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Creating a business - I have decided to call my music retailers Music Mania. My business is different from any other music store as it will beat all high street prices.

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Introduction Being an employed music manager of the superstore HMV music retailers, I take charge of the daily management tasks that come upon me. I am also in charge of the despatch section of the company and also supervise other shops when needed. From my knowledge of the music industry and the vast amount of profit made in this industry, I have decided that I am willing to purchase or rent premises, which will be well suited to this venture. The location of the premises has to be a potential customer area like a busy shopping centre, road or in the town centre. The location also has to be where there are only few competitors. Myself and one of my colleagues who I presently work with will run the business. I will also employ younger members of staff to work in holidays and Saturdays, as it will give them a good experience to work in the retail industry. At present I have �9,000 to invest into my business venture, but estimate a further �14,000 capital and an overdraft facility of �2000 which will be required to replace old stock for new. I have estimated that I will need �14,000 for all the refurbishment's made to the property for it to be transformed into a music retailer. I will also have to spend a vast amount on advertising and also to full my premises with the latest music selection, which will start my business making sales and in the long run a profit. I am therefore writing to you to ask National West Minster Bank to supply me with the extra finance required. The following information, which includes a financial section, will provide you with full details of my proposal. My Business Idea I have decided to call my music retailers Music Mania. My business is different from any other music store as it will beat all high street prices. ...read more.


Situated in busy shopping area and fronted on the main road convenient for Halifax and Bradford shoppers. Price �18,000 for property. Appendix 9 Map Location Appendix 15 Property (D) * Retail Shop Unit, Baildon. Single story retail unit. Situated in the main shopping area between Bradford and Shipley, also next to Fish & Chips Shop. Price �69,000 for property, and �5200 per annum for rent. Appendix 10 Map Location Appendix 16 Property (E) * Retail Shop Premises, Shipley Town Centre. One floor retail unit situated 100 yards from Asda the Supermarket and Car Park. Price �7000 per annum for rent. Appendix 11 Map Location Appendix 17 From looking at all the properties and viewing them I thought that it would be best to open my store in a small town near Bradford, like Shipley. The reason for this is that there is no music shop in the shopping area apart from Asda the supermarket which offer a small selection and Woolworths who also catter for the same selection. When considering my location I must look at the competition in the area. The location I would be looking for would be close to the main shopping area so it would not be out of the way for customers to reach by walk as Shipley has no roads around it's shopping area. For the Shipley area the competition market share is as follows: Asda 6.9 Woolworths 4.1 A pie chart will give a true image of the market share From my ideas and research I visited and phoned Ernest Wilson Estate agent who specialises in Business properties. I was given some information about some properties in the Bradford area which were suitable but I didn't think they were the right location for a record store, this information is in Appendix 7,8,9,10,11. I was thinking more on the lines of the town centre or a busy shopping area. ...read more.


Employees at lower levels have less responsibility and less authority. However, these terms do not mean the same thing. Authority is the ability to carry out the task. Therefor it is impossible to delegate authority to persons with no responsibility. Flat Structures In contrast to a hierarchical structure, a flat structure generally has a single level of management. Flat structures are normally for smaller organisations which would be idea for my particular business venture. Flat organisations are those which have a relatively few or even just one level of management. They are frequently found in the service sector of the economy. They tend to be smaller and less complex than hierarchical organisations. Many partnerships, co-operatives and some private limited companies have a flat structure with all the management at the same level. The characteristics of this type structure are that the authority is very centralised. The span of control is very wide, and so responsibility is spread also creating a more equal workforce. It has recently become more popular, because in ways thought not possible just a couple of years ago. This style of management only works for a company with less than 200 people working within it. There are a few problems with organisation or co-ordination as they're all working for the same objective. It also encourages delegation within the organisation and therefore more active roles to play within it. The advantages of having a flat structure: * There are fewer levels of management. * There is a greater communication between management and workforce. * There is a better team spirit. The disadvantages of having a flat structure: * People may have more than one boss. * This method is only useful to small businesses. * It can be difficult for the organisation to grow. A structure can be defined as having component parts, which are connected in a particular way. Structures are designed to fulfil purposes. Organisational charts are an attempt to record formal structure, showing some of the relationships, the downward flow of authority and responsibility and the main lines of communication. Finance ...read more.

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