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Setting up a new business

g. car and house, and that there is limited cash input. Cash would only be available internally and with loans. The alternative was a private limited company (ltd.) which would have a larger financial backing and limited liability to the value of shareholding, but in the long-term there is less profit and less control when shareholders come in to the plan as well as high set-up costs.Limited companies also have to pay more tax.
             Name.
             The name for the business that I have decided on is Europours, this conveys the message that the company operates in Europe and it also illustrates tours which can be linked to coach tours as this is the most obvious one. Added to this, the name is quite comprehensive in a number of European countries e.g. Germany, should the business wish to expand in to other countries.
             Aims and Objectives.
             The main aims and objectives of the business are:.
             Short-term.
             To survive and break even (Year 1).
             To cut in to the market and build a good reputation by providing a reliable and efficient service (Year 4).
             Long-term.
             To expand to a public limited company and widen the range of services (Year 10).
             To be able to compete well with competition and own a large market share of the British market (Year 15).
             To possibly expand to European markets e.g. set-up in Italy (Year 25).
             Staffing/Training.
             Initially we would need one tour guide to help customers to cope with difficulties and show customers sites and instruct with shopping tours. They will also be required to serve refreshments on trips. The tour guides will have previous experience and preferably knowledge or qualifications in foreign languages and will also need 5 GCSE's with experience being preferable. They will need to be young and enthusiastic to portray the company's image. The coach hire company provides the tour guide on hire contract and we will have to cover any additional training costs to make the guide familiar with foreign languages and cities and sites.


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