Source of fixed and working capital
In this business it will need fixed assets in this industry such as oven, showcase, mixer, freezer, motor vehicle and machinery and equipment. We will be pooled 50,000 from friends and family we will also borrow a 100,000 from a financial institution. The entrepreneur will put 125,000 savings in the business. The working capital which is or day-day use of liquidity assets in the business, we will sell shares to shareholders hoping to receive at least 100,000 which will be used as our working capital. The business will start to earn income and the working capital will be used to pay wages lighting water rent etc and entrepreneur will find the money to pay back the loan within 1 years.
Type of Production
The type of production this business organization will be operating under is the secondary and tertiary production. Reason being for this action is that we will be converting raw material to finish goods then those finish product we will be using to satisfy the needs and wants of our customer hence, we will be providing personalized or direct services; we will be using our skills and talent to provide healthy and freshly baked products to satisfy the need and wants of our citizens and tourist. This business will should make a drastic contribution in the sector of tourism because we will be providing for them also.
Quality Control Measures
The measure that will be put in place to ensure that the food/product and customer service is at best quality is that when each customer purchase something they will receive a little questionnaire and then they will have the opportunity to leave a feedback based on the product they buy and the customer service they receive and the questionnaire will a little footnote that state that this information is strictly private and confidential. So this will gives us the chance to know if we are providing this best service and then this can us to keep up the high criteria and standard. The production manager will ensure that the machine is performing excellent and as stated earlier we will take advice from our customers.
This business will have backward. The farmers will be our backward linkages to get our sweet potatoes, banana and yam etc. these resources will be used to produce or banana bread and potatoes’ pudding etc. and the factories will also be our backward linkage because we will be purchasing our rice, flour, sugar and spices in bulk to receive it at low cost because these resource will be used in our day to day operation.
Principle of Business School Based Assessment
Candidate: Romario Twaine Maleake Simpson
Teachers Name: Mrs. Remike-Harris
Center number: 10033
Description of the Business
The Fancy Romi’s Delight will be a private limited company operating in a free market economy. The location of this business is 94 Duncaster Avenue Kingston 6. Our business will be operating 7 days a week from 9:30am- 7:00pm. Reasons for making it a private limited company is: Availability of loans
Accurate decision making
The company has separate legal identity from the ownership.
Nature of the Business
The business will be manufacturing baked products such as banana bread, Danish etc which are a part of the baking industry. The residents of East Kingston encompassing (Norman garden, Bournemouth, Rockfort, Lower Mountain View, Rollington Town etc...) will be provided with this service. Mission Statement
To provide low priced, freshly baked high quality products and friendly efficient customer service to all stakeholders. Our Main objectives
To maintain a good relationship with customers and ensure they are satisfied with our goods and services. To sell goods below competitors pricing and still be able to make a profit....
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