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Setting up a shop in York

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Introduction

Introduction For my business Studies coursework I will be considering the key issues around setting up my own shop situated in York. I have decided to make this a sports shop as there are only a few sports outlets in York which gives me a greater opportunity for success. In addition this is an area that I could specialise in as I have good knowledge around this market already and will be able to use this to my advantage. It will be called CarverSports which makes it obvious that it is a sports shop and new to the area which should generate some interest. I will believe we should do a range of goods and specialise in a few, less popular sports. I think this will make our company a lot stronger, attract a variety of customers and more likely to make more revenue as there is less competition and good profit margins. We will be the only sports shop in York who sell sportswear such as American Football garments and karate clothes. I think this will give us the edge against the competition. Before we go ahead we need to do some research which I will cover later. I have decided to go into a partnership with a long known friend of mine Mark. I prefer this to being a sole trader for a number of reasons. * More capital invested into the business therefore less debt to pay interest on * Less work for me to do so I can share the workload * More likely to get a loan or overdraft from the bank * Specialisation: My partner may be better at finance and I may be better at marketing * Someone to share idea and look for new opportunities to make profit However, there are some disadvantages of being in a partnership * Unlimited liability for me and my partner together * If my partner makes mistakes, I lose money too * Not as recognized as Ltd or PLC * The profits will have to be shared with him Like most businesses, our aim is survival and to prosper. ...read more.

Middle

just at the beginning of a sports championship such as when England are about to play in the World Cup. I will now look at the Message and Media in more detail. Advertising Message In an advertising campaign, no matter how much money is spent, no matter what media is used, it will only be successful if the Message appeals to the target audience. Given the level of advertising which bombards the average consumer, a successful advertising message must stand out amongst the advertising clutter, be memorable and encourage people to want the product and go and get it. Thus marketing professionals are required to be creative, imaginative and innovative in developing the advertising message, both in terms of 'What is said', and 'How it is said'. What is said This is often referred to as the 'Big Idea', and will normally address the key benefits sought by the target audience, motivating the audience to pay attention. Given the constant search for new ways to appeal to target audiences, it is difficult to categorise the content of advertising messages which a business may send, below I have included three examples of actual message strategy. Examples of 'What is said' Gillette: The best a man can get Is an example of a message which draws attention to the brand's position as the market leader, reminding and reassuring the audience, we all like to think we have the 'best'. Reebok: Trying to loose your belly Is an example of a business emphasising the functional benefit that motivates the purchase of the product in the target audience. Fitness, health and a toned body is very appealing to most people. Sony Play Station 2: Its out there Seeks to differentiate the product from both the competition, and previous version of the Play Station 2, whilst also generating awareness and interest in the new product. How it is said Our last example of the Sony Play Station 2 campaign, also underlines the fact that how things are said, is often just as important as what is said. ...read more.

Conclusion

Fair Trading The manufacturers used by our suppliers are treated fairly and with respect and undue pressure is not placed on them through terms and conditions of supply. Summary I have considered my desk and field research thoroughly to ensure I know The customer needs and wants The products that sell best The products that are not sold currently by the competition The target customers The type of advertising and promotions The location I have added this to my own knowledge and that of my partner to establish the best options for my plans. I am a lot clearer on what I need to do and how to do it. This will also help when I go to see the Bank Manager for a loan to get started. I would need to train up the staff, pay them a good salary and keep them happy so they were seen to be helpful and friendly to the customer to ensure they give customer satisfaction Conclusion In conclusion to this piece of coursework, I think that my business will work quite well. We will obey all of the laws including the trade descriptions act and follow our own guidelines of code of conduct. I am sure that my business will be a success if I put in the hard work and great ideas to attract customers. If I did this again then I would not choose a sports shop as I found out that there were more than I thought and the competition is more as JJB Sport can get better deals from manufacturers because they buy such huge quantities. Apart from that I think that everything has gone very well. I did different types of research and got the results that I needed from the Mintel report and from my questionnaire. My company would find it difficult to start like all companies, especially with rivals such as JJB sports. However, I think that our company will pull through. ...read more.

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