Name: Renee Fort
School: St Mary’s College
State: South Australia
Name of Plan: Zenith Youth
Zentih Youth will be a hair accessories business. I will be providing the staff and students of St Mary’s College and other members of the community with headbands, bobbles and hairclips that I have manufactured.
Zenith Youth is a sole trader with the business consisting of only Renee Fort. Through the utilisation of existing technology, communication, craft and marketing skills that Renee brings to the business, Zenith Youth has been established.
As the business is school based it will be located at St Mary’s College. The stall will be positioned opposite the tuckshop. This is an outdoors location near where most students will pass at lunchtime. The goods will be manufactured in Renee’s home.
Zenith Youth exists as a business for my Year 12 subject Small Business Enterprise. In this subject we are required to write up a business plan and then run the business for 20 weeks. It is merely school based and therefore the target market is 5 to 18 year olds. I aim to reach the following goals throughout the duration of Zenith Youth.
To make 20 and 40% profit
In order to achieve this I am going to price most of my products 25% higher than the cost to manufacture the product, with the headbands being priced 50% higher. This means that if not all of the product is sold I should still make my minimum target profit. My profit and loss statement will indicate whether this objective has been met.
To aim to sell at least 85% of the product that I have manufactured.
I will achieve this by only making enough to cover demand and having a ‘last week sale’ if necessary. By keeping records of how much product has been produced and sold I can tell whether this objective has been met.
To provide a professional service and a high quality product.
This should provide me with happy customers whom spread the word about Zenith Youth. This is one of the best ways advertising as the future consumer is aware of the product quality and service provided. Customer evaluation sheets will be provided to indicate whether this objective has been met.
To be popular with the St Mary’s College students, whom is my target market.
By being popular with them I am reaching one of my targets and should gain good and steady sales. Customer evaluation sheets will be provided to indicate whether this objective has been met.
Staff and Management Requirements
Staffing needs and skills and knowledge required of management
Zenith Youth will be staffed by myself, the business owner. Duties that I need to carry out are as follows:
Communications and Advertising
Placing advertisements in parent bulletin
Carry out surveys
Verbal promotion in school ground
Production and Manufacturing
Production of hair accessories
Purchasing of supplies
Packaging and pricing
Technology and Design
Design of business card and letterhead
Survey layout design
Graphs and tables
Therefore I must have good personal skills along with competent technology and computing skills. I am able to keep books well and am good at budgeting and market research. I have extensive experience in manufacturing this product for personal use and with a background in public speaking and drama I am extremely competent in verbal promotion and advertising. As this is a sole trader business the manager needs to have all these skills to be successful.
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