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Is there scope for a new business in Crew Green?

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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.

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