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

For my GCSE business studies coursework I am going to create a business. The name of my business will be "paradise palace" as I am creating a beauty and tanning salon

Extracts from this document...

Introduction

Business coursework introduction For my GCSE business studies coursework I am going to create a business. The name of my business will be "paradise palace" as I am creating a beauty and tanning salon. There are two types of business organisations that I could create they are sole trader and partnership. The first type of business organisation tat I could choose is sole trader. This is a person who trades by himself/herself without the use of a company structure or partners and bears alone full responsibility for the actions of the business. Also a Sole proprietorship is a business, which legally has no separate existence from its owner. Hence, the limitations of liability enjoyed by a corporation do not apply. As a result, the owners are personally liable for the firm's debts, and may have to pay them out of their own pocket. This is called unlimited liability. Unlimited liability is where owners are personally liable fro all debts. It is a "sole" proprietor in the sense that the owner has no partners. In some jurisdictions a business owned by a husband and wife jointly can still be considered a sole proprietorship, in others it would be considered a type of partnership. ...read more.

Middle

4. A partnership, like a sole trader, has unlimited liability. Owners are personally liable for all business debts. The business organisation that I have decided to use for my business organisation, which will be a beauty and tanning salon, is sole trader. This is because the business will be quite which will mean it will be easier to set up than a partnership which will have to be bigger as the profit needs to be distributed between two people. Less capital needs to be invested in the initial staring cost of the business, which will also mean the starting up, will be much easier than a partnership. Additionally, the wage bill will be low as few employees will be needed which will be ideal for a beauty salon, as only few employees are needed. It is easier to keep a direct daily involvement in the business. Overall, a sole trader is ideal for a beauty salon as beauty salons are normally small, and only require few employees. Also many may not make a massive amount of profit as they are only small this is why a sole trader is more Ideal than a partnership as a partnership would mean distributing the profit between two people. ...read more.

Conclusion

I will do both secondary research (desk) and primary research (field). I am carrying out market research because it will provide the business with important information such as to assess the competition (what products/treatments selling, what prices and if they are offering and promotions), To find out what is selling well, to discover what price to sell product/ treatment at, to find out sales figures are like for products/ treatments, Find out needs/ wants of consumers. Where would they like to buy product/ treatment, identify groups with similar needs and wants, to find out how consumers will react to new ideas and products, how much they are willing to pay, what promotions would attract the customer. I will gather my information by doing questionnaires and ask the general public questions related to the business, look at annual reports and sales records, use the internet to research other similar businesses and potential competitors, and use the yellow pages. The topics that I will be covering within my coursework are marketing and business organisations. Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to satisfy customers. Business organisations are a commercial or industrial enterprise and the people who constitute it. Examples include sole trader and partnership. ?? ?? ?? ?? Laura Jones Mrs Carr business studies 1 ...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

    Audio Advertisements would be publicly broadcasted but only via sound. Such methods would exist in a medium such as radio which of course people only listen to. Errol would need only the suitable media that would help promote his business to the right people in the right area at the right time.

  2. tesco aims and objectives

    How successful have Tesco been in meeting their aims and objectives. Tesco have obviously been very successful in meeting their aims and objectives and making a huge profit of �2.2 billion this shows Tesco have been running their stores efficiently and satisfying their customer's needs.

  1. Boots Coursework

    Boots being a public limited has its advantages, for example they have limited liability, they have easy access to finance, more funds available for investment, and they can use the publicity to give them status. As well as these advantages, being a public limited has its disadvantages.

  2. In this section I will explain every one the different types of business ownership. ...

    If Chester Zoo was a business they would need to make a sustainable profit, if they didn't, many of their shareholders will sell their shares off, leaving the zoo with huge financial problem let alone the wages for staff at the zoo and food/medication for the animals.

  1. IGCSE Businesses Studies Revision Notes

    'Breaking bulk' happening Producer --> Agent --> Wholesaler --> Retailer --> Consumer Promotion (Advertising, sales, point of sales, public relations) has several aims: Creating a brand image Introducing new products to the market Competing with competitors' products Improving company's image Increasing sales Informing people about particular issues (*often used by the government*)

  2. Tesco Research

    them of the share price and the new plans that directors have come up with. Telephones Telephone has become the major way of communication where by a big percentage of individuals have mobile phones and might prefer being informed directly on mobile phones.

  1. Business Studies

    wages - ensure equal employment opportunities to all workers > Society expects that the business will have a responsible attitude towards the community Responsibility to external stakeholders: > Laws that control the businesses behaviour towards their stake holders > Each level of govt.

  2. Assignment to investigate two types of business organisations - Sole traders and partnerships.

    * The finances are kept private (excluding information for tax purposes). * Division of labour means partners can specialise in what there best at. The disadvantages of a partnership are: * The partnership has unlimited liability. * The partnership has a lack of continuity, e.g.

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