Case Study Business Report

Executive summary:
The aim of this report is to advise Laurie and Joe of how to establish a small business catering for all forms of hairstyling and to make recommendations for areas of suitable establishment options, financial decisions and components in establishing a successful business.

Personal Qualities: (CUT DOWN)
  A) Motivation
Motivation is the reason behind why a person decides to start a business. Before starting a business J and L must make sure they are motivated. Js and   L motivations could come from the following:
- having a larger % of profits as the business owners
-Gaining personal satisfaction in starting up a business and watching it succeed
  B) Experience
Previous experience is also recommended before Laurie and J establish a business. Both L and J have had prior experience in the field of hairdressing through past apprentices with other salons and through TAFE courses.   Therefore starting a business is a good option for them with their previous experience and history.
  C) Expectations
Expectations are the goals that a business sets to achieve. L and J’s expectations for their business need to be realistic, measured and have a set time period for these goals to be achieved.
Laurie and Joe must expect:
  * Financial rewards
  * Independence
  * Success
  * Role as the boss
  * Security of future employment
  * Opportunity to use skills
These are all aspects that L and J, as entrepreneurs, need to consider before establishing their business.

Establishment options:
There are two establishment options for L and J to consider when starting a business. These include starting a new business or a taking over an existing business.
  A) New business
A new business will provide L and J with the greatest amount of flexibility. They will be able to decide on every aspect of the business from the location, stock, equipment and the hiring of staff.
  B) Existing
Another option L and J should take into account... [continues]

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