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Investigating a Small Local Business I Am Investigating Is: News and Chews- Balaam St

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Introduction

Unit 1 Investigating Business (Part A) The small local business I am investigating is: News & Chews- Balaam St, Plaistow E13 And the other store I am investigating is: News & Chews -To make a profit -To survive Aims & Objectives -To make profits -Beat the competition -Increase sales -International expansion -Develop social causes -Tertiary sector-Client service Retail service Business Activity -Tertiary sector- Retail service Client service Leisure Finance Internet Secondary sector-Manufacturing -In a partnership Ownership -Plc (Public limited company) -In a town, not out of town (low rent) -Near to customers Location -In or near a town (sometimes out, more space, less rent) -Cheap site The aims and objectives of News & Chews are not the same as those of Tesco's as they are two different type of business. One is a small local shop ideal for cigarettes, magazines and chocolates and the other is a global success with ranges of food and economy prices. News & Chews need to make a profit to survive which is both of their aims so they are only surviving as they are bringing in profit. The owner of the shop, Ravinda Patel has overrun the business for sixteen years so he must bring in enough profit a year to survive. ...read more.

Middle

Ravinda has achieved the definition of a partnership and so he is seen as a recognised businessman. The location is set up in a good place as it is opposite a school bus stand and is on one of the main roads in Canning Town. Ravinda also has another successful shop, which his brother runs in Essex. They chose to set up a business away from each other so they would not be taking each other's customers away. When I asked Ravinda why he chose this area to open up a shop in he said, "It has good potential of doing business in this area" I think he said this because there are a lot of people who live in the Canning Town area. To reach customers he also has a website which people can ask he if could get them a special type of magazine or new products. He said the location he chose to set up this business was quite expensive and drained his bank account for the first year but now has enough profit to lease the rent. Comparing ownership structures The ownership structures are completely different as Tesco's have shareholders and News & Chews have a partnership. ...read more.

Conclusion

Tescos always set up a store near transport or they create their transport i.e. a BT1 and BT2 bus in Beckton. Unlike News & Chews Tescos does not need to be near consumers as they attract them. They are not near consumers because they need a lot of square feet, which would cost a lot in suburban areas. News & Chews: Improving the business For News & Chews to become more successful they'd need to produce more products they are cheap but satisfactory. They'd also have to expand and add new products and go into other sectors i.e. secondary sector-Baking and manufacturing. Ravinda would also have to employ more staff so that he would not get stressed. He would need to set some aims and apply himself to them, as he hasn't got any at the moment. He could also buy existing shops and put the name News & Chews on it. He may also need to get an image for his business like the Tesco logo, he could also donate money to charity which would show that he cares for the people he sells to. Ravinda is at this moment planning to make his business bigger by adding another floor of groceries above the Balaam Street shop. ...read more.

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