• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16

The business plan

Extracts from this document...

Introduction

1. Introduction This portfolio work will enable me to learn how to set up a business. And we have to do many things to set it up. And I want to set a tuck shop in the boarding house which is near the school and what I have to do is get the tuck shop started. I also have to write a business plan for it to make sure that I know what is I doing. A business plan will also allow me to minimize risks of failure; failure can be very costly to a business. I set it up because the boarders in the house always go to the supermarket in MP .If I haven't written a business plan it will be an increase in risks and decrease in success in rate. 2. My business In the school, the student will get pressure from their studies. so by having some food and drinks to let them relax.. that's why tuck shops are very popular in school even in boarding house. From the result of my questionnaires I got over 50% boarders from the boarding house said they strongly advise to open a tuck shop in the boarding house. So I become confident of the demand of the house. The man of my tuck shop called "Come On". This type of business will be sole trader. This business only owned by me and I need to face "Unlimited liability" which means I face all the business risk and has to find all the capital to start the business. ...read more.

Middle

Balance sheet displays the business assets (where money is spent) and liabilities (where the money has come from). The payment for business assets, such as the purchase of a new delivery vehicle or a new machine, are referred to as capital expenditure. There are two main ways of drawing up the balance sheet. 1. T-From Balance Sheet The balance sheet has all the assets in one column and all liabilities in another. (See Appendix 3) In this balance sheet the total value of the assets and the total value of the liabilities will be BALANCED. 2. Vertical Balance Sheet This balance sheet uses exactly the same figures as the T-form balance sheet, but organizes the data in a different way, which allows accountant s to assess the financial health of the company. (See Appendix 4) Profit And Loss Account---A profit and loss account shows all of a firm's revenues and costs over a period of time, usually one year. But I won't be sell ice cream in winter, so the profit will change. For my special case, I would like to produce a monthly profit and loss account which can be more accurate. (See Appendix 5). Breakeven Graph---It is important for any business to have a clear picture of how output and sales will affect profit or loss. In particular, it is significant to know the level of sales necessary to avoid any loss. This is called the breakeven point (the point that Turnover line cross Total Costs line) A breakeven chart is produced in a business because it shows the level of sales required to cover all the costs. ...read more.

Conclusion

3 Dislike 2 Phone Room 20 Common Room 7 Kitchen 3 Lowest price 19 High quality 4 Promotion 7 Place 0 More product type 0 APPENDIX 1 APPENDIX C Product No.of people product/week Demand Quantity Crisps 40 4 160 Drinks 40 3.5 140 Chocolate 40 3 120 Ice-cream 40 4 160 See Questionnaires Mark Product/week: the average demand quantity of this product for one person per week Demand Quantiy:the total demand of this product for the boarding house(40people) per week Product Total Quantity/week TQ/month Product types Product demand per type/month Crisps 160 640 6 107 Drinks 140 560 5 112 Chocolate 120 480 5 96 Ice-cream 160 640 3 213 APPENDIX 3 T-Form Balance Sheet � � � � Shareholder's Funds Assets: Share Captials 300 Fixed Assets Retained Profit 0 Premise 0 300 Machinery 429 429 Liabilities: Current Assets: Long term loans 500 Stock 638 Short term loans 500 Cash 233 1000 871 1300 1300 APPENDIX 4 Vertical Balance Sheet � � Assets: Fixed Assets: 429 Current Assets: Stock 638 Cash 233 871 Total Assets 1300 Liabilities: Current Liabilities: Short Term Loans 500 Working Capital 371 Total Assets Minus Current Liabilities 800 Long Term Liabilities Long Term Loans 500 Shareholders Funds: Share Capital 300 Retained Profit 0 Capital Employed 800 "Have a brake" Profit and Loss Account/Month � Turnover 977 Calculation Cost of sales (638) See Appendix A Gross Profit 339 Electricity �40/month Fixed Cost (80) Rent�1.25/day (See the copy of Email) Net Profit 259 Net Interest(payable)/receivable (100) (See the Loans interest rate table from HSBC) Profit before taxation 159 Tax (8) 5% per month Loss/Profit for final month 151 ...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 Accounting & Finance 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 Accounting & Finance essays

  1. In this assignment I am opening a tuck shop in the school grounds and ...

    Goods: - * Table * Television * Books * Computers * Games * Food * Cup * Glue sticks * Mobile, ETC Services: - * Holidays * Restaurant * Banks * Estate agent * Loans * Lawyers * Insurance Revenue is money coming into a business as a result of selling goods or services.

  2. Coke v Pepsi WACC

    For the Betas of both the companies, we will be using the average because of the drastic changes from 1994 to year 2000. For the Market Risk Premium, we will be using the Geometric mean instead of the Arithmetic mean because it is more accurate in that it is a compounded average.

  1. Comsat case

    Furthermore, Dr. Carleton's approach has been held inaccurate because of the lack of strong evidence or explanation for the rates and assumptions (i.e. the percentage of the risk premium) that he used as the base of his solution to the case.

  2. Give an explanation of break-even analysis and explain how it supports the achievement of ...

    When using break-even, a business may draw several charts using different prices to assess the impact of price changes. This approach is useful in markets where prices may be volatile.

  1. Task1: different types of business ownership

    Franchise Subway , McDonalds and Burger King > The right given by one business to another to use its name to sell its goods and service for a fee. > Franchise must buy the rights and stock from the franchisor.

  2. Enron Case Analysis

    All of these problems contributed to the collapse of Enron. Through their negligent financial recordings to there extremely strict culture, Enron destroyed themselves by pushing too hard too fast.

  1. Free essay

    planning personal finances

    July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Total Income McDonald's �897.71 �897.71 �897.71 �2,693.13 Bar work �240.71 �240.71 �119.21 �119.21 �240.71 �119.21 �119.21 �240.71 �240.71 �1,680.39 From Parents �100.00 �100.00 �50.00 �50.00 �100.00 �50.00 �50.00 �100.00 �100.00 �700.00 Loan �1,666.66 �1,666.66 �1,666.66 �1,666.66 �1,666.66 �1,666.66

  2. This report has been produced as evidence for Unit 9 - 'Financial Services' - ...

    Pensions Pension is basically a long-term savings account, which you can access after your retirement. Every year you delay taking out a pension, you could be substantially reducing your security and standard of living in the future, because pension investments grow over time.

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