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UNIT 11- Own business

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Introduction

Unit 2: Enterprise and Operations Introduction This project requires me to produce an imaginary business. To do this I must research into all aspects of a business, using books, people, and computer resources. My business venture that I am going to set up will be a phone shop and it will be called Kash Mobile. In my shop I will be selling different range of phones. I believe my business will be successful if I choose a good location for it and to do that I will be carrying a research on it later on. Aim The aim of "Kash Mobile" will be to be able to compete with other companies in the local area, provide high quality service to the public to make more customers, and then it will be to make profit and for the first year survive to make my business well established business. Market Environment I think the location where I am opening my business; people will be able to afford enough money to spend on my business. I have chosen a location for my business, where there aren't enough mobile phone shops and I will not have to worry about competitors. ...read more.

Middle

Promotion To promote any business there are several of ways can be used to advertise e-g, through newspapers, TV. To promote our business we will be advertising through leaflets and we also will be running our own online website where customers can order the product online and find out information on my products. How my advert of my business will look like in a leaflet Sole Trader Sole trader is a business that is owned by one person. A person who's the sole trader owner and manager of a business is called a sole trader Sole trader are common in business that are simple to run and don't need many workers. A sole trader may employee other people, but owner takes all the decisions. Sole trader ships are the most common type of business in the UK. It's normal to find that plumbers, decorate, hairdresser, shop owner and even writers set up as sole trader. The sole trader keeps all the profit (if it makes any). Many sole traders feel they are rewarded for working long hours. Sole trader do not need large amount of money to start trading it may not be necessary to borrow large amount to start the business. ...read more.

Conclusion

Threats Less economy/profit may affect my business. CASH FLOW FORECAST I am going to create a cash flow cast for the first 4 weeks. Trading Preparation WEEK ONE WEEK TWO WEEK THREE WEEK FOUR INCOME Capital �30000 Bank Loan �8000 Sales �1224 �1224 �1224 �2222 Total Income �38000 �1224 �1224 �1224 �2222 Equipment (Mobile Phones) �5000 �5000 �5000 �5000 �5000 Advertisement �300 �150 Insurance �30 Loan Repaymets �225 Rent (weekly) �380 �380 �380 �380 �380 Total �5905 �5380 �5380 �5530 �5380 Profit and Loss Account The profit and loss account is a report of the company's profit on the sale of their goods or the provision of their services over a trading period. Normally one year. � � Sales �2565 Products (Mobile Phones) �1094,35 Gross Profit �1470.65 Less Expensive Loan Repayments �100 Advertising �225 Insurance �30 Rent �180 Total Expenses �535 Net Profit �935.65 Less wages �2016 Net Loss �1080.35 How to record payments from customers I will use a receipt which helps me records payments from customers, Example of a receipt is shown below. Umar Abbasi Tele No: 020897676832 Address Email: 34 High Road Harlesden HA7 USB CASH RECEIPT Date: Receipt No: Customer Details _____________________ _____________________ _____________________ Details Amount (�) Subtotal: VAT: TOTAL ?? ?? ?? ?? Umar Abbasi ...read more.

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