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Opening a sandwich shop in huddersfield

Extracts from this document...

Introduction

Cover page Contents page 1.0 Terms of Reference This coursework is required by AQA A level business course. I have to set up a business researching all the key stakeholders in my business idea such as suppliers, customers etc. I have to study the feasibility of a new business. This coursework was started in June 2005 and is submitted in Febuary 2006. 1.1 Primary Objective To the test the feasibility of opening up a sandwich shop in Huddersfield town centre. This will be the careful planning of the opening of a sandwich shop in the Huddersfield area. I will carefully think of all the necessary procedures I need to go through in order test the feasibility of a sandwich shop in Huddersfield. My USP will be making large orders of sandwiches for business' in and around the surrounding area. 1.2 Secondary Objectives - Find a suitable location for a sandwich shop. - Find background information that will allow me to put my work into context. - I need to analyse the competition and what threats they pose as well as opportunities that may arise. - I will produce a questionnaire to find out about the consumers and what they will pay, what they like and also locations. - I need to find all if any of the operational aspects that will affect my business. - Undertake a thorough financial analysis linking budgets to a cash flow forecast. I will produce one budget for the whole of my business and from this use it to produce a profit and loss account and a balance sheet. -Undertake financial appraisal to asses my idea of a sandwich shop. -Identify different sources of finance. This will be how will I get the funds to start up my business idea. -Make a decision on the ownership of the business. -Undertake SWOT and PEST analysis of internal and external factors affecting my business. ...read more.

Middle

Tea Coffee Hot chocolate Cans Bottles of water Ribena cartons Sparkling water Pint of milk Pint of fresh orange juice I will also sell salads. These can be made up freshly containing anything the customer wishes. I will also need bread from suppliers. For this I may need a bakers to supply my sandwich shop. Bread Brown bread Tea cakes Barms Rolls Baguettes. Conclusion to 4.2 4.3 The Marketing Mix for your business This is the theory behind all my research and findings. I will evaluate all of my findings and make some conclusions based on the results from questionnaires and primary and secondary research. Looking at my primary and secondary research I have gained some knowledge about what consumers want, what consumers think about my competitors and also what consumers want from a sandwich shop. From my questionnaires I was able to find out important infor mation about how regular people shop in Huddersfield. I was also able to find out that most people are prepared to pay between �1and�2 for a sandwich. From this I have decided that I will price up my sandwiches to be between �1 and �2. I decided this as it was the most popular price willing to pay from potential customers. From this I was able to work out spending averages and then I can work out monthly sales revenue. I have identified competitors and I undertook some qualitative interviews and I asked 3 people the same 5 questions but about 3 different competitors. I was then able to draw up a comparison table where I could analyse all the different competitors and then find the good and bad points about each competitor. I was able to highlight consumers views that critisized the bad points about each supplier. I could take this into account and then I could take these into account and make sure I am not making the same mistake as my competitors. I have chosen a location that I think is the most appropriate. ...read more.

Conclusion

This would allow me to manage my account online. It would also give me 24 hours access to my account. From this I can make sure there is enough money to pay suppliers and the bank etc. Mobile phone number of staff will also allow them to communicate to arrange meetings etc. 5.0 Conclusions 6.0 Recommendations I would go ahead with the idea of opening a sandwich shop in Huddersfield. I think the idea has been feasible. From all the sections from the very beginning i have thought that this idea could work. The market is very competitive and i think in years to come it will expand and grow. It has the potential for small sandwich shops to make high profits due to Huddersfield been such a large and growing Town. Also Huddersfield has 3 colleges and 1 University whci means there ia always alot of young people around. The secondary education is based quite centrally in Huddersfield and as alot of students and general public are always in the town centre then i can benefit from this. the competitors have been researched thorougly and i was pleased to find that i think this sandwich shop would work in the HD1 area. The accounts were also encouraging as in the first year after all fixed costs were paid out then i still managed a profit. This was only small but i had spent several thousands on start up costs. Also i have a loan that i am paying back over 3 years. After the 3 years i expect higher profit margins. I also expect this as the loan will be paid back and also i expect the business to have estabilished a reputable name for the business.This reputaion i hope will get regular customers for the business and increase sales due to more regular people buying from the shop. If i was to estabilish a reputable name for the business then word of mouth advertising will also help as more people will be told about the business. This may increase sales which will result in higher profit margins for the business. ...read more.

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