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Is there scope for a new business in my local area?

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Is there scope for a new business in my local area? Introduction I have chosen to investigate the suitability of a small record shop, which sells Records, CD's, Rave Tickets, Record bags and Mixing equipment in my local area (Leytonstone). I have chose to investigate this, because there are no existing places like a record shop of any sort in or around my local area and also mixing and being a Dj is becoming more and more popular with people of my age group. Even some girls want to become Dj's. I am Dj myself and go on pirate radio, and know were to get records from and known what people my age want because they are my age. ...read more.


The shops on Leytonstone High Rd are: - * The local post office * The local banks * Chip shops * Supermarkets * The newsagents * The chemist's * The fast food shops * Phone shops Initial Ideas My initial ideas are to be a sole trader: Advantages * You control the business * You make all the decisions * You own the business Disadvantages * You have unlimited liability * Not easy for my type of business to expand In my presentation I am going to use the following business studies theories to help me: Market Research I have chosen to use market research in my presentation because it will enable me to see who will buy my product, to find ...read more.


The level of skills the workers will need to do the gob properly * The ability of the workers to adapt and be flexible * The team working skills of employee Promotion * Advertising For promotion I am going to look at advertising because for this type of business that is all I will need to do for promotion because my shop is located on the high street and for local people it is the main shopping area in Leytonstone, so they would see it all the time and also I would not look at for example, Public Relations because it would cost to much money, and that type of promotion would not be suitable for my type of business. Tyson Burke ...read more.

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