assignment 1 unit 19

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Unit 19 Assignment 1 - Pitching for a New Business - Copy

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Level 3 national foundation, diploma in business, unit 19 assignment 1 – pitching, for a new business, dan goldblatt s.

Within this evaluative report I will demonstrate to potential investors that I have fully explored the potential ideas for a new micro-business start-up and internal and external factors associated with a selected micro-business start-up. I will also carry out research into the potential opportunities for a new micro-business start-up.

P1 - Describe the potential business

Opportunities for a micro-business start-up., micro business ideas.

The first idea that I came up with is a small cake shop. The USP of this business would be that we have a website where customers can order custom cakes that they can design online which they will be able to come and pick up when its needed. It will be environmentally friendly by using all locally produced ingredients like eggs and flour and by using biodegradable paper packaging instead of plastic. This business would be a mix of the secondary and tertiary sector because the cakes are being made and produced in-store and they are also being sold to the customer as a final product. I would hire a baker to make the cakes and 2 employees to design and finalise the design on the cakes that the customer's request. This business would be flat structured as I would be the manager and there would be 3 employees helping run it. It could be successful because it is an easily accessible way to get cakes made professionally and locally. Another USP could also be that we provide gluten free and vegan cakes this would attract more customers from a different market and increase brand awareness.

because there aren't many other businesses like this, and it is easily accessible and affordable for customers to use.

This final idea for a micro business is an online pick and mix shop. This business will have a website where customers can order different sized bags of pick and mix and customise and choose their own sweets that are inside. This business is in the tertiary sector, and it is selling goods. We will get the different types of sweets from a wholesaler that sells a lot for a cheap price and then customise the bags for what the customers have requested. The size of the business will be small with one or two other employees. It could be successful because customers can order their own selection of sweets and customise it to the ones, they enjoy the most, and then have it delivered to their door for a reasonable price.

P2 - Review the factors that need to be considered to

Start up a micro-business., decision matrix.

I am going to use a decision matrix to decide out of my 4 micro business ideas, which one will be the best to use and start up.

Decision matrix analysis works by getting you to list your

options as rows on a table, and the factors you need consider

as columns. You then score each option/factor combination,

weight this score by the relative importance of the factor and

add these scores up to give an overall score for each option.

The scores go from 1-5, 1 meaning it is poor and 5 meaning it is

good. Then to get the total score you time the scores by the

weight ranking in that category. The weighted ranking is how

important that factor is for a start-up micro business, 5 being

the most important and 1 being the least.

Factors Environ mental influen ces

Financi al constra ints

Access to physic al

Availab ility of IT

Time constra ints

Total score

This is the business I am choosing to use. Environmental influences are at a 3, the influences come from the car pollution that must be used to travel to the customers house but that can be changed if an electric car or getting public transport is available. Financial constraints are at a 5 this is because to start-up this business It wouldn’t cost a lot of money, the main things you would need is a car barbering tools and petrol. Access to physical resources is at a 5, this is because it is relatively easy to pick up tools to start barbering. Availability of IT is also at a 5 because not much IT is needed, all you would need is a phone to receive bookings and a marketing page to promote the business. Time constraints is at a 4 this is because there is pressure on the barber arriving on time and finishing the haircut on time, this is important for customer reviews because if the barber is late then bad reviews will be left and it may leave a negative mark on the business. The rating of the factors is the highest for this business therefore I will be going ahead with is as I think it is a good start-up business to pursue and will be the most successful.

• Multiple Choice

Module : Business

University : london south east colleges.

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