Assignment On Defining A Business

1542 Words Feb 3rd, 2016 7 Pages
Defining a Business
My business “Pappa Tommy“ is a bar and restaurant. I have chosen this name because I want the customers to have a warm atmosphere when they enter my business and that they know Tommy will cook great food for them. The main products that my business will provide are noodles, rice, seafood, chicken and drinks because it is both a bar and restaurant.
This business will categorise under the service business because we offer services such as cooking and table service. A service business is doing a service for a customer such as house maintenance, accounting and education. A trading business consists of purchasing finished products and goods from manufacturers for a low price and selling it to customers at a retail outlet for a higher price. Examples may include clothing and electronic stores that are found in shopping centres. Finally, a manufacturing business produces the goods by an assembly line which is a production process. It includes large machinery which transform raw materials into completed goods. Examples of a manufacturing business include clothing, food and cars.

Business Operation
The type of business ownership structure that Pappa Tommy will have is a partnership. The reason being for this option is because when setting up a restaurant, you will need people that can offer a wide range of skills such as being a lead chef, organising the raw food and products and to keep a strong financial status. This will allow for a better flowing business…

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