The business sells shoes to all ages
We do not make our own products, as
we buy shoes from the supplier, then we will sell it off to costumers,
Premises – The premises is
important because my business needs to have a wide, spacious area that will
welcome my costumers. The shop I will operate my business in has to be in a
crowded area too, so I will have to put the shop in a crowded area like a city
Staff – The staffs needs to be
around the city centre, the city centre is the main hub of transport so it’s
easy to get to, and for the new grand central train station, and it benefits
Equipment – The equipment I will
have to use for my foot wear shop is: displays, shelves, task manager.
Costumers – The costumers will have
to be adults or kids, both sizes for adults and kids are sold.
Stock/raw material – The stock will
be always refilled by a system we use so that every time a stock item goes
under 20 it automatically orders for us.
Supplies – Suppliers are going to
be any company overseas, this is because it is a lot cheaper to buy the
products overseas than the UK. This will save some money for my business.
Competitors – Competitors are
mostly going to be the businesses that are selling branding like JD sports,
foot asylum or even sports direct.
The opportunity of my business is that it would be in a very
busy area with a lot of people visiting (city centre) which will attract a lot
of costumers and the KEPSTRA company will make a lot of profit of it, paying
off the advertisements bought.
Also another opportunity is that the KEPSTRA business will
have a location suitable for workers to get to, this is because the city centre
is the main hub of transport (train, bus), and so we won’t have to pay a worker
without 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 pay
and the individuals, who run them,
are subject to a wide array of taxes – from Corporation Tax to National
Value Added Tax (VAT) is a tax
on the final consumption of certain goods and services in the home market but
is collected at every stage of production and distribution.
And for the last one they
would have to pay national insurance
And the last thing a normal
ideal company that would pay tax is National Insurance, they would have to pay
National Insurance by law as everyone: atonal Insurance is a deduction from
earnings, set up originally to fund various State benefits such as the NHS, the
State pension and other welfare-related schemes. In reality, it is just another
Changes of government – When
the government makes a plan, the business has to stick to that rule because
they have to, they would have to adapt to that rule EG. The recent 5 p bag
rule, they would have to adapt to that rule because of the waste produced.
My business idea is that they are targeted to most of the
group ages and a unique brand.
I believe that this business will succeed because of the
unique brand and the exclusive shoes it provides to its customers.
This business is different than others because it sells more
items and has great costumer service for the company.
This item is one example of what I will be selling and also
The premises – This factor will relate to my company’s
expenditure, I will need an appropriate place for my business because my
customers want a place to get easy to. Cost and appearance is important to my
business because I do not want to spend a lot of money into renting or
purchasing the building. Renting a place in town is very expensive so I will
try to move a little bit out of town and go and try to locate my business into
the outer skirts of the city centre. My stock would always have to be full as I
do not want to disappoint any costumers that want to buy products so I will
need a bay area for my business so that shoes can easily be restocked.
Staff – I will have to employ people with good customer
service skills and hygiene, this is so that they will keep the costumers happy
and keep them coming back to visit the store again, giving the company a good
reputation. My staff’s wages is key here because I do want to employ but not
spend as much money on the wages, so I will need to look out for maybe teenagers
that won’t need as much money as adults.
The uniform will be provided by me.
My business will be successful because of the social media
advertising, a lot of people use social media to interact with people, so a lot
of people will see the advertisement of my company and will check out the
online website of Kepstra Shoes,
Another reason why my
business will be successful because of the stock, my stock will be always
refilled always so the business will never be out of stock.
The delivery system from the business will also be in place
making it easier for the costumers to get satisfied, as they get what they
trader : A
person, who is the exclusive owner of a business, entitled to keep all profits
after tax has been paid but liable for all losses.
It’s when two or more individuals share the profits and liabilities of a
Limited company – a private company whose owners are legally responsible
for 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 are
strictly 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 – A
type of non-profit business that employs people and earns income in order to help address perceived social or environmental
issues. For example, a social enterprise might provide valuable services to a
population in need, or they might perform volunteer or even paid consulting
work on environmental cleanup projects.
Partnership – two heads (or more) are better
business is easy to establish and start-up costs are low
trader –: You are the boss, you can keep all the profits, and all the startup
costs are low.
company -: You can split your income, you protect your company’s name and you
separate your legal identity.
Economy – In this
factor, The economy is presented as follows, the more wages the more employees
that look for a job might be more interested in the job than a lower wage, this
will lead to a better ecomony level because they will be able to help more
costumers, this will also lead to a better a successful business.
Labour – In this
factor, the more people work the more wages they will receive, this will be
benefical because it will help it expand within time.
Education – Education is important, this
is because when more people are educated, they more people are going to be
employed for the business, the less that people are educated the less chance of
them getting a job in the business.
Population – The
population is also important because if they are more people in the world, the
more people are searching for jobs so they can apply for the job, if there is a
less dense in population, there will be less people applying for the job.
These two factors will affect a business because they will be
able to get more employees into businesses.
MacDonald’s was founded in 1940 as a restaurant, it was
operated by Richard and Maurice McDonald, in San Bernardino in California the
United States of America.
My original business idea has the potential to respond
to market needs as I have a good strategy for dealing with competitors. For
example, if one of my competitors comes out with a new product, I will also
have to come out with a new product or advertise a new product. Additionally, being able to advertise for new
customer’s means that I’ll create a bigger cash flow for myself.
The likelihood of success will be evident, as it’ll
provide access to prospective customers who want more recycled cosmetic products (such as plastic end off
lases, ) due to the demand in wants changing to more environmental friendly.
However, there is also a likelihood of failure as vegan cosmetic products may
be rejected by customers who do not like them.
My business customer needs are essential for us because it’s
what the customer expects from us, what will be doing is that we will be doing