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retail business - Coggle Diagram

- - - - not many people around for employment
      - far away from suppliers
      - not close to infrastructure
      - far away from customers
    - - away from competition
      - land is cheap
      - parking is easy
      - open spaces
  - - - difficult to find premises
      - parking issue
      - expensive land
      - more competition
    - - close to transport
      - close to employees
      - close to customers
      - complementing retail outlets
  - - - larger stores will sell same thing for cheaper
      - might not have everything
      - prices may be to expensive
    - - more unique stores with personal taste
      - local community trade is supported
      - supported greatly by community
- - - - can employ as many people as they want
      - tend to be a small business
      - one person runner
      - can do it as a hobby and can enjoy it
    - - unlimited liability - can loose personal items if go into debt
      - has to work all acounts
      - banks wont lend money to small businesses so it can be difficult to set up
    - - get to keep all profit
      - can do whatever you want so it can be enjoyable
      - your, your own boss
  - - - more finance in the business
      - partners can focus on there strengths instead of doing everything this can excel the company rapidly
      - responsibility is shared through all workers this means less stress for people
    - - if a partner act bad the company will suffer
      - unlimited liability. can loose personal products if go into debt
      - arguments and disagreements
    - - solicitor and accountants usually
      - partnership needs to be drawn up with legal documents
      - 2-20 partners
  - - - advantages
        
        don't have to think of ideas for name and styles
        
        marketing done for you
        
        free advice from the bigger company
      - diadvantages
        
        no freedom
        
        have to pat a large amount of money upfront
        
        pay roll every month
    - - disadvantages
        
        gives a bad reputation
        
        loose a degree of control
      - advantages
        
        franchisee deal with the day to day running of business so no stress
        
        receive royalty fees every month
        
        very quick and easy way to expand the business and earn a lot of money