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

Is there scope for a new business in Crew Green?

Extracts from this document...

Introduction

Is there scope for a new business in Crew Green? The local area I have chosen to investigate whether or not it needs a new business is Crew Green. This project requires me to produce an imaginary business. To do this I must research into all aspects of a business, using books, people, and previous knowledge. To help me do this I will use my knowledge of business studies and help of texts and other sources as I proceed during the project. I will also draw up some points I must use so that I cover all the points that will make my business successful. Missing shops in the area of "Crew Green" There are no shops in the area of Crew Green so any shops that could be placed. Some shops that could be placed in Crew Green: SEE SPIDER GRAM OF POSSIBLE SHOPS TO OPEN As there are no shops in Crew Green any shops of the services could be placed in Crew Green although some would need bigger premises than others but this is understandable. I will try to find if there is any secondary research I could do into the matter of which I am investigating but I expect that I will have do my own primary research as this is not a common thing to do and any other businesses although might of done this were not probably going to have published it. Primary Research This is where I collect my data for the purpose of knowing what businesses people want and what other business are around the area I am investigating, this will involve going out and carrying out questionnaires, and interviews. This method of research is expensive and time consuming. There are different primary research methods these are: questionnaires, interviews and surveys etc I will use most if not all of these methods. I will use the questionnaire to find out specific information that I need to find out e.g. ...read more.

Middle

Been a small firm I have my advantage over been a larger firm e.g. been in a partnership these are simple: I have more communication with the customer so I know what they want and can build up a friendship with then leading to loyal customers. Another is that been small I have lower fixed costs which means I can be more flexible with my prices. I have decided on the name "Flowery Florists" this is because I am selling flowers and I am a florists it is a simple name but I think that it is catchy and would catch peoples attention What is the aim of "Flowery Florists"? The aim of "Flowery Florists" is primarily to survive short term and to be able to compete with other flower companies in the local area although there is none apart form a lady who sells dried flowers about 2 miles away in her home. Also to brake even, but provide a high quality service to the public. Then it is to make a profit. For the first year the aim of my business will also be to become a well-established business, and to remain open (not be forced to close due to lack of business or trade). Sources of finance Buying/ renting: for buying or renting my purposed location of around �120000. It would make sense to take out a bank loan or even a mortgage to repay the bank in small affordable installments I might even take out a loan of �130000 this extra �10000 would be used to buy all my equipment needed to start off the business and to pay off my first month or two bills e.g. electricity. I have found out that I can borrow �130000 at 14.9% APR (variable) over ten years paying back an amount of �1244.75 a month back this is a lot of money for a small company who especially in its first few months would not be able to repay this amount. ...read more.

Conclusion

from the village so there would not be any employment the old way that I can see me befitting the village would be that I am another business trading in such a small village this would give the local area money and I would maybe get a contract to put flowers in the village to make it look nice. Conclusion As with any business I am going to have to over come a few starting problem these could be getting the cash to start up the business getting permission to put the business there. I think that the main hurdle that I will over come would be getting and attracting customers to my shop this but from my market research I think that it would as I think that the people I interviewed and wanted a florists would tell their friend about it and with local advertising methods it should have good chance. The one main concern I would have if I was to be setting up the business would be the cash this is a worry that I would have because been a sole trader I would have unlimited liability and it could ruin my life and devastate my finance if anything was to go wrong but on the other hand if it was to succeed as I think it would- look back to my results it would be a good little money earner. As the business is not up and running and I have no way of forecasting what its sale and revenue are like I can not really say what I think the businesses prospects are but if things were to go right which I hope they would I expect I would move to a different area and try to make my business expand and grow and try to make as much money as possible but only been a very small florists in a not too well know area I think that expanding is and would be a long way off. ...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. Marked by a teacher

    Unit 4 Business Studies

    4 star(s)

    onto their website they are communicating with the customer and this has to be effective enough which makes the customer go onto purchase products from their business. Different target audiences have different effects on the design of the website for example if the business was targeting kids then the website

  2. For my business report I am investigating the Co-op erative society supermarket.

    This protects the customer from businesses that sell damaged, illegal or counterfeit products. Co-op ensures that all its goods and products of quality and meets all health and safety requirements. 5) Product availability Customers buy goods or services to satisfy their needs and wants.

  1. The Purpose and Scope of MIS - Management information systems.

    If profiles of working populations in the developed world are examined, they show that the largest proportion of workers are now engaged in some form of information handling work. The Banking industry is one which has undergone significant changes in the face of new technology over the last decade in order to stay competative.

  2. My aim is to research and produce a formal business report on my the ...

    include visual information to aid in understanding Meetings For formal purposes When matters of importance have to be discussed Both internal ( staff, directors, shareholders) And external(stakeholders, suppliers) Voice and presence can be used to emphasise meaning and attitude. Also immediate feedback is received Voicemail To convey information and urgent messages (Usually informal)

  1. Examine the strengths and weaknesses of the business by performing an internal audit on ...

    Stock Control * Berwin and Berwin Ltd operate a system of 'Just in Time' stock control. This means that finished goods are ready to be sold as and when they are demanded. * This is a particularly appropriate system for the business, as they operate a system of forward ordering.

  2. For my GCSE business studies I have to make a portfolio investigating two contrasting ...

    The running costs of each store are its overheads. Overheads include everything from the phone bills to the salaries to the cost of stationary Each store is then ranked on how well it mages the business and how it contributes to the company. This is calculated with a simple formula: Contribution = cash profit minus overheads Therefore the store,

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

    The Availability and suitability of the workforce; Worker skills, the level of unemployment may all need to be considered when making a location decision. Competitors; The amount of competitors will need to be considered as this can affect the sales revenue of the business.

  2. customer service with in Sainsbury

    but this will be drawn to the customers' attention before they commit themselves. * Regulatory complaints Occasionally, we may receive complaints through a regulatory body like the Advertising Standards Authority or local authority. We are always willing to discuss issues and to co-operate with both enforcing agencies and local authorities during their investigations, and seek to resolve problems speedily.

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