Assignment 36.1 Creating Your Own Business

2895 words - 12 pages

The business that I am going to start is a computer store, it will be based around Drake House near to the Crystal Peaks Shopping centre, I believe this is a good idea as I have an interest in technology and the market for computers is still constantly growing. I will sell all types of different desktop computers, laptops and all other computer accessorises needed for computers. I will also offer the service of computer repairs and a trade in service where customers can trade in their old desktop or laptop. I chose to start a new business because it gives me the freedom of making my own decisions and I am completely in control of the whole business.
In year 1 my aim is to survive as a business, I want to break even by the end of the first year and maybe even make a profit. This will allow me to establish my business properly without running into any financial problems if I can survive the first year and breakeven this mean in the second year I can then focus on making a profit or a bigger profit. Also I will know more about the business and the market after the first year, this will give me a more likely chance to make profit second year.
In year 2 I need to make a profit and possibly extend the business. On the off chance that I can make a decent amount of money amid this time then I will be profiting money that I would then be able to invest once more into the business. I want to open a second store in a different location providing the exact same service so more customers will visit my business if there is more than one store.
My first unique selling point is that we will try and offer the lowest price possible that we can afford to, this is to compete with our rivals as my business will be knew and will need to be noticed straight away upon opening.
My second unique selling point is that we will try and provide customers with the best service, this is so they give feedback to their friends and families which would gather word of mouth and customers may make repeat purchases. We will always make sure we try and give customers the best offers and help them might need, whether this is with a faulty product or with a customer that doesn’t have the knowledge on technical devices.
Computers are becoming more and more popular they are always designing and developing new types of computers and laptops so I believe my market is becoming more popular and growing every minute. More people are relying on computers at this time they are widely used in businesses to save costs as they can be a lot more efficient that having a human worker do the particular job a computer can do. Most household in the UK as well now have a computer, a lot of people also take an interest in the latest technology and what is been released so there are more and more people buying new computers and upgrading their current computers meaning the market for computers is still growing and will continue to grow in the future. As you can see from the link I have provided below...

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