• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17
  18. 18
    18

Developing a retail outlet in an unspecified town

Extracts from this document...

Introduction

Introduction: - This project is about developing a retail outlet in an unspecified town but in the local area i.e. Reading, Newbury, Thatcham etc. In this project I am looking for a gap in the market for a business that has not been considered by others/many others. A gap in the retail market is a business opportunity that has not been considered by people. Meaning that a business has something more to offer than another that offers the same basic product. Where should I locate my business? * Location factors My business will have many location factors in order for it to be successful. The location that my business will be situated will be effected by the following factors: - > Location of the market - this is a main factor because the business will have to located near to its customers so that it is convenient, it will also have to located where it can be easily accessed i.e. a town centre, shopping mall. > Labour supply - this factor will have to be closely considered because the development of some films may have to be done by hand. Also the operation of high tech equipment will require the skills of highly skilled workers. The business will have to be located where these types of skills can be found. > Economies of concentration - this will have to be considered in the location of the business because being close to the business competitors will mean that local workers with the required skills will be easier to find. Also the customers will get to know the location that will have these types of businesses situated in them. Considered locations: - * Newbury town centre - this is an ideal area for a business however is very large. The town centre is located near the largest housing estates therefore making walking an ideal mode of transport. ...read more.

Middle

store in the town centre meaning that it should be able to make sufficient profit and it should not be as congested. Recommendation From analysing the main competitors to my business I can see that there is more of the market share to be gained in this area of retail. Boots have a large area of the market share gained because of the areas of retail that their one store offers, also their nationally known brand name would aid the attraction of customers. My research has shown that a small specialist store that solely dealt with photographic development would be able to gain a market share and attract customers. Findings I have found based on my competitor research that the main competitor Boots have occupied a large amount of the market share. This would make the objectives of my proposed business far harder. However, as Boots has occupied a large area of the market share in other areas of retail (mainly cosmetics) there is room for a small specialist store to gain market share. Based on my findings I have allocated certain areas of my questionnaire that would reflect upon my final recommendation. From analysing this graph I can clearly see that 70% of customers would strongly agree to have the shop in/near a town centre. Only 20% would agree to have the shop in/near the town centre, and 10% of people asked would disagree to having the shop in/near the town centre. From looking at these results customers would prefer a store located near the town centre/near other shops would make the success of the business easier. This means that the fact that Boots has their development department in the same store far more convenient for customers. This is a service that would not be available by a small specialist store; also an equivalent service would be also very hard to make available and also being cost efficient. ...read more.

Conclusion

* Labour supply - the supply of labour in the area in which I wish to locate my business would be a very important location factor. This is because much of the labour that is needed by this type of business will be skilled labour. This will affect the location of my business because this type of labour will have to be found. Also the labour that is needed for non skilled, purposes such as cleaning of equipment and serving customers (i.e. not the operation of machines), may affect the location of my business because if the wages are to be kept low then I aim to locate my business in an area of high unemployment. * Transportation/facilities - The transportation that has to be available to the business may affect the location of my business. This is because the business will have to have fast and reliable access to stock e.g. blank photographs and ink for printing. Also facilities that have to be available to the customer, they are like proximity to other shops and what parking facilities are available to the customer, this makes the business more accessible for customers. * Suitability for purpose - This is a very important factor for the location of my business. Parking facilities will have to be available to my business so that customers can easily access it. The premises will also have to have large open front to it and have seating and perhaps toilet facilities for customers. As many customers may choose to leave the store whilst the development is taking place other customers may choose to stay in/near the store and wait for development. Therefore toilet and seating facilities will have to be available to customers. The premises will also have to be able to facilitate the equipment and still have adequate room to operators in the store Nolan Byrne Business studies coursework 03/05/07 1of3 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. Marked by a teacher

    Unit 4 Business Studies

    4 star(s)

    doesn't have a search engine facility which allows the customer to type up a make of a car or model and then get associated results, but although the cars are listed in the auction the customer is able to navigate themselves to the car and read its details an even bid when they are logged onto the website.

  2. Business Aims and Objectives.

    The first step is to decide the marketing mix for the product or service. This is the 4Ps: * Product * Price * Promotion * Place Product This is the type of variety of product or service the customer wants, the preferred design, whether packaging is important, whether a guarantee or after sales service is required.

  1. This coursework that I intend on completing will be based around setting up a ...

    As stated I was able to obtain information from a friend who works at the Hitman record shop in Newport. They were able to tell me of a supplier in the Chepstow area called Kingdom Records. The company work on a trade credit when selling CD's and require retailers to pay back the stock received within 40 days.

  2. In this coursework I need to produce a detailed business report on one medium-sized ...

    Function 1.7: Line authority in a production department. Chain of command - is the line of command flowing down from the top to the bottom of an organisation. It passes down the management hierarchy, from director and senior management levels to those in middle and junior management positions and eventually

  1. For my report I will be looking at two businesses, a small business and ...

    at the right price at the right time with the right quality. * Using resources efficiently Production will be responsible for providing sufficient goods to meet customer demand. Additionally, as the case study above demonstrates, other activities can include: * Maintaining and improving * Maintenance and control of machinery and

  2. Implementation of ATMS at SBI. Banks in India are looking at deploying biometric ATMs ...

    In all such cases where the user of the combination key changes, the combination key should also be changed. Recording of all such events must be made in the Branch Documents Register and reported to Controllers. It should be borne in mind that if the password is lost / forgotten (In the absence of the above arrangement or otherwise)

  1. Business Idea

    achieved within the time limit), Accurate (Everyone in the business agrees with the aims and knows how to achieve them), Realistic (Able to be achieved after taking into account resources, competition and market), Timed (State a time by which they should be achieved)).

  2. Business Studies Coursework - start up video rental and buy shop

    Questionnaire 1. What is your age? 12-14 15-17 18+ 2. How often do you go to rental shops? Every Day Every Week Once a Fortnight Once a month 3. What do you come to rent? Videos DVD Games Accessories 4. How much do you spend when you come to a rental shop?

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work