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Venetian ices task one

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Introduction

Task 1 Venetian ices was founded by Toni Seghini in 1948, he left Italy because he thought there was a big business opportunity in Britan for selling ice cream. Toni seghini started his business off by being a sole trader and, when his business grew, he formed Venetian ices Ltd A sole trader is a person who owns their own business and runs it on their own. This is the most common form of business ownership in the UK, to set up a sole trading business all you have to do is: decide a name, Raise the amount of capital needed, and decide whether you need premises and employees. You have to be able to keep accounts, or find an accountant to do them for you; this is because every year you must send your accounts to the Inland Revenue. The advantages for being a sole trader are: > It's relatively easy to start, no complicated paper work or procedures. ...read more.

Middle

This was a major problem for some of the smaller ice cream manufacturers as they did not have enough finance to make the required changes. Toni was quick to act and saw a business opportunity, he formed Venetian ices Ltd which bought out many of the smaller ice cream firms, and this expansion meant that Toni could develop take-home products and impulse lines. This transformation of the business meant that Venetian Ices was now a private limited company. A private limited company is often owned by people who know each other, these people buy 'shares' in the business therefore becoming part owners of the company. A 'share' is part of the capital, with a private limited company shares can not be transferred (sold) with out permission, this means that the owners can control who buys the shares, that is why its called a private limited company. In order to set up a private limited company there must be at least: one shareholder, one director and one secretary, other than that there is no limit to the number of shareholder a private limited company may have. ...read more.

Conclusion

Shares can not be sold on the stock market The ice cream industry hit another problem in 1962 when the government put a tax on ice cream, this meant that ice cream was more expensive to make and therefore the price for the customers was more expensive. Sales fell dramatically for a short time, but some smaller manufacturers went out of business because of the lack of business. The directors of Venetian ices Ltd took advantage of the situation and agreed to introduce franchising, this was a very successful and a good move for Venetian ices. Task 1.2 Venitain ices is looking to sell ice cream in schools and is hoping to use ventian ices as a pilot. As a result of this my business studies class had been asked to carry out research and see if there is a market for selling ice cream in schools. The research I will using is both primary and secondary, I will be sending out a questionarre to determine what types of ice cream, prices etc would be sensible for the school market. ...read more.

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