Entrepreneurship Assignment Example | Topics and Well Written Essays - 750 words

Entrepreneurship - Assignment Example 2. Business idea. To put up a company to be engaged in providing health care services, sell health beauty products and provide therapeutic relaxation thru the establishment of a Turkish bath, sauna and spa in UK. 3. Business name and Business structure. Business name and structure will have to be registered with proper authorities before it could start operations. A big fine and penalty will be slapped to owner for failure to register. Tentative name of MT Wellness will be registered for availability of trade name. If no one uses the name, then it will be registered and nobody can use that name while it is in operation. If necessary, a trade mark can be registered. Business should be registered in the locality where business will operate and another registration is needed if it will have a branch in other state. 4. Finance structure. Capital is required in starting a business and this could come from borrowing, bank loans, financing from friends and family, commercial mortgages and money coming from the owner. A study should be done to come up with an appropriate loan package for the business proposal. 5. Management. The business calls for hiring qualified people to help owner run the company. There are several processes required in selection and hiring of employees. Owner should have a right mix of people qualified for employment in the business. Owner needs to determine the following: Company will keep products on top of the line and look for new and innovative products and services to satisfy customers, first by keeping subscription on trade magazine for trends both local and abroad. Look for new inventions that can be used by the company. 9.2 Advertising. On line selling and marketing is one way of advertising the products and services of the company. Company should get help of advertising experts for the design to make it attractive. 9.4 Pricing. There is a need to come up with the correct strategy of