Why I have
picked them?

I based it in Erdington because there are about 23,853 people
living in this area. Most people come to visit here most holidays so I would
make more money. People from around the country will visit this area.

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The products I will be producing will be make up as it is
getting more popular now a days with many different people and different
groups. 58% of girls between of ages 8 to 18 wear makeup and 65% of these girls
started wearing makeup between the ages of 8 to 13.

I’d be more successful because so many people use make up. Id
sell the produce in that place so many people have to get to buy it so many
times. I will get more customers because of some of the way girls use make up
no a days.

 

Premises- Erdington
Fort shopping centre, open all 7 days. It’s there because I have fewer
competitors to face whereas in the city centre there is a lot of competitors
there for me to face. The less competitors the more my shop gets popular. My
shops appearance will be outstanding so more people will be attracted to my shop.

There is a car park there that you can park for free, so more
people will come there instead of the city centre which you have to pay for
your parking space.

Staff- 20-25 of
trained makeup professionals so I can have a good reputation so people keep coming
back. They will each work half time so I don’t spend a lot of wages. They will
each be wearing the same uniforms. I will also get teenagers which will be
doing apprenticeships so I wouldn’t be paying more.

Equipment- Till is
needed to make sure everyone pays without taking it for free and make sure I
don’t give them the wrong amount of money back which will make them not come
back more, and may tell others not to come to my shop because I’ve given them
the wrong amount of change. I will have my own make up factory so I can design
my own make ups, so that would make me different form other make up shops.

Customers- Everyone:
women and men. Young and old.

Stock/ Raw
material- raw materials inventory is the total cost of all component
parts currently in stock that have not yet been used in work-in-process or
finished goods production.

Suppliers- I will
supply my own equipment’s as I will be having my own factory.

Competitors- Less
competitors to face which will make me popular in the area that the shop will
be in.

               

Tax- a compulsory contribution to state revenue, levied by
the government on workers’ income and business profits, or added to the cost of
some goods, services, and transactions.

Income tax: It is tax
levied directly on personal income. The income effect may have positive or
negative consequences on my business, depending on many factors. The income
effect relates to how a consumer spends money based on an increase or decrease
in the income.

Changes of
government- the government can change the
way businesses work and influence the economy either by passing laws, or by
changing its own spending or taxes.

Economy- the state of a country or region in terms of the
production and consumption of goods and services and the supply of money. In a
downturn or slump output falls and many businesses similar to mine shed staff
because sales are falling. The economy experiences a recession. In an upturn or
boom, businesses increase output and hire more staff to keep up with extra
demand.

Levels of
employment- the more employees you have the more help you get but the
less you have the less your business will be successful.

 

My business
ideas will work because:

They’d be better and more advertisements.

Fewer competitors.

It’s different because:

If you spend more than £20 you get 15% off. If you spend £50 you’ll get a £10 voucher.

 

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