Starting a Business – GCSE Business Studies Revision

This content is also in a video on my YouTube channel:

(I give my channel permission to monetise it and feature it in a video)

Why would someone start a business?

  • To make money
  • To work on their own – not have a boss
  • To help people (such as by donating a portion of their profits to charity)

What are the three ways of starting a successful business?

  • Do something truly original, but that people actually want
  • Do something that already exists, but better
  • Do something that already exists, but cheaper

What is there to consider about locations?

  • Location is important when starting a business, whether it’s from a franchise or not:
  • Franchises can’t be set up near a shop in the same franchise
  • Is your location near major attractions that would mean more customers are near?
  • How old is the population around your location?
  • What competition is near your location?
  • Are there any workers available there?
  • Are there suppliers near the location?
  • Are there decent transport links so workers and customers can get to your location?
  • How much is the rent for your location

About Matt

I like writing, filmmaking, programming and gaming, and prefer creating media to consuming it. On the topic of consumption, I'm also a big fan of eating.
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