Create Your Own Company Essay

2299 words - 9 pages

In this section I will talk about why I feel that my business will be a success.My business will be a sports shop that will sell designer clothing (i.e. Nike, Adidas, etc...) and the shop will also sell sporting equipment (i.e. footballs, football boots, etc...). My business will be successful because I have found out that the sports retail is a fast growing sector.Here I will talk about why I want to start my own business.I would like to set up a business because I like the idea of being my own boss (which would make me independent) and I like the idea of doing what I want to do and not having to follow orders.Here are some of the reasons people may want to set up a business.There are a lot of reasons and benefits for setting up a business, my reasons are I'm, dissatisfied with my current job and I feel I need a new challenge and I want to become my own boss and get more money for myself and my family this may end in you setting up a new business (but other reasons are financial rewards, Job satisfaction, opportunity, ambition make a good name for yourself, self fulfilment and having responsibility). Small businesses also have better customer service and they supply better quality.This section contains the advice I have been given.I have been given advice on what types of accounts I can open for a business I have received advice from "Abby National", "HSBC" and "Barclay card" and a business start up pack which gives me information about how the bank will support me and more advice, it also tells you useful contacts and where you can get more information from. There are many different business start-up plans you could have such as ISA accounts, Direct Debit and Personal savings account. I have also spoken to the General Manager of "All Sports" about this and he told me that I should set up my business in a very busy location close to the town centre. My suppliers will mainly be well known companies (e.g. Reebok and Puma are just some of them)Here is the advice I have taken and which I have acted upon.I have selected the small business start up plan to help me get a good interest but still a suitable repayment scheme.I am locating near the busiest bus stop in Kingston town centre, which should help me attract a lot of customers, My opening hours will be a normal 9 - 5 day from Monday to Saturday and 10 - 4 on a Sunday (this information was given to me by the Manager of "All Sports"). The music played in the background will be of the radio; I will hire full and part time employees, which may mainly be students or people who have Left/finished School. I will have an alarm system installed and close circuit television (CCTV) cameras and on the shop floor there will be two tills.Here I will discuss my market research and an analysis of it.I have found the following from a European Sports retail shop (from the web).oIn 1998 50 % of people in European countries played some sort of sport with UK and France having the highest, and southern Europe having...

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