• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Is there SCOPE for a new Business in the local area?

Extracts from this document...


INTRODUCTION I am thinking of setting up a music/computer games shop. Reasons for setting up this business include the big gap in the market. Middlesborough, 10 miles away, is the closest place to go and find a computer games shop and I'm sure many young people / teenagers in the local area would be pleased and buy games from my shop. This is where market research, that I will be doing soon, will help me find if I am correct. I think that demand is high in the area and a profit wouldn't be hard to make. I also have a personal interest in computer games and music and I think I have a sound knowledge to help me progress in my business. ...read more.


But again, Market Research would help me understand if my theory is right. Maybe Stokesley is the right place for this business. Maybe not. There is a big Comprehensive School in Stokesley catering for 1,500 teenagers, of which about 500 are allowed out on a weekday lunchtime, which I think, would provide a reasonable percentage of my total customers. If I set up this business, I would become a Sole Trader. This allows me 100% control of the business, which is an advantage to me, as I prefer to be able to make all the decisions by myself. I would also be able to keep all the profits. ...read more.


I am planning to set up my business in Stokesley, a market town in the north east of England, 10 miles from the industrial town of Middlesborough. I would be setting up in the main high street, located in the shopping district of Stokesley. Areas I would need to look at before deciding if there was a scope for a new business would be finance. Do I have the finance to start up my business? And if so, it would stretch for times of most need? What competition would I be facing? How would I advertise? How many staff do I want to employ? What market research would I need to do? Who would my supplier be? What is my Market Segment? These are just a few answers I would need to question in research before setting up. ...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. I have selected a nursery because there is high demand in the UK as ...

    Each child will have a chance to sit down with a member of staff once a week and have one to one with them. This could range from private reading to games and discussing problems or issues. There will be events in the school holidays such as painting and trips for kid's aged 3+.

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

    Tesco runs 13 centres and a further six centres are run for Tesco by contractors. A typical centre covers 300,000 square feet and handles some 50 million units a year. The centres work around the clock, seven days a week, providing 2,500 deliveries daily, amounting to 19 million cases per week.

  1. "Feasibility study of starting a new business".

    These are the most popular bars according to the questionnaire results. The location of Sinners needs to be considered based on this information, as it needs to be as near to as many "feeder" bars as possible to capitalise on custom.

  2. "Is there a scope for a new business in the local area"

    only one in Northwich and it is a McDonalds, and usually where you find a McDonalds, you find a Burger King. Therefore the fast food restaurant I would open would be a Burger King as there isn't one in Northwich and some people might prefer Burger King to a McDonalds,

  1. My local area will be in Thornton, Bradford near Leeds, there are already a ...

    But if I set my prices too low I may not raise enough money to cover my costs. As I sent out a questionnaire to the public I know that the majority of people would be prepared to pay �2 - �3 for an hour on the internet.

  2. I am opening a new shop in my local area; this shop is going ...

    Also by advertising my shop in different areas. I will put on offers on my products which will make my business popular with the customers. I have chosen these aims and objectives for my business because I think they are sensible ones to get the business up and running with no problems.

  1. A construction plan of a new business.

    the owner could lose some of their personal assets (e.g., house or savings). Sole proprietorships are easy to form. They end when a partner dies or leaves the partnership. In my opinion I would chose a sole proprietor to run the business due to the lack of budget and the

  2. china town revision notes

    It is a good idea to know the calculation for this. Capacity utilisation = Current output x 100 Maximum possible output For a business there are obvious problems of not producing to their full or near full potential. Obviously fixed costs still have to be paid no matter how many units are produced.

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