In this assignment I am opening a tuck shop in the school grounds and outside of the normal school system. I decided to open a tuck shop because there was no there was no tuck shop in the school grounds so there was a market opportunity.

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GNVQ Unit 3: Business Finance

In this assignment I am opening a tuck shop in the school grounds and outside of the normal school system. I decided to open a tuck shop because there was no there was no tuck shop in the school grounds so there was a market opportunity.

In this assignment I have to find out different types of cost before we open the tuck shop.

I will carry out primary research by making and using questionnaire.

I will be carrying a questionnaire so we can find out what customers want so we can get exactly what most customers want and satisfy their needs.

I will go to different sweetshops which surround Langdon School and find out how much they sell their goods for. So I will reduce the price slightly so the customer will come to my tuck shop because of the price.

 

Business plan

Business name: SNACK BAR

Business address: Langdon School, Sussex road

                             East Ham

                             London  

                             E6

Tel: 020 8471 2411

Name: Vipan Lal

Owner: There will be only one person working in the tuck shop which will be me. And I will be a sole trader.

Business Activity: In my business activity I will be selling the goods to my customers.

Aims and Objective: My long-term aim is to be successful in the future and to be here for a very long time making profit. My Objective is to buy more and more different types of snacks so the customers will have more variety to choose from and at a reasonable price so the customer will keep on coming to this tuck shop.

I have done market research a questionnaire. I have done a questionnaire because I wanted to find out what the customers want in the tuck shop so I can get exactly what most customers want and provide it in my tuck shop.

I have to make a table telling me what do I need for my start up cost and running cost before I open my Tuck shop.  

Start – up cost: Start – up costs are costs which need to be met before the business can be start selling new products.

  • Buying premises
  • Market research
  • Cost of buy equipment EG tables and shelves
  • Safe
  • Stock room  

Running costs: Running costs are costs which the business will have to be continually met as part of the on going process of the producing and selling the goods.

  • Rent
  • Buying stock
  • Paying bills
  • Paying suppliers

Goods are something which you can touch, fell and buy, a service is something that does something for the customer but it cannot be touched.

Goods: -

  • Table
  • Television
  • Books
  • Computers
  • Games
  • Food
  • Cup
  • Glue sticks
  • Mobile, ETC

Services: -

  • Holidays
  • Restaurant
  • Banks
  • Estate agent
  • Loans
  • Lawyers
  • Insurance

Revenue is money coming into a business as a result of selling goods or services.

In my business I will be getting my revenue by selling the goods to the customers.

I will do a product differential. Product differential means that you will check different types of shops which your customer might go to and you check the product that the shop and what the tuck shop is selling and compare the price and try to reduce the price slightly so the customers will come to your tuck shop then the other shops because of the price.  

 The Table shows all the costs of each product. But I will not have all the goods on the table only the snacks which the customers want.

(Table on next page)


* = goods I am going to sell.


My revenue will be coming from the goods I sell. Before I can get my revenue I need to get some money to start my tuck shop up. I will consider having a short-term finance because the business I am opening will just be small business so I will need to have very little money. And there are different methods to get money and to get help and they are: -

     Bank overdraft is an agreement with a bank to overspend the business’s account, up to a specified limit. Many businesses arrange permanent overdraft facilities with the overdraft changing as money flows into and out of the business.

     Short-term loan: a specific sum of money is borrowed for a fixed time period. Interest will be charged on the full amount borrowed.

     Hire purchase is when you can hire things so you don’t need to buy expensive things. So you are saving money.

      Trade credit: arrangements with a supplier to postpone payments for goods and services received until an agreed date. So it will also increase your reliability.


The next section of this assignment is to find out what the customers want in my Tuck shop. To do this I have produced a Questionnaire. After I have got my results from the questionnaire I will plot all of the results on a graph and explain what it shows in words.  


Questionnaire results and analysis

This graph shows that in each year there are different number of genders that I have asked so I will have accurate results. As you can see above there are more males then females. .

This graph is about What Religion are these people. In this graph you can see that there are different religions because different religions can or cannot eat certain foods. Their more Christian overall and then next are Muslims.    

This graph shows that not many people eat Halal Food because they are not Muslim (as shown Above).

This graph is about Free school dinners. In this graph you can see that overall that there are about same percentage of people which are not and are Free school dinners.  

This Graph is about Different Flavour drinks. In this graph you can clearly see that the best overall flavour is Mango and Strawberry. And the least favourite flavour is Lime.

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This Graph is showing what people like to drink. In the graph you can see that the best drink is Irn – Bru and least drink is 7 – UP.

This Graph is showing what type of sweets you like. In this graph you can see that the most favourite sweet is Star Burst an the least Favourite is Skittles.

 

This graph is about what chocolates you like. And in the graph you can see that the most favourite chocolate is Kit ...

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