Description of business Essay

This entrepreneur know out be opening a brisk crinkle which go out manoeuver as a sole trader. The name of this teleph unrivaled circuit is CJs Seafood joint.CJs Seafood joint provide operate under the logo Come cast a mouthful of flavor. Operating as a sole trader would humble that the entrepreneur would charter exclusively the descions himself but would as well as countenance to carry the responsibilities for himself.The main aim of the backing enterprise is to have every node who comes comes through our doors impressed by CJs and leave be insane to come again,also to create and maintain a surrounding that is comprehensive and special in its attention to every detail of consummation.The entrepreneur also wishes to interpret a friendly, cooperative and rewarding environment which encourages longterm, satisfying, egress employment.To keep the theory fresh,exciting and on the cutting edge of the hospitality industry.The task volition be cap adequate on week days 800 am to 1030pm,weekends,900 am to 1130 pm also on public holidays. CJs is opened to a variety of different persons and age groups.It would be coveinienient to persons who ar on the job(p)(a) long hours and so does non have the time to prep are a proper meal or even a family who is just feeling for somewhere nice and beautiful to have dinner.CJs go forth also serve an as accommodation for catering at dinners,weddings and any other events.Justification of locationCJs seafood joint will be loctated in Kingston at Anns Bay near the sea.The handicraft will do exceptionally well at this location because of its proximity from the sea.Being laid near the sea would mean that the novel materials chooseed for the running of the transaction would cost less property to transport the raw materials to the origin.Also the business will have a dependable source of material this means there will never be a scarcity in turnout.Secondly, brink scenery would also serve as an attr action for both topical anaesthetic and international customers,especially the tourist from which foreign exchange would be gained which means to a greater extent profits for the business.A beautiful beach scenery would provide a relaxed and quieten environment which would entise the customers into returning again and having a god reputation would mean more customers thus more profits.Selection of appropriate labourFor this business to be ran outputively,the entrepreneur will need to employ both practiced and good workers.The skilled workers in this business will consist of devil Chefs and one executive chef.These persons will be incharge of the preparation and meal plan of all the sophisticated menus and introducing new ideas which will motivate the customers in returning.2 Bartenders.These persons would be incharge of making 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 chance(a) basis and will play 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 rattling role in the successful running of the business.The skilled will consist of10 Janitors.They will be incharge of the proper maintenance and sanitation of the premises which will give the business a good reputation for its emmaculate maintenance . 4 waiters and 4 waitresses. They will be responsible for satisfying the customers requirements and should try to satisfy all of them with no animosity and should be patient in dealing with their problems. 10 fishermen.They will be responsible for going out to sea and ensuring that the sea animals involve by the business is always on time and of good quality. Sources of resolved and working ceilingThe business will need both working and fixed capital.The two sources of fixed capital to be use by the business are A loan of US $300,00 0 from the guinea pig moneymaking(prenominal) 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 nest egg 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 avail billspay rent on the premisesThe money borrowed from the bank will be repaid from the profits accumulated during a period of 10 geezerhood of successful business management. Role of entrepreneurThe entrepreneur is one who organizes the factors of takings to create goods and services. The most suitable location, qualified workers, and the right equipment and machinery will fasten efficient harvestion. It is theref ore important for him to agnise the right decisions concerning the employment of the necessitate resources for his business. He essential also propose decisions on systems and subroutinees to be utilise in the production process.An entrepreneur has many roles/responsibility, three of which are preparednessPlanning is very important to every venture. 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 market in the shortest amount of time so as to start earning revenue. OPERATINGThis is where the entrepreneur starts putting all its business ideas into pasture .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, takingsThe action of making or manufacturing from components or raw materials, or the p rocess of macrocosm so manufactured.There are three compositors cases of production.They entanglePrimary ProductionThis includes all kinds of peculiar(a)ctive industries such as agriculture, mining and fishing. unessential ProductionThis 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 enough for the opti on. This amount of production is therefore not seemly 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 any(prenominal) is produced is consumed.Domestic ProductionDomestic production refers to production that is more than survival level. It provides output that is enough to satisfy domestic needs and wants. Excessis not available for export. However, production is adequate to supply local guide.Surplus or ExportThis level of production is adequate to supply local demand and for export. Large industries can produce large quantities of output to satisfy local consumption and earn 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 the produce.Quality c ontrol measuresThe entrepreneur will make a occasional report on the problems or difficulties face on a daily business and implement 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. applied scienceIn todays 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 icebox and a computer. The refrigerator is responsible for the preservation of foods and beverages.Without the refrigerators,items will start to them rottening resulting in a passing play of money and customers due to a bad reputation of rotted foods The computers is most important as it contains all the businesss transactions and data.It provides nightclub and allows information to be accessed easily,without the availability of computers everything will 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 spare 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 acquire 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 juicy produce to be consumed by our customers. Having a backward linkage helps the business in that there is a reduced dependence on m erchandise 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 be and to maintain a close relationship with the product suppliers to chink 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 within 21 days after taxable bodily function has started. A temporary GCT certificate will be issued to the company upon pass on of the application for GCT. Documents to be submitted are the following1. Completed application for TRN subjugate Organisations2. NIS number confirming that the company is not yet liable to National Insurance. 3. Certified copy 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 culinary art will endeavour 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 quash 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.