Commissioned by the Deltion College from the third class International Business Studies I have written this report. The report you’ll see in front of you is the work of 10 weeks research. For this unit I’ve been asked to plan the set-up of a small business in my local area. Starting a business involves planning, making key financial decisions and completing a series of legal activities.
Task 1 (P1)
1.1 Present the initial business idea using relevant criteria.
The perfect business idea should be something you are passionate about, as well as something there is demand for. With so many small business ideas, it was hard for me to choose. One way I have decided which business idea I would use is that I looked at what the community wants. The other is that I have asked friends and family for their ideas and which frustrations they have about current products and/or services?
Business ideas have a higher success rate if the people you tell your idea to are enthusiast about it. This because they can be one of your future customers. So if they say they would buy your products, the change that someone else would buy it is more realistic.
I have brainstormed with some friends what would be a good idea for a small business. I assumed that the company will be located in Zwolle, this because Zwolle is a larger town compared with Heino so therefore the target group will probably be greater. The ideas I have come up with are: -
Vending Machine Business
Computer Reseller Business
I have decided to set-up a computer reseller business. I have done some research and I think there will be a market for such kind of business.
A vending machine business could be profitable, but the risk is a little too high. This because many businesses already have vending machines and the machines are long lasting. So this falls off...
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