Write a business plan which I would set up within my school.
Introduction For my year 11 GCSE coursework I have been set the task to write a business plan which I would set up within my school. From what I already know I have come to the conclusion as to running the business as a sole trader. I have done this because only need a small amount of capital needed to be invested; this will reduce the initial start-up costs it will reduce fixed costs because I wont be paying out on other employees wages and being a sole trader, I would not have to consult anyone else about my decisions or actions that I plan to make and also would be able to keep all the profits that the business makes, however becoming a sole trader I will suffer from limited liabilty and will be liable for all of the business's debts. The aim of my business is to provide a useful service to all the students and staff of my school, to break even and make beneficial profit. However one of the important aims of my business is to remain open, being forced to close because of the lack of sales is a major threat for small business such as this. I shall create a market orientated business I feel this will increase it's chance of surviving because as it will be able to adapt to what a customer wants. For my business to be successful I need to find out what type of market I will be aiming my services to, this will be carried out thorough market research, this will highlight
Functional Ares
Emni Restaurant is an Indian cuisine in a sophisticated environment since October 2006. Emni restaurant is ideally situated on Upper Street, just off Camden Passage, the Antiques Mall and the Business Design Centre and only two minutes from the Angel Tube Station in Islington. Emni restaurant has a lot of competitors because there are more other restaurants near by. There are also other railways near by such as, the Barbican, Euston, King's Cross and St Pancras International Rail. The location of Emni restaurant is good for business as it is placed in a more obvious area and where customers can be aware of where it is. Emni has many customers, but not all their customers live in Islington, (where it is located), but it is simply located there for the transport, which is Angel Station. Emni restaurant has a good market, as it is situated next to an antiques shop, so the customers from the antiques shop will be induced to go into Emni's at lunch or when they are out doing an outing meal. These customers will choose Emni over any other restaurant because of its locality and the fact that they serve tributary people. Emni's manager, Mr. Hannan sees it as a disadvantage that they are located on the more restrained and duller side of Upper Street. Most of the exciting activities on Upper Street take place on the other side of Emni. This is a disadvantage, as it draws less
The CO-Operative Group Review B-TEC
The Co-Operative supermarket is a limited business established in 1863 in Manchester, England. The company exists in the secondary sector and provides both products and services internationally to around 10 million customers per week. The business is owned by Peter Marks which employs 87,000 people in 4,300 stores with 2,500 recently refurbished. The Co-Operative Group also owns Somerfield, a subsidiary of the company. It is a large business which has a turnover of around 9.4 billion (2007). Each of the two and half million members has a say on how the business is run. The Co-Operative's own food range is ethically sourced and sells food grown from their own farms making them the only retailer to do so. The products and services the Co-Op provides are mainly used by the working class to middle class and the business has earned a decent reputation and incorporates Ethical Trading to the company's name as they are big supporters of fair trade. The Group's online shop sells a wide range of products like electrical products/computers, furniture, music, films, games and books and they deliver their products for free and take an old appliance away (if necessary) for environmentally friendly disposal. The services the company provides include; * Co-Operative Bank - The Co-Operative bank have over 90 branches throughout Britain offering services known as Banking Products such as
Aims and Objective of the Business
D1 Mini Introduction In this coursework, I will be describing how functional areas help to achieve the aims and objective that contributes to a successful business. To explain this I will use same aims and objectives from my M1. I will also add few more aims and objectives of my own, as I do not have enough in M1. I have chosen Manchester United Football Club (MUFC) and Tesco as an example of a business. Manchester United Football Club The aims of MUFC are: * Make more profit * Attract more fans * Make their team better The objectives MUFC are: * To make bigger stadiums * To appoint a better coach * To buy new better players Financial department is important to achieve all this aims and objectives. In order to make more profit, MUFC will need to build bigger stadium. For this further investment, finance department will have to make up budget. To improve the team the human resources department will need to appoint a better coach and buy new players, in order to do that, human resources department will have to interact with finance department to set up budget. Attracting fans can be done by promoting the team as well, so marketing department will also need to interact with finance department to set budget to how much they want to spend on promoting the team. If these departments failed to contribute effectively, the team will start falling apart. Firstly, the
Business Organization in the United States.
Business Organization in the United States In the United States there are many business organizations. The most common form of business organizations are sole proprietorships, partnerships, and corporation. Sole proprietorships: In the United States the sole proprietorships is the most common form of business organization. Sole proprietorships are the business that have one person who own and mange the business, although the majority of business organizations in the United States are the sole proprietorships, which are the smallest business in size (brampton-business.com). Also they are relatively the most profitable. It is very easy to start a business like sole proprietorships and there are unlimited ways to start and exist this business. For example, you could start a sole proprietorship by going to the beach and in the summer and sell mineral water to people. Someone else might decide to buy a farm and sow seeds then harvest the crops and sell it to the market, or open a restaurant. Economic strength: . It is very easy to start sole proprietorships. 2. It is very easy to mange a sole proprietorships. Decision may be made more quickly and have flexibility to change it at any time. 3. The owner may enjoy the profits without any sharing with other owner and you only pay individual income taxes you do not have to pay business income taxes (economics). 4. The sole
What would be the advantages and disadvantages and disadvantages or remaining as a privately owned familly business with me as a sole trader?
Working in organisations A sole trader business consists of one who opens up a business on their own initiative. There are three types of sectors of businesses these comprise of the mutual, public and private sector. Private family businesses are include within the private sector. The following information is an describes the private sector: The private sector is made up of businesses and organisations that are owned by individuals or groups of the individuals. The private includes the following types of business/companies these are: Sole traders, Partnership, Private limited companies, Public limited companies and Franchises. A sole trader is a person who opens up a business on his or her own account (as mentioned above). A partnership is when two or more persons agree to carry on a business together. A private limited company cannot offer their shares for sale to the public at large, which makes their ability to raise money limited. A public limited company is an incorporated business and is a large organisation which shares are sold in vast numbers. Franchises are company's which are authorised to sell a goods or services in a particular place. As a small clothing and accessories business that has grown from a small company to a moderate sized business Mr cannon will benefit from a sole trading business analysing the characteristics. The characteristics of a sole trader
coping with change
Coping with change Having changes are normal, because they should be anticipated at all times. Most of the changes happen in the environment as well as in any business, because businesses are in the environment: e.g. businesses don't operate isolated and are affected by any of the changes that occur in the internal and external part of any other businesses or organisations. Changes that occur in any businesses environment can affect that business as well: * Aims and Objectives: Depending on the type of change that is happening in the environment, the aims and objectives of a business can be changed to something else. It can bring about a huge change in the aims of the business, or it can have a slight change in the objectives of the business. * Customers: The age of a targeted market can also be affected by some of the changes that occur in the environment, because if food price goes up then the business will have to put their menu food prices up too, and that will lead to less customers coming into the business. * Market: The sales might go down because of bad publicity or new opportunities could be brought up of some other changes that happen. * Nature of Activities: Most of the changes that happen bring about slight alterations in the nature of business, but huge changes can completely change the nature of business, because of the new changes that businesses
Business start up with the help of the Prince's Trust.
HSBC Key features and benefits for Flexi Loan > Borrow money up to your fixed borrowing limit at any time > You can borrow from £500 to £5,000, with flexible repayment periods. > Choose how much to pay back each month - from 4% to 10% of your limit. > You can make lump sum reductions at any time with no penalties. > Good interest rates. > If you don't use your Flexi Loan, you don't pay anything. > Our affordable Flexi Loan Protection Plan covers your repayments if you are unable to work in the event of accident, sickness or involuntary unemployment. > If you were to die during the loan term, the outstanding amount would be repaid in full (less any arrears). Flexi Loan APR 14.8% Prince's trust With start-up support from The Prince's Trust, you could get:- > a low interest loan of up to £4,000 for a sole trader, or up to £5,000 for a partnership (the average loan is between £2,000 and £3,000 but varies regionally) > a grant of up to £1,500 in special circumstances > a test marketing grant of up to £250 > Ongoing business support and specialist advice such as our free Legal Helpline. > Ongoing advice from a volunteer business mentor > Access to a wide range of products and services, free or at discounts Family and Friends These people can help me with buy borrowing money and not charging any interest, if they like my idea we could form a
Report on mobile phone business
Report on mobile phone business Date: 04/11/04 To: Mr Khan From: Mohammed VORA Terms of reference: In this report I will examine the business of Mr Khan's mobile phone shop and advise him on which legal form he should take; either setup a sole trader or go into partnership. I will study all the advantages and disadvantages of sole trader and a partnership business. Finding: Advantages of a sole trader Disadvantages of a sole trader Easy to setup and to run- not many forms to be filled in. Unlimited liability- If the business is bad then it is possible for the owner to lose everything they own. All profits go to the owner- he/she themselves. Lack of continuity- The business could be sold by the owner or it could be passed onto their children or all of its assets could be sold off. He/she are their own boss- has complete control over what happens and what doesn't. Illness- If the sole trader was to fall ill then the business could be forced to shut and the income and profits would stop. There are tax advantages such as, national insurance contributions; this saves a sole trader hundreds of pound on profits, and this saves them setting up a limited company and having to become an employee of a company. Long Hours- The sole trader has to work long hours to keep the business afloat. Labour relations- when and if a sole trader employs workers the relation between
business ownership & economies of scale
I am going to do some research into the types of ownership and the advantages and disadvantages to each. Sole trader The advantages of being a sole trader are: * It's easy to set up * Sole traders can make decisions quickly * All the profit can be kept The disadvantages to being a sole trader are: * Sole traders have a unlimited liability which means they can lose their personal possessions to pay off any debts the business might have run up * Sole traders do not have the advantages of economies of scale that a large business has * Small businesses are seen as more of a risk by financial institutions, so it can sometimes be difficult to raise money to help start up a business or exp[and later on Partnership The advantages of being in a partnership are: * It's easy to set up * The capital to start up a partnership is usually small * Partners can contribute a range of skills and experiences to the business , such as accounting skills, marketing skills The disadvantages of being in a partnership are: * The partners have unlimited liability for the debts of the business, unless they are limited partners * Partners may have disagreements about the running of the business * If the partner dies or become bankrupt the partnership must be dissolved A private limited company The advantages of a private limited company are: * The owners of a private limited company
