Name: Back post
Where I will be based: London
What I will do: I will create a clothes shop based around
I will be successful because I am based around London which
is a populated area which will allow me to sell a lot.
I have chosen this name because anyone who watches or plays
football can relate to it and it would be intrigued by it. This will allow me
to interest fans and bring them in with the footfall tactic. I will be based
around London because there are a lot of people who watch and play football
there which will allow me to get a lot of sales for things which is exactly what
I want. I will be creating a shop that is based on and around football because
it is not something that a lot of people do. This will allow me to sell more as
people will look for the shops and this could potentially lead to my business
Equipment will help me as without it I won’t be able to
display things and I won’t be able to sell. Therefore I will buy a lot of
equipment like: display, stands, mannequins, shelves, glass places and tills.
This will allow me to succeed in what I do.
Customers will also affect me in a good way as they would be giving me a
profit. However, this will only occur if they like the products and if they are
willing to spend the amount that I am selling the product for. Furthermore the
staff will be a representation of my business and they will need to be good and
helpful so that they attract customers and make them come back wanting to spend
more. Stock will help me as it will allow me to sell something this will be
done by as people (suppliers) will provide me with the stock so that I could
continue keeping the business running. Finally competitors will affect me in a
bad way as they will try to take my customers reducing my profit. However I
will outcome this by giving the people a much better reason to come to my shop
than someone else. This could include: good prices, unique selling points and
good customer service.
2 (P1, M1, D1)
Premises: it will be in a city centre and it will be on one
floor but with a lot of space for products to come in and out. This will be
good for me as I will be able to get products in very easily and I will be able
to sell it off or display it straight away. This will be good as I will always
be on time whenever delivering and I will be supplied really well so nothing
will go out of stock. Also this is good as I will be able to display one of the
things I got and this could have potential of interesting the customers and bringing
more in which is what I want.
Staff: I will have a certain amount of staff that will be in
the shop and I will have other staff which sorts out the products coming in and
Equipment: Mannequins, shelves, tills and points of sales
will all be involved in my equipment.
Customers: My shop will be mainly for football fans.
Stock/materials: I will need football shirts footballs,
football boots, key rings, little football objects and books.
Suppliers: Adidas, Nike and the FA (football association)
Competitors: other shops which are doing what I am will be
my competitors and I will try beating them by getting a better variety of
Premises will affect my business in a good way as it will
allow me space to get everything I need and it will allow me to get products
straight in the shop without transporting. Furthermore I have placed it in this
area as it is a populated area and many football fans will be walking around
and I will try to lure them in and into buying something. However, a
disadvantage may be competition. Although there will be less amount of
competition people might see another football shop before they see mine, this
could then lead to a decrease in sales.
I will also be having full term staff that will stick around
for a long time and will have a lot of expertise. This will be good as it will
allow them to attract customers and they will stick around for long only making
my business better because of their influence. Furthermore the staff will be
helping me in a good way as they will they will represent the company (by
uniform) and they will be the people that attract my customers and make them
come back which will allow me to make the business grow which is really
Tax: The tax will be VAT and this will be paid off by what I
sell. A value-added tax is a type of general intake tax that is collected specifically
based on the increase in value of a product or service at each stage of making
and selling it. VAT is usually applied as a destination-based tax, where the
tax rate is based on the location and how well they are doing.
Changes of government: this could have an effect on the
business budget and this will influence the total money the business gets. If another
prime minister is elected the way he works and the way he changes things will also
affect me. A good example of this is Brexit. When this happened the prices of everything
in shops increased. The Brexit move made them increase it as they would d have lost
money but doing this could make them lose customers as they wouldn’t like to
pay so much ,ore for a single thing.
Economy: Prices may change because overall demand rises and
companies realise they can charge higher prices without losing customers. This is
good as it allows them to make an increase in profit without losing customers. However
if the economy is low the amount of money I get will decrease which is the
opposite of what I want. This only depends on what happens in the economy as no
one has power over it.
Levels of employment: the levels of employment will be
affected by these factors as the money coming in and out will need to be managed.
If there is low level of employment there will be a larger level of unemployment
so the business will be able to get people in with lower wage and more working
hours. This will then help the business more as more people will be onsite to
help out with anything. However if the levels of employment are high the amount
of people available will be lower therefore the business will need to pay
higher wages to get people which could decrease the overall money they get.
Tax is when people pay money to the government for things
they buy and sell. There are three certain types of tax that will affect me
most and these are income tax (which is to do with bringing in staff) and VAT
tax (which is to with everything I sell). The final tax that will decrease the
profit for my business is corporation tax which is to with everything the
business makes and a certain sum of it going to the government. This could
affect me as when tax raises the price for everything increases. I will then
have to increase the products I sell which the customers don’t like and I will
have to spend more money on what I buy. Changes of government are when factors
outside the business like government votes affect the business. This could
affect me as I will have to make changes in the business that people including
myself won’t want which could lead it to the downfall of my business which is
not what I want. Economy is how much money there is and if there is a low
economy there would be less money and if it was high there would be more money.
The type of economy will result in the good or bad affect. Therefore I will be
going in an economy which is really good which will allow me to sell more
products making me maximise profits. Levels of employment are the rate of
people I employ during the business years. This could affect me in a good and
bad way. The good way it can affect me is that it will allow me to get extra
support in the business allowing me to take my mind off it and put my mind on
making the business better. However, it could be costing me a lot of money
which is the bad factor and which could potentially bring me down.
(P2, M2, D2)
Social trends can have a big impact on my business and some
of these include fashion, taste and ongoing trends. Also the ageing of the
population can have an effect on me as I will need suitable things for the aged
people around me.
Other trends like being sustainable can also have an effect
on me. Some people may not like going to business that are not sustainable
therefore I will have to try and become more sustainable and reduce my carbon
footprint so the business is classed as sustainable and more people come.
(P3, M3, D3)
Apple is an American multinational technology company which
has a head quarter in California that designs, develops and sells consumers
electronics. It was founded on the first of April 1976.
They have become so successful over the years with the new
ideas and electronics they sell. This has made them very successful as with the
money they were able to buy business with their name all around the world which
increased the popularity allowing them to sell more. Furthermore they were
successful because they were able to buy new technology which many people liked
as it was really effective.
Mc Donald’s was founded in 1940 as a restaurant which was
operated and opened by both Richard and Maurice Mc Donald.
Mc Donald’s have become successful over the year by what
they sell. Their unique and interesting ideas combined with the great taste
allowed Mc Donald to become very well known. With this they were able to make
more companies’ around the world which increased popularity as well as income.
For a food company that is really good as with that money they were able to
expand, increase and become more successful over the years.
Sports direct is a British retailing group. Established in
1982 by Mike Ashley, the company is the United Kingdom’s largest sports-goods
retailer and operates roughly 670 stores worldwide. The company owns a large
number of sporting brands and trades predominantly under the SportsDirect.com
They were mostly successful because of the revenue they get.
In 2016 the total amount of revenue they had was £2,904.3 million. The amount
of revenue is really good as with this money they were able to buy and sell all
the things they need to help their business even more and get the amount of
customers and money they are targeting. This could further help them as it will
allow them to get the amount of money they need to help them to improve,
survive and get even more profit and revenue next year.
I will also try to replica what these businesses have done
to suit my own personal business so that I can become just as successful as
them in the future. The first thing I will try to do is make my business known.
This will allow me to interest the customers and make them at least try it. It
will then be up to me and the business in order to make that customer happy and
give them what they need so they come back many times. If I do this to all on my first customers I
will be able to get a good amount of revenue and then it will be up to me to
keep the consistency and carry on gaining more and more revenue and profit to
help my business.
Similarities and difference of the three companies
Both apple and sports direct
How you will
Can get a
large amount of profit if based in the correct places. Can increase sales
easily and get customers easily.
demand for supplying will occur as more people will want to buy the items which
create a bigger demand.
I would do
questionnaire or surveys to ask the community about what they want or like. I
will then have to meet these needs which will help my research get done
I would have
a lot of competitors as it is based around a town and there are many shops
which could potentially steal my customers.
market by giving discounts or buy one and get one free sop people get
interested and come which could help me.
I would need
dolls tills stands and machines in the shop to be able to help with what I
need and help increase my sales
I would need
permission for companies to get their business and use it for my own or if
making my own business I will need permission from banks and certain people
Sole trader- a sole
trader is a type of enterprise that is only owned and controlled by one person.
An example of this could be a barber shop. With this there are many advantages
and disadvantages. Some of the advantages are that you can get full control of
the business and you can keep anything you want private. This is good as when
you have control of the business you can have control over anything and if
there is anything you don’t like you can just point it out and they will
change. Having privacy is good as you will be able to feel sager and you won’t
worry about anything happening to your private information. Another advantage
is that you can work at home and you can leave whenever you want. Working at home is good as you will be able
to finish your work whilst doing other things that will further benefit you. On
the other hand there could be some disadvantages. Some of these could be that
you gave unlimited liability and you have a lot of decisions to make. Unlimited
liability is when anything happens to the business you have to pay for it and
correct it. Also making a lot of decisions is bad as sometimes you could make
the wrong one. This could then impact your business and you will have to fix it
so nothing will happen to your business in the future. Finally a disadvantage
could be governmental problems. If there is a change in government they will
change how they work and this could affect them as they will have to adapt so
they don’t lose any customers.
Partnership – this is when 2-20 people start up a business
and everything is done between them. There are some advantages and
disadvantages when doing this. Some advantages could be profit and flexibility.
Having a good amount of profit will become easier as many people would be there
to help them and make more money. Having flexibility is also good as if you
need to go somewhere another person can cover up for you and you will have the
time to do what you need. Finally another advantage could be that the shared
responsibility, this is good as if something goes wrong you won’t need to pay
all the money. Some of the disadvantages are agreement and taxation. Agreement
is a disadvantage as there will be many people and all will have different
ideas therefore they will have disagreements a lot and agreeing will be hard.
Taxation is also a disadvantage as the people there will be taxed and the
figure will be really high wasting a lot of useful money. Finally a
disadvantage is profit sharing. This is bad as all the money will be shared and
you won’t get all the profit so you could lose out on a lot of money.
Limited company – a limited company is completely separate
from its owners and it is responsible for its own actions. With a limited
company there come many advantages and disadvantages. Some advantages could be
that you have limited liability therefore you only pay some of the shares if
something goes wrong. Another advantage is that taxation is lower than usual so
you won’t spend as much as you would normally. Finally another disadvantage
could be that you have most the ownership. This good as you won’t need to argue
to get your point across you will just be able to do what you need to suit
yourself and your consumers. Some disadvantages could be restricted capital and
the fact that you get taxed. Not having all capital is bad as you may not get
the profit you want and you may make a loss when in the business. Being taxed
is bad even though it is lower you will still have to pay it and it could
decrease the profit you get. Finally finance is bad as you will need to share
capital and give some to the shareholders which can decrease all profits.
Public limited company – a PLC is a large well known
business that is available for other people to buy with stocks. Whilst having
this business there are some advantages and some disadvantages. One advantage
could be that it is easy to get money. This is good as it will allow the person
to use this money for other things that could further increase the business and
make it better. Another advantage of this is that you have limited liability.
This is good as you don’t need to pay all the money if something goes wrong or
doesn’t go to plan so you can use the money left to improve your business.
Finally another advantage is the status you get. The status you get is really
high and with this you can get a lot of customers easily which could improve
your business. There are also some disadvantages and these could be losing
control easily and being publicised a lot. Having potential to lose your
business is bad as you could make a significant decrease in profit which is not
what you want. Also being publicised a
lot is not good as if something goes wrong it will spread quickly and the
business may have potential of losing customers. Finally a disadvantage could
be people having different aims. This will not be good as the people may
disagree with each other which could cause the business to lose its customers.
Social enterprise –
this is when people use the company to help others and all the profit gained is
gone to the people. Some advantages in this Is that marketing is really easy,
starting is easy and they can choose what they do. This is good as it allows
the people to get money easily and starting the business for them won’t be hard
so they can get on easier which is good for them. Also, choosing what to do is
good as it better suits you which allow you to choose something in which you
are good at doing and can get a lot of money for. This also has some
disadvantages. Some of the disadvantages could be lots of competition
restrictions, regulations and challenges. Having restrictions and regulations
are bad as you don’t have the freedom to do anything and you aren’t able to
take risks which have potential to help your business. Other things like
competition s bad as you aren’t able to sell more because the other business
could get all the customers and there won’t be enough customers that go to your
shop as they don’t know about yours as the other shop is meeting all their
needs. Also this is bad because it can decrease the amount if profit you make
which is bad for you and your business.
Why my business will be successful
My business will succeed because I know there is less
competition in this business and I will be able to sell without having to worry
about other I know this as I have done some research and I have seen that not a
lot of people sell classic and vintage football objects that people like
therefore that’s what will help me. I will also be having a much more variety
of products. For example: I will add more football objects from other countries
that I know that are raising in popularity, one may be America. This will allow
more me to attract more customers which are exactly what I want for my
business. Furthermore the prices of my products will be very reasonable and
every year I will have a special classic football shirt or boots which will be
my unique selling point. This will be a kit that was made and is really old but
people still love. An example could be a football team’s kit and the star player’s
football boots in 1997. Finally I will succeed because my advertising will be
really good. It will be done by showing the importance of the unique selling
point and it will show everyone the variety of things I am offering at such a
The biggest strength in my business will be the: unique
selling point, variety of product, the expert staff and the location of my
product. My business will have a very unique selling point and this will occur
every year and it is to do with the history of the sport. This could increase
the amount of people coming in and it could get me new customers. Furthermore, strength
is the location; it is located in the city centre which will allow me to catch
out the people who are walking by. Strength is the staff. I will be having
expert staff and those will allow me to rely on them more and it will allow me
to be able to sell more as more people would like to come back if the customer
service is nice and good. Finally another strength would be the variety of the
products. I will have many different objects and things about football form all
over the world which will allow me to get all types of customers which id
beneficial to me.
A weakness in my business could be that the customer service
may not be good. I will try to be good and valuable staff but they may be
interested in other jobs and therefore I will be left with unexperienced staff
that could potentially affect my business. Also things like not getting the
right amount of stock and faults in stocking can affect my business as the
staff there may not know what to do and the company may get a decrease in the
amount of stock which is not what I want. Also if I take out a loan and the
staff at the business may not know of it and it may lead to an argument in the
business and the bank resulting in a decrease of money which could lead my
business to fail ad they will lose a significant amount of money and they won’t
be able to carry on restocking and selling.
Opportunities and threats
One threat could be another person opening a similar
business nearby. The reason this is a threat is because they have potential of
stealing my customers and using it for their own benefit. I will try to stop
this by constantly adding new items that will interest my customers and make
them stay. Another threat could be the population of the area decreases making
the amount of customers I get by the footfall tactic also decrease which could
potentially be really bad for my business. One opportunity could be another
business closing down. This will be good as it will allow me to try and get
their customers and use it for my own benefit and to make a profit which is the
main opportunity I will get. Another opportunity could be the location. If it
is in a very populated are it will increase my customers which is an
opportunity I could use to my advantage.