business studies-AQA Specification A enterprise coursework.

this is the enterprise couresowrk on busines studies.I got a high grade in this and so i think it may be useful.. and it good for exam revision too! ***

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Amirah Chhadat B.S. Coursework
Business studies coursework.
INTRODUCTION
The idea for a business I have considered is a sweet shop. It will contain mostly sweets and some
chocolates and a few drinks. For a successful business I need to have a unique selling point which is going
to be: famous American sweets for example jolly ranchers and American hard gums. I believe these are
very famous and these sweets will get customers to visit my shop. The advantage of this is that I have a
relative in America who has offered to send the sweets for free so no costs will be needed for
importing.
I will set it up in an area near many schools where 87% of people are students, I think that looking at my
business they will be persuaded to buy sweets. My location is St.Vincents road near two high schools.
The next thing I am going to tackle is how I am going to set up; I will mention the types of ownership and
mention the advantages and disadvantages.
I will then carry out some market research; firstly I will make a questionnaire and carry it out in the
mentioned area, to find out what people want and also how they can distinguish my business. I will then
analyse each question by interpreting the answers I get as graphs.
I will then try and find the best location for my business by identifying possible sites and describing the
advantages and disadvantages and then I will come to a conclusion of the best location.
I will then tackle marketing and the different sources of finance and their pro's and cons.
I will need £100, 00 to start my business from which £70, 00 will be a loan and the rest investment and
from family.
I will then attempt to produce a cash flow forecast and a profit and loss account; this also may be slightly
inaccurate as this would all be estimated on estimates.
Equipment I may need to buy includes shelves and a fridge for drinks. I will also need to buy a register till
and this may cost a lot. However I am sure that I will be able to manage and deal with the costs
accordingly.
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Amirah Chhadat B.S. Coursework
I will open my business as a sole trader because then I would not have any quarrels that is possible to
have with a partner. I would also be able to make my own decisions and after paying all the bills and
wages, the profit would be mine.
I need to make profit as my personal belongings are at risk.…read more

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Amirah Chhadat B.S. Coursework
RESEARCH
There are two types of research which will help me find out information from customers
themselves how to make a successful business.
PRIMARY RESEARCH SECONDARY RESEARCH
Primary research involves getting original data directly about the product and market. Primary
research data is data that did not exist before.…read more

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Amirah Chhadat B.S. Coursework
The results are confidential. (no other business will have access to them)
The data can be obtained quite quickly (in online cases)
Can never be out of date like secondary research and more reliable(can't be bias but
secondary research could be)
The main disadvantages of primary research are:
Can be difficult to collect and/or take a long time to collect.
May provide miss-leading results if the survey is not chosen with care; or if the
questions are not worded properly.…read more

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Amirah Chhadat B.S. Coursework
The general media
What are the advantages and disadvantages of using secondary data?
Firstly the disadvantages of primary research are the advantages of secondary
research e.g. it is: Easier to collect whereas primary research is hard to collect.
Secondary data sources should always be considered by any firm conducting research.…read more

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Amirah Chhadat B.S. Coursework
They are:
SOLE TRADER
A sole trader is a business that is owned and run by one person. The main reason to be a sole
trader is often independence. The main aim is usually survival and a modest profit. The owner
raises the finance him-or herself from personal sources (own funds) or by borrowing. The owner
has sole control of the business and makes all the decisions (although, of course the owner can
ask for advice).…read more

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Amirah Chhadat B.S. Coursework
partnership, but a written contract should be considered. In a partnership SLEEPING PARTNERS
may provide vitally needed money to help set up or expand the partnership.
A partnership requires:
Shared ownership
Shared decisions
Shared workload
Shared profit
ADVANTAGES OF A PARTNERSHIP:
As there is more than one owner, there will be more money available to help set up the
business.
New partners can bring in new skills and experience that may help the business to make
more profit.…read more

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-Each worker invest an equal amount of money
ADVANTAGES:
-Close ties with local people
-Well motivated work service
-Fosters good industrial relations
DISADVANTAGES:
-Expansion may be difficult-banks often reluctant to lend
-Possible internal disputes over decisions and financial rewards
-Often lack business knowledge
2. CONSUMERS' CO-OPERATIVES:
Consumers set up an organisation to bulk­buy goods, then share the profit.
FRANCHISES:
A Franchise lets one use a successful business's trade name and enable the company to benefit
from the experience of local managers.…read more

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Franchisers charge a fee known as a royalty depending on the annual sales as well as the
initial payment.
PUBLIC LIMITED COMPANIES (PLC) AND PRIVATE LIMITED COMPANIES (LTD)
Private limited companies
Are usually medium sized companies. The shares are sold privately to family and friends and the
money is raised by selling new shares to help finance the business.
Public limited companies:
Are usually large and sell shares to the public.…read more

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Amirah Chhadat B.S. Coursework
I have only one competitor which is Somerfield.
The advantages of this shop are:
It is a franchise so better known.
It has been open for longer so people know the products well.
The disadvantages of this shop are:
It is a supermarket so they don't have a wide variety of snacks.
You have to travel to get there (not as close)
It is located in busy public areas: Garstang road.…read more

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