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Sole Trader Startup Business Strategy - Assignment Example

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The purpose of the present assignment is to develop a comprehensive business proposal for a stationery shop. The writer of the assignment will discuss the legal aspects of bootstrapping a new business and conduct a financial analysis of its potential…
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Sole Trader Startup Business Strategy
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Download file to see previous pages The business will be located at a strategic point at the junction between Pace Street and Learners Street, which leads to Wales College. As a student in the college, I believe the business will pick very fast as the other stationery stores sell their products in wholesale hence locking out potential clients who want to buy single items. In five years time, I see readers point being the leading stationery seller in Brickston and having several tenders in the college and other institutions of learning as well as other big companies within Brickston. Supplying clients in their offices will reduce the cost of storage as I buy the goods from my supplies and take them to my clients. It’s also time-consuming for my clients. I intend to open two more shops but the target is getting tenders from various institutions so as to cut on costs of renting premises as well as personnel. As a purchasing and logistics student, I know the business will make huge profits if I buy the supplies in bulk and sell them in single pieces. I believe that the good quality of my products will sell the products and not getting products at a low price due to the low quality of the goods. The location of readers point is a big plus to my business venture due to the college and other offices in pace street. As a young and new entrepreneur, marketing survey and strategies for my business is essential so as to meet the needs of my clients to get the most reliable and affordable suppliers for the goods I intend to sell. Consistency is key to business success hence the need to get suppliers who have the capacity to supply the shop according to the growing demand. A continuous research in the stationery industry before, during and after startup is important so as to get trendy and new products. The store will open from 0700am – 1900pm due to the diversity of our clientele; the college has evening classes hence there is a need to accommodate all of them. The shop will have four employees each working on a six-hour shift. They will be required to come in fifteen minutes before their shift begins and leave fifteen minutes later to ensure a smooth transition from one employee to another without interrupting with the normal running of the shop. Preparation at all stages of the business is important. Set up cost Initial renting property:? 3,500 Renovations and decorations: ?10 000 Purchasing of Stock: ? 25,000 Legal costs:? 1,500 Total set up cost:? 40,000 Overheads Rent: ?200 per month Electricity bill: ?150 per month Property Insurance: ?50 per month Monthly loan payments ?100 Total overheads for the first year: ?6000 Monthly Expenditures Monthly Rent: ?200 – the shop is at a subsidized rate as the building belongs to Wales College where I am a student. The institution has a policy on how it charges its students and staff. Monthly electricity bill: ?150 – Readers point will only use electricity for lighting, two computers, and printing. Property insurance: ?50 per month – the stock is very valuable hence should be insured against any risk. Telephone bills: ?70 per month – Communication is very essential for the business as we get orders and supplies for the shop.  ...Download file to see next pages Read More
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