The business plan

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1. Introduction

        This portfolio work will enable me to learn how to set up a business. And we have to do many things to set it up. And I want to set a tuck shop in the boarding house which is near the school and what I have to do is get the tuck shop started. I also have to write a business plan for it to make sure that I know what is I doing. A business plan will also allow me to minimize risks of failure; failure can be very costly to a business. I set it up because the boarders in the house always go to the supermarket in MP .If I haven’t written a business plan it will be an increase in risks and decrease in success in rate.

2. My business

In the school, the student will get pressure from their studies. so by having some food and drinks to let them relax.. that’s why tuck shops are very popular in school even in boarding house. From the result of my questionnaires I got over 50% boarders from the boarding house said they strongly advise to open a tuck shop in the boarding house. So I become confident of the demand of the house.

         The man of my tuck shop called “Come On”. This type of business will be sole trader. This business only owned by me and I need to face “Unlimited liability” which means I face all the business risk and has to find all the capital to start the business. We will be selling many product including ice cream. “Come On” also selling smile and friendly services for free to customers.

3. Methodology

In my investigation of can I start a tuck shop in the boarding house? I have done massive amounts of research. First thing I have done is primary research so that I wrote printed and handed out 30 questionnaires each contain 10 questions. I handed out 30 questionnaires so that my result will not affected by bias, where as If I only hand out 10 questionnaires bias will be the problems for me in the questionnaires.

        I also have been research in the internet about the machinery of the tuck shop and I look the newsagent for the price what are they selling then compare to my price so I can confirm that my price will be cheaper than them so the people in the boarding house will buy the sweet in the house not outside in the newsagent.

4. Marketing Strategies

        Market strategies are helping the firm to achieve their marketing plans and targets. The marketing strategies will be used in order to make the tuck shop be successful will be the 4P’s. These are :


1. Price

2. Product

3. Promotion

4. Place

Product------ Come on” will have a huge range product such as:   soft drink, chocolates, ice cream, crisps etc. The idea of selling ice cream is because ice cream can give “Come on” a competitive advantage. Because in many newsagents are not selling ice cream. So there will be a gap in the market which is known as market niche but from my result of my questionnaire, 60%people said they are very like; 27% people said they like ice cream is selling in the tuck shop. The food sold in my tuck shop is segment for the correct age group in the boarding house e.g. teenagers are from 11-17 are most likely to buy this thing. This is known as Market segmentation---- this is the division of the tuck shop according to different types of customer, in order to meet people’s needs. The tuck shop could introduce a new product and fill a gap in the market, which is also known as a Market Niche.

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Price----If the price that is set for the products is too high then it is easier to lower them than it is to raise them. Demand changes towards price, which is called ‘price elasticity’. Fortunately the competition is weak in the house. There is only a little tuck shop which only sells several products with high prices. In this case, I considered the competition in the house.  Therefore I can keep the price high and obtain large profit margin. From this point the pricing strategy that will be Cost plus pricing, this is when the firm calculates and adds ...

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