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"Feasibility study of starting a new business".

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"Feasibility study of starting a new business" Introduction This investigation will carry out a study to see if it would be feasible to open a new nightclub, 'Sinners' in Maidenhead town centre. Maidenhead is a small town in the southeast of England, located in the county Berkshire. The nearest major city is London, which is located twenty-five miles east of the town. The reason I have chose to investigate this type of business venture is because I take an interest in this type of business as I would like to look into it in the future, and also feel Maidenhead possesses the qualities, and provides a great opportunity to start up a business of this nature and for it to be successful. To find out whether this business venture would be feasible, a feasibility study needs to be carried out covering all aspects relating to starting up a new business. Several tools will have to implemented to do so. There are two main types of tools that will be used; these include research tools and analysis tools. Firstly the primary research will include interviews and questionnaires, and from this the information needed such as demand levels and financial information will be analysed to help with the final decision of the study. For secondary research company account will be used, along with books, maps, and Internet sites. All these sources will allow me to find out about the local area of Maidenhead such as demographic information and statistics. All this research will aid me in being able to make my location decision. There are several analytical tools that will be implemented, and these will be marketing tools such as PEST analysis and SWOT analysis, financial tools such as cash flow forecast and break-even analysis. Then the final part of the report will be the analysis and conclusion, to actually see if it is viable to open a nightclub as a business venture in Maidenhead. ...read more.


However, there are 11 bars in Maidenhead being Chicago Rock Caf�, Whetherspoons, Bar Soviet, The Bear, The Bell, The Newt and Cucumber, The Roof, Heroes, Bar 38, The Honey Pot and The Toad. All these bars close at 11.30pm. As Sinners would be a nightclub the business would close at 2.00am the same time as Smokey Joes, therefore meaning Smokey Joes is my only direct competition. The remaining bars are more "feeder" bars, where people will leave and then make their way to my nightclub, and so it is important to look at where they are located in the town. Because of this I feel that 9.30pm would be an adequate opening time. Although the bars do not close until 11.30pm it would be hard to attract customers at times between 9.30pm and 11.30pm because people would still be in the bars, but the nightclub would offer a happy hour between opening time and 10.30pm hopefully attracting people away from the bars and into the nightclub. Also there will be no �5 entry fee before 10.30pm, where as after this time there will be. This again will be used to attract people to the venue earlier rather than later in the night. On the map (see appendix 1.5) the 11 bars have been marked by pink dots according to where they are located in Maidenhead. Smokey Joes my direct competition has been marked with the green dot. The orange dot on the map is where the new nightclub would be located. The name of the location is Grenfel Island, and already located there is UCI Cinemas, David Lloyd Heath and Fitness Centre, Heroes and Bar 38. There is an available building to let located next to David Lloyd Health Centre, and it is felt it is in prime location as there are 9 potential "feeder" bars in 50 metres walking distance. This is perfect for people who come out of a bar when it closes and do not want to walk 200 metres to Smokey Joes. ...read more.


an initial investment to get the club up and running in terms of rent and rates for the first two months, and advertising in February when no income is coming into the business. After this second month income is made meaning the loan would be paid off within two months if needed be, as the closing balance for April, only the second month of trading, is �116,586. This would cover all costs and would repay the loan still leaving money left over to reinvest into the nightclub. Although there would be continuous extra costs such as maintenance and repair, the retained profit at the end of each year easily cover for any incurred extra costs. The main restrictions with this type of project were lack of time and trouble finding costs. If I was to carry out a project of this nature in the future with more time allocated, I would definitely take a much larger sample, of possibly 300- 400 people rather than just 60 people when it came to the questionnaire. I would also possibly interview nightclub managers from outside Maidenhead to gain a view from them and try to implement them into my work. I may even consider the option of opening a branch of nightclubs, because from the project I brought together I feel it is more than feasible for opening a nightclub in Maidenhead, and possibly even in surrounding areas because there is such a huge demand in the UK for this type of business. Such high demand was the cause of the forecasted profit and loss account and such high sales revenue being generated, and if this is so and demand is so high there is no reason why this could not happen. Other restrictions I had were finding out information on licensing laws and costs. Bars in Maidenhead were reluctant to give financial information for business reasons, apart from Smokey Joes who in the end did give over some information but not much. Ryan Packer Business Studies ...read more.

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