KEPSTRA SHOES. 2A.P1 The business sells shoes to all ages We do not make our own products, aswe buy shoes from the supplier, then we will sell it off to costumers, 2A.P2Premises – The premises isimportant because my business needs to have a wide, spacious area that willwelcome my costumers. The shop I will operate my business in has to be in acrowded area too, so I will have to put the shop in a crowded area like a citycentre maybe.Staff – The staffs needs to bearound the city centre, the city centre is the main hub of transport so it’seasy to get to, and for the new grand central train station, and it benefitsus.Equipment – The equipment I willhave to use for my foot wear shop is: displays, shelves, task manager.
Costumers – The costumers will haveto be adults or kids, both sizes for adults and kids are sold.Stock/raw material – The stock willbe always refilled by a system we use so that every time a stock item goesunder 20 it automatically orders for us.Supplies – Suppliers are going tobe any company overseas, this is because it is a lot cheaper to buy theproducts overseas than the UK. This will save some money for my business.Competitors – Competitors aremostly going to be the businesses that are selling branding like JD sports,foot asylum or even sports direct. Weaknesses/opportunity. The opportunity of my business is that it would be in a verybusy area with a lot of people visiting (city centre) which will attract a lotof costumers and the KEPSTRA company will make a lot of profit of it, payingoff the advertisements bought.
Also another opportunity is that the KEPSTRA business willhave a location suitable for workers to get to, this is because the city centreis the main hub of transport (train, bus), and so we won’t have to pay a workerwithout them not coming in, profiting and benefiting the company. Economy. Levels of employment, Changes of government, Tax The normal ideal small business would pay corporation Tax,this tax is paid because of the company making a lot of money, they have to payand the individuals, who run them,are subject to a wide array of taxes – from Corporation Tax to NationalInsurance.
Value Added Tax (VAT) is a taxon the final consumption of certain goods and services in the home market butis collected at every stage of production and distribution.And for the last one theywould have to pay national insurance And the last thing a normalideal company that would pay tax is National Insurance, they would have to payNational Insurance by law as everyone: atonal Insurance is a deduction fromearnings, set up originally to fund various State benefits such as the NHS, theState pension and other welfare-related schemes. In reality, it is just anothertax.Changes of government – Whenthe government makes a plan, the business has to stick to that rule becausethey have to, they would have to adapt to that rule EG. The recent 5 p bagrule, they would have to adapt to that rule because of the waste produced. My business idea is that they are targeted to most of thegroup ages and a unique brand.I believe that this business will succeed because of theunique brand and the exclusive shoes it provides to its customers.
This business is different than others because it sells moreitems and has great costumer service for the company.This item is one example of what I will be selling and alsomy competitor. . The premises – This factor will relate to my company’sexpenditure, I will need an appropriate place for my business because mycustomers want a place to get easy to. Cost and appearance is important to mybusiness because I do not want to spend a lot of money into renting orpurchasing the building.
Renting a place in town is very expensive so I willtry to move a little bit out of town and go and try to locate my business intothe outer skirts of the city centre. My stock would always have to be full as Ido not want to disappoint any costumers that want to buy products so I willneed a bay area for my business so that shoes can easily be restocked.Staff – I will have to employ people with good customerservice skills and hygiene, this is so that they will keep the costumers happyand keep them coming back to visit the store again, giving the company a goodreputation.
My staff’s wages is key here because I do want to employ but notspend as much money on the wages, so I will need to look out for maybe teenagersthat won’t need as much money as adults. The uniform will be provided by me. P3 My business will be successful because of the social mediaadvertising, a lot of people use social media to interact with people, so a lotof people will see the advertisement of my company and will check out theonline website of Kepstra Shoes, Another reason why mybusiness will be successful because of the stock, my stock will be alwaysrefilled always so the business will never be out of stock.The delivery system from the business will also be in placemaking it easier for the costumers to get satisfied, as they get what theywant. P5Soletrader : Aperson, who is the exclusive owner of a business, entitled to keep all profitsafter tax has been paid but liable for all losses. Partnership-It’s when two or more individuals share the profits and liabilities of abusiness venture. Limited company – a private company whose owners are legally responsiblefor its debts only to extent of the amount of capital they invested.
Public limited company -A company whose securities are traded on a stock exchange and can be bought and sold by anyone. Public companies arestrictly regulated, and are required by law to publish their complete and true financial position so that investors can determine the true worth of its stock . Social enterprise – Atype of non-profit business that employs people and earns income in order to help address perceived social or environmentalissues. For example, a social enterprise might provide valuable services to apopulation in need, or they might perform volunteer or even paid consultingwork on environmental cleanup projects.
Theadvantages of:Partnership – two heads (or more) are betterthan oneYourbusiness is easy to establish and start-up costs are lowSoletrader –: You are the boss, you can keep all the profits, and all the startupcosts are low.Limitedcompany -: You can split your income, you protect your company’s name and youseparate your legal identity. M1. Economy – In thisfactor, The economy is presented as follows, the more wages the more employeesthat look for a job might be more interested in the job than a lower wage, thiswill lead to a better ecomony level because they will be able to help morecostumers, this will also lead to a better a successful business.
Labour – In thisfactor, the more people work the more wages they will receive, this will bebenefical because it will help it expand within time. M2. Education – Education is important, thisis because when more people are educated, they more people are going to beemployed for the business, the less that people are educated the less chance ofthem getting a job in the business. Population – Thepopulation is also important because if they are more people in the world, themore people are searching for jobs so they can apply for the job, if there is aless dense in population, there will be less people applying for the job. These two factors will affect a business because they will beable to get more employees into businesses. M3. MacDonald’s was founded in 1940 as a restaurant, it wasoperated by Richard and Maurice McDonald, in San Bernardino in California theUnited States of America.
M4My original business idea has the potential to respondto market needs as I have a good strategy for dealing with competitors. Forexample, if one of my competitors comes out with a new product, I will alsohave to come out with a new product or advertise a new product. Additionally, being able to advertise for newcustomer’s means that I’ll create a bigger cash flow for myself.
The likelihood of success will be evident, as it’llprovide access to prospective customers who want more recycled cosmetic products (such as plastic end offlases, ) due to the demand in wants changing to more environmental friendly.However, there is also a likelihood of failure as vegan cosmetic products maybe rejected by customers who do not like them. M5 My business customer needs are essential for us because it’swhat the customer expects from us, what will be doing is that we will be doinga