Management of finance: Video playlist

20 year old Russell Asquith identifies a gap in the market for a dry-cleaning business as his home town didn’t have one. He finds funding through the Doncaster Chamber of Commerce and the Prince’s Trust, and invests £28,000. The business is doing well and Russell is now keen to open more outlets. The how and why of the start-up is explained.

Students can brainstorm all the costs required to start a new business. If they were to set one up in their area, what sort of business would have a good potential market, and where should it be situated. Half the class could work on identifying: ‘In what ways will it be easier to open the second outlet, having succeeded with the first?’ The other half can consider: ‘What problems must he prepare for in opening the second outlet?’ Compare the case study featured with setting up a dry cleaning franchise.