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SIVAS ENTERPRISES - SPECIALIST IN SRILANKAN AND ASIAN FOODS

Extracts from this document...

Introduction

Setting Up In Business INTRODUCTION For my portfolio, I was asked to set up a business on my own and I need to investigate about the business so I thought to do on a newsagent with a grocery stores. This assignment was issued on 2 February 2004 and was due on 26 April 2004. Task 1 A SIVAS ENTERPRISES SPECIALIST IN SRILANKAN AND ASIAN FOODS I have decided to open a newsagent with a grocery and off licence in High Street South, because I can work flexibly and I don't like to work under someone. I have chosen this location because it is near to my home and I am already familiar with the place and it is highly populated area of minority race of Asians.There are also fewer competitors when compared to high street north. The products I have decided to sell in my shop are chocolates such as Mars, Snickers and Milk Way etc, crisps such as Walkers, Mc Coy and Doritos etc, drinks such as Coco-Cola, Pepsi, Ribena and Rubicon etc and groceries items such as breads, eggs, baked beans, rice, fish, and Srilankan foods such as mixtures, cardiac, ginger, onion, pickles, sambal and potatoes etc, frozen foods such as fish, paratos, dosa, pori et. I will also sell newspapers such as News of World, the sun etc, and fresh vegetables such as bringal, carrot, cauliflower etc. In High Street South there are few shops. The main activities of the business are to provide retail services I will need to purchase some stock from the cash and carry and the wholesaler. I need to have the shop fitted and I thought I would buy a shop and mortgage it and apply grants from the government. I may expand the business after one year by selling telephone cards, national lottery and travel cards. Task 1 b Unemployment I do not have a job at present so I think to set up my business so I can have a work of some ...read more.

Middle

Task 6 In order to set up my business I need resources such as premises, van, equipment, fixtures and fitting and general staff. Premises When I set up a business I need a premises to sell the product directly to the customers so I thought to buy a shop in East Ham high street within area size of 1500-2500 sq feet. Van I need a van to purchase the product from cash and carry and to deliver products to the customers when they purchase more than �50 so I thought to buy a Mercedes van to carry goods from cash and carry and supply to the customers. Equipments I need equipments such as refrigerator, large cool fridge tills and microwave to heat the foods for the customers. * Freezer - I want to buy a freezer to keep the ice cream frozen and to ensure that it does not melt. * Refrigerator - I want to buy a refrigerator to keep the beers cool and separated from the ice-cream and the other frozen foods. * Large cool fridge - I want to buy a large cool fridge in order to keep milk, cheese, cool drinks, yoghurts and sandwiches cool and fresh. * Tills - I need to buy tills to account for the goods sold to customers. * Microwave - to keep the food warm and ready for my customers when they come and buy. * CCTV Cameras - I need to buy and fix CCTV Cameras in order to monitor the premises in my absence and I can be used in case of theft as a proof. * Fax machine - I need to buy a fax machine in order to send message to the suppliers or to receive the messages (delivering goods to their house at what time and what are they product they wanted) from potential customers Fixture and fitting I need to make fitting like shelves in order to keep the products such as different shelves to keep breads, egg and newspaper and house holds items and groceries. ...read more.

Conclusion

In mint platinum credit card I can apply from �15000 - �50000, which interest rate is 10.9 and in my Barclay card I apply for a maximum of �15000, which interest rate, is 17.4. In credit cards I need to pay the minimum amount they usually used to send us to pay but I can pay as much as I like but I cannot pay less than the amount they send us to pay. I can clear the credit card anytime or just pay the minimum amount of 2% of the outstanding balance and it has an advantage that I can borrow the money at any time and I need to pay the minimum amount after using the card. I think to mortgage my shop at Halifax (refer to appendix 11 of page 59) because Halifax provide the cheapest interest rate with a maximum (97%) amount when compared to Nat west other banks and I thought to apply loan at northern rock(refer to appendix 11 of page 58) because it provide cheapest interest rate (6.5) and an maximum of �25,000. if I am short of finances I will use my credit card and I will the minimum payment and I can clear the full payment if my business became successful I can pay the full amounts if I make more profit. I think to apply for regional select allowance from the government and I expect to receive 10-15% grant because at present I am unemployed and I am receiving jobseeker allowances. I came to through my friend that local council supporting small business with 15% grant of regional select allowances and he said that he would help me in terms of finance if I need it. I think to ask my local council to do not charge business rates for the first 6 month in order to establish myself in local market. I My family promised to help me by lending �10,000 when I start up my business. ...read more.

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