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For P1 I will need to present my initial business idea looking at the business ownership the location and the actual business I want to set up. And I will explain what I will sell, my aims and objectives.

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Introduction

Unit 10: Starting a Small Business P1_____________________________________________________ For P1 I will need to present my initial business idea looking at the business ownership the location and the actual business I want to set up. And I will explain what I will sell, my aims and objectives. Also, I will mention my target market, and describe the reasons as to why I have chosen my location. I will purchase an existing business, because I think it is easier to be successful than if I start a new business from scratch, and I can also add some my ideas in the business, so it is better than purchasing a franchise. As this is an existing business, it will already have some customers, that means many people know about this business, and it might be established, so it does not have as greater risk. ...read more.

Middle

On the other hand, I will improve the quality of the products, and have better service in my business. So I think if I do it, my business will be a success. All businesses will set themselves aims and objectives they need to achieve. Aims are targets that they have set themselves. Objectives are how they attend to achieve the aims. There are many types of aims and objectives. Typical aims and objectives of a business are: * Making a profit. * Providing goods and services to the local or wider community. * Surviving as a business or expanding. * Maximising sales or improving the quality of a product or service. * Providing a highly competitive service. * Providing a charitable or voluntary service. * Being environmentally friendly. The aims of my business in the first year are making a profit and maximising sales or improving the quality of a product or service. ...read more.

Conclusion

The jewellery shop I set up is for most people, even they do not have much incomes, because I will make the price cheap comparatively. It is also for jewellery collectors, I will set up some activities for customers regularly. Location is very important to businesses. It can be a major factor to whether the company is a success or a failure. The location I have chosen is Wood Green. Because there is a shopping centre, so many people will go there for shopping. And the transport is very convenient, we can take tube to go there, also, we can take buses. The population around Wood Green is 107034 which are pretty large. These are the reasons as to why I have chosen my location. Also, there are not many jewellery shops in Wood Green. This is where I have chosen to locate my business because this is a big shopping city here, it has many customers, it has quite high population, and the transport is convenient. ...read more.

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