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Amarjit would like a part-time job whilst raising her son - Edexcel - GCSE Business - Question 20 - 2016 - Paper 1
Question 20
Amarjit would like a part-time job whilst raising her son. She has been offered a franchise selling healthy drinks and meal plans to help people lose weight. The com... show full transcript
Worked Solution & Example Answer:Amarjit would like a part-time job whilst raising her son - Edexcel - GCSE Business - Question 20 - 2016 - Paper 1
Step 1
Run a HealthyLife franchise
Answer
Amarjit should choose to run a HealthyLife franchise for several reasons. First, the HealthyLife brand has been established since 2000, which suggests a level of market stability and consumer trust in the products and services. This brand recognition can significantly reduce the risk associated with starting a new business, as consumers may already be familiar with and prefer the HealthyLife products.
Second, operating under an established franchise provides Amarjit with a support system. This includes training, marketing materials, and a ready-built customer base, which can be particularly beneficial for someone balancing part-time work with parenting responsibilities. The franchise may offer operational guidelines and a structured approach to running the business, allowing her to focus on customer care rather than starting from scratch.
Additionally, a franchise may provide ongoing support and resources, making it easier for Amarjit to manage her business efficiently while still having time for her son.
Step 2
Set up her own business as a sole trader
Answer
On the other hand, setting up her own business as a sole trader could offer Amarjit greater flexibility and control over her work. As a sole trader, she can make all decisions independently, tailor her services to meet her preferred market needs, and operate her business according to her schedule, which might be more appealing given her parenting responsibilities.
However, this path may come with higher risks, as she would bear all the challenges of starting and maintaining a business without the backing of an established brand. This includes going through the initial phase of market entry, dealing with customer acquisition, and managing operations without any franchisor support.
In conclusion, while setting up her own business offers independence, running a HealthyLife franchise likely provides a better mix of stability, support, and brand recognition, which might suit Amarjit's current situation better.