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Business Accounting assement 2 - Essay Example

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After the market analysis, I felt the need to start a stitching business. The stitching service which I will provide will make the lives of people easier by taking order both…
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Business Accounting assement 2
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Business Accounting assement 2

Download file to see previous pages... The name of the company will be ‘Fit Stitch’ as it is a very short name and it shows the nature of business as well. The official website of the company will be published with the URL name www.fitstitch.com. Currently there is no company offering services with this name therefore, Fit Stitch will become a trademark for my business.
The nature of the business will be sole proprietorship, which means that I will be the sole trader of this business and I would be liable to bear all profit or loss. Moreover, in this kind of business, only I would have the decision making authority, however, to increase the participation of my workers, I would take their input before making any business decision.
Fit Stitch aims to offer affordable, outclass, quick and convenient stitching services it to its customers. Our skilled and expert designers offer outstanding stitching services for all kind of dresses. Our ultimate aim is to satisfy our customers while achieving break even profit.
The company will offer its services in Lisbon, Portugal. There are two basic reasons because of which I am targeting Lisbon market: the first, it is my home city; second, the market need. Fit Stitch will target all these market segments including men, women and kids. Attracting customers who get their clothes stitched from tailors will be easier because most of these people are sick of the prices of tailors and they usually feel very boring when it comes to visit the tailors. Since we will be offering online service and with some extra charges we will also offer the facility to get order from home, therefore, most of the customers will find it very convenient. The customers who prefer readymade garments will also find Fit Stitch services convenient, affordable and creative therefore, they will be also attracted by Fit Stitch.
The only weakness of this product is the geographical limitation. Since, the budget is limited therefore; Fit Stitch cannot offer its ...Download file to see next pagesRead More
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