Business planning and pitching
Table of Contents
Christina is writing her business plan for a meeting room for hire in Leeds that businesses who do not have a suitable meeting space, or work remotely, can hire to conduct their team meetings or use to meet with clients. As she is writing her plan and conducting her research, she realises that this meeting room idea does not just have to be for Leeds, but would work well in other areas too.
- If you were Christina, would you consider franchising your business? What are the advantages or disadvantages of franchising over opening up another meeting room yourself?
- What are some of the risks to Christina’s business?
- What is your initial reaction to this business idea? If you were a potential investor, what information would you want to know about it?
It is rare that there is just one way to respond to a scenario or situation, so do not consider that the responses you have to the above scenario will be judged as right or wrong. Share your scenario with a work colleague or friend and ask them to tell you whether they think you have responded appropriately. Ask them to challenge your response if necessary. You do not need to submit this task for assessment unless asked to do so by your assessor.