Clothes Shop Business Idea

What are aims and objectives?

Aims are the long term goals that are set by a business. An objective is something that helps you achieve the aims by having short term goals. There are many types of aims and objectives, here are some examples:-

• Make a profit

• Survive as a business

• Provide the quality of a product

• Increase the market share

• Expand sales of profits and expand into new areas of the city

• Improve the quality of a product

• Be environmentally friendly

Why are they important to your business?

They are important to my business as they will provide goals for my business to achieve such as surviving, this would be a shot term goal and making profit would be an aim. They also help give the business a structure to work on and improve on as it grows.

What are your business objectives?

My business objectives are to survive when I first open the business because it is important I don’t fail in the first few months of opening, as many new businesses do because of the risks that are involved.

To break even so I earn as much profit to match my costs so I can review my income and start making a profit, to satisfy customers by providing excellent customer service and quality of products, to be competitive with the competition around me as it will help my business achieve a better status therefore improving the company name and to achieve success by carrying out all of my objectives and achieve my aims.

I will make sure my business objectives are SMART, a method used to make sure my objectives are specific, measurable, achievable, realistic, time :-

1. Specific – Objectives that specify what they want to achieve.

2. Measurable –Make sure I am able to measure whether I am meeting the objectives or not.

3. Achievable – Make sure the objectives I set are achievable and attainable.

4. Realistic –Make sure I can achieve the objectives with the resources I have.

5. Time – When do I want to achieve the set objectives

How are you going to aim to achieve these objectives?

I am going to achieve these objectives by carrying out each task one by one and making sure the business does not fail within the first few weeks of opening. To make sure I earn enough profit to match my costs and to be competitive with different clothing shops within the high street and satisfy my customers