Spice Checken

LONDON

Getting started
For SPICE CHICKEN:

Evaluate your personal motivations for starting a business.

Develop a comprehensive business plan covering:
a. Mission and activities.
b. Operational strategies.
c. Target customer base.
Perform a SWOT analysis to assess strengths, weaknesses, opportunities, and threats.
Determine the amount of capital accessible for investment.
Communicate your intentions with family members to garner their support.
Decide whether the business will operate on a full-time or part-time basis.

Committing to your business

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For Spice Chicken:
1.
2. Define the customer "challenge" and illustrate how your business can offer a
distinctive solution.
3.
4. Assess market viability: Is there a demand for your service?
5.
6. Identify existing businesses achieving success presently.
7.
8. Ensure ongoing relevance: Will your business remain pertinent over time? How

Report date
Spice Checken
LONDON

will you adapt to changes?

9.
10. Define your target market:
11.
12. Who comprises your ideal customer base?
13. What is the scope of your market?
14. How feasible is it to attract customers?
15. Validate your concept by engaging potential customers in discussions about it.
16.
Analyze how customers currently address this challenge and explore
competitors' offerings.

Report date
Spice Checken
LONDON

Setting up your business

• Choose your business name. Conduct a corporate name search to ensure its availability.

• Register a domain name and secure social media profiles for the company.

• Apply for an Employer Reference Number with HMRC and obtain local or regional
business licenses.

• Determine compliance with zoning laws regarding home-based businesses in the

neighborhood.

• Obtain a PO Box if you prefer not to use your home address as the primary business
address.

• Set up a separate phone line if you wish to use a dedicated business number.

• Decide on the appropriate legal structure for your business: Corporation, LLC, or Sole
Proprietorship.

• Establish your website.

• Implement an accounting and record-keeping system:

Consider hiring an accountant.

Choose an accounting system.

Report date