P1: Present the initial business idea using relevant criteria
I am writing to tell you about my new business plan. My new business plan is called Treasurable Treats, it’s a Dessert Buffet Bar and it will be located in Slough Highstreet. The aims of my business are to survive the first year of trading, my unique selling point (USP) is that this buffet bar is completely different to any other dessert restaurant. The demands for my business are that I want it to be high demand; every day people visit the local Highstreet to work, shop and to eat, and I think that people will come and have desserts and this will show that my business will be successful and being successful will make other people come to the shop and make it more successful. My business will be partnership because I can ask my family to help out and make it into a family business. Some of the advantages of being a partnership are that: * It’s flexible,
* You can have better decision making, and
* You have shared responsibility.
Some of the disadvantages of being in a partnership are that: * You can have disagreements,
* You have to share the profit, and
* You and your partner have to pay tax
My target market is Young People, Families, Mature Women, and Working People, I targeted these people because it could be a chill out area, they can come and relax and forget about any types of pressure. My competitive edge is that my business is different and unique because it’s a dessert buffet and there isn’t anything like that in Slough which will make it successful and with this success I will be able to expand the business and make it a much larger business. Hopefully my business will beat other local small business in the area. The way in which I will beat the local business is that my products will be up to a high-quality standard at good and reasonable prices. Whenever a new season starts I will introduce a new dish that is suitable to the season e.g. if...
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