Business Sole Trader storyboard
Storyboard Text
- Hey!! Are you curious about what a Sole Trader is! A sole trader is a business that is Solely owned by one person! This is usually a small to medium business that is a specialised service, like a hairdresser, or a small store like the one behind me. Let's get going! We have a businessman to visit today. He works in a self owned barber shop!
- As stated before, a Sole Trader Usually has an SME (Small to medium enterprise) This is a business that has less than 10 workers. These businesses usually have problems in growing as they have little resources and money, these are some of the problems a sole trader needs to endure. Lets meet the Businessman
- Lets talk to our special invite today, Peter is a real Sole Trader, what is it like to be one and what are some of its benefits?
- Being a Sole Trader is fairly easy, although it has its problems, as you carry out every decision without any other worker, it is easy to set it up and cheap to set it up, also, I get to have all profits, and I allocate the budget I want to the business and the money I get for myself, I get to make every decision as Im my own boss, In my barber shop, I allocate the budget for the equipment, I decide the business days, and how my business is decorated.
- Now that we've talked about the good things, what are some of the disadvantages of being a sole trader?
- What is a Sole Trader.
- Well, as of the disadvantages, one thing is that I have to manage everything, and it is a lot of responsibility for myself, I get all the profits, but I also have to pay the debts, and I can lose all my money. Also, I work too much hours, and if I get sick, I stop gaining profit as I need to stop working. Because when I get sick I can not do someone's hair, also, I have to pay for the rent of the building and buy the equipment, which isn't particularly cheap, I also have to handle my work even on sundays, as the phone number is operative 24/7 to set up the appointments
- Now I wonder, how does your business expand? It surely has to be hard to grow if you're all alone
- What is an SME
- Well, it's really hard, especially if you're a newcomer to the industry, You hagve to advertise your company all by yourself, to get you known all over the town, and if you're alone and try to make a living profit out of it, it's hard to grow initially, but eventually you get used to it and get better! I personally had my issues with growth in my barber shop, but eventually more and more customers come
- Questions to a sole trader (Adv)
- Well, certainly now I know how tough it is to be a sole trader, and what I need to do to be successful, I know all the benefits and all their disadvantages, hope we both have a successful business career!
- No Problem! Lets hope that both our businesses become the titanic superpowers of this beautiful city! We will become the best Sole Traders in this place
- Questions to a sole trader (Disadv.)
- Expansion of a Sole Trader
- Conclusion
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