We the partners will run the business together. The name of the business will be The Broadway Caf. The business location will be based in Greenford Broadway, Greenford.The caf shop, which we are going to set up, will not be an Intern

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Business Planning

The business I chose to do is a coffee shop. The business will be a partnership type of ownership. We will be three partners. The name of the partners is Shekib Farooqy, Sandeep Singh and Mukarram Ali and all partners will have an equal share in the investment, profits and all the partners will have equal say in the business. We the partners will run the business together. The name of the business will be The Broadway Café. The business location will be based in Greenford Broadway, Greenford.

The café shop, which we are going to set up, will not be an Internet café. It will be a breakfast and lunch café.

Objectives of the business

       Objectives        

  1. To provide the best possible quality of service and food in the cafe.
  2. To create good sales that can at least cover our costs for the first year
  1. To gain market share and to be competitive enough to stay in the market.
  1. To gain customer loyalty.

Future objectives

  1. To increase sales that leads us with good profit.
  1. To expand the range of food and maximise the number of customers possible.
  1. To focus on our expenses and trying to minimise the costs continuously.

To set up a partnership, I and my business partners will need to draw and agree with a legal document called Deed of Partnership. It will be regulated by the Partnership Act 1980 which abide partners to operate according to the terms of agreement. The Deed of Partnership will set out any terms and conditions relating all partners’ rights and obligations in the business. If a dispute occurs between the partners than these terms would be reorganised in a court of law.

The factors that can affect the demand of our products will be based on consumer’s price of the product, taste and income.

Taste/Preferences

This refers to what consumers prefer and what is in fashion at the time of the launch of the product/service.  In London many people live busy lives and hardly have time to cook – therefore it is fashionable to eat out.  

A change in the tastes and preferences of consumers would cause an actual shift in demand, and not a mere movement along the curve. 

Income

Income is also a very vital factor for business in order to predict demand for their products and service for future. If the income of the consumers increases it means that they have more disposable income to spend on necessities and luxuries.  Our product is neither a luxury nor necessity but rather encourages people to socialise over a cup of coffee.   In this situation the demand for the businesses products and services can increase and the demand curve will shift upwards. But if the income of the consumer decreases, for example if taxes go up or unemployment increases this leads to consumers having less money to spend which means that the demand for the businesses products services will decrease and the demand curve will shift downwards.

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Price of the product

Price of a commodity is one of the main factors that affect the demand of a particular product. Setting high prices on the products that we are selling such as sandwiches, breakfasts, Lunch, dinner, cold and hot drinks will affect the demand of our products. The reason to why prices of our products can affect our demand is the products that we are selling are widely and easily available at various prices everywhere. Therefore it is very important for businesses like us to choose the right prices that increase the demand for our provided ...

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