Create Initial Choice with airSlate SignNow

Create initial choice

the initial choice the first and the foremost thing for one to consider while planning to start a new business is the type of business there can be said to be three main options to choose from here one manufacturing to services three trading manufacturing products the first option is the option to start a business which creates goods for consumers to use manufacturing is the process of turning raw materials into finished products this process involves a lot of research and development and in most cases large set up costs manufacturing can be a very time-consuming process meeting long term commitments also the compliance regulations for manufacturing units are very high such units have to undergo a large number of quality and safety checks further the manufacturer needs to also plan fairly about distribution of products to proper sales channels example clothing manufacturers manufacturing apparel for the consumer to wear let us take by example the work done by you actually from starting a t-shirt manufacturing business to selling finished products one first the manufacturer needs to invest in R&D on the different types of materials used for manufacture and t-shirts and the various processes involved to the materials and processes which you would like to use keeping in mind the set up and operational constants three third step would be to register the business with the local authorities and obtaining all the necessary licenses and permits for fourth step would be setting up operations and procurement this process would involve buying plans and machinery procuring raw materials in hiring labor the fifth step would be designing and manufacturing and preparation of marketing materials this process would also require the manufacturer to protect his designs six the sixth and final step will be to set up sales network this can be done in-house through retail and online stores with your third party wholesalers distributors and resellers rendering services the second option is to provide services the services provided can be strictly aimed towards other businesses so it can be provided to consumers and public at large or vote services providers mostly work on a one-time basis or on a long-term subscription basis for a certain amount of fee this fee can be on fixed rates or on floating basis depending upon the types of services rendered service providers have a very flexible line of work depending upon the industry and type of services that deal in providing a service mostly demand the provider to possess certain number skill sets a professional inventory to render the desired service as effectively as for the general agreement on trades and services gaps there are four types of services depending upon the territorial status above the consumer and service provider at the time of services being rendered the cost rendering services has comparatively low that's starting a manufacturing unit example housekeeping service providers rendering services for daily maintenance of a hospital residential facility commercial immunity workplaces for public use let us take by example the work done by service and rendering such services first the service provider needs to identify the type of establishment he wants - Carter - in some of them we find number of man salary required this step involves scouting for possible clients in the area where the service provider is based on obtaining police verification of the manpower hired to the second step would be to select the materials and processes which would likely be required to provide housekeeping services we're providing services to households this step would be easy as almost all materials are provided to the service provider by the consumer also one employee can cover multiple households in this scenario we're providing the services to the rest the setup cost on equipment requires some input in terms of equipment and cleaning materials as these would be required to be arranged by the service provider also the manpower required for providing services to such units would be more as they would be working on dedicated areas three third step would be to register the business with the local authorities and obtaining all the necessary licenses and permits police verification mentioned in the first step can also be done here fourth step would be setting up operations in acquiring clients this process would involve buying the materials and equipment needed as put it five the fifth step signing workers their duties and area this can be done on changing roster visas six the sixth and final step would be to make sure services rendered our quality and having a positive feedback from the consumer this can be done through creating daily consumer feedback reports to filled by the consumer after the service and ask their supervisors or their third-party quality auditors trading trading at products and services provided by various manufacturers and service providers trading is probably the most cost effective of the three options in this process the business promotes and sells the products manufactured and services rendered by different manufacturers and service providers of the one room can be said to be a part of trade trading of goods can be done either in wholesale quantity or through retail or both example traders operating departmental stores selling products of daily need let us take by example the work done by a trader running a departmental store one first the trader needs to make a list of all the commodities he would like to trade from his store this can include a wide range of products - the second step would be to select appropriate and highly crowded location to set up the store 3 the third step would be to become a reseller / distributor from the company's manufacturing the products are from wholesalers to get competitive pricing before the fourth step would be directed through the business with the local authorities and obtaining all the necessary licenses and permits would be to set up an inventory management / supply chain management and billing system using SKU / barcodes from the desired products for training also in the step hiring of store managers inventory keepers and cashier and delivery personnel needs to be taken care of to start with bicycles are a very cost-effective method to deliver goods locally summary so before starting a business a person should consider the type of business one wants to pursue keeping in mind the opportunities and resources available including the feasibility of setting up a business in such activity keeping employing local players already active in the desired area and the demand present in the market after this comes the face when we start just start to develop our unique business idea and it is not necessary for the idea a number of departmental stores found in the same area in such cases of business one makes him unique by providing goods which other players in the area are mount or by bringing new products not available easily or known to the local public [Music] [Music] you