Small Business Essay

Submitted By arirzk
Words: 667
Pages: 3

Task 1
You should consider whether your business will be new, a franchise or whether you are going to buy an existing business. Your bank manager has asked for your thoughts on this before he/she makes an appointment to discuss your plan. • Use the links in the above paragraph to find an example of an existing business you could buy and a franchise you could buy.
• Write a letter to the bank manager to outline your preference giving the advantages and drawbacks of starting a new business or buying and existing business or franchise. You should give the examples you have found. Attach any reference material e.g. a print out of an existing business for sale, to your letter.
Task 2
Prepare a PowerPoint presentation that answers the following questions:
1. What are the aims of your business?
2. What is your unique selling point (USP)?
3. What demand do you think there is for your business?
4. What is your target market?
5. What is your competitive edge?
6. How will you balance business and personal needs?
7. How will you check the profitability of your idea?
8. What business trends are there at the moment that might affect your idea?
9. What external influences are there that will affect your idea? (Egg commercial, political, local, national, and international)
10. What will you get out of running the business? (Self-esteem, egg work for self, independence, power, achievement)
Idea using relevant criteria

Chocolate lover
Chocolate lover will be a new business located in a busy area such as in a shopping mall in Oxford City.
Chocolate Lover will provide a wide range of chocolate, the chocolate shop will have different range such as milk chocolate, dark, chocolate, white chocolate, and alcohol chocolate and also different sort of gift box appropriate to all occasions, and furthermore this will attract a wide range of target market.
The chocolate will provide a good cocoa quality for a more sustainable and more intense chocolate pleasure experience. The price will not be to low either too high as the cocoa will come from the Rainforest Alliance (is a non-governmental organization whose mission is to promote an agricultural model that improves the livelihoods of farmers while preserving the environment).
Read more:
Starting a small business requires dedication, focus and consistency. Like with all business opportunities, they provide individuals and organizations with a number of advantages.
As a new small business owner I will have numerous tax deductions and write-offs that I can take. This is important