• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17
  18. 18
    18
  19. 19
    19
  20. 20
    20
  21. 21
    21
  22. 22
    22
  23. 23
    23
  24. 24
    24
  25. 25
    25
  26. 26
    26
  27. 27
    27
  28. 28
    28

My business idea is to open a fish and chip shop.

Extracts from this document...

Introduction

Unit 6 Business Planning Task 1(E2 ) My business idea is to open a fish and chip shop. At this shop people will able to buy hot food such as fish and chips and many other things such as drinks. I have chosen to open a fish and chip shop in Queensbury Parade that is in the London Borough of Harrow. I am providing this service as people have to eat, the food I will sell will be tasteful and above all my services will be convenient. There are many different retail shops at Queensbury Parade supplying various services and goods such as a, *newsagent shop *Pub *A bar *Factories and warehouses *Safeway supermarket But there are no hot food services available. I have chosen to open a fish and chip shop as simply because there is no hot food services available at Queensbury and as there is station (Jubilee line) so there would be a lot of passing trade. My business will be called Usman' Fish and Chip shop, located at 7 Queensbury Parade. My business will be a sole trader operator as this is the easiest set up. Being a sole trader there are less regulations that I would have to comply with but with serving hot food I will have to obtain permission from the local authority. As with preparing hot food I will have to obtain planning permission for the local authority, as there are certain laws that have to be abided. I have to obtain the A3 planning permission that basically states the laws and regulation on serving and preparing hot food. I will also have to require insurance for the business as you must have this by law. By law any business that employees people even part time must have insurance. This will provide protection against accidents etc. Starting up formalities for a sole trader are fairly simple as only need to register as self employed, I am responsible for all the costs of the business and the debt. ...read more.

Middle

In order for the business to run successfully I will also need consider the following listed below, * Manpower/ cost *Production *Premises *Machinery/equipment *Vehicle *Raw materials *licensing or planning permission *environmental restrictions Manpower For my shop to run effectively I will need a hard working employee, I will need a single person to help me prepare the food and also carry out various duties such as cleaning. As I am just setting up my business I will not be able to pay a high wage so I am considering employing an individual who is looking for an extra income. I am going to comply with the minimum wage Act as I will value my workers and by them working effectively my business will be a success. Below is a job description that the person I will employee will have to comply with and also it states the qualifications, requirements the wage that will be paid and the number of hours that will have to be worked. The individual will be trained on the job by my self so the method will save training costs. This is appropriate as my aim is to keep the costs to a minimum. I will display the wage notice on my shop window to attract the worker before the shop opens. Key personnel Name Age Qualifications Position Wage ........... 17-60 none needed serving customers �4.50 ph Preparing hot food Responsible individual needs Total pay for month = 4.50ph x 77hr = �346.50 aweek The above is a rough indication of the labour costs and hours that might be needed. There will be times where only one individual will be needed to operate the shop, so my assistant will mostly come in near the busiest periods. I would consider employing two part-time employees this would incur extra costs and shift schedules to be maintained. Resulting in extra time being consumed. ...read more.

Conclusion

The business plan that I have produced evaluates and takes into account the market size, the population the prices that are being charged by the competitors. In my business plan I have set my self a budget and also produces a sales forecast that I hope to follow. The budget is designed to keep the costs on track, I have allocated funds towards advertising and other commitments. The financial plan gives a clear indication on how the money should be spent. I have also produced a break-even analysis which indicates the number of sales needed to break- even. The advantage of this is substantial the break-even indicated that the business will be running successfully. The only major difficulty I found was the market size once achieved all the other aspects were imminent. The above are the advantages of myself producing a business plan I feel it will enable me to keep track of my business. The plan clearly sets out the objectives that I will constantly look at and compare the performance to in order to find out if the business is doing as it was predicted. I believe benefits of IT have not been considered by the plan. Computers could have been used to produce the accounts resulting in saving time. Also online tax payments and the overall payments of bills by using the net. If computing had been used this would have saved me valuable time and even money. By not using this method I feel the business is at a disadvantage. But I was unable to afford a computer as I had very little capital. In order to overcome this I will most probably purchase a computer in the second or third year of trading. Overall I feel the business plan is produced accordingly taking into account the interest rates and needs of the market. The various methods used to test the viability of the business such as ratios have proved the business has potential. *** Bhavin Shah/ Unit 6/ Business Planning ...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)

    the highest level, if any attacks do take place on this system and I believe the hackers have had a success of obtaining some information then I need to make sure that I warn my customers instantly before any further financial theft or identity theft take place.

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

    4 The percentage saying yes they will play snooker/pool/arcades at the new business is 90%, 4% of the people said they may play at the business and 6% said they will not play Snooker/pool/arcades at the business. 5 The total population of is 48,000.

  1. In this assignment I am going to produce a detailed business report on a ...

    Consultative management: this is similar to the democratic, this is the management where the manager actively encourages the employees to take part in the decision making process. Tesco management style is consultative, their staffs are their assets and they depend on the skill and commitment of their people.

  2. Business Aims and Objectives.

    Sometimes businesses may wish to share knowledge or even research projects. Competitors can make the other business grow weaker and maybe close down in that area bringing in more custom to the business. Customers Customers are an important factor in a location.

  1. Apple Incorporation - Case Analysis

    are ordered before manufacturing begins so forecasted sales dictate how much should be ordered. If the sales do not occur then the orders may have been more plentiful than required and excess inventory could adversely affect the company. New innovative product may be presented to the consumer and make the

  2. There are many ways in which business can be organized

    * Formal communication going up the hierarchy. All these are associated with the two cultures and so Sainsbury can't be defined to one group. Since Human culture is a mixture of hundreds of separate culture trying to produce the best of all words. In my opinion Sainsbury's would more suite the Role culture since the formal structure

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

    The superstore was a new concept in retailing - a very large unit on the outskirts of a town, designed to provide ease of access to customers coming by car or public transport. The term superstore was first actually used when Tesco opened its store in Crawley, West Sussex in 1968.

  2. Starting a new business - marketing

    I also found that they claim to make the "perfect cup" of coffee. In the primary research (interview) I found out about the company's marketing mix (price, promotion, place and product), and also about their aims and objectives. Costa coffee's main aims and objectives are to make �10million pure profit each year.

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