Introduction -
Arifi's Estate Agents will be located in Marylebone. It is in the tertiary sector because it provides a service to its customers. The reason why I have decided to choose this business is because everyone needs a home to live in, everybody wants to me in a comfy, suitable home and that's what Arifi's Estate Agents provides for it's consumers. It provides 100% customer satisfaction.
Aims -
- To still be in the business for the next 2 years
- To increase sales by 10% in the next 3 years
- To extract money from services every year
Objectives -
- I will provide the knowledge to my workers on how to sell the properties to its customers.
- I will sell 10% more properties every 3 months
Start up costs –
Rent
Fixtures
Utilities
Rent – the
cost of the property
Price of the property -
£331 per week (rent)
Location –
Marylebone
Fixtures –
2 computers (PC) SONYVAIO From currys £999
Sofa
– price £1550 from IKEA
2
Computer desks £99.98 from Argos
2 Office
chairs £199.98
Stationery
– Ruler £1, Calculator £1, Drawing pins £1, Blue tack £1, Sticky tape £1,
Notebook £1, Highlight Pens £1, Feltip pens £1, Envelops £1, A4 Paper £1, A4
Documents £1, Bubble wrap £1.
Utilities
–
Phone bill/ Internet bill/ T.V - B.T. - £13 ( includes – unlimited wi-fi, BT Smarttalk, BT family protection, BT
home hub, 2GB Bt Cloud.
Electricity - £240 (3months)
Water bill – £300 (1 year)
Insurance – £250 (1 year)
Total cost = £22,867.92 for all Equiptment Per Annum
FAMILY -
A main way that having family advice helps is that you can
have someone you can certainly trust. Also usually family members who are
involved with each other in a business are usually more committed to its
success. Also there usually much more motivated in doing what it takes to make
the business survive and grow. Also when a family member also owns his/her own
business is likely to help you a lot in your business because it has a wide
range of ideas on how to keep your business up to track.
LAWYER/SOLICITOR
A solicitor would give you many legal ideas. One of the main
reasons to this is because it will have ties with other professionals and local
businesses. Also a solicitor would usually be able to recommend to you a
suitable mortgage dealer that will help with a simple deal.
C.A.B – citizens
advice bureau –
C.A.B offers a free confidential and independent advice.
There advice helps people to resolve their problems whether it be with debt,
benefits, employment and other issues
COUNCIL
One of the main advantages on having a council when opening
the business is that the council would know a lot about the local area
B.I.S (Business
innovation skills - They would provide you with information of
different types of business in the UK which will give you a better range of
ideas on what to do when opening the business
MENTOR The
main benefits of having a mentor is that they can alert you to any new
opportunities, they can help you develop new skills that would be needed for
your job. Also they help answer tough
questions to their career path.
2B) Some of the competitive advantages the business may face are the following -
- Lower costs - the lower the costs are the more profit the business will earn because it wouldnt have to spend much.
- Location of business - Location of the business has its advantadges, 1 of them is that the area is a high quality area.
- Producing much more proffesional managing skills - The business will have proffesional managing skills which will lead the business to success by making the businesses evironment a perfect place to be.
- Selling properties that are affordable and suitable for individuals
Marketing -
Strengths of the business -
- Passion working in an estate agency. - Having passion in working in an estate agency is a huge strength as it will make you always aim to earn the best in your business by working your best.
- Large deposit for the business. - Having a large deposit is a huge strength in opening a business as you would waste majority of the revenue on opening the store for your business and have a small deposit for a different invesment.
- Excellent communication skills - Having excellent communication skills with customerswould be a huge success in your business as it would show the business as somewere to go. for workers it's also a big strength as it would make workers happy and satisfied at their work place and you wouldnt have to have the risk of loosing workers.
- No experience - no experience in working in estate agency would be the main weakness in opening the business as you would have no knowledge of the business so then that would lead to you having to take a huge deal of training on how to manage with that type of businesss which would lead to a waste of money on opening the business.
- Having to pay other workers - Having to pay other workers could also be a weakness of the business depending on how much income your business recieves and on-top of that having to pay more workers would mean you would not earn enough as you expected.
- Customers - Having a high amount of customers is a big opportunity in succeeding in your business as the more customers you recieve the more your income increases and the more popular and successful your business becomes
- Married couples , Old couples , young couples (Looking for a property)
- Competitiion - Competition would be an extreme threat to my new business as it could recieve much more customers and that would mean my business would not earn as much income as expected to earn.
- High rent - High rent is another essential problem and threat to the business because with a high rent, it causes a lower chance of you earning enough income.
- Failure of the business - If the business had a big plan on what it wanted to achieve and what its goals were and it didnt meet that target it would lead to failure of the business which would could mean the business would not be present for much longer.
Personal Strengths -
- ICT GCSE qualification - Recieved a B qualification in my I.C.T. GCES's
- Productive - once i have my target i work towards to produce that specific target
- Hard working - Im a individual that always stays on task, whatever tasks i have been set i always set out to achieve them and never complain about the work i get asked to do.
- Responsible worker - In my past carrears and experience with different retail jobs i have been trusted with anything
- Management of time. the late nights i have makes me a extremley tired individual in the early mornings.
- Distraction - Im an individual who gets easily distracted from many things such as internet, friends etc.
- Lack of qualifications - havent received much qualifications apart from GCES's in I.C.T, Science and Geography.
- Workers may be more experienced
- Experience - have had 2 years experience of customer service and have excellent communication skills to communicate with workers and consumers.
- Team work - My 1 year at JD Sports taught me how important team work is and how much of an advantage it is e.g. it gets tasks finishd better and earlier.
Training would take place while the business is running to give the workers a rough idea about what the business aims and objectives are. The organisation will always sell afordable properties to its customers.
Extension Task 2 )
Benefits to the customer for a business going online -
Different methods of payments credit/debit -
Some companies will give you price protection which is usefull if you spot a product you have just bought now available at a sale price. also another benefit is that its a quick process, instead of having to go all the way to the shop then waiting to pay using credit/debit card can be very simple jus by confirming the bank card detail then the transcation is complete. another benefit is that the customer can also access their money anywhere in the globe.
Task 3B) Match skills and abilities to 2 job opportunities
In my past career in JD Sports i was a successful team worker as many difficult individual tasks i was set out to do i would gather some other workers for us to make the task easier by working together and it worked and we got the job done faster and much better than i would have myself.
As the manager i will identify some of the personal skills me and my workers posses -
Manager's skills -
- I posses professional leadership skills
- I am determined to become a successful business man
- I am motivated on making my busines the most successful estate agents in marylebone
- I am always on task and never loose focus so easily
- I have also had a 2 year maangement experience with a company named H2C which sells online designer clothes.
- Excellent communication skills
Employees skills -
- Providing customer satisfactory
- Always on task
- Providing polite manners to customers
- Having focused attention on the customer
- Posetive on selling properties
- Excellent communication skills
