Cupcake business
Introduction
I conducted extensive market research and I have considered this project, because I found in my survey that having a cup cake shop is a lucrative business. The shop will specialise only in cupcakes. I have my own unique recipes. This is one of the things which is my strength. Not many people have their own unique recipes. To enable my business to prosper I have the notion of implementing special offers, which introduces the business to the customer. I am lucky enough to have found a good chef which works alongside me to create new flavours. The decisions about the recipes are made by me and the chef, but I have the final word.
The structure of the business will be as a Sole Trader. This is the fastest and easiest way of setting up a new business. This type of structure could be danger, because I am responsible with my property.
Location
Finding right location is a main key to maintaining a successful business. The ideal location is the centre of town. There are a lot of people passing by. The research I have done shows me that, there aren`t any similar shops within a radius of 10 miles. Opposite the shop is the town`s main bus station, where people can have cupcakes while they are waiting for the bus. My research shows, that there is Primary school and Secondary school right behind the shop. The parents which collect their children pass by the shop. They can also take a good look at what we are offering by looking at the big window display. The smell of freshly made cupcakes will be one of the things, which the children can catch early in the morning.
Finance
To start up the cupcake business you will need approximately £40,000. I have £10,000 capital, but I will need a loan from the bank for the additional £30,000. The research I have done and the special advice I have been given says, that I am not entitled to get a personal loan more than £20,000. But because of the structure of my business as a sole trader I have an option of getting the
I conducted extensive market research and I have considered this project, because I found in my survey that having a cup cake shop is a lucrative business. The shop will specialise only in cupcakes. I have my own unique recipes. This is one of the things which is my strength. Not many people have their own unique recipes. To enable my business to prosper I have the notion of implementing special offers, which introduces the business to the customer. I am lucky enough to have found a good chef which works alongside me to create new flavours. The decisions about the recipes are made by me and the chef, but I have the final word.
The structure of the business will be as a Sole Trader. This is the fastest and easiest way of setting up a new business. This type of structure could be danger, because I am responsible with my property.
Location
Finding right location is a main key to maintaining a successful business. The ideal location is the centre of town. There are a lot of people passing by. The research I have done shows me that, there aren`t any similar shops within a radius of 10 miles. Opposite the shop is the town`s main bus station, where people can have cupcakes while they are waiting for the bus. My research shows, that there is Primary school and Secondary school right behind the shop. The parents which collect their children pass by the shop. They can also take a good look at what we are offering by looking at the big window display. The smell of freshly made cupcakes will be one of the things, which the children can catch early in the morning.
Finance
To start up the cupcake business you will need approximately £40,000. I have £10,000 capital, but I will need a loan from the bank for the additional £30,000. The research I have done and the special advice I have been given says, that I am not entitled to get a personal loan more than £20,000. But because of the structure of my business as a sole trader I have an option of getting the
Bibliography: (www.about.com, Accessed 22th November). (www.enterpreneur.com, Accessed 22th November). (www.smallbusiness.com, Accessed 22th November). (www.startups.co.uk, Accessed 22th November). (www.ukbusinessforums.co.uk, Accessed 22th November).