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Choose a vacant local business site. Make recommendations on how it may be developed for business purposes

Extracts from this document...

Introduction

"Choose a vacant local business site. Make recommendations on how it may be developed for business purposes" Aims & Objectives The aims that I will try to achieve during this project are the following; I will gather a significant amount of information concerning at least 3 vacant business premises in my local area; I will analyse these vacant premises from an enterprising perspective; I will find out, by questioning the local community, what business' are generally considered to be lacking in presence in the area; I will choose one of the vacant business premises as an ideal site to set up a business; I will choose which kind of business would be ideal to set up in aforementioned location; I will decide about the details concerning how the business should operate in order to maximise financial success; I will write a report about the business, and what could be expected from it in terms of quantities of success. In order to achieve these main aims, certain tasks will need to be completed, and reports will need to be written, in addition to other forms of information to aid this documentation. Because of the nature of these tasks, it is possible to divide the main aims into "objectives". A simplified list of these objectives is as follows: * Write a report on the aims, objectives, and methodology of the project o Divide the Project into several aims o Divide the Aims into many objectives o Explain the objectives with methodology * Locate and gather information on at least 3 business sites o Analyse the significance of the location of the sites * Find, create, and annotate maps of the region including significant information about the immediate area * Note nearby locales of significance, such as bus stations or competing business' * Regard the popularity of the general vicinity in terms of numbers of potential consumers * Evaluate the financial costs of locating in certain areas * Investigate the other advantages and disadvantages of the ...read more.

Middle

The questions will be as follows; "Which of the following locations do you most often purchase goods or services in?" - This question will allow the database of returned questionnaires to organise the questioned into categories based on which location their answers to the questions apply to. Using this method, public opinion about each of the 3 different locations (Deal, Walmer, and Canterbury) can be isolated and therefore used more effectively. Unfortunately, due to the nature of the places in which the questionnaires will be distributed, the answers to this question may not be fairly used as evidence to suggest which of the 3 locations are the most popular as shopping spots. "How often do you visit this location?" - This question is far more effective for the purpose of finding out how popular certain locations are for shopping. There will be 5 possible responses; "Less often than once a month", "Once a month", "Once a week", "Several times per week", and "Every day". These 5 options will all relate to a number of "points" from 1-5. By calculating the mean average number of points (total points divided by number of questionnaires answered per location), the popularity of each town by shoppers can be effectively measured. For instance, if 5 people shop mainly in Canterbury and each of them answer this question with a different response, (1+2+3+4+5)/5 = 3. Therefore, the average Canterbury shopper shops in Canterbury once a week. "How much money do you tend to spent on a visit to this location?" - This question also has 5 possible responses and can use exactly the same formula as the previous question in order to find out the average amount of money spent per visit by the average visitor to each location. This question can be used in conjunction with the previous question in order to find out how much income businesses in Canterbury can expect to take in. ...read more.

Conclusion

Builders and decorators can be hired in order to do most of this work, but a lot of equipment must also be bought. This includes clothing racks, changing rooms, hangers, tills, chairs, and general clothing shop furniture such as a "desk" for the till area to operate from, and racks for shoes, among other general display areas. Electricity must be made sure to be functioning effectively within the building, with operational plug sockets, etc., as well as other essentials that the building will need in order to serve its purpose properly. 6) Formal Business production "Details" The service of wholesale stock being "broken", and the service of allowing the local consumer to buy these products with minimal effort is the "product being produced" - It is being "produced" within the business premises, by buying in stock and selling it to customers, and it is "produced" to make a profit and provide a service to the local community 7) Technology Computers will be used to aid the organisation and operation of the business, therefore boosting its efficiency. Financial records should be kept on a computer and backed up (A partner should be put in charge of this initially), as well as other important information, such as the quantity of stock of each product left in-store. In addition to this, a computer could be used for more effective communication, and if the business established an internet presence for itself, it would have a huge number of benefits. However, the partners - as well as anyone they may employ in the future - would have to be trained in order to use this technology 8) Conclusion With these decisions in place, it is likely that the business will be a great success. Naturally, changes to this overall plan may need to take place in order to adapt to a changing situation. A successful business must always change and evolve when its environment changes. Acknowledgements: "Business studies for OCR GCSE" - Peter Kennerdell, Alan Williams and Mike Schofield - Hodder & Stoughton - ISBN 0-340-79052-0 Joseph Fitzpatrick, Candidate 6230, Centre 61533. GCSE Business Studies Coursework 28/28 ...read more.

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