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# In order to have the best possible Business Plan I had to take various steps. These may have included: Primary and Secondary research or even an analysis of the competition I'd be facing.

Extracts from this document...

Introduction

Middle

It outlines the primary and secondary research needed to fully identify what our business needs to look for from competitors and what they need to ask their target market. Special tools like the PESTEL analysis should be used to make sure that Stationery on Tap have acknowledged constraints that could affect their business, certain things that they may think is irrelevant others may think that it is the one thing that they don't do therefore they will not purchase from us. The amount of money needed to make sure that we are financially constant throughout the first few weeks is very important. This need careful consideration and does require to be looked at with the utmost highest regard as this is imperative. Our shareholders are entitled to know when they would be able to get their returns. The ROCE (Returns on Capital Employed) equation compares the net profit of Stationery on Tap with the owner's capital. It basically shows the owner how long it would be before they can get their capital back. ROCE: 248.50 *100 = 123.94% 200.50 The Net profit percentage compares the net profit to sales. This equation is taken from the profit and loss account and turned into a percent. Net profit percentage: 248.50 *100 = 56.16% 442.50 The Gross profit percentage is also taken from the profit and loss account. This measures the gross profit compared to sales. Gross profit percentage: 265.50 *100 = 60% 442.50 There is some debate about whether or not it is advisable to have a large profit. If you are a small company like Stationery on Tap then we don't have the resources that would cover a larger company (eg) WH Smith. Having a large profit could make your tax quite high meaning that you would noticeably have to pay more. Since this is our first year we have nothing to compare these figures to. ...read more.

Conclusion

Alternative Financial Strategy In the beginning we sold shares to those of the two AVCE classes and to others around the college. At the moment we are considered to be a limited company, this means that we only sell our shares to friends and family. If we change this and become a plc then we could sell our shares all the time. (eg) on the stock exchange. If we were to sell shares on a regular basis (eg) every few months, then we would have a financial stability that would help with expanding the business. To predict before hand how the business could develop in the future we could use a break-even chart which will show us just at what point we will be making more money than we're spending. This is a good way to have a clearer depiction of what may happen in the future. Also this could be used to give us an outlook on what prices we should sell our products. Hopefully by this we would have an idea on whether or not we would make a lot of money or even a standard amount. The break-even charts would show us (a) where we would break-even and (b) how many products it would take to sell for our total costs to equal our total revenue. Another financial strategy would be to lend money from the bank. In the real world this would be considered unrealistic but we would only be lending a small amount. However even though this is a small sum of money (eg) �100, the bank would want to see financial records for the business. Now if Stationery on Tap were not able to show these records then we would not get any money. With a good business plan which will reflect how well the business would do the banks will see no reason to not lend us the money. Lorraine Charles Mr. Graham ...read more.

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