Guide to Starting a Decorator Business: Planning and Execution

This report outlines the essential steps for starting a decorator business as a sole trader. It emphasizes the importance of a well-defined business idea, a comprehensive business plan, thorough market analysis, and sound financial planning, including start-up expenses and financing options. The report also highlights the significance of selecting an appropriate business location and developing effective marketing strategies to promote and grow the business, suggesting innovation such as developing a business app to enhance reach and service delivery. The document is available on Desklib, a platform offering a range of study tools and solved assignments for students.

Marketing

Table of Contents
Assessment 1:...................................................................................................................................2
PART A...........................................................................................................................................2
1.Steps for starting a new business as Decorator-..................................................................2
REFERENCES................................................................................................................................4
1

Assessment 1:
PART A
1.Steps for starting a new business as Decorator-
Business can be a occupation,profession or trade is a commercial activity which focuses
to provide goods and services with a primary motive to earn profits. There are different forms of
business for example sole proprietorship, partnership, limited liability company, cooperative and
corporation (Tipu, 2018).
David Green is planning to start a sole trader business as Decorator. Every new business
owner starts somewhere,there are some points which can be considered while starting a new
business of decorator which are explained below-
 A Business idea- David green will require to start with an idea that actually works to
stand out. It enables the business to begin with a new product or service that assists in the
initial start. Decorator is that field which requires a proper formulation of business ideas
with a lot of planning and control to start.
 Organize a business plan- After deciding a business idea next step is to organize a
business plan. Starting a new business is risky so, it is better to have a written plan with
desired results and goals. The written plan is the best way to stay on track. A business
plan is essential for small business to create a road map for planning to know about its
target buyers (age, sex, income, preferences) , services,, requirements and marketing. One
should focus on the main components of a business plan.
 Market and demand- The next step in order to establish a decorator business, It is
essential to understand the market and its demand by customers. Search out about the
competitors, their businesses and techniques to understand which marketing techniques
they have mastered or used to retain and attract the new customers.
 Figure out finances- When a new business is launched initial investment is required to
bear the expenses before earning money. In the decorator business, one can use self-
financing. As self-financing is the most common mode to fund by personal savings,
credit cards, selling personal assets and bank loans (Uma, 2018 ).
 Start-up expenses- The business of decorator needs to estimate the initial and total cost
for the smooth operations. It should decide the size of the business and make a proper list
2

to know the impact of expenses like registration, preliminary expenses,legal fees,
materials and many more on the business.
 Pick business location- The business will require to pick a location that can be right for
the business which can be easily accessed by the clients, suppliers and choose such
location which is nearby the transport, stations, hubs, shopping districts and public
infrastructure(Smith and Bold, 2018).
 Promote and grow the business- Also, there must be a market plan that will help in
advertising the business to reach out to new people. It will take time to publish its
existence. There are many platforms available on social media to enhance its business to
the next level(Harris, 2018)
 Innovation- The business can develop an app also for its decorating business so, that it
can reach to many people and they get to know about what kind of services are being
provided. It can also contain the work done in the past and services provided along with a
descriptive introduction.
3

REFERENCES
Books and Journals
Harris, T., 2018. Start-up: a practical guide to starting and running a new business. Springer.
Smith, K. and Bold, M.R., 2018. The publishing business: A guide to starting out and getting on.
Bloomsbury Publishing.
Tipu, S.A.A., 2018. Business plan competitions in developed and emerging economies: What do
we still need to know?. Journal of entrepreneurship in emerging economies.
Uma, P., 2018. The Map To Your Entrepreneurial Journey. Notion Press.
4