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For this piece of coursework I am going to see whether the opening of a new business which serves the passenger community area will represent a sound and profitable business decision.

Extracts from this document...

Introduction

With reference to an area, would the opening of a new fast food restaurant (or other business ) represent a sound business decision Introduction For this piece of coursework I am going to see whether the opening of a new business which serves the passenger community area will represent a sound and profitable business decision. As my business will be located at either Heathrow, Gatwick or Stanstead airport I will have to go there and carry out some research. Once I have done this, I will assess the feasibility of the business in the light of the sort of people who are its main potential source of income. Furthermore I will also estimate and find out the amount of likely customers, transport links, the availability of parking if relevant and the capability of the environment to support my proposition. Once these observations have been carried out, I will look for a suitable premises as to which I feel will be a good position for me and the venture and then justify my reasons as to choosing 1 premises over the other 2. The type of business venture that I have proposed to set up is a cyber store called 'Ve - store' which is run by Virgin. The reason as to why I have chosen to call my business and have it run by Virgin is because Virgin has an excellent reputation for being innovative. Virgin also specifically aim to maintain the perception of being a customer oriented organisation within the consumer market. In order to uphold this perception, the idea behind Ve store is basically based on a high tech caf� including many aspects of the Virgin megastore such as music, movies, magazines and books as an all-in-one cyber store. My business will offer the following to its customers: * A lounging area where customers can sit on sofas while having a bite to eat and socialising * An eating area where customers can order something to eat and drink * A caf� area where customers can purchase food such as muffins, chocolates etc. ...read more.

Middle

Gatwick airport and have obtained the following data about the airport: * How many bus routes are nearby and run directly to the airport - There are more than 400 express coach services that run a day from the coach stations at the North and South Terminals of the airport. This terminal which is dedicated to coach services is located at the ground floor of the South Terminal and principle services also call up at the North Terminal. I have also found out that information can be gathered about coach information in the arrivals of both terminals. The local buses that run through are; 142, 128, 987, 765, 54, 87 and N67. Speed link coach services operate from desired bases at the North and South terminals. All other bus and coach services such as the X70 stop at the airport's coach station which is on the ground floor. The main express coaches which run in the local area are: * Speedlink - dedicated to speedlink points within both Terminals. * Gatwick Flyer - offers direct service to the South Terminal Other bus services which run indirectly to the airport are; the Oxford Express bus which provides a link to the airport from Oxford and Jetlink which run to the airport from the Midlands. * How many bus stops are visible/easy to get to - There are 6 bus stops which are visible and easy to get to. These are located outside the airport and inside the airport facility. The main bus which runs from outside the airport is the X70. * What tube/train facilities are nearby - There are no tube facilities which are nearby to the airport. However, on my visit I found out that Gatwick has its own railway station at the South Terminal. This railway receives well over 900 services daily to and from all parts of the U.K. The railway station itself is linked to Gatwick's South terminal and is just a few minutes away from the North terminal via train link. ...read more.

Conclusion

A face-to-face interview will be used by myself to ask a wide range of different people and will also allow me to speak to people and see what they think of my proposed business idea. I have decided to survey 10 people and keep the questions short in the questionnaires because business people and people will have flights to catch and so do not want to miss a flight. I will also be carrying out quantitative and qualitative research. I will be using quantitative research to examine on a given amount of time - 60 minutes to observe how many consumers visit my main competitors. This type of research collects numbers. I will do the observation right outside HMV and Costa Coffee bar at 1pm on a Saturday and 3pm on Saturday too. In total I will carry out for different observations. In such numeric form it will be easy for me to display this data and analyse it on a computer using graphs and tally charts. The qualitative research that I will be carrying out will things related to do with opinions. This will help me see the demand for my business idea. I can display this data on a pie chart to show how many people agree that my idea of the shop opening up is wanted. The secondary research that I will be carrying out will be that of information which has already been published. The secondary data that I will use will be that of social trends - disposable income, and upmystreet.com. I will look at information which has already been published to look at the demand for that particular business, in my case a cyber store. I have carried out questionnaires and have interviewed 10 people; 5 men and 5 women. I have also carried out other relevant research methods to: * Assess the level in demand for my new business idea * Find out if there are enough people to buy my goods and services. Amish Patel ...read more.

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