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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

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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.


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.


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.

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