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The Feasibility of Opening a Video Games Franchise in the Lurgan Area

Extracts from this document...

Introduction

Introduction The coursework that I have chosen to do is the feasibility of opening a video games franchise in the Lurgan area. I decided on this because I have a keen interest in video and PC games, and because I live in the Lurgan area and frequently buy games I felt that the current retailers in Lurgan do not tailor to the needs of the common gamer. I felt that I may not be the only person to feel this way, and that there was a great need for a better service to customers and that there maybe enough demand to sustain a new business. There are no stores in Lurgan that currently specialise in video games and because of this there may be a gap in the market, which would be very important for the success of the franchise. I chose to use a franchise to set-up in the Lurgan area as I felt that it was a quicker method, as it already has an established name nationally and internationally selling all over the globe. Electronic boutique is one of the most recognisable and trusted brand names in the interactive gaming industry. The franchise has enjoyed success and established themselves in countries such as USA, South Korea, Japan and Australia, showing that it is a symbol of quality that stretches across the language boundaries. They offer the customers wider ranges including video games and PC entertainment software, as well as video gam hardware, PC productivity software, PC accessories, interactive toys and trading cards. By opening a franchise I can offer customers immediate availability of all new releases. I choose my aims so that they help indicate whether it is likely to be a profitable, and could help in indicating the strengths and weaknesses of setting up a new business. My aims would look at the competition I would face, the potential customers and whether there is a market, the pricing and marketing strategies to adopt and also the different financial aspects that I would need to consider on start-up and the first year. ...read more.

Middle

Aim 2. I had done a questionnaire randomly to persons in and about the Lurgan area. I felt that 20 would be enough for a representative sample. The results that I found are shown below as a percentage. Question nine is two sample quotes. 1. Yes = 100% No = 0% 2. Male = 70% Female = 30% 3. 3-12 years = 5% 12-18 years = 55% 18-35 = 40% 35+ = 0% 4. Yes = 100% No = 0% 5. PC = 90% PSX = 60% PSX2 = 5% DC = 10% GBA = 10% 6. 1-2 months = 10% 3-6 months = 25% 6+ = 65% 7. Yes = 15% No = 75% Maybe = 10% 8. Yes = 85% No = 10% Maybe = 5% 9. "The current stores don't have enough quality games" "The games don't come out in Lurgan until weeks after their release" I later decided on a second questionnaire about 3-4 days later after I had looked at my results from my first questionnaire. I did this because I felt the question of if people buy games and where needed to be done. I felt a sample of 10 would be adequate. They are shown as percentages below. 1. Yes = 90% No = 10% 2. 3-12 years = 0% 12-18 years = 50% 18-35 = 30% 35+ = 10% 3. Yes = 80% No = 20% 4. 2 Electronic Boutique, Belfast 2 Game Ltd., Belfast 3 Whizz Kids, Portadown 1 Game Ltd., Lisburn Aim 3. The pricing strategy would be directly affected by the franchisee. They would also have a lot of say in the marketing strategy of the business. Each of the products that I would buy and other things such as promotion would be the same for each of the electronic boutiques in Northern Ireland. The strategy and vision of the business is: OUR STRATEGY We operate a dual brand strategy in the UK; Electronics Boutique and GAME. ...read more.

Conclusion

I needed a retail property large enough to accommodate all of my products and their layout, including enough space that would be needed to present each part in a manner that is organised and invite the customer to look at our products. I also needed a property that was not going to push up my fixed costs so high that I could not possibly meet them, and would have problems in the long term in making a profit or be able to break-even. The first property that I had looked at was the most promising of all the properties in the Lurgan area. It was located at 35 William Street Lurgan. At �75000, this was the cheapest property that was currently available in the Lurgan area, and cost is an important factor, as I would wish to keep my possible costs to a minimum. I could attain a mortgage on the property meaning that I would not have to pay out such a large sum on start and not run into financial difficulties from the start. Also banks are always interested in investing in franchises as they are seen as less risky than most other business start-ups. The property is also a size that is feasible enough to hold everything that I require and also leave enough floor space for me to work with. I could use the top floors for offices for myself or to rent out to other firms. However these floors need some additional work done. The property is also located just 100-200 yards from the town centre and is adjacent from a car park meaning that this is a very accessible property. I found very few properties in the Lurgan area, with Century 21 stating 'most retail properties are sold before a brochure can be made'. The other properties that I had found in the Lurgan area where either too small, expensive, or located too far from the town centre. ?? ?? ?? ?? 2 ...read more.

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