Task 1
(a)
Revive Gym
Revive, an ltd (private limited company), is a gym in Potters Bar that provides people in the nearby area a place to exercise and keep healthy. Revive may issue stock and have shareholders, however, their shares do not trade on public exchanges and are not issued through an initial public offering.
One advantage of being an ltd is that more capital can be raised as the maximum number of shareholders allowed is 50. This could also be a disadvantage as only having 50 shareholders could limit the amount of growth.
Another disadvantage of being an ltd is that the shares in a private limited company cannot be sold or transferred to anyone else without the agreement of other shareholders. Revive normally target older men and women, as it costs £40 a month to be a member there, and teenagers can’t normally afford it.
The unique selling point of Revive is that is offers members a pool, a sauna, a steam room, a spa and all of the classes for no extra charge. No offer gym in the surrounding area can offer this type of service.

Sports Direct
Sports Direct is a sports retailer, well known for its low cost products. Sports Direct is a public limited company, which operates on the London Stock Exchange. It is a limited company whose shares are freely sold and traded to the public, with a minimum share capital of £50,000.
Some of the advantages of being a plc are that the company has a legal existence separate from management and its members, member’s liability is limited and the companies name is protected. Some of the disadvantages of being a plc are that the original owners may lose control and a high cost of running the business. Sports Direct target market is a large range of people. It offers products for many different sports, sporting abilities and ages.
Its unique selling point is its large range of products, which nobody will find anywhere else in the same place.
Sports Direct’s main aims are to enhance the quality of their stores, invest in staff training and expand their range of products.

(b)
Revive gym have part time employees. A part-time worker is someone who works fewer hours than a full-time worker. There is no specific number of hours that makes someone full or part-time, but a full-time worker will usually work 35 hours or more a week.
Part-time workers should get the same treatment for:
-Pay rates (including sick pay, maternity, paternity and adoption leave and pay)
-Pension opportunities and benefits
-Holidays
-Training and career development
-Selection for promotion and transfer, or for redundancy
-Opportunities for career breaks

Sports Direct have fixed term employees. A fixed-term employee is 'a person with a contract of employment which is due to end when a specified date is reached, a specified event does or does not happen or a specified task has been completed'.
Examples of fixed-term employees are:
-Additional staff taken on for six months during a peak period
-A specialist employee taken on for the duration of a project
-Someone employed to cover during another employee's maternity leave

(c)
There are many different factors that determine whether a business is successful or not, such as profit, customer and staff satisfaction, growth and potential, entertainment and value for money.

Income/Profit
The amount of profit a business makes is the first thing people think of when measuring the success of a business. If a business is making a major profit after their costs have been paid then their success is fairly high. However is a business is struggling to survive as their costs outweigh their profit, the business may fail, causing the business to be unsuccessful.
Sports Direct and Revive are both successful as they both make a healthy profit, which allows them to develop and increase their market share. However Sports Direct make a much larger profit than Revive gym as they have hundreds of stores in many different countries, while