Professional Documents
Culture Documents
Planning
Definition:
Planning is deciding in advance what to do, when to do, how to do & who is to
do it.
What is planning?
Setting up of objectives.
Implementation
Location
The location of the snooker club is very important for the success of your business.
You have to find a place which is accessible to all people easily. It would be great
if you can start a snooker club at a popular place like near a shopping mall, Movie
Theater or a college, as it would attract lot of people. However, buying a place at a
popular area can be very expensive.
Instructions
1. Step 1
Put together a business plan so you are sure you have everything you need to
start your business. This is essential especially if you need backing for your
business. A business plan will make a bank take you more seriously than if
you just approach them asking to borrow money for a business.
2. Step 2
Find a place to open your snooker club. A good location can make or break
your business. You may know there is a need for a snooker club in your
neighborhood, so look for a vacant place there to start your business.
3. Step 3
Look for a supplier for your snooker club. This is another important factor
for the success of your snooker club. You need to make comparisons of
different suppliers so you get the best deal for your snooker club. The lower
the cost is to you the better, since this will enable you to keep your prices
low but still make a profit.
4. Step 4
Decide on a catchy name for your snooker club, since this is a big draw to
your new business . Select something memorable because word of mouth is
important and you want something that people won't forget.
5. Step 5
Make sure you advertise your snooker club. You can start with flyers and
signs in the window of your store. If you are in a high traffic area, people
will see that you are opening and spread the word. Newspaper
advertisements are also a good bet, especially ones in a small paper that is
exclusive to your area.
6. Step 6
Set up your snooker club and prepare to open on the date you've advertised
the opening to be. Hire any staff you may need, open your snooker club sand
enjoy your business.
COMPETITON IN THIS INDUSTRY
The competition would be from other snooker and pool clubs in the surrounding
areas. The other competition would be from play station parlor and other gaming
parlors.
SOURCES OF FUNDS
The total cost of starting the project is Rs. 6,30,000. The three partners would
invest Rs 1,50,000 each and a loan of Rs. 1,80,000 would be taken from SBI (State
Bank of India) @ 10% interest.
FINANCE:
Starting a snooker club needs finance more than what would be sufficient for other
business plans. To start a gym business, you would have buy or rent a place, do up
the interiors and also buy exercise equipment. According to the business plan you
make, you have to work out on how much money you would need. To help out in
starting a snooker club, you can either take a loan from the bank or find a person
who is interested in becoming your business partner.
Total budget:
Fixed cost:
4. Que-sticks=15000
5. Music system=5000
8. TOTAL=630000.
After expenses:
1. Per game=rs.70
2. Minimum games in a day 40 on both tables=70*40=2800 in a day.
3. In a month=2800*30=84000
4. Monthly rent=10000(bal.74000)
5. Electricity bill=5000(bal.69000)
7. Remaining BAL=Rs.64000.
9.60000*12months=Rs.720000
10.60000*10.5 months=Rs.630000
3months=60000*3=180000
6months=60000*6=360000
9months=60000*9=540000
12months=60000*12=720000
-Entertainment Taxes.
A police clearance is required from the local police to set up this club since it is
important for the police to know the past of the people involved in the business.
-A tournament will be organized for all snooker players through which the club
will get promoted among the different people who would participate in the
tournament.
-Hoardings
-If both tables are busy then other games like chess & carom will be available for
waiting customers.
HUMAN RESOURCES:
In this business a lot man power is not required since it is not a big place. Any one
of the three partners will be present in the club.
-One receptionist to handle the front desk and give information to the customers.
-One person to take care of the cleaning and maintenance of the place.
• The over-expansion of a firm’s output would lead to rise in costs and thus
covert economies into diseconomies.
• They lead to decreasing long run average costs for firms within the industry.
• They lead to increasing long run average costs for firms within the industry
AVERAGE
COST
Conclusion
The world won’t conform to your business plan, but you still need one. The more
prepared you are, the better equipped you’ll be to deal with random things
happening.
Setting up a business needs time, effort and capital. A business should be set up
with long term goals in mind.
Profit making should be one of the top priorities because the more revenue that is
earned just proves how successful the business is.
Get your nearest and dearest onside. My family knew that starting my own firm
was what I really wanted to do. Their emotional support was absolutely crucial.
My dad’s assistance with the accounting was also very useful.