My restaurant is in a competitive market, in order for my restaurant to attract customers and create a strong customer base and also to gain a large share of the market is to have a good quality control.
Quality control I a process through which a business check and make sure that all the product and service quality is maintained and manufacturing errors are reduced. The main objective of quality control is to ensure that the business is achieving the standards it set for itself. The advantage of quality control is intended to prevent faulty products reaching the customers. Also reducing giving a bad service to the customer, bad service can give bad impression about the restaurant to the customers. I need to make that I check through everything …show more content…
The person who is seeking the finance is solvent and has a satisfactory financial history can easy get the loan. The bank will provide a set figure that been requested by the business and they will repay the amount over an agreed period of time. In most case the bank will charge 2 percent over their base rate of interest for loans, the bank can decide on the interest rate being fixed or variable. The rate can be increased by the bank if they think that lending the loan is risky. This is mostly effected for small start-up business as the bank consider them as more uncertain prospect than larger and more established business. Bank loan also requires security for their loans and tis will usually be in the form of property. If the business was unable to pay back the loan within the time limit, the bank as the authority to sell the property and recoup the money that was …show more content…
A business can use their profit by retaining them for investment in the business for development. Also they can use its profits by distributing to shareholders in the form of dividends. This means the use of profits for investment, the business can avoid interest charges. This method of finance is only beneficial for business during profitable periods, and even then it may not provide sufficient funds to do the development. Reinvesting profit as a source of finance won’t be useful for my business as my business is a new organization and it will bot initially have any profits. However after few month of trading we could use the profit of the business to invest back into the
Quality control I a process through which a business check and make sure that all the product and service quality is maintained and manufacturing errors are reduced. The main objective of quality control is to ensure that the business is achieving the standards it set for itself. The advantage of quality control is intended to prevent faulty products reaching the customers. Also reducing giving a bad service to the customer, bad service can give bad impression about the restaurant to the customers. I need to make that I check through everything …show more content…
The person who is seeking the finance is solvent and has a satisfactory financial history can easy get the loan. The bank will provide a set figure that been requested by the business and they will repay the amount over an agreed period of time. In most case the bank will charge 2 percent over their base rate of interest for loans, the bank can decide on the interest rate being fixed or variable. The rate can be increased by the bank if they think that lending the loan is risky. This is mostly effected for small start-up business as the bank consider them as more uncertain prospect than larger and more established business. Bank loan also requires security for their loans and tis will usually be in the form of property. If the business was unable to pay back the loan within the time limit, the bank as the authority to sell the property and recoup the money that was …show more content…
A business can use their profit by retaining them for investment in the business for development. Also they can use its profits by distributing to shareholders in the form of dividends. This means the use of profits for investment, the business can avoid interest charges. This method of finance is only beneficial for business during profitable periods, and even then it may not provide sufficient funds to do the development. Reinvesting profit as a source of finance won’t be useful for my business as my business is a new organization and it will bot initially have any profits. However after few month of trading we could use the profit of the business to invest back into the