Starting a business

A business is a specific type of organization which exists to sell products (goods or services) to customers.

Primary production: this involves acquiring raw materials. For example, metals and coal have to be mined, oil drilled from the ground, rubber tapped from trees, foodstuffs farmed and fish trawled. This is sometimes known as extractive production.

Secondary production: this is the manufacturing and assembly process. It involves converting raw materials into components, for example, making plastics from oil. It also involves assembling the product, eg building houses, bridges and roads.

Tertiary production: this refers to the commercial services that support the production and distribution process, eg insurance, transport, advertising, warehousing and other services such as teaching and health care.

Tertiary production: this refers to the commercial services that support the production and distribution process, eg insurance, transport, advertising, warehousing and other services such as teaching and health care.

Mass marketing can be better understood when compared to niche marketing. Niche marketing can be considered as the opposite of mass marketing simply because it is more targeted. Niche marketing focuses on a smaller market segment with specific definitions. Unlike mass marketing, niche marketing focuses on a smaller group of people with easily identifiable preferences, wants and needs. 

A business plan is a formal statement of businessgoals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.

• Your basic business concept. ...
• Your strategy and the specific actions you plan to take to implement it. ...
• Your products and services and their competitive advantages

Franchising is simply a method for expanding a business and distributing goods and services through a licensing relationship.

• Franchises offer the independence of small business ownership supported by the benefits of a big business network.
• You don't necessarily need business experience to run a franchise. Franchisors usually provide the training you need to operate their business model.
• Franchises have a higher rate of success than start-up businesses.
• You may find it easier to secure finance for a franchise. It may cost less to buy a franchise than start your own business of the same type.
• Franchises often have an established reputation and image, proven management and work practices, access to national advertising and ongoing support.

• Cost-Effective Expansion – Franchisees handle the research and funding for outlets in your chain, which means you do not have to spend your own capital or request additional funding from banks or investors in order to grow your business.
• Marketing Support – Every franchise location uses the same tried and true marketing plans, which helps eliminate the costly guess work when starting an independent business. You will also have the power of a national and/or regional advertising fund.
• Additional Sources of Revenue – As the franchisor, you will receive additional income in the form of on-going royalties paid by your franchisees, depending on your franchise agreement. Royalties typically include a monthly fee including a percentage of the franchisees gross sales.
• Acquiring Talented Managers – The managers chosen to run each franchised location will have a vested interest in its success, unlike a salaried employee, and will be responsible for handling any issues related to employees, workers’ compensation, etc.
• Scalability – Depending on your needs and goals, you can customize your franchise agreement to focus on large volume national growth or low volume regional growth.

A franchisee often received help from the franchisor in regards to site selection, store layout and design, recruiting and training staff, marketing the business, preferred supplies contacts and more.

The franchisee in return has to pay an upfront franchise fee as well as ongoing royalties to the franchisor. The franchisor uses this money to help further develop the system through marketing, product and market research, and ongoing support.

Aim =  what you hope to achieve.
Objective = the action(s) you will take in order to achieve the aim.
Aims are statements of intent. They are usually written in broad terms. They set out what you hope to achieve at the end of the project.
Objectives, on the other hand, should be specific statements that define measurable outcomes, e.g. what steps will be taken to achieve the desired outcome. 
When writing your objectives try to use strong positive statements.