unit 36 business P1 and P2
The purpose of this assignment is to conclude that an initial business plan is necessary. As the business that I have chosen to the build is a comfort food restaurant and take away.
My business idea is home cooked food away from home, for people who have moved far away from home, or just need a bit comfort from food. In that the food which will be made will be all home cooked and freshly prepared dishes. There will be a variety of different dishes that will be healthy and homely, as well as linking to a shop that will provide me with different types of comfort food hampers that will be made each day. All of the home dishes will be freshly made, with both daily menus and dishes that are on the menu all of the time. The business type I have chosen to do is a sole trader, which small business that is between 1 and 10 employees. The advantages of a sole trader are that all of the profits go to the owner, and that they don’t have to get anyone else’s permission to do what they want to the business, as they have full control of the business. The disadvantage of a sole trader is that they have unlimited liability, which means that is the business goes into financial difficulties, there is no limit in the amount they can take.
The other type of business that I could have chosen is a partnership this where they is between 2 and 20 partners. The advantage is that there is shared work, as well as different skills and abilities and the ideas that they have can be consulted and developed. The disadvantage of this a partnership is that the profits are shared, as well as all ideas and decisions must be consulted and agreed by all of the partners. Another disadvantage is that there is unlimited liability that is to all of the partners.
The other type of business that I could have chosen to do is a franchise which is a business that is already established and you just but the right to use their name and products, however you have to give a high percentage of the profits
My business idea is home cooked food away from home, for people who have moved far away from home, or just need a bit comfort from food. In that the food which will be made will be all home cooked and freshly prepared dishes. There will be a variety of different dishes that will be healthy and homely, as well as linking to a shop that will provide me with different types of comfort food hampers that will be made each day. All of the home dishes will be freshly made, with both daily menus and dishes that are on the menu all of the time. The business type I have chosen to do is a sole trader, which small business that is between 1 and 10 employees. The advantages of a sole trader are that all of the profits go to the owner, and that they don’t have to get anyone else’s permission to do what they want to the business, as they have full control of the business. The disadvantage of a sole trader is that they have unlimited liability, which means that is the business goes into financial difficulties, there is no limit in the amount they can take.
The other type of business that I could have chosen is a partnership this where they is between 2 and 20 partners. The advantage is that there is shared work, as well as different skills and abilities and the ideas that they have can be consulted and developed. The disadvantage of this a partnership is that the profits are shared, as well as all ideas and decisions must be consulted and agreed by all of the partners. Another disadvantage is that there is unlimited liability that is to all of the partners.
The other type of business that I could have chosen to do is a franchise which is a business that is already established and you just but the right to use their name and products, however you have to give a high percentage of the profits