• 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
  29. 29
    29
  30. 30
    30
  31. 31
    31
  32. 32
    32
  33. 33
    33
  34. 34
    34
  35. 35
    35
  36. 36
    36
  37. 37
    37
  38. 38
    38

Business studies - Business Plan

Extracts from this document...

Introduction

Contents Introduction - Page 2 Planning Self-Assessment - Page 3 Skills and Talents - Page 6 Brainstorming - Page 8 Gaps in the Market - Page 10 Decision Time - Page 13 Findings Customers/Market Research - Page 15 Personnel - Page 23 Marketing - Page 25 Production - Page 30 Finance - Page 33 Evaluation - Page 36 Bibliography - Page 38 Introduction In this report I will be looking at all the needed sections in order to start up my business. I will begin with a self assessment of myself; this is in order to see if I have the needed skills in which to run a business and if I am capable to do so. I will then be looking at my skills and talents and how they help me in the running of my business and dealing with my customers. I will be making some brainstorm diagrams to give myself an idea of then type of business I would like to run and I shall also be looking at the advantages of my ideas. The final sections in my planning are looking at the gaps in the market, I will do this to see if there is a need for a one my business ideas in the city I wish to set up, I will also be able to see how much completion I would with each of the business ideas. After that is the decision time, I will be looking at all of my previous sections and using them I will decide the most suitable business for myself to start up, I shall list the reason I have chosen said business as well. After deciding my business I will be looking at who my potions customers are and the market I shall be looking to sell to, this is needed as it allows my to be specific as towards who my target market will be. ...read more.

Middle

This question will help to find out which sauce people most prefer so I know which to use and which to avoid since they are not as popular with the population. 3. What toppings do you prefer on a Hotdog? I need to know what kind of toppings if any people like on their hotdogs as by adding extras to my product will hopefully help me to sell more as they contain the topping which people enjoy the most. 4. How many times a week do you eat a Hotdog? This question will help me get an idea of how much people eat hotdogs every week, the more that do the better my business should be so by knowing this I could get a vague idea of how much business I could be doing. 5. How much would you be willing to pay for a Hotdog? This question will help to set a price that everyone would be willing to pay so I can ensure that my price is not too high which could discourage people from buying from me. 6. When you look for fast food does advertising affect your choice? I need to know if advertising affects people choice when they deicide to buy fast food, if it is I know to spend more money on it so as to get more business if not then I will not spend as much on advertising as it is not needed because it does not affect part of the population. Here are the results from question 1 from my questionnaire we can see everyone asked like hotdogs, this is good as now I know I have a market to sell my product too. This shows what sauce people prefer on their hotdog, the most popular being ketchup 56% and mustard 30% I now know to start of with these two and then if needed bring in a larger variety but to keeps costs down I will go with the favorite two. ...read more.

Conclusion

The advantages of that would be that I am able to focus on paper work and other matter and know that my business is being run; before I can do any of this though I must be sure I am able to bring in enough customers to cover all the costs I will have. One possible way for me to obtain a sum of money in order to expand, would be to become a partnership. If I were to do so I can then rotate shifts between me and my partner giving me much more free time but I would have to split the costs with them. There are of course factors which I am unable to control which may prevent my plans, one being the weather. On a day when it rains I have only a few customers if the rain persists throughout the day, this leads in to a very low income for that day. Laws passed by the government can also cause a problem when I wish to expand, laws may be put in place which could result in me having to spend more money to be sure my business meet the requirements set by the government. These things however are out of my control, where as I can control who my employees are and the way in which they behave with the customer. It is important that any employees are courteous to try and entice the customer to return to continually buy my product. From all of this I have learned that if I want to peruse this business I must be willing to put in long hours of work in order to reach my goals, the result has been that I am not only making a profit which most starting business do not tend to do, I am also able to repay my loan from the bank. If business keeps going the way in which it has it is highly likely my business will survive. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity 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 GCSE Business, Companies and Organisation, Activity essays

  1. Business Studies Edexcel Coursework

    http://www.yell.com Newspapers/Magazines Newspaper offer advertising at various degrees; big companies usually advertise their products or services on the first few pages underneath the main stories - this has proved to be a very effective way to catch attention. Usually, the back of the newspaper (last few pages)

  2. IGCSE Businesses Studies Revision Notes

    tariffs - Taxes on imported products Import quota - Physical limit to the quantity of a product that can be imported Appreciation - Exchange rate increases, importing cheaper, exports expensive Depreciation - Exchange rate decreases, importing expensive, exports cheaper Higher interest rates in a country would encourage foreign banks and

  1. Aims & Objectives

    The way that the animals are dealt with and how they are transported to other zoos around the world is respectable. These animals are exchanged because they are of good use to other zoos, e.g. male tiger Taj was sent to another zoo because that other zoo had a female

  2. Tesco Research

    22 June DRIP final dividend: Plan shares purchased for participants 27 May Final dividend: Record date (FY 2004/05) 25 May Final dividend: Ex-dividend date (FY 2004/05) 18 May Preliminary Results Announcement (FY 2004/05) 5 April Interest payments: �250m 6.125% Notes due 2017 5 April Interest payments: �350m 6.00% Notes due

  1. tesco aims and objectives

    this diversification procedure that Tesco underwent attracted new customers as well as helped to retain old ones, which is Tesco central aim. They were so successful in this field that 30% of last year profit came from non-food. Tesco also sells more baby clothes than Mother Care; DVD sales also went up by 60% in 2004.

  2. Environment factors affecting business. An organizations environment is composed of numerous factors:

    The organization's suppliers The organization also needs to maintain an effective relationship with its suppliers. This may be particularly so where the supplier controls the raw materials source, or is the unquestionable leader on quality. An organization will need to assess the competitive position amongst suppliers and also relative power positions between supplier and user organizations.

  1. Aims & Objectives of a Business - comparing the NHS with McDonalds

    That it met the needs of everyone, 2. That it be free at the point of delivery, 3. That it be based on clinical need, not ability to pay. However, in July 2000, a full-scale modernisation programme was launched and new principles added.

  2. Business Studies- Unit 1- Business Ownership

    type of business do not float on the stock market therefore cannot be traded on the stock exchange. The obvious advantage of a Private Limited Liability Company is the financial security that comes with business. The Company?s shareholders will only be liable for any debt the company has got from capital invested in the business.

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