P1     Present the initial business idea using relevant criteria

 

Assignment 1

 

Present* your business idea by answering the following questions:

       

1.   What is your business name and what will it sell?

2.   What are the business's aims and objectives?

3.   Will this be a new business or will you purchase a franchise or an existing business

      Click here to see examples of businesses you could buy and note how much they cost.

4.   What tools will you use to plan your business?

5.   What is your business's unique selling point (USP)?

6.   Who will your customers be? (demand)

7.   How will you compete with your customers?  e.g. why will customers buy from you and not

      somebody else?

8.   What hours will you work in the business and will this leave time for your personal/family

      life?

9.   How will you check that your business will be profitable

10.  What are the trends for this business?  E.g. is it in a growing market such as leisure?  Back

      this up with figures.  You can use Google and type the type of business e.g. 'Leisure' and

      'trends'.  If you put "" around your phrase in Google, you could get better results.  E.g.

      "Leisure trends".  This will then only find the whole phrase and not the individual words.

11.  Will government, European or local council actions affect the business in the near or

      distant future?

12.  How will you feel if you run your own business?  (independent, powerful, self worth,

      achievement)

*Present could be in the form of an oral presentation, a wall display, a report or any other way agreed by your teacher.