Report on Electronic Point-of-Sale System for Small Retail Businesses
Report on Electronic Point-of-Sale System for Small Retail Businesses
Introduction
The aim of this report was to analyze the Electronic Point-of-Sale System (EPOS) in order to launch our new business improvement package. This report includes the information, advantages and functions of the EPOS.
Methodology
Two websites were researched to find out the basic information and the popularity of using the EPOS in the retail industry and a research result on a related system FirstPOS by an EPOS service provider. The information gathered was collated and compiled.
Findings
According to the information of the government website, Electronic Point-of-Sale System (EPOS)
2.0 Company Background
O’so Special, a handmade accessories online shop which sells ear rings, iPhone cases, bracelets, necklaces and rings. All these accessories design by one of the owners Mina Chak and handmade by all owners. Owners sell their products via the website. This business base on Lai Chi Kok with a fair rent, which is for designing the products, meeting and storage.
If the business goes as planned, after six months will signal profitability and year two will see profit by 10%.
2.1 Company Ownership
O’so Special is a general partnership, owned by Miss Mina Chak Hoi Shan, Miss Caroline Chan Cheuk Hin, Miss Debby Chan Yuen Ying and Miss Cherry Cheung Sin Tsui. Owners manage the business and assume the responsibility for the partnership's debts and other obligations.
2.3 Ownership Advantages
The generally advantage of partnership is that the funding is wide and greater as it comes from more than one owner. Apart from this, partnership is easy and inexpensive to set up since all you need is just a statement but no legal or formal steps and there is no income tax for the partnership. Thus, two heads or more are better than one. If things do not work out as planned, it can solve problems quickly and easily.
2.4 Start-up Summary
O’so special’s start-up cost includes the following
Introduction
The aim of this report was to analyze the Electronic Point-of-Sale System (EPOS) in order to launch our new business improvement package. This report includes the information, advantages and functions of the EPOS.
Methodology
Two websites were researched to find out the basic information and the popularity of using the EPOS in the retail industry and a research result on a related system FirstPOS by an EPOS service provider. The information gathered was collated and compiled.
Findings
According to the information of the government website, Electronic Point-of-Sale System (EPOS)
2.0 Company Background
O’so Special, a handmade accessories online shop which sells ear rings, iPhone cases, bracelets, necklaces and rings. All these accessories design by one of the owners Mina Chak and handmade by all owners. Owners sell their products via the website. This business base on Lai Chi Kok with a fair rent, which is for designing the products, meeting and storage.
If the business goes as planned, after six months will signal profitability and year two will see profit by 10%.
2.1 Company Ownership
O’so Special is a general partnership, owned by Miss Mina Chak Hoi Shan, Miss Caroline Chan Cheuk Hin, Miss Debby Chan Yuen Ying and Miss Cherry Cheung Sin Tsui. Owners manage the business and assume the responsibility for the partnership's debts and other obligations.
2.3 Ownership Advantages
The generally advantage of partnership is that the funding is wide and greater as it comes from more than one owner. Apart from this, partnership is easy and inexpensive to set up since all you need is just a statement but no legal or formal steps and there is no income tax for the partnership. Thus, two heads or more are better than one. If things do not work out as planned, it can solve problems quickly and easily.
2.4 Start-up Summary
O’so special’s start-up cost includes the following