Tuesday 27 March 2012

Describe the legal and financial aspects that will affect the start - up of the business

Good morning year 13

well you can start by carrying out the online regulation and compliance survey on business link by clicking here. Then you can look at the University of Reading's regulations page on food premises and food handling here.

Then you can download their checklist here.
  • How much will the premises cost to operate in running costs, what return is she looking for from this space and how does it compare with the contribution it makes currently - you may wish to make an appointment with the burser!
  • How much would a similar size premses cost if you had to pay a full commercial rent www.daltonsweekly.com might help with this
  • Do you need to buy any additional equipment, what will you need and if so how much will it cost (take a picture of Messa Cafe and compare that to what you have and make a list of what you might need to add. (There may be an apportunity to interview Hamad on site and discuss your ideas with him and maybe use his suppliers for a quote!
  • Who will supply you with food ingredients? Savona Provisions, Bookerfoodservice or 3663 may be worth a look.  Delice de France may also be able to support this.
  • What staffing rota will you need for the target sales forecast and how much will these cost.  Again you may wish to ask this when you make an appointment with Georgina Patten.
  • What will your pricing policy be considering that we are a charity based operation !  
  • What are your break even figures, for this you will need contribution, sales figures and fixed and variable costs!
  • WHat does your cash flow forecast look like?>
  • WHat sources of finance will you be using, grants, loans, private equity, borrowing, sponsorship and why.
  • How will you keep records? and what records will you keep?
  • Will you need a personal survival budget if you are to do this after sixth form as a living? What would you need and why?
For P4 part one you need to cover the following in relation to your proposed business venture.  Work as a team and play to your strengths.

After researching the above right up what what you need to know and what you need to do before you start trading and what you need to be mindful of and continue to check you are complying to after you have started trading to keep you on the right side of the legislation! Submit the first draft for me to feedback on before  Monday 16th April 2012 so I can get it back to you by the next lesson.

Good luck and enjoy, P4 Part two will be delivered next week.

Mr T

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