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

The aim of my assignment is to find out whether there is a wide enough market to open a newsagents in Timperley, Manchester.

Extracts from this document...

Introduction

Introduction The aim of my assignment is to find out whether there is a wide enough market to open a newsagents in Timperley, Manchester. I will carry out research in Timperley. I will do background information on the area and carry out a survey of the area. I will do research in finding out a suitable location for a shop that is possible to buy/rent. I will need to research the price of stock, the selling price of the stock and the demand for that product. In Timperley there are already a newsagents, so I will have to be competitive or pick a location away from the existing newagents. I will analyse the information from my research and evaluate whether it will be a good location for a newsagents to be opened. I will then calculate the break-even point and estimate the monthly profit/loss. Research Location I have found a shop on Wood Lane shops that has recently closed due to exhilaration of their lease; this shop used to be a newsagent and is located near two schools. Housing surrounds it, so the amount of customers will be a lot. Ownership The type of ownership for my business will be a partnership. This is the most obvious choice as there will be two people involved. My business partner and me. ...read more.

Middle

* Under 11 * 12 - 16 * 17 - 21 * 22 - 31 * 32 - 50 * Over 50 Do you read the Newspaper? * Yes a) If yes, how often. * Daily * Every Other Day * Twice a Week * Weekly * Less b) If yes, would you buy them? * Yes * No Do you think a newsagent on Wood Lane would be useful? * Very * Quite * Not Sure * No * Definitely Not How often would you visit the newsagents? * More than once a day * Daily * Every other Day * Once a week * Less than once a week What would you buy? ____________________________________________________________________________________________________________________________________________________________ How much would you spend there a week? Source of finance A bank loan will be initially available to the business. This provides a lump sum that is repayable with monthly instalments, which would make setting up easier in the first two years. A fixed interest rate will be supplied making the repayments more costly in the long-term, but provides capital for start up costs and will help with the initial losses. HSBC would offer a loan of �8,000 at 11.9% APR over a period of 36 months at �265.33 a month. Total repayment would be �9,551.88 meaning a long-term loss of �1,551.88. This is quite substantial, but allows for the business to be able to set up and market adequately. ...read more.

Conclusion

This question was chosen so we know how many newspapers we could sell. Tally Frequency Yes IIIII IIIII IIIII IIIII I 21 No IIIII 5 Most people will want to buy a paper. The demand for this product is high. Question 4 Do you think a newsagent on Wood Lane would be useful? This can be used to make a prediction of the amount of customers there will be. Useful? Tally Frequency Yes IIIII IIIII IIIII IIIII III 23 No IIIII II 7 A lot of people would find this newsagents useful. Question 5 How often would you visit the newsagent? This can be used to make a prediction of the amount of customers there will be. Useful? Tally Frequency More than daily IIIII 5 Daily IIIII IIIII IIIII 15 Every other day IIIII I 6 Weekly III 3 Less than weekly I 1 A lot of people would visit frequently. Question 6 What would you buy? This can be used to estimate the stock needed. Buy Tally Frequency Chocolate IIIII IIIII II 12 Tobacco III 3 Newspapers IIIII IIII 9 Magazines III 3 Drink IIIII II 7 Toys II 2 Stationary I 1 Crisps IIIII IIIII II 12 Chocolate and Crisps sell well. Question 7 How much would you spend there in a week? This can be used to calculate sales revenue. �25 �4 �22 �3 �24 �10 �8 �20 �25 �10 �2 �8 �25 �17 �8 �6 �14 �27 �17 �12 �32 �14 �17 �20 �2 �3 �2 �13 �19 �1 The average is: �13.66 a week ...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 ...

    Demographic Transition In the 'industrialised' or 'developed' world, during this period of growth, national populations have largely completed going through what is called the 'demographic Transition'. The UK population is projected to increase from 59.6 million in 2003 to 65.7 million in 2031.

  2. Business Aims and Objectives.

    81 The Mall Stratford 5 Stratford (The Broadway) 34 The Broadway, Stratford Stratford 6 Beckton (Gallions Reach) Gallions Reach Beckton 7 Beckton (Gallions Reach) Unit 20 Gallions Reach Beckton 8 Gants Hill (Eastern Ave) 353 Eastern Avenue Ilford 9 Woolwich (Powis St) Unit 2, 88-104 Powis Street Woolwich 10 Charlton (Peninsular Pk)

  1. Business Report on Manchester Airport PLC.

    It is also responsible for the cost effective management of the capital programme for all four airports in the Group. Regional Airports This covers the other airports in the group - Bournemouth, Nottingham East Midlands, and Humberside; as with the other companies in the Group, the Regional Airports business is

  2. Ao1 : aims and objectives

    They also try to develop ideas how to market new products as well as existing ones. Tesco promote through T.V. adverts, magazines, newspapers, radio and deals e.g. buy one get one free. The customer services department In order for a business to make a profit, businesses depend on their customers to purchase their products and services.

  1. My aim is to research and produce a formal business report on my the ...

    This function concentrates on converting the resources and raw materials of co-op into goods or services which can be sold to customers. Resources include buildings/land, equipment, people (including specialist materials), raw materials and stock for sale. The purpose of the production function is to produce goods.

  2. Aims and Objectives - Manchester Airport.

    McDonalds is a franchise so in order to expand the business they need to add restaurants but they do not own them. To maximise sales and profits and sales at existing restaurants the franchisor will set aims for each branch or set offers and prices for the franchisee to follow.

  1. Full Assignment

    In this way, the owner is happy and so are the shareholders. If the shareholders are happy then more investors will invest in the business, which will lead to growth of the business. The more shareholders PEP has the more income therefore the business being successful the business will be able to grow.

  2. My business idea is to open a fish and chip shop.

    The total number of males equals 99953 and the females equals 106861 th8s indicates that there are more females than men. The population aged under 15 equals 41691 and ages between 16 and 74 equals 150514. People aged over 75 equals 14609.

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