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My business will sell gym/combat sports equipmentBefore I start my business I will need to choose my businesses smart objectives, it is crucial for a business to have these SMART objectives.

Extracts from this document...

Introduction

GCSE Business studies coursework Sangha Sports Part one Aims and objectives The aims of a business are when a specific company wants to achieve after the business has been set up and is making profit. The objectives are how the business will reach its aims and targets after the actual business has been set up. Businesses set up objectives so they can evaluate how their business is doing in their market, also they can see if they are making profits etc. The most important aim of my business will be to survive the first year because I have many competitors in this market. My second aim will be to make sure all my customers are happy with the products my business will offer them; I will ensure good quality goods. Before I start my business I will need to choose my businesses smart objectives, it is crucial for a business to have these SMART objectives. SMART stands for S-pecific M-easurable A-chieveable R-ealistic T-ime bound My proposed SMART objectives are going to be: S- My business will sell gym/combat sports equipment M- To double the total profits I made the first year in the second year A- I will want my profits to increase at least 1% every month R- I want to be employ staff with good sales skills, also I want a suitable supplier who will meet the deadlines for the supplies I need. T- These wills be achieved just before a year of the business being formed These are my SMART objectives for my planning process: S- I will set up and get my sports equipment shop up and running M- I will have my company set up within 1-4 months so the company can meet my profit goals A- I will ensure my supplies meet the customers' needs so I can get maximum profit and satisfy the customers R- I will keep my staff to be close friends/ family so that they are reliable and meet my needs, however other ...read more.

Middle

I have concluded that the least appropriate type of ownership for my sports business is being a Sole trader mainly because my business will be a fairly large business and I will need help in getting the business started up e.g. I will need help with the starting costs of the business and getting it up and running, I wont be able to take as many holidays as I wanted etc. After considering the different business types I was left with a Partnership and a Private Limited Company. This is because both these types of businesses match my business requirements e.g. having more than one person working in the business, being easy and affordable to set up the business. Type of ownership I have chosen After looking at all the different types of ownership I have finally chosen a partnership for my sports business. I have chosen this type of ownership mainly because there is shared responsibility so I won't be making difficult decisions on my own and will have opinions of all the other partners in the business to expand. Also I have chosen this type of ownership because my partners can be specialized in areas of the business e.g. one of my partners can be specialized in working in the actual shop and selling goods on the other hand the other partner could be looking after financial problems and may not actually be in the shop retailing goods. Also if I was running the business alone I would be able to afford the business set up costs on my own. With the contribution of my partners I can get the business up and running. For my final conclusion about my type of ownership I researched all the types of ownership and found a partnership the most convenient. Other types of ownership I looked at all the different types of ownership carefully and considered many factors both positive and negative when choosing my business ownership. ...read more.

Conclusion

Product Tick Clothing Boots, trainers Accessories Other( please state in the tick box) 5) What is you favorite brand for clothing, boots and trainers, and accessories you may tick more then one. If you tick other please tell us the brand. Nike..... Everlast.... Adidas.... Reebok... Puma...... Other............................................................... Lionsdale... (Please tell us the brand 1) Are you a Male or a Female? Please tick one option Male..... Female..... 2) What age range are you between? Please tick one of the options Age Tick 5-10 11-20 21-30 30+ 3) What is your favorite sport? Please tick other if the sport you have chosen is not there Sport Tick Football Rugby Boxing Other (please state sport in the tick box provided) 4) What time of product are you most likely to buy from a sports shop? You may tick more then one box. Product Tick Clothing Boots, trainers Accessories Other( please state in the tick box) 5) What is you favorite brand for clothing, boots and trainers, and accessories you may tick more then one. If you tick other please tell us the brand. Nike..... Everlast.... Adidas.... Reebok... Puma...... Other............................................................... Lionsdale... (Please tell us the brand 1) Are you a Male or a Female? Please tick one option Male..... Female..... 2) What age range are you between? Please tick one of the options Age Tick 5-10 11-20 21-30 30+ 3) What is your favorite sport? Please tick other if the sport you have chosen is not there Sport Tick Football Rugby Boxing Other (please state sport in the tick box provided) 4) What time of product are you most likely to buy from a sports shop? You may tick more then one box. Product Tick Clothing Boots, trainers Accessories Other( please state in the tick box) 5) What is you favorite brand for clothing, boots and trainers, and accessories you may tick more then one. If you tick other please tell us the brand. Nike..... Everlast.... Adidas.... Reebok... Puma...... Other............................................................... Lionsdale... (Please tell us the brand ...read more.

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