Aspects of operating a small Business
A small business usually has smaller than one hundred employees. Many restaurants, cafes, function caterers and takeaway outlets are run as small businesses.
Most owners of small businesses claim that working in their own business is enjoyable and rewarding but it is also very time-consuming and hard work. To ensure success, small food ventures are encouraged to write proposals prior to establishing new business.
A proposal includes:
Factors to Consider when operating a small business
Economic
Legal
Environmental
Commercial
Most owners of small businesses claim that working in their own business is enjoyable and rewarding but it is also very time-consuming and hard work. To ensure success, small food ventures are encouraged to write proposals prior to establishing new business.
A proposal includes:
- A description of the business-where, what and why
- A market analysis-the opposition and opportunities, strengths and weaknesses of the business
- A marketing plan-how the business will be promoted
- A financial plan-where finances will be obtained and how income is expected
Factors to Consider when operating a small business
Economic
- Equipment and decor
- Menus
- Advertising
- Rent
- Utilities such as water and gas
- labour costs
- Food
- Insurances
- Cleaning
- Taxes such as GST
- Loans
Legal
- Business registration
- Council approval
- Legislation-health and hygiene, Work Health and Safety, Fair trading, Industrial
Environmental
- Environmentally friendly packaging
- Recycling glass, paper, water and grease
- Energy saving techniques
Commercial
- Producing goods and services that consumers want
- Setting prices to cover costs and that consumers are willing to pay
- Appropriate location and operating times