Description of business Essay

This enterpriser lead be orifice a new bank line which go forthing operate as a sole trader. The name of this pargonntage is CJs Seafood joint.CJs Seafood joint will operate under the logo Come have a appreciation of flavor. Operating as a sole trader would mean that the enterpriser would make any the descions himself but would overly have to carry the responsibilities for himself.The important aim of the problem sector is to have e precise customer who comes comes through our doors affect by CJs and will be excited to come again, excessively to execute and maintain a surrounding that is comprehensive and exceptional in its caution to every detail of operation.The entrepreneur also wishes to countenance a friendly, cooperative and rewarding environment which encourages longterm, satisfying, growth employment.To keep the concept hot,exciting and on the peachy edge of the hospitality industry.The descent will be opened on weekdays 800 am to 1030pm,weekends,900 am to 1130 pm also on public holidays. CJs is opened to a chassis of diffe rent persons and age groups.It would be coveinienient to persons who are working long hours and so does non have the time to prepare a proper meal or even a family who is just looking for somewhere dainty and fine-looking to have dinner.CJs will also serve an as accommodation for catering at dinners,weddings and any other events.Justification of topical anestheticization of functionCJs oceanfood joint will be loctated in Kingston at Anns Bay near the sea.The bloodline will do exceptionally well at this location because of its proximity from the sea.Being located near the sea would mean that the vulgar materials needed for the running of the line of work would cost slight bills to transport the raw materials to the business.Also the business will have a dependable source of material this means in that respect will never be a scarcity in fruit.Secondly, beach scenery would also serve as an attraction for both local and international customers,especially the touring car from which foreign exchange would be gained which means to a greater extent pelf for the business.A beautiful beach scenery would provide a relaxed and calm environment which would entise the customers into returning(a) again and having a god reputation would mean to a greater extent customers hence more profits.Selection of appropriate labourFor this business to be ran successfully,the entrepreneur will need to employ both clever and delicate workers.The skilled workers in this business will consist ofTwo Chefs and one administrator chef.These persons will be incharge of the preparation and meal planning of all the advanced menus and introducing new ideas which will motivate the customers in returning.2 Bartenders.These persons would be incharge of qualification refresging beverages and liquors according to the customers preference.The business will also need 5 Cashiers.They will be incharge of the money made on a daily infrastructure and will dissipation a part in the monitoring of the businesss financial transactions and data.In this business the unskilled are just as important as the skilled workers as they play a vital role in the successful running of the business.The skilled will consist of10 Janitors.They will be incharge of the proper nutrition and sanitation of the premises which will give the business a honest reputation for its emmaculate maintenance . 4 waiters and 4 waitresses. They will be answerable for satisfying the customers contendments and should try to get together all of them with no animosity and should be patient in dealing with their problems. 10 fishermen.They will be responsible for expiry out to sea and ensuring that the sea animals needed by the business is always on time and of neat quality. Sources of fixed and working hoodThe business will need both working and fixed capital.The devil sources of fixed capital to be employ by the busines s are A loan of US $300,000 from the National Commercial Bank, to be secured with a mortgage on the entrepreneurs home,which would go towards the purchasing of new equipementrenovating and upgrading the premisispurchasing of more delivery vehiclesThe second source will bepersonnal savings of the entrepreneur of US$10,000 from the Jamaica Mutual Bank which will be used to do the same as the things listed above. The two sources of working capital will be a loan from the bank and personal savings of the entrepreneur .This money will contribute towards paying salariespaying utility billspay rent on the premisesThe money borrowed from the bank will be repaid from the profits accumulated during a period of 10 years of successful business management. Role of entrepreneurThe entrepreneur is one who organizes the factors of deed to create goods and services. The some suitable location, qualified workers, and the right equipment and machinery will take in efficient achievement. It is the refore important for him to make the right decisions concerning the employment of the required resources for his business. He must(prenominal) also make decisions on systems and regalees to be applied in the production process.An entrepreneur has many roles/responsibility, three of which are PLANNINGPlanning is very important to every make believe. It is more important to the entrepreneurs venture because of the uncertainty of success and less room to make mistake. The entrepreneurs focus is on the execution side and how to get the product to the merchandise in the shortest amount of time so as to start relieve oneselfing revenue. operating(a)This is where the entrepreneur starts putting all its business ideas into place .He analyzes his ideas and sees if they are going according to planned. ConceptualizingThis is where the entrepreneur gains an understanding of the business and what he hopes it will be, intersectionThe action of making or manufacturing from components or raw m aterials, or the process of being so manufactured.There are three types of production.They allow inPrimary productionThis includes all kinds of extractive industries such(prenominal) as agriculture, mining and fishing.Secondary fruitThis includes manufacturing such as assembling, refining and construction (building) industries.Tertiary ProductionThis includes all kinds of service industries such as transportation, communication and tourism.The type of production used in the business is primary production.The fishes and other sea animals are extracted from the sea to be made in a finished product to be enjoyed by thousands of customers.Levels of productionProduction is the action of making or manufacturing from components or raw materials, or the process of being so manufactured.There are three levels of production.These include SubsistenceThis is the lowest level of production. Subsistence productions refers to output from the production process that is just exuberant for the su rvival. This amount of production is therefore not adequate to meet all needs and wants of a family, community or a country. For example, subsistence farming involves the production of crops to feed the family and for survival. Wealth is not created as whatever is produced is consumed.Domestic ProductionDomestic production refers to production that is more than survival level. It provides output that is generous to satisfy domestic needs and wants. Excessis not available for export. However, production is adequate to supply local demand.Surplus or ExportThis level of production is adequate to supply local demand and for export. Large industries understructure produce large quantities of output to satisfy local consumption and introduce foreign exchange from export, for example, the sugar and banana industries.The type of production used by CJs Seafood Joint is domestic production.The business provides mostly for the local market.There is sufficient demand locally to absorb all th e produce.Quality cut back measuresThe entrepreneur will make a daily report on the problems or difficulties face on a daily business and tool measures to correct them. The entrepreneur will also be responsible for inspecting the goods carried in on a daily basis to make sure that they are up to standard and are suitable for consumption.TechnologyIn nows world technology has become one of the fastest advancements.In CJs Seafood Joint it will play a vital part in its day to day running. Two types of technology used by the business are a refrigerator and a computer. The refrigerator is responsible for the deliverance of foods and beverages.Without the refrigerators,items will start to them rottening resulting in a loss of money and customers cod to a bad reputation of rotted foods The computers is most important as it contains all the businesss transactions and data.It provides order and allows information to be accessed easily,without the availability of computers everything wil l be chaotic.Potential for growthInternallyWe will be able to expand our initial operation by 80% by our 7th year, however expanding would mean a larger premisis which would require us to go elsewhere for the business to be successful in all its different aspects.We would need to buy additional delivery vehicles also an addition of ten (10) members of staff to share the extra work load.The business would have to move to a similar locatiom,near the sea, so as to not make things difficult in the purchasing and transporting of foods ExternallyIf we can break a good record,we might be able to expand internationally,allowing us to open branches in different countries turning CJs into a multi-national business .The business would so make more money and foreign exchange,also more exposure for the business.LinkagesThe business turns raw materials into a delicious produce to be consumed by our customers. Having a backward linkage helps the business in that there is a reduced dependence on i mported goods since local suppliers provide the raw materials for the producers.The linkage will allow the business to source fresh produce,to minimize delivery time and transport costs and to maintain a close relationship with the product suppliers to ensure product quality.Government RegulationsThe business must apply to the Commissioner of Taxes to be a registered taxpayer, the business will earn atleast at least JMD 2,000,000. The application for GCT registration must be submitted at heart 21 days after taxable activity has started. A unpredictable GCT certificate will be issued to the company upon receipt of the application for GCT. Documents to be submitted are the following1. Completed application for TRN Number Organisations2. NIS number verificatory that the company is not yet liable to National Insurance. 3. Certified replica of Articles of Incorporation4. Authorisation letter if the TRN application is being made by a third party. The business will be affected by the h ealth and safety regulations ,particulary with regard to oil spills.The entrepreneur must be familiar with all legal requirements for occupational health and safety,and must ensure full compliance.Ethical IssuesCJs will make the aspect of ethical issues priority as it relates to the development of the business. CJS Cuisine will sweat to do its best in not to be involved in ignoring health, safety and environmental standards. The business will ensure that all these aspects meet the necessary requirement in order to avoid instances such as food poisoning .we will aim to meet a good nutritional standard for all meals,with a balance of proteins and other requirements.