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Entrepreneurship and Small Business - PDF

   

Added on  2021-01-02

16 Pages3295 Words404 Views
SETTING UP A SMALLBUSINESS
Entrepreneurship and Small Business - PDF_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Industry...................................................................................................................................1Location..................................................................................................................................1Target customer......................................................................................................................1Business model.......................................................................................................................1Name of business....................................................................................................................2Visual Identity of business.....................................................................................................2Values to promote business....................................................................................................3REFERENCES................................................................................................................................3TASK 2............................................................................................................................................4Primary research for setting up business................................................................................4Secondary research for setting up business............................................................................4Quantitative and qualitative research for setting up new business.........................................4REFERENCES................................................................................................................................5TASK 3............................................................................................................................................6Ethical dilemma which faced in setting up new business......................................................6REFERENCES................................................................................................................................7TASK 4............................................................................................................................................8Explanation of equality and diversity law for appointing applicant in business....................8Rights for new employees in entity........................................................................................8REFERENCES................................................................................................................................9TASK 5..........................................................................................................................................10Assets, liabilities and expenses of organisation...................................................................10Account of business entity....................................................................................................10Methods for avoiding cash flow problems...........................................................................11REFERENCES..............................................................................................................................11CONCLUSION..............................................................................................................................13
Entrepreneurship and Small Business - PDF_2
INTRODUCTIONThis assessment provides an explanation for setting up business in marketplace. In thisreport a Lemado hair salon has been chosen to present factors which needs to be analysed beforesetting up business in market place. Further, explanation of primary research, secondaryresearch, qualitative and quantitative research is explained its importance before starting businessactivities. Lastly, in this report accounts have been generated which provides cash surplus of anentity.TASK 1IndustryThis industry is developed in business of beauty salon. As observed from the beauty hairsalon market of UK, this is the fastest growing industry in UK (Bell, Bryman and Harley, 2018).Nowadays, consumers are influencing with social media trend which was nowadays trending inevaluation concept of grooming and beauty both in male and females. Therefore, idea of settingbusiness in beauty salon among customers of UK is generated.LocationTo reach customers easily in salon, decided location of setting beauty hair salon is inmain areas of cities of London. Location like Whiteleys mallwill be decided in favour ofcustomers so that they will easily accessible by car, and by public transportation. In making surethat client feel safe in salon, it is also decided to fit brightening lights in and outside salon. Thelocation is chosen to keep in mind safety to client because, working customers who does nothave time in the day time will feel safe in reaching to salon.Target customerTarget group of saloons will be females because nowadays, beauty is the thing which ismore important for girls and women's around the world. Women's are the target customersbecause they are the one who mostly spend countless hours in getting their hair cut, teased andsprayed. They want the best service of makeover with countless touches of colours on cheeksand lips which helps them to look attractive (Burns, 2016).Business modelFor earning profit is business, revenue model is selected for the operations of business.This model is a framework for generating revenues in organisation. This model emphasis on1
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developing information related to revenue source which needs to pursue, value to offer amongcustomers and prices of providing services to customers. Therefore, it is the model which helpsin making money for an entity.Name of business“Lemado Hair salon” is selected as name of business, because salon has employees whichare specialist in cutting and styling of hair. Objective of providing this name is to attractcustomers where they will able to take suggestion from our hair specialist regarding special haircuttings (Sekaran and Bougie, 2016). This is why tag line is selected as “Let Them Do”.Visual Identity of business“Lemado Hair salon” has specialist which provide effective and stylish hair cutting tocustomers. This service is opened to dedicate full and effective services to customers and tosatisfy them by rendering excellent service with quality of products in salon. This business alsoprovides comfortable and enjoyable furniture where customers will feel relax and satisfied withacceptable price and valuable relationship to them. Services which offered by institution arefirstly stylish haircuts, relaxers, perms, colours, shampoo, conditioning, curling, reconstructing,weaving and waving. The logo which will be presented for business operations of Lemadobeauty and hair saloon is as follows-2
Entrepreneurship and Small Business - PDF_4

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