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I am interested in establishing a furniture business because I think I can provide goods to sell to customers and other companies at affordable prices.

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Introduction

Business Studies Coursework The name of my business is '???? ????' I am interested in establishing a furniture business because I think I can provide goods to sell to customers and other companies at affordable prices. My products will supply comfort and style at work or in the home. The needs and wants I am satisfying are to sell stylish, modern furniture designs (from fitted offices to tables and reception desks to storage space). I think my products will sell because each item is hand-made to individual order so the standard range can be adapted during production to suit each customer's specific requirements. The products are made from many types of wood (oak, maple, beech, ash, merbau, pine, cherry, birch etc.), veneer/lacquer, wood based boards, mdf etc. ...read more.

Middle

To fill in a Deed of Partnership my partner and myself will have to decide and agree on the following (main agreements) : The capital to be contributed by each partner - �100,000 each (�2000 from other contributors - they shall get a share in profits and shares) The rate of interest to be allowed on partners capitals - 10% each The rate of interest to be charged on partners drawings - 12% each Any salaries payable to partners - separate accounts (with half of money in each) The ratio in which the remaining profit / loss is to be shared - 1/2 each We will also need to decide the working role of each partner; banking details; payment of tax; insurance arrangements; voting rights and arbitration arrangements; withdrawals and expenses due to each partner; changes in the members of the partnership; arrangements for ending the partnership; and arrangements in the event of the death of a partner. ...read more.

Conclusion

The objectives of my business are: 1. To break even and survive (this is very important, it means that I wont get profit but I wont have a loss). 2. Profit maximisation and sales will be the main objective (not only will I want to survive for a long time, but make profit too. The main stakeholders to benefit will be the owners) 3. Sales objectives (to make sales higher so to make more profit - this can be done by advertisement). 4. Freedom and independence (only having to talk over decisions with one other person). The stakeholders influenced will be my partner and I and all other contributors who have put equity into the business. My partner and I will each put �100,000 capital into the business (gathered from accounts and loans). There are also two smaller contributors paying in �2000 into the business. This means the business will be able to start off with �204,000. Natalie Cook ...read more.

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