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

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Introduction

Business Coursework 1. The business I am going to set up is a snooker club, which will be situated in Batley. This project was set by Paula Husbands as part of our A level Business Studies coursework; I will use many research methods to observe business objectives and analyse the feasibility of the project. 1.1 Primary Objective The overall aim of the project is to analyse the feasibility of starting up a business project. 1.2 Secondary Objectives These are the activities I will undertake to complete the Business plan. They are, * Examine, what type of market the business operates in, and build a questionnaire relating to the consumers, analyse them and then make a decision on what they tell you. * Identify competitors of the business, and analyse references to the business such as local, regional, national competition. * Identify key locations within the area and comment upon the features for when deciding a location. * Identify, a list of the suppliers for my business; also comment upon the timing and quality levels of the products. * List all the physical, human and financial resources and comment on them. * Create a sales budget, which involves the prediction of the sales and average price of the businesses product. * Create a Cash Flow Forecast, to get a brief idea on the inflows and outflows and the overall bank balance of the business for a period of time. * Project a profit and loss account which is a prediction of the sales revenue and the revenue expenditure of my business, it also identifies if the business is predicted to be in profit or loss at the end of the year. *?Analyse the profit and loss account and the balance sheet by looking at return on capital employed. *?Examine, the long and short-term financial needs for my business. *?Examine the different types of ownerships and select a type of ownership for my business. *?Analyse, each areas of, SWOT and PEST analysis for my business. ...read more.

Middle

Importance of quality at Stoney's Quality in every area is essential for my business; poor quality can lead to loss of customers to rival businesses. Poor quality will increase costs because returned products will have to be repaired or thrown away, this will increase costs and lower profits. 4.3 Resources needed 4.3.1 Physical Resources Here I have listed all the physical resources I will need for my business, 1 Snooker/Pool Tables 2 Snooker/Pool lights 3 Bar Stools 4 Fixtures and fittings 5 Property 6 Till 4.3.2 Human Resources At Stoney's I will require three employees, I will require two employees to make the food and one employee who will have a part time cleaning job, for this I will have recruit the staff. I have constructed job descriptions stating the specifications required from employees, after this I will advertise through different mediums. Job title: snooker centre Chef Function Prepare food for customers, must know how to make burgers and pizzas. Employees must be familiar and comply with food and hygiene policies at all times. Employees must provide high standards of service at all times. Other functions include performing company duties. Pay and expenses Salary will be �11,000 per annum Food will be free for all employees Work time Days are hours will vary according to the company requirements. Job Title: Snooker centre cleaner (part-time) Function Cleaning snooker centre and toilets Pay �5.50 per hour Work time From 10 am till 12pm 7 days a week I will have to advertise the jobs so the public know there is a vacancy, I will advertise through many ways, they are * Local or National newspapers * Specialist Magazines * Journals * Internet * Supermarket boards or Shop windows Another method of job advertising is through the job centre, which is a centre run by the government. After going through the advertisement the applicant will have to phone my business, and the applicant will be told to send me a CV, a short document giving information about the person and information on any previous job experiences. ...read more.

Conclusion

This means that if the company goes into debt then the owners are not responsible. 1 Private limited companies (ltd) - is the smaller of the two types of limited company. The shares it issues cannot be advertised or traded on the stock market. Any transfer of shares must be done privately. Many Private limited companies are family firms, the company has friends and relatives who run the business. 2 Public limited company (plc) - is for much larger businesses. The company must have at least �50,000 of share capital; in a plc the shares are traded and advertised on the stock market. Below I have stated all the advantages and disadvantage of types of ownership Type of ownership Advantages Disadvantages Sole trader ==>? Easy to set up the business. ==>? Complete control over the business. ==>? Keep all the profit. ==>? Personal service ==>? Privacy. ==>? Unlimited liability ==>? Shortage of finance ==>? Pressure of responsibility. ==>? Lack of expertise (knowledge) ==>?? Lack of continuity. ==>?? Shortage of capital. Partnership ==>? Extra financial capital ==>? Additional skills ==>? Shared workload ==>? Unlimited liability ==>? Shared profit ==>??can lead toDisagreements??????????? Private limited company (plc) ==>? Limited liability ==>? Sources of finance ==>? continuity ==>? legal requirements ==>? loss of privacy ==>? limited growth Public limited company (ltd) ==>? Sources of finance can be raised easily. ==>? Credibility ==>? Expansion ==>? Increased costs ==>? Size ==>? Loss of control. The type of ownership I have chosen for the business is a Soletrader . This is because i can keep all the profits, and also i can have complete control over the business, i will be able to make all my decisions, another advantage is that i can raise the extra capital i need from family and friend, consequently i wont have to pay interest on the borrowed money. SWOT AND PEST PEST Political and legal Economic Social Technological ...read more.

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