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#3 - Game/Merchandise Store - Coggle Diagram
#3 - Game/Merchandise Store
Finance
Utilisation of Zero Based Budgeting to account for all costs efficiently and appropriately.
Personal Funds/Savings - £5000
Crowdfunding for Start-up costs
Small Business Loans/Bank Loans
Venture Capital
Overdraft Facility - Gibraltar International Bank
Location
Main Street - It is the undeniably greatest area to set up any store which sells commodities in Gibraltar as it is the area with the greatest amount of foot traffic and tourist presence of which we receive over 8 million each year and rising, this makes it the easiest place for customers to find us and purchase from the store
Irish Town, it is located right next to Main street which makes the tourist presence and foot traffic there also quite notable, it is notably less travelled but close enough by that individuals will still seek out the store should they wish for an item we specialise in selling.
Engineer's Lane - It is an offshoot street from Main street much like Irish Town, this means that there will still be plenty of residents within the area who will desire our services and plenty of tourists who may find our store. But it must be state that this is the worst of three options due to the notably less attention the area receives whilst being slightly more so out the way for people not familiar with the area.
Marketing
Referrals/Word of mouth - name passed along by clients, personal relations and workers.
Paid Advertisement - TV, Social media specialists, posters et cetera.
Website - Able to provide reviews on quality of goods and service which can be used to bolster sales and potentially provide requests which could be answered as a marketing and business strategy.
Social Media - Show off store and general area to generate interest in store and goods. Showcase items to entice customers.
Maintaining good relations with the other similar businesses in town to properly manage this business successfully and learn what is best for success whilst advertising a similar quality level to gain sales.
Management
Owner/Store Manager
Sales Assistant
Social Media/Martketing Manager
Part-Time Labour
Business structure - Limited Liability Company
Products
Video Games
Three Major Platforms - Nintendo, Xbox, Playstation
Older games and older consoles - For those seeking out previous generations of games and machinery.
Merchandise of popular games/series.
Plushies
Trading Cards
Toys
Figurines
Posters
Target Clientele
Teenagers - Susceptible to wants whilst possessing agency.
Children - Most susceptible to wants.
Adults - Not as susceptible to wants but they possess the most money for purchases and likely are the ones responsible for purchasing goods for younger clientele.
Business
Operations
Business License and a Retail Trade License
Premises/Planning Permission - For compliance with the Department of Town planning
Health & Safety Risk Assessment
Signage Permit
Music License - for playing background music
Data Protection Registration
Employer’s Liability Insurance - Public Liability Insurance - Contents/Stock Insurance - Business Interruption Insurance - Product Liability Insurance.
Fire Safety Certificate
VAT registration
Personal Features
INTJ Personality Type
Determined/Curious - INTJ's like myself are dedicated to understanding as much as they need to in order to succeed in whatever field they pursue or find themselves interested in to ensure their related ambitions can be accomplished. Furthermore, in combination with this drive we are skeptical by nature which makes us more receptive to hearing out other opinions and facts regarding issues we take an interest in (Provided there is appropriate evidence to the point which makes it correct or more appropriate).
Rational/Informed planning style- All plans are to be backed by as much evidence/research available in order to decide what the greatest possible course of action is for the business.
The greatest flaw of INTJ's is that we can become overly critical and be generally dismissive of others emotions due to not understanding their thought process as we prefer logic and fact.
A simple solution to such an issue is the hiring of an individual vastly skilled with people and for social situations and make them the face of the company when discussing with clients in person and for understanding other employee's opinions and feelings.