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Chester zoo. A charity is an organisation that uses the profit for the public good and not for individual people

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Introduction

Task 3 Chester zoo Chester zoo was opened in 1931 and the owner was George Mottershead he opened it as a sole trader. But then in 1934 George Mottershead became a registered charity with the royal zoological society of Scotland. Liability A Liability is a debt that has to be paid that has been funded through borrowing. Sole trader A sole trader is someone who is the only owner of a business of a business. The advantage of the sole trader is: * You are your own boss and you can't be fired. * The business is small so it is easy to set up. * The wages for the employees will be low because there are few employees. * You can make your own decisions without consulting someone else. The disadvantages of a sole trader are: * The sole trader does not have anyone to share responsibilities such as you might be good at the actual job but you are not very good at handling the finances. * You will have to work long hours and you won't be able to take any holiday or days off because you run the business. * It is hard to expand the business because of the amount of capital available to you. ...read more.

Middle

motorway and the train station were the zoo is only 2 miles away so you can walk there, take a bus or take a taxi. * The cost of the site and other things as labour because it is important to have cheap land so that you can build a expensive zoo also you will need money to pay for the labour of the employees. McDonalds In 1940 McDonalds opened as a new business the company was run as a partnership between the McDonalds brothers. In 1953 the first McDonalds franchise opened. Partnership A partnership is when two or more people open up a business. The advantages of a partnership: * there is a shared responsibility which will lessen the workload of the business * Easier to raise capital because of more people. * Less pressure of time to complete work because of the workload being split. * There is someone that you can consult with in the business on decisions. The disadvantages of a partnership: * The shared responsibility because of the less time to worry about the work may not be done. * Disputes can arise on how much a partner contributes to the business. * The distribution of money can arise even though there is a deed of partnership that tells how much someone gets but if someone does not do enough work you will feel dissatisfied. ...read more.

Conclusion

sold on the stock market * No benefits from economy A private limited company has limited that the share holder only have to pay the amount that they invested in the business this means that there personal assets are protected but the money invested is gone. Location McDonalds are in the tertiary sectors this is because McDonalds distribute food the costs around McDonalds in their market as fast foods are: Fixed costs The cost of site Does the area have an availability of grants The cost of loans that they have taken out The cost of utilities such as gas, water and electricity The cost of staff with a fixed wage Start up The cost of petrol that deliver the raw material The cost of raw materials McDonalds have to choose a place with lots of people because they sell food the places that are very good for McDonalds are in shopping centers because lots of people go there to shop or somewhere near transport links such as a motorway. McDonalds needs to think about the impact of the area will there be enough customers such as people who are in cars or people not in cars. Is there easy access for the customers? Will there be opportunities for expansion and is there any competition in the area. ...read more.

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