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Setting up a business

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Introduction

Setting Up a Business Introduction The business I am starting up is a pizza take away business it will be called 'Plant Pizza'. I have decided to become a sole trader. I chose to be a sole trader because I have unlimited liability, I will have complete control of the business and I will be totally responsible for its success or its failure. It is also simple and inexpensive to set up my business as a sole trader. I get to keep all the profits, although I realise I must save enough money to pay taxes, VAT, and interest on loans. Some of the losses made in my first year may be offset, or balanced against money I have paid earlier in the same financial year towards tax. Also if one part of my business is not profitable I can quickly change to something else profitable. Some of the disadvantages of being a sole trader are because I have unlimited liability I will be responsible for everything including any debts to may occur. There is a very high risk of my business being a failure as there may be and usually is great competition from other business in the area. It will be difficult to raise capital, but now days the government does make this easier. Because I am a sole trader I am by my self so I can only do a limited amount of work which will slow down the growth of my business. ...read more.

Middle

I am also aware that I have to decide on what measures I will take to protect the environment. I will sell drinks in aluminium cans instead of polystyrene or plastic cups because they are not bio-degradable and if burnt release poisonous gasses which harm the environment, also not to use glass bottles because they are dangerous and if shatter can cause a danger to children and to tyres. I will also place litter bins in and outside the shop to prevent litter around the local area, I will also make sure staff collect rubbish as part of their job to help clean up the environment. Market Research I have enclosed a questionnaire which I used to obtain data about what prospective customers like and dislike, where they are most likely to see adverts. The advantages of displaying my results in a table are that I can give accurate results and figures but tables can sometimes be hard and unattractive to read unlike pie-charts or bar-charts. Using pie or bar-charts which are colourful attract the customer's attention to the information, but sometimes the information on pie and bar-charts don't have the accurate information unlike tables. Methods available for advertising London Bus: The advantage of advertising on a London bus is that it will be seen by a lot of people and the offer for advertising on the back of a bus is really good, for �945 you can advertise on the back of one bus for 4 months which is not expensive for the amount of times your advertisement will be seen. ...read more.

Conclusion

The flyers are good because people are in a hurry at the train station so if they can grab a leaflet and then carry on with their journey they won't get in too much bother and handing out a leaflet flyer takes about a second for someone to take so we won't be taking up their time. The reason I chose two buses is because my business is based at Victoria station and if I put the adverts on the back of two buses that terminate at Victoria, hundreds of people who are passing through the station will see the adverts on the back of the bus and also people who are getting on the bus to go to Victoria will see it and know they can grab a bite to eat on there way home or to work. So all three advertising choices I made are good for my business and they are all within my budget. I have not had to take some types of the advertising off because of the m money problem because I had �5000 to spend and in the end after I chose the three advertising methods I was left with �280, this is fine, because I can save this money and use it along with other money I make to carry on advertising after the current advertising contracts expire. So overall I think I made good decisions for the future of my business. ...read more.

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