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The BBQ Van will work in the leisure and hospitality industries. The leisure industry in London is expanding, creating possibilities for new businesses to flourish (Nathan & Lee, 2013). There aren't many businesses in the hospitality industry that can compete with BBQ VAN. On three Renault custom-designed vans, BBQ VAN plans to sell unique cooking styles using charcoal grills for kabab. In the industry, no other firm offers comparable goods. Only organic ingredients can be used in food preparation.
The corporation will be headquartered in London. London has the support facilities that the enterprise would need to operate. There is room for expansion within the city thus ideal for starting the company. The high population in the city presents a substantive market for the new firm`s products. London also has favorable business policies that promote entrepreneurship (Robson, Chamberlin, & Freel, 2016). Appropriate authorities have been notified and permitted to set the company.
The company will have four employees at inception. It will recruit more staff as demand for labor goes up. One team will be in charge of operations and acquisition of raw material for use by the company while another will be in charge of the receiving payments and managing financial records of the firm. Another employee will be in charge of cooking and prepare the various types of meals the company will deal with. The remaining employee will be maintaining facilities of the business, welcoming clients and serving the dishes. The four workers will be exchanging roles every week.
BBQ VAN expected to turn over per year is 1:187200. Anticipated profits are 1:207600. The initial capital investment is $50,000. The high turnover is expected due to the large customer base and the reduced cost of doing business in London. The company products are in high demand hence BBQ VAN will not advertise its products to attract customers. Offering unique and differentiated products will also differentiate the firm`s in the market enabling it to create its brand in the market.
Boella, M., & Goss-Turner, S. (2013). Human resource management in the hospitality industry: A guide to best practice. Routledge.
Curran, J., & Storey, D. J. (Eds.). (2016). Small firms in urban and rural locations. Routledge.
Kvedaraite, N. (2014). Reasons and obstacles to starting a business: Experience of students of Lithuanian higher education institutions. Management: Journal of contemporary management issues, 19(1), 1-16.
Nathan, M., & Lee, N. (2013). Cultural Diversity, Innovation, and Entrepreneurship: Firm‐level Evidence from London. Economic Geography, 89(4), 367-394.
Robson, P., Chamberlin, T., & Freel, M. (2016). 9. The capitalization of new firms: exploring the influence of entrepreneurial characteristics on start-up finance. Entrepreneurship, Innovation and Regional Development, 170-184.
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