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My Chosen Business

Extracts from this document...

Introduction

The business that I have decided to open in Cheadle Village is a game shop, I have chosen this business out of the other swot analysis because I believe that this will be the most successful, as the idea is unique i.e. there is no other game shop in Cheadle village. I rejected the other business from the swot analysis because: Sportswear Outlet There are already a couple of shops in the village which specialise in footwear or cloths, although not sportswear, these other outlets would probably have caused competition as consumers would have had to make a choice. Also I stated in my s.w.o.t analysis the proportion of young children in Cheadle is lower than I expected, and as sportswear usually appeals more to young children the business wouldn't have a very big chance of success especially if it was financed using a loan or if there are other fixed costs to pay such as electricity bills etc. The products that are sold in my retail outlet will mostly be associated with home entertainment, mainly games and other complimentary goods associated with consoles such as game pads etc. For my business I could use the following methods to help give my products a successful yet profitable price. > Cost- plus pricing is the simplest method for deciding the price of a product: Unit cost + overheads + profit margin = Selling price In theory a firm can never go bankrupt, but in the real world a business can get bankrupt; if sales decline, if another firm undercuts the firm's price or if workers go on strike for higher wages etc. ...read more.

Middle

500 5 30 35 50 15000 600 5 36 41 60 19000 700 5 42 47 70 23000 800 5 48 53 80 27000 900 5 54 59 90 31000 1000 5 60 65 100 35000 I have designed 2 adverts; one, which is in a 'shop window' format and the other, is in a 'newspaper recruitment' format. I have done this because on each format; different amount of text and types of information is required. For example on my shop window advert I wont have very detailed information, this is because when people go past the shop(s) they wont want to read a vast amount of text, instead they will want something which is easy to read and easy to understand. Whereas people browsing through a recruitment section in the newspaper will probably expect to read adverts that go into detail such as wages, hours responsibilities etc. there are two types of advertisements; person description and job description. The person description goes into detail about what kind of person the employer wants for the job; personality, educational attainments; skills etc. Whilst a job description is an advert that is about the kind of job available, specific duties, responsibilities involved, location of work, hours of work, working conditions etc. My first advert, for a shop window is a job description as it only tells the reader what it is advertising (job as part time staff at a Game shop) whereas my second advert is a mixture of a job/person description, I know this because I advertise the educational skills required as well as location of the job etc. ...read more.

Conclusion

* I discussed all the health and safety points for my business, as well as the types of insurances I would be taking out. * I designed a plan of the internal layout for my shop (paying due attention to security). This was so I could make sure the layout was correct before starting the actual fitting of the shop, this would help me save money and time if anything was wrong with the layout of the shop. I also designed a map to show the location of the business, along with a poster advertising my business outlet; I did this using the internet. During the course I made as much use of ICT wherever possible, in my opinion this was very helpful because ICT could also be used in business to help it run more efficiently and professionally. I used the internet to research information about Cheadle, I word processed the whole coursework and presented data on graphs and in tables. I don't think there is anything I would do different if I was to go back and do the coursework again because I tried very hard on the coursework and spent a lot of time and effort when it came to decision making. To improve the accuracy of the coursework I might have made another visit to the village to ask shoppers and residents of their opinions of my choice of business. After doing the coursework I have realised how hard it is to open a business in real life but due to the experience I have gained from this course, I think that if I ever wanted to open a business, I might just be able to manage it! ...read more.

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