Introduction.

Introduction.

In this project i have to set up my own small business. I have to create an original idea for the business and also have to learn how businesses manage and review their finances and other resources. I will find out how businesses study their performance and also how important knowledge of financial management is for effective planning and evaluation of a business.

The name of my business- LC Family Photography

I have chosen this idea as photography is one of my interests and that i extremely enjoy doing. I will also benefit from meeting new people when working.

In my business I will be a sole trader. This means i will be completely responsible and all the profits will be mine. However i could have chosen to have a partnership which is where me and one other person own the business together. Problems may have arose from this such as arguments about the business and its future. I could have also had a Franchise. This is a business which is a set of stores that are bought and sold. I will have employees to work for me to be able to satisfy more customers needs. This will also enable the business to be the best in the local area in terms of quality.

The service will provide professional photographers to take photographs of families in the studio. The product of the business will be small, medium and large edited or unedited printing's of the available photographs took in the session. There will also be a DVD option where up to 20 photographs can be chosen and put on the DVD. These can also be edited or unedited depending on what the customer wants. There will be special packs available too such as prom packages.

I will be working from a shop/studio. As well as customers coming in to the shop to book a session they will also be able to book over the phone and on the website. The location of the shop/studio would be in the town centre in Corby as that is a local public place therefore people will see it all the time.