The first spread shows the profit and cost of my business when I use my first selling price of i?? 160. 00. The spreadsheet also shows the fixed cost, total cost, total revenue and average cost of 1 of my products. For my business to make a profit and no loss my business would have to sell 229 products, however this is not shown in the spreadsheet. My business aim is to sell 2000 products, if my business reaches its target I will be making i?? 161,560. 00. I think my business is doing well as my business breaks even at an early stage.

As mentioned before I have to sell 229 products to make a profit this may seem allot however compared to my business target of 2000, 229 is a minor figure. Second selling price The second spread sheet of my coursework shows the profit and cost of running my business. My second selling price is i?? 170. 00. The spreadsheet also shows the fixed cost, total cost, total revenue, and average cost of 1 of my products. For my business to make a profit and no loss my business will have to sell 207 products however this is not shown in my spreadsheet. My business aim is to sell 2000 products, if my business reaches its aim it will be making 181,560. 00.

I think my business is doing well as my business breaks even very early I only have to sell 207 products to make a profit this may seem allot however compared to my business aim of 2000 products 207products isn’t a very large target. What would happen if you had to reduce the price due to competition? If my business had to reduce the selling price of its product it would put my business under pressure as there would be uncertainty as my business would have to sell more products. The break even point would go up this again would mean they would have to sell more products in order to break even.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

What if cost were to increase? If cost were to increase then the business would not be making as much money as they were before as people would be put off by the price. They would rather buy the product from other competitors as they would get the products for cheaper. In order for my business to make money they will have to think carefully on how to allocate money. Questionnaire. I am doing this questionnaire for my finance business coursework. I will be interviewing a shop owner to find out about his rent bills, gas bills, electricity bills, telephone bills and more.

Post Author: admin

x

Hi!
I'm Ella!

Would you like to get a custom essay? How about receiving a customized one?

Check it out