• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

I have been hired as a business consultant for an entrepreneur called Sally Thomas. An entrepreneur is somebody who takes a risk with his or her money by investing or starting a business.

Extracts from this document...


Introduction I have been hired as a business consultant for an entrepreneur called Sally Thomas. An entrepreneur is somebody who takes a risk with his or her money by investing or starting a business. A consultant is somebody who is hired to give advises on how well the business will do for a fee, taking into consideration all the influencing factors. Sally has savings/capital of �30000 and wants to open a business in the greater Peterborough area. Capital is the money that they have; this includes property that they own. She wants to make a profit, profit is the money that she gets after paying the costs of her business, and wants me to prepare a business plan that will include recommendations to whether sally would be better being self employed or employing somebody else. How good Sally would be at owning the business. I will be saying what product or service the business could supply. Weather it would be better to own the business by her self or going into a partnership. Where she can get a source of money from i.e. a loan from a bank. I will research the local area to see if there are any competitors trying to produce the same product and find out how much demand there might be for the product. I will also look into the local economy and infrastructure. Where the shop will be opened in the town. What target market the business will aim for. I will look at how much money we will make, profit, and how fast we will make it. I will predict how much money the business will make and lose. I will make some business objectives for Sally's business. The purpose of a business plan is it describes how a business is going to work. It can also be used as a guide for future shareholders who want to know how successful the business might be. ...read more.


4 There is a lot of stiff competition as most people get the same paper every day without variation. It will be hard to get customers but if we can get a good reputation hopefully word of mouth will do the rest. There must be about 20 different papers but if we can provide something the others can't or even a mixture of all the others we will sell a lot. 2 Due to the threat of war they will use newspapers to keep up with the latest developments if they missed the news. There fetish to know the celebrities secrets and gossip 4 Rent/mortgage of premises, printing machines, staff, training, marketing, promotions (freebies), paper, ink, staff, wages, training, loan required. 1 Sally likes to be in charge so she will be good at keeping everybody on task and having to meet deadlines will be a challenge at first but she says she likes a challenge. She has what it takes to be a manager as she has trained to be one in Sainsburys. 3 14 Sports equipment shop There would be a lot of interest form kids for sports stuff. But if they are our target audience the price will have to be kept quite low, as kids don't have a lot of money. But after a while we notice that it is the parents that are buying the products for our kids we can higher our price slightly but we must still be cheaper than the other places. 4 There are a lot of big names that are dominating the market like JD & JJB but if our prices are lower and we advertise in the right places we could steal their customers. Also if we have a certain thing like trainers as a loss leader it might make them buy all their other sports stuff from us while their there. 3 Young people are always active and a lot of kids play football with friends and need equipment to do so. ...read more.


Adjacent roads such as the A1 (M), A14 and A47 provide swift access to the national road network. There are rapid connections with major airports such as Heathrow, Gatwick, Stansted, Luton, East Midlands and Birmingham. Peterborough is within easy reach of major East Coast seaports such as Felixstowe, Harwich and Hull so exports and imports will be easily done. Peterborough's GDP (gross domestic product) per head of population (the total rate of output divided by the resident population) is the highest in the East of England with a figure of �13,673. The figure i received from research for the total of England's GDP per working person is 572.68 to 2 decimal places. However this seems unrealistic considering Peterborough's is over 13,000. After a little more desk research i found the average weekly wage to be �444.3, thus making the average yearly wage roughly 23,103.6. Knowing that GDP is different to wages i will now try and find out the average yearly wage for peterborough so i have some results to compare, by doing this i will find if their is a lot of money being earned in the peterborough area compare to England. Still i cannot find the answers so i have nothing to compare. The theft rate in Peterborough is very high compared to Huntingdon. 28.6% of 1000 vehicles are broken into in Peterborough; in Huntingdon it is only 9%. The population and households are very similar. Finance There are many different sources of finance that sally could use to finance her business. One of these is a bank loan. The advantage to this is you get a large amount of money and you don't have to wait for it. The disadvantage is that you have to pay more back than you borrowed. Investment is another source of finance, this is when you have people give you money to put into your business, but they get a percentage of the profit. The advantage of this is that you receive a large amount of money Not yet finished The viability of a new enterprise Thomas Husdell pg. 1 of 11 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. The business I am going to set up is a snooker club,

    Also, if I need financing from a bank or other financial institutions, I will have to prepare a business plan to apply for a loan. A well processed business plan will help with profiles , this outlines your financing needs and sets out your assets and liabilities.

  2. Business Aims and Objectives.

    The amount of the grant varies, depending upon the number of jobs likely to be created or protected. Regional enterprise grants This is for small and medium sized companies who are employing under 250 employees with investment projects under �50,000.

  1. E-commerce in Business Companies of Bangladesh.

    Similarly the practice of posting a website by individual producers has begun. However, if Bangladeshi producers are unable to accommodate electronic transfer of payment and other facets of e-commerce, the business opportunity will move on to countries that have developed such systems.

  2. customer service with in Sainsbury

    * To find out what needs to be updated. For example, questionnaires may gone out of date. * To meet customer needs more effectively. * To target weaknesses. This means, finding ways of improving a problem/problems after it has been discovered. * Have a develop plan for the business where they can work from.

  1. This coursework that I intend on completing will be based around setting up a ...

    where people shop and how often they purchase from Caerphilly. Is there an opportunity for the development of a music shop in Caerphilly? As you can see from the chart above titled "Where people live" 64% of the people question live in a 3-mile radius of Caerphilly.

  2. business plan and organise event

    There are several other methods that i could've used to conduct my primary research, i was considering interviewing a certain amount of students within the 6th form, but organising an interview and getting a someone present for that interview would be time consuming, and therefore I thought it would be unnecessary.

  1. In this coursework I need to produce a detailed business report on one medium-sized ...

    Main source of finance is selling shares and borrowing from the banks. Tesco has a thousands of owners, every man who has any shares is owner; but these people can't control the company, so company has a board of directors and chairman who control the company.

  2. For my report I will be looking at two businesses, a small business and ...

    of its kind in Britain. Around 92,000 colleagues now hold Wal-Mart share options through CSOP and Share save. The most recent payout (October 2002) saw almost 11,000 colleagues pocket �14.5 million worth of shares through both schemes. Snippers, on the other hand falls in the private sector.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work