my project to start a business that would be providing a service of selling clothes and accessories that have been imported from America. The store would contain American well-known label clothing. I want to go into this line of business because I feel there isn't enough variety of clothes for the young youths as well as adults. There would be a variety of clothes ranging from hats to shoes. I wouldn't manufacture the clothes; I would buy well-known labels from factories. The items in the shop would be cheaper than any other shop in England. The labels that would be sold in the shop would contain: Fubu, Timberland, Nike, Adidas, Reebok, Sean John, ruff ryders, Rocerwear and many more. There would be designer clothes that would be sold. There would also be accessories like sunglasses, goggles, swimming trunks, hats, wristbands and headbands. There would be a wide range of trainers that England don't manufacture. Most or almost all of the products would be American. ...read more.

Middle

Also good road and railway connections are required to transport goods and people quickly around the country. Businesses need good communication services such as the telephone, e-mail and the post. 3. Labour Supply: Firms who need skilled labour need to locate where they can find these people. If a company wants to keep wages down to the minimum they would locate in an area of high unemployment. Also frequently firms cluster together to find good workers if it is a certain profession. 4. Rent or the cost of the premises: This factor that the location is sorted by. If the expenditure for the location was to high then it immediately wouldn't be looked into further. This is probably the most important element to choosing my location is can I afford it? 5. Location of the market: It is wise to locate the business where my potential customers would shop. If I locate adjacent to my customers in a patronage site in a result to that I feel I would have an enormous amount of customers. The classification of my business, which is a retail trade, would mean that my whereabouts would be near or alongside a shopping area. Were a lot of potential customers would shop. Site Description I have chosen my location and I am satisfied with it. I discovered it by looking on the Internet. The web site that I found it on was www.vebra.com. This web site was very beneficial and profitable to me. There was a range of premises to chose from. I found this the best one to fit my purposes and goals. I am going to carry hire a surveyor to survey the premises. After I get the results from the surveyor, I will then proceed with my business. These are pictures of the location: The unit occupies an excellent trading location, with nearby retailer including Tiny Computers, Peacocks, and Bon Marche opposite the entrance to Selbourne Walk Shopping Centre. ...read more.

Conclusion

Then I made assumptions on how I would fulfil those aims. My plans and ideas were explaining what I will have within my shop once it is set up. I recommend that I will apply all of them as a fundamental key to keep my business running smoothly. In regards to what business I will choose there were several options. I could have been a sole trader, partnership, private limited, and public limited. But I had no partner to go into business with so that eliminated that. With private limited I find it to expensive to set up that type of business. I looked at all the different things that will affect the location. I made sure that my business suited all of the positive things needed in a profitable location. The Wood Green area is one of the best places to trade. My market research became very useful to my planning of my business. It allowed my to realise what my potential customers want and expect within a clothing shop. This research was the main part to my business plan and without it my business plan would be useless. I am going to run some of my business based on the findings I found from my respondents. A SWOT analysis is a analysis of the strengths and weakness my business has. This will be updated frequently by me to make sure that I am on top of things. The health and safety issue is essential within any work place. It is strongly recommended by me that I will in force these policies of health and safety. In summary my business idea is thoroughly thought out and will be profitable. I will be able to eliminate competition and this will result in me gaining more profit and hopefully expanding. The question in hand is 'How do you set up a business?' the answer is a business plan. The up coming question is 'Is my business plan and ideas worth pursuing?' The answer to that is most definitely yes! Page - 1 - ...read more.

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