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Subway Franchise

Extracts from this document...

Introduction

Table of Contents 1 Introduction 2 1.1 Business My Idea 2 1.2 My Skills 2 1.3 Projects Aims & Objectives 2 1.4 Business Aims & Objectives 3 1.5 Methodology 4 1.6 Mission Statement 5 1.7 SWOT 6 1.8 PEST-G Analysis 8 1.9 Target Audience 11 1.10 Business Structure 12 Marketing Mix: 13 1.11 Product 13 1.12 Place 13 1.13 Promotion 13 1.14 Product for my business 13 1.15 Place for my business 13 1.16 Promotion for my business 13 Market Research: 13 1.17 Primary Research 13 1.18 Secondary Research 17 1.19 Sampling 17 1.20 Questionnaire graph 17 1.21 Results 17 1.22 Location 17 1.23 Target audience 17 1.24 Materials 17 1.25 Transportation 17 1.26 Communication 17 1.27 Labour 17 1.28 Image of location 17 1.29 Qualitative decisions 17 Finance: 17 1.30 Cost of the site 17 1.31 Breakeven Graph 17 1.32 Cash Flow Forecast 17 1.33 Profit and Loss 17 1.34 Discussion of Finance 17 1.35 Bibliography 17 2 Evaluation 17 3 Appendices A-J 17 1 Introduction 1.1 Business My Idea My idea is to set up an established franchise. Thus a Subway Franchise. My decision was based on the idea that there is a gap in the market for this particular business especially in the South Norwood area. The only well known sandwich outlet is Subway and although it is already a well-established brand name, I believe that in the correct location my own store will have the potential to make a lot of profit and survive. My businesses unique selling point will be giving my customers the choice to choose which fillings or types of breads they wish to eat for their sub. There are nearly two million different sandwich combinations available on the SUBWAY menu. This flexibility will give the customer their needs and we will gain the loyalty. I believe that in the correct location my own Subway franchise will have the potential to make profit and survive. ...read more.

Middle

As a result of my SWOT analysis I come to the conclusion that continuing with the business idea would be unpractical, but with a lot of hard work and luck, the firm may be successful, however not enough to compete with competition such as Pret A Manger or Burger King but surviving to some extent. Carrying out this analysis has updated me, both in terms of pointing out what needs to be done, and in putting problems into position. It has helped me to focus on my strengths, minimizing weaknesses, and taking the greatest possible advantage of opportunities available. 1.8 PEST-G Analysis This examines the external environment and the global factors that may affect a business. It can provide a quick and visual representation of the external pressures facing a business, and their possible constraints on strategy. It is usually divided into five external influences on a business- political, economic, socio-cultural, technological and green. The analysis examines the impact of each of these factors and how they interplay with each other in the business. The results can then be used to take advantage of opportunities and to make emergency plans for threats. Political: It might include a consideration of legislation, such as consumer laws, regulation, such as control of certain companies, political pressures and the government view of certain activities. Factors that could affect are Government legislation such as taxes on products and interest rates. This will affect the business when determining the selling price of the products. In order to make a profit after taxation, the price will have to be increased; however the price must also be appealing to the customer and rival that of your competitor. Healthy and safety legislations will have to be taken into account especially since my business deals with food. Improving the health and safety rules according to the regulations set by the franchise would do this. ...read more.

Conclusion

Also whether the majority of my sales are based on impulse buying, something that businesses cannot rely on heavily to cover costs, or treats or groceries. Rather it will give me an angle to push my sale at e.g. if for impulse buying I will advertise snacks instead of heavy food. Question 14- Do you enjoy sandwiches as a healthy alternative from other junk foods? This will allow me to reckon whether they really find sandwiches a healthy alternative to junk foods and if they prefer eating this nutritious meal from burgers or pizzas. I would be able to see if sandwiches are a popular good to buy. Question 15- Are you vegetarian, or don't eat certain meats? My market is low fat in nature. If a lot of my customers are vegetarian, I can introduce no meat sandwiches. This goes the same for Halal meats. If I experience a low number of people eating meats, than instead of buying Halal meats, which are expensive, I can introduce more vegetarian meals to cater for there needs. 16. Are you conscience about the amount of calories or amount of fat you eat? Although all my products are low in fat, this answer can help me to gain awareness. My pronouncing that my products are all low in fat, people who have answered this question yes, will seek out my product, because of its low in fat nature. You need to explain: � if your questions are open or closed � the dis/advantages of using open/closed � the data obtained by using open (this is qualitative), closed (which is quantative) � the most appropriate to use in certain circumstances eg if you are asking someone questions whilst they are waiting in a queue then closed questions would be the best etc 1.18 Secondary Research 1.19 Sampling 1.20 Questionnaire graph 1.21 Results 1.22 Location 1.23 Target audience 1.24 Materials 1.25 Transportation 1.26 Communication 1.27 Labour 1.28 Image of location 1.29 Qualitative decisions Finance: 1.30 Cost of the site 1.31 Breakeven Graph 1.32 Cash Flow Forecast 1.33 Profit and Loss 1.34 Discussion of Finance 1. ...read more.

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