Unit 36 – P1 Kojar Ahmed
In the following report, I will talk about my business idea and what I wish to achieve from it, I will talk
about the location of my business, why I want to open it and what type of business it will be.
I’ve decided that the business I will start will be a barbershop, this is because they are in demand and
will have a wide target market. The only negative to choosing a business idea such as this is over
saturation due to the sheer number of barbershops available in the local area. I have decided to
open a barbershop in order to build some self-independence and be my own boss, as well as to earn
a decent amount of money that I may not be able to get with a minimum wage part-time job.
I chose to open a barbershop specifically as opposed to other services because they are usually
smaller, making them easier to manage. Also, I can easily buy the goods required for one in bulk
without having to worry too much about perishable goods and variety. Not only will this save me
money but it will also allow me to invest in other areas of the business, such as setting up an online
presence for advertising and printing leaflets/flyers.
I have decided that my business will be brand new, with hopefully potential in the future to build on
it and make it into a franchise. I have decided that my
business will be called World Wide Cutz, as a shout out to its
unique selling point. The unique selling point I have decided
for my business is that it is technologically advanced and will
include wide uses of tech in the process, such as allowing
customers to make appointments online and integrating
hardware that allows customers to design how they would
like their hair styled, workers would then use this as a
template when cutting their hair.
I would like my business to get as big as possible, hopefully in around 2 to 3 years I would have made
enough to open another store which I can then integrate into the franchise. However, this will be
based upon whether or not the market is big enough and how successful my initial business is. I will
also have to consider what resources are available to me in terms of materials and goods.
If I truly want my business to be successful, then I will require a large amount a money which I can
then invest into the success of my business. In order to get the cash to start and support my business
I will have to come up with a business plan which consists of balance sheets and profit and loss
accounts, these will help me manage my finances and predict any future losses. As well as this, I can
use this business plan and present it to a bank or organisation which may provide me with a loan if
they like my business idea or believe it will be successful. The money from this loan will go to buying
the physical property for the business and getting a business license, I can also use it buy the general
goods required for the business.
In order to ensure my business succeeds I will have to manage the level of demand I am generating
as well as how successful my unique selling point is. To do this I will have to keep track of my online
presence and read reviews that have been written by customers, I can the use these reviews to
improve upon any aspects of the business the public are unhappy about. The unique selling point for
my business is not only its increased use of tech, but I will also incorporate charity fundraisers in my
advertising. For example, for every £50 spent in our store we will donate £2 to a selected charity.
Depending on the area where I open my business, the demand may vary. If there are a large variety
of barbershops in the area then I am likely to lose out on customers due to the competition, this will
also decrease the overall demand for my product. To maximise demand, I can make sure I open my
In the following report, I will talk about my business idea and what I wish to achieve from it, I will talk
about the location of my business, why I want to open it and what type of business it will be.
I’ve decided that the business I will start will be a barbershop, this is because they are in demand and
will have a wide target market. The only negative to choosing a business idea such as this is over
saturation due to the sheer number of barbershops available in the local area. I have decided to
open a barbershop in order to build some self-independence and be my own boss, as well as to earn
a decent amount of money that I may not be able to get with a minimum wage part-time job.
I chose to open a barbershop specifically as opposed to other services because they are usually
smaller, making them easier to manage. Also, I can easily buy the goods required for one in bulk
without having to worry too much about perishable goods and variety. Not only will this save me
money but it will also allow me to invest in other areas of the business, such as setting up an online
presence for advertising and printing leaflets/flyers.
I have decided that my business will be brand new, with hopefully potential in the future to build on
it and make it into a franchise. I have decided that my
business will be called World Wide Cutz, as a shout out to its
unique selling point. The unique selling point I have decided
for my business is that it is technologically advanced and will
include wide uses of tech in the process, such as allowing
customers to make appointments online and integrating
hardware that allows customers to design how they would
like their hair styled, workers would then use this as a
template when cutting their hair.
I would like my business to get as big as possible, hopefully in around 2 to 3 years I would have made
enough to open another store which I can then integrate into the franchise. However, this will be
based upon whether or not the market is big enough and how successful my initial business is. I will
also have to consider what resources are available to me in terms of materials and goods.
If I truly want my business to be successful, then I will require a large amount a money which I can
then invest into the success of my business. In order to get the cash to start and support my business
I will have to come up with a business plan which consists of balance sheets and profit and loss
accounts, these will help me manage my finances and predict any future losses. As well as this, I can
use this business plan and present it to a bank or organisation which may provide me with a loan if
they like my business idea or believe it will be successful. The money from this loan will go to buying
the physical property for the business and getting a business license, I can also use it buy the general
goods required for the business.
In order to ensure my business succeeds I will have to manage the level of demand I am generating
as well as how successful my unique selling point is. To do this I will have to keep track of my online
presence and read reviews that have been written by customers, I can the use these reviews to
improve upon any aspects of the business the public are unhappy about. The unique selling point for
my business is not only its increased use of tech, but I will also incorporate charity fundraisers in my
advertising. For example, for every £50 spent in our store we will donate £2 to a selected charity.
Depending on the area where I open my business, the demand may vary. If there are a large variety
of barbershops in the area then I am likely to lose out on customers due to the competition, this will
also decrease the overall demand for my product. To maximise demand, I can make sure I open my
