Aripita Avenue Essay Example for Free

Aripita Avenue Essay Description of the business The name of the business that i will be establishing is Jagroops doubles. The business will be located on the corner of Aripita Avenue and Rosalino Street. The business will be selling doubles and soft drinks, the consumer will be able to choose the type of sauce they want on their doubles for example mango sauce, shadow benni sauce, pepper sauce or cucumbers The business is going to be a sole trader, because I would like to own my own business, make all the decisions and most of all receive most of the profits The objectives of the business are to make profit, supply a good to the people and to provide employment. Justification of location The business will be located on Aripita Avenue because the road is well travelled on mornings and on weekends it is a popular liming area in addition doubles are very popular with people when they have finished liming. Parking is also readily available for people who want to come and purchase doubles. Selection of appropriate labour The business will have three persons working. Two people will be making the barra and channa and sauces while the third person will be handling the sales of the stand, while I prepare the doubles and pack them. The hours they will be expected to work will be from 3am to 9am from Monday to Friday and on Saturday from 10pm to 4am ( to facilitate the night life) The workers are skilled because doubles is a specialty food item and will need experienced workers who will know how to prepare it. Sources of fixed and working capital The fixed capital will be obtained from a loan from the bank, the business will borrow a sum of eighty thousand dollars ($80,000) for a period of five years and will have a monthly payment of nineteen hundred dollars ($1900). The fixed capital will be used for purchasing a stand which will be used to sell the doubles from, also a motor van will be purchased to transport the food and stand from the place that it will be made to the place that it will be sold. The working capital of the business will be made from the day to day sales and is comprised of stock, bank and cash. An example of the working capital will be the inventory of the business, the doubles, because they will need to sell goods in order to make money. Role of the entrepreneur The role of the entrepreneur is to provide the capital of the business. He will also have to be a good leader to the staff to ensure that they know what is to be expected from them. The entrepreneur will have to make sure that everyone in the business is doing their job properly and efficiently in order to maximise profits. Also he will be responsible for all the decisions that area to be made in the business. Three functions of the entrepreneur are: 1. The factors of production – the entrepreneur organises the factors of production and allocation of resources and uses them efficiently in the business. 2. Management – the entrepreneur is responsible for the management of the business, making sure that everything in the business will run smoothly. 3. Risk – the entrepreneur faces the risk of unlimited liability, meaning if the business was to fail he would be the one responsible for paying off the bank loans. Type of production This business will fall under the category of primary production because it will not require a lot of knowledge to produce this kind of food. The workers will require some knowledge to make the product but that will be minimal knowledge. Level of production For this business they will only be producing doubles to the local public of the country. The reason for this is because the food product will go bad within a matter of hours if not stored properly. The product doesn’t have a shelf life meaning it will go bad if it were to be placed in a grocery or super market. Quality control measure To ensure that the business will be selling the best product available the business will only be buying the best quality products available. Also we will not be producing the good with more than three hours in advance in order for the customer to get the freshest food possible. Use of technology The technology that the business will be using is a scale to measure the weght of the barra so that it will come out with a consistent weight and size. Also a van will also be used to transport all the equipment from the headquarters to the selling place. Linkages This business will only have backwards linkages, these linkages will be with the persons that they buy raw materials from for the business Potential for growth The potential for growth would be to open up a second stand in a different location, for example one on independence square in port of spain, to make more profits. And internal growth would be to start selling other products for example allo pies and fry bake. Government regulations The business will be required to register the name of the business with the Registrar of Companies. As well as having to get the appropriate food badges in order to sell the doubles, they may be more difficult than they would assume because this process could take a couple of months. They will have to comply with the health departments regulations such as washing hands before entering the work place and wearing gloves when serving the food. Ethical issues The ethical issues would be not using expired products and only using the freshest ingredients available to them. Table of contents 1. Description of the Business 2. Justification of location 3. Selection of appropriate labour 4. Sources of fixed and working capital 5. Role of the Entrepreneur 6. Type of Production 7. Level of Production 8. Quality Control Measures 9. Use of Technology 10. Linkages 11. Potential for growth 12. Government Regulations 13. Ethical Issues 14. Bibliography Bibliography 1. Notes from school 2. Essential Principles of business for cxc by Alan whitcomb and Sylbe Hamil