I wanne do some practices

Dial a Dog Wash

In June 2007 Paul Stamp set up a dog grooming business. He had always enjoyed working with animals and had been thinking about a business venture for some time. When the company he worked for closed suddenly, he used his redundancy money to buy the resources needed to set up the business.

He took advice from his local bank who had a small business adviser and she suggested that he needed to look at the pet grooming industry and carry out market research about competition and the costs of setting up in business. He had some idea about setting up a business and he carried a combination of primary and secondary research about the dog grooming industry. He discovered that the dog grooming industry was worth £35m in 2005 and this had grown to £40m in 2006. He also knew about the importance of producing a business plan which contained all the information needed to give his business a chance of succeeding.

Paul called his company Dial a Dog Wash and initially worked from home. He bought a van and went to customers homes to wash and groom the dogs. He advertised in the local paper and put fliers through houses letterboxes. The business started off well and in the first three months his sales were in line with the budget figures. In his business plan he had produced these budget figures:

Table 1 Dial a Dog Wash Budget Sales June – August 2007
June July August
Dog shampoos 20 25 40
Nail trimming 10 15 20
Cutting/grooming 15 20 30

After looking at what other companies charged Paul decided to charge £10 for a dog shampoo, £5.00 for nail trimming and £15 for cutting/grooming.

By the end of August, Paul started thinking that he wanted to have his own premises. The business was growing and he was hoping that for the rest of the year, sales would exceed his expectations. He also started to realise that as the business grew the pressure on him increased as well. He had to spend more time with customers, deal with suppliers and also complete the company finances. He had initially set up as a sole trader and was thinking about changing to a partnership so he had someone to help him with the business.
Question One

You are advised to spend no more than 20 minutes on this section

a) What is meant by the term primary market research? (2 marks)
field research which has first-hard information and relevant to the business which is new.
b) What is meant by the term sales budget? (2 marks)
a sales budget shows the planned income for a business over a set future time period

c) State two characteristics of a successful entrepreneur such as Paul Stamp
(1)Research the market information, (2)advertisement
d) Explain one reason why it was important for Paul Stamp to carry out secondary market research when setting up his business (4 marks)
because secondary research has a lot of exist information ,it will be to help he which new is better to get profit

e) Use information in the text and Table 1 to calculate Dial a Dog’s budget sales revenue for June, July and August (6 marks)
June is sales revenue=475,July=625,August=950

f) Calculate the percentage growth in the UK market for dog grooming sales between 2005 and 2006 (4 marks)
（40-35）/35*100%=14.3%

Total 20 marks


Turn over for the next question















Question Two

a) Analyse the possible factors that Paul Stamp should consider when looking for new premises for his business (10 marks)
he has to research about the market, such as location ,Is it good for this business, if somewhere is not rich, I think they won’t . also profit and cost. Does the city which you want to do the business how about the profit you could get, how is the cost could be high or low. demand . must be most important in your business that how many people will consume in the city. and labour ,how is the worker pay each hour. supplier is easy for supply to your business.
b) Paul was thinking of converting Dial a Dog Wash from a sole trader to a partnership. What advice would you give Paul to help him make a decision?
(15 marks)


c) To what extent would carrying out primary and secondary market research guarantee the success of Dial a Dog Wash (15 marks)

Total 40 marks
End of questions

which kind of man you wanna be

summary of business equation

BREAK EVEN=fixed cost over unit contributtion
TOTAL REVENUE=quantity times sell price
MARGIN SAFETY=volume minus break-evn
UNIT CONTRIBUTION=sell price minus variable price
NET PROFIT MARGIN(%)=net profit before tax over sales times 100%
RETURN ON CAPITAL(%)=net profit before tax over capital invested times 100%

how to reduce cost

I couldn't remember how to reduce cost,maybe we learned from last year.I didn't study anything with business by last year,therefore at the moment I no any ideas.But I must do it,if I don't ,somebody will hit me and leave some wounds to me.now I had to get a few deformities with my body.let me back to the topic.How to reduce cost.I only can guess 3 ways to reduce.
1) cut employes
2) reduce overhead
3) improve efficiency
I dont think these 3 ways is good for reduce cost,Just made points with my mind.if someone see my blog and doesnt confess my ideas,pleaes leave any commons which ways are much better.
Thank you a lot

how to increase profit again

I should do it again who is my second business's teacher tell me.How to increase profit has 3 ways to improve.
(1)reduce cost
(2)increase price
(3)increase sales volume
first and second ways are easy to do.the last one let me tell us how to.
if you want to increase sales volume ,has too many ways could help you,for example you can do promotion ,advertisement to attract more customers.
That all,is it good?

How to increase profit and productivity

Those topics are quite difficult for me.
Firstly I read my business hand book hope it would be give me some ideas.(couldn't find anything)
secondly I went to the google search and search about topics.then I find something that is how to increase profit and productivity which is follow:
1. Create Your Winning Team. Surrounding yourself with capable bodies is vital. Whether it be tech savvy or pr wizardry, each team member should bring something different and yet complimentary to the overall skill set.

Really get your hands dirty when dealing with human resources by actually interviewing your potential candidates with one-on-one sessions. By adapting a more hands-on approach towards professionalism, your newly acquired team will be inspired to put out their best efforts. Leading by example is infectious in the workplace.

2. Get Your Supporters Talking. The streets are talking and the web has ears. Potential customers are more responsive to recommendations from friends and family. This positive feedback stems from competent customer service and satisfaction.

By going that extra mile to get the job done, your clients will definitely take notice and spread the word amongst their network of friends. Generating this type of buzz is far more valuable and affordable than throwing thousands of dollars towards a print ad campaign; however, the turnaround requires more time and patience. You may even want to consider a rewards system for leads and referrals.

3. Develop Your Internet Marketing Strategy. Cover all your bases as best you can. So you have positive feedback from your client base and the word is getting around, but not as fast as you would like. The World Wide Web is your next outlet to increase the demand for your services as well as increase your market share.

According to Internet World Stats, there are 1.407 billion users and counting perusing the web. These are all potential customers and with a proper internet marketing strategy, you can up your sites' presence as well as increase traffic.

Email marketing, blogging, posting articles to article directory sites, engaging/contributing in forums and message boards - these outlets will help boost your site's visibility thereby improving the volume and quality of your web traffic. By utilizing social media outlets the likes of Facebook, Myspace and Twitter, your company provides a home base for clients new and old to visit for updates and other pertinent information. Add to the fact that all of the aforementioned web stratagems are free; however, self serving. You have to do it yourself.

4. Collaboration Software. What once required lengthy man hours and salaried micromanagement has been done away with thanks to the SAS (software-as-a-service). This collaboration software phenomenon has revolutionized the process of project management as well as further reduced the need for office space thereby slashing your overhead.

By utilizing web access, your team shares a workspace in real time without having to be under the same roof. Task management, team meetings, and file sharing can be streamlined through a template based collaboration software. It's easy to use and the set-up time is minimal, depending on the software you choose.

5. Goals. Incentives such as cash bonuses and or vacation packages are okay, but without defined goals, your team is more or less competing amongst each other rather than collaborating to accomplish a common goal.

It helps to have a finish line on the horizon to keep those legs pumping. By setting defined goals and posting them for all to see, your team productivity should spike considerably, especially since progress is more easily gauged. If they can visualize the end, your team will know how hard they have to push to get there.

have you changed your mind

Talleyrand famously said: “Only fools never change their minds”.
I can tell you ,I had to change.
I am possessing a lots of company's stock which is "china liantong" ,those were all from half year when would I bought it that was really high price.last friday I changed mind I couldn't still keep stocks.I thought it couldn't give me too many profits for a short term.therefore I on saled half of my total "china liantong" and changed to other stocks which can be made a good profits.
I hope I did right.not like before that I changed one stock ,it was grow sharply.missed be a rich young man