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A service providing entertainment: skate boarding - Essay Example

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To plan a business in this modern, civilized and global world is no joke, the businesses have high failure rates and very few chances of success, it has been seen that manufacturing based businesses are very difficult to operate as they contain a lot of overhead costs, the production process, a complete monitoring of each and every unit, a large amount of human resource and specially a very big amount of working capital with high number of share holders with preferred stock and also a great risk of capital sunk, relatively service based businesses are easy to start and also there is not a big risk involved, most of the entrepreneurs in today's world are emphasizing on the service based firms …
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A service providing entertainment: skate boarding
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Download file to see previous pages The business that has been planned to start is service based or more formally a small business, in which entrepreneurs are more encouraged, the idea is to provide the people with a skate board service in a park in any relevant area of the city, as the competition is not that much in this particular service business, so there are fair chances to survive and to grow, this is a wonderful opportunity to actually attract the youth from other entertainment activities to this one as young generation would love to learn it.
The service that is being provided is a new one in terms that there is almost no one to offer this sort of entertainment to the children and the youngsters, the idea is not just limited to provide a simple park for skating but it includes providing the service for skate board, roller skating and simple skating, however it has been tried to the level best to introduce a park which provides both the services such as roller blade skating and skate board, first of all we have to conduct a research to identify whether there is a need in the target audience or not, few basic things that should be kept in mind are the target audience, their age range, their gender and the level of consumption, and also we need to keep in mind the location which is of course important as we need to facilitate the customers as much as we could without compromising on the profitability, the best location that is suitable for such service is the area which is heavily crowded and also it should have the maximum passage in comparison with other areas so that it can be easily approached by the entire city, of course we would have to hire the place in the park on rental basis so it is not quite risky, but the real result would be concluded after the research as there might be other areas where people have more willingness to use such an entertaining service, for this purpose we have to start from the first step that is the existing problem and than its solution. The problem statement is prepared by keeping in view the businesses and the success, which it can provide, the statement is,
"To allocate a business which is requiring less control on management and finance while has a tendency to return greater profit in terms of break-even mark, or a business that ...Download file to see next pagesRead More
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