BUSINESS SUMMARY
BUSINESS DESCRIPTION Blow bar, updos and blow dry
LOCATION 5 Pearson Street, Hackney, E2 8JD
PROPRIETOR Emilie Melody-Bristow
STAFF 2 full time hair stylists, 2 part time hair stylists, 1 receptionist
TARGET MARKET All females
OWNERSHIP FORM Sole Trader
BUSINESS NAME There She Blows
Business Name: There She Blows
Business Location: 5 Pearson Street, Hackney, E2 8JD
Legal Form: Sole Trader
My proposed business idea is a blow bar, this a hair salon in which people come to get their hair styled, catering for special occasions such as weddings and proms, nights out, photoshoots and just about any occasion the customer may need at a suitable price. I plan to set up my business as a sole trader, a sole trader is an individual who sets up and runs their business using their own funds but must take full responsibility for any wrongdoings of the business as they have unlimited liability, setting up as a sole trader is the simplest form of business. This is best for my business as it is a small business with few employees and it best for me to maintain and run sufficiently.
The advantages of me setting up a blow bar as a sole trader is that I am my own boss and I control all aspects of the business and make the best decisions suitable to move forward and expand. My independence with the business is a great advantage as being my own boss makes it easier to set up the business, as no decisions have to be passed through other owners. I am able to make decisions about what the business looks like, the name of the business and brand.
As a sole trader it will be cheap to set up, as initially the money to set up the business will come from assets and loans, but as I am a student, the money I have inherited from my Grandfather will help to cover any other costs. The small amount of employees means that the wage will be lower to that if I was in a partnership....