• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Evaluate the issues that need to be considered when starting a business

Extracts from this document...

Introduction

D1 Unit 16: Business Enterprise Red Group 11A/Eb1 Asid Ashraf 11L Assignment 7 (D1) Scenario: Although I am still at school I have had a really good business idea. I now need to investigate all aspects of setting up a small business. All the tasks in this module relate to this same scenario. Task 9: Evaluate the issues that need to be considered when starting a business. You should assume that you are advising other members of the group about setting up a business. You should present an objective evaluation of all the aspects that you have learned about that should be considered if they were to start up and run a business. You should ensure that you include the strengths and weaknesses of all relevant aspects and explain these- for example the benefits of using one source of finance over another of the suitability of using a particular method of promotion in a certain circumstance. Ownership: I have decided that the ownership for my business A?s Ice Cream Parlour Shop is partnership. This is because I will need specialist staff to be working in the shop, they will need to be specialised in certain aspects such as manufacturing, finance and production. ...read more.

Middle

Small Tubs for £1.50, Medium Tubs for £2.00 and Large Tubs for £3.00. The prices above will be same for all types of flavours. Product: relates to both goods and services. Branding awareness, brand leader and brand loyalty. My company offers a wide range of different flavoured ice creams sold in a tub for example chocolate, strawberry, mint chocolate chip, vanilla, banana, toffee, cookies & cream, chocolate & nut and raspberry ripple. We offer a fantastic customer service and ice cream. The USP of my business is that I offer a high quality product to my customers and offer lower prices than any other parlour shops. No I only have one ice cream parlour which is located in Princes Risborough. However I do offer a range of different products which are different types of flavoured ice creams chocolate, strawberry, mint chocolate chip, vanilla, banana, toffee, cookies & cream, chocolate & nut and raspberry ripple. I am going to package my ice cream by using use the following for example ice cream tubs, handheld multipacks and handheld single. There will be colourful packaging to appeal the customers. Place: the location and availability of a product or service and the method by which it is distributed to customers. ...read more.

Conclusion

gas, water, electricity rent and business rates and insurance. Also to pay an interest on a loan that I have borrowed from a bank. Every month I will be paying £1,817.70 wages to my staff. In addition the utility bills for all months are £250. Other running costs remain same for the first 3 months which is £30 and then for the next three months it was reduced to £25. The loan that I have borrowed is £2000 and I have to pay an interest rate which goes up to £2,361.49 Sources of advice: I have identified appropriate sources of information and advice which is from professional advisers such as accountants and a financial adviser they can help my business with the financial side of it. Also I have chosen lawyers and solicitors who can help me with the legal implications of setting up the business and as well as the legal requirements. Business plan: This should include the following: Front cover: Introduction including the name and location of your company Business ownership Mission statement of my business Aims and objectives of the company Outline of my product or service and how I will operate Marketing and sales- to see how I am going to promote my product Style of the of company is also essential for any business which is most definitely required. ...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. Tesco Research

    121 Expected total portfolio at March 2005 154 111 373 362 735 Manipulation: Giving the pie chart and bar chart the same background is another way to present information to look beautiful, and attractive. In this case the information looks accurate and professional.

  2. English for business

    ? Try this quiz with a partner. 1.Which is the best definition of good conversationalist? a.Someone who always has plenty to say. b.Someone who has plenty of amusing stories to tell. c.Someone who will listen carefully to what you have to say. d.None of them ( give your own definition. ) 2. If someone just says "what?"

  1. tesco aims and objectives

    So instead they can go to Tesco and find everything that they need, all under one roof. Since Tesco diversified their store and started selling non-food products, their non-food's market share has gone up by 5%. This year they have attained a 16% share of chart music sales and their

  2. Applied Business Unit 1

    They decided to merge with associated dairies another West Yorkshire based company and they started to sell dairy products and meat. In 1950s Asda decided to become an Ltd (Private Limited Company) the reason was because they wanted to expand, have limited liability for assurance and sell shares privately to family and friends to raise additional capital.

  1. Business Studies

    the cheapest provider Product Quality: - Use a slogan or logo to promote quality Service differentiation: > Variety of strategies include after sales service - develop strong brand loyalty The marketing mix Product: > Offers consumers tangible and intangible benefits - Tangible (physical attributes)

  2. Business studies - Business Plan

    Without family to support me in times of difficulty I will have server problems and no one to help me though. I cope well under stress. Yes This is important as in any business there are times where work inevitably piles up and there is a lot expected from you.

  1. Business Plan. After putting a lot of thought into what kind of business we ...

    The company may sell more than this target amount but to be on the safe side it is better to target ourselves less than to target more. The business thinks that selling 48 milkshakes a day is an achievable target as it isn't a large amount and the more popular the business gets the higher the market volume will grow.

  2. Grievance and Discipline procedure- relate to Alton towers

    This will be an advantage to the employee because the managers at Alton Towers will be more willing to take note of the offence as the employee will have more support and so it will be harder to ignore the problem.

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