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I. Read these extracts and decide which sections of the business plan checklist they come from.

a. I will be concentrating of getting business into profit. But if I am not successful I will consider looking for other sites in the city and expanding the management team. Eventually, it may be possible to set in shops in different regions around the country.

e. I plan to advertise on local radio and in the local press. This will be complemented by flyers distributed through letterboxes to residents in the area.

b. Initially the business will be registered as a limited company with ten shareholders.

f. I have already worked as an employee in two different companies where I was involved in both marketing and customer service at junior management level.

c. In a street with pedestrian access only which leads into main shopping area in a town of 70,000 inhabitants. The shop is also close to the station which is used by several thousand people daily. The surface area is 45 square metres at a rent of 1000 euros per month.

g. It will probably be trade within the shopping area. The target consumer is middle-aged and with a comfortable income. There is no competition in the area as the concept for the shop is new and comparable products are not available in other outlets.

d. Retail outlet selling a wide range of specialist teas and tea-related giftware. Sales will be made direct to customers and also by mail order.

h. Two full-time sales staff for the shop. One personal assistant to do secretarial work and general office administration.

Business plan checklist

  1. Details of the business

Name of the business

Type of business (limited company, partnership, etc.)

  1. Personal details

Relevant work experience

  1. Personnel

Number of people / job function

  1. Product / service

Description

    1. Market

Describe your market. Who are your customers? Is your market static, growing or in decline? Who are the main competitors? What are the advantages of your product or service over the competition?

    1. Marketing

What sort of marketing or advertising do you intend to do?

    1. Premises / machinery / vehicles

Where do you intend to locate business and why? What sort and size of

area will you need? What machinery / vehicles do you require?

    1. Objectives

What objectives do you have for the business?

II. Think of a business you would like to set up. To get a loan from the bank

In order to establish the company, you should present your business plan.

Prepare the plan using Business plan checklist.

MODULE 7

Products

Vocabulary

  1. adjust

  • adjustable

  • appeal (to)

  • afford

    • affordable

    1. attractive

    2. breakthrough

    3. complain

    • complaint

    1. currency

    2. design

    • well-designed

    1. dimension

    2. economy

    • economic

    • economical

    1. encourage

    2. enhance

    3. environment

    4. exploit

    5. extend

    6. facility

    7. feature n, v.

    8. fault

    • faulty

    1. generate

    1. hard-wearing

    2. high-tech

    3. invent

    • invention

    1. light adj

    2. link

    3. long-lasting

    4. manufacture

    5. modify

    • modification

      1. novelty

      2. protect

    • protection

    1. quality

    2. quantity

    3. power

    • powerful

      1. remove

      2. robust

      3. supply

    • supplier

    1. tax

    2. user-friendly

    3. weigh

    • weight

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