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Would Bramhall be a good place to start a business?

Extracts from this document...

Introduction

Would Bramhall be a good place to start a business? 1. Introduction and Background of Bramhall 1.1 Introduction This assignment concerns whether Bramhall would be a good place to start up a retail business. In this regard, I will attempt to indicate as to what sort of place Bramhall is, how wealthy the people living there are, and what types of retail businesses already exist there. Having considered all these factors, I will conclude whether this area is good for starting up a retail business and, thereafter, I will recommend what sort of retail business would do best. 1.2 Background of Bramhall Bramhall is located to the south of Stockport. The people living here are one of the wealthiest in the whole of Stockport. Hence, their purchasing power is higher than that of its neighbouring areas. The largest retail centre in Bramhall is located in the Bramhall village. In addition, some other small retail centres are scattered throughout the village. Moreover, there is a huge retail centre in Stockport, which is a few miles away from Bramhall. In Bramhall, modes of public transport such as bus services are not widely used because many people own vehicles. Due to lack demand for public transport, it has been realised that a good network of such transport is not needed. However, there is a good railway link connecting Bramhall to bigger cities such as Manchester and Birmingham. Also, Bramhall is benefited from a range good banking facilities. 2. Location Factors Before starting a local business, a businessman must be aware of the location factors. Generally this guides you how to choose a suitable location for the business intending to be set up. Mainly, there are six factors to be considered namely, supply, labour force, competition, transport, customers, and at last but most importantly cost. Supply factor is very important and essential because without that, a business would not have sufficient stocks to sell. ...read more.

Middle

Trevor: Well, naturally I would be inclined to go to a place where affordably. However, quality is also an important thing to me so we are prepared to pay a higher price if quality is guaranteed. Researcher: Do you consider any particular feature in such a supermarket? Trevor: Yes of course, I should not be wasting my time trying to understand what the goods are and where the prices are displayed. If these two things are clearly displayed I would be more than happy to shop at such a supermarket. Oh, there is one thing I almost forgot, a most important feature for me is car parking facilities, a supermarket without such a feature will be no good as parking is very hard in Bramhall. Researcher: Do you have anything else to tell me? Or do you have a question to ask? Trevor: No, and good luck with your project Researcher: Thank you. Thank you very much for your valuable time. 8. Analysis of Questionnaire and In-depth Interview To understand as to what kind of retail business to be set up, a questionnaire survey followed by an in-depth interview is an important tool of analysis. This section devotes to analyse data collected through the questionnaire and the in-depth interview. This exercise will help me to explain whether Bramhall would be a good place to open a retail business. For this purpose, I will use necessary statistical tools such as graphs and charts. I administered a short questionnaire and it included six closed questions which directly served the purpose of this project. Thirty people responded to the questionnaire. The answers were recorded in an answer sheet. However, before recording the answers to the questions, I managed to note down whether the respondents were male or female. The in-depth interview was to obtain a detail understanding of the answers given in the questionnaire. It was conducted with a friend of my father. ...read more.

Conclusion

Wealthier the population is the more they can spend. Next I shall consider the issue of council houses. The percentage of West Bramhall is almost half of the Borough. However, East Bramhall has only a mere eleven houses, which is just over one percent of the size of the Borough. Usually, the poorest places have the highest percentages of council houses. This means that East Bramhall (which has only eleven council houses) must be a very wealthy area. This results higher profits as I mentioned in the last paragraph. I will now look at the percentages of houses owned by the Housing association. In the Borough, 3% of the houses is owned by the Housing Association. This figure is much higher than that of East and West Bramhall which have figures of only 0.9 and 0.8 percent. This also tells me that Bramhall people in general are wealthier to have own houses instead of renting from Housing Association. In respect of privately rented houses in Bramhall, the figures are very low compared to the Borough. In the Borough, it is 4.8% whereas it is East and West Bramhall 2.5% and 2.9% respectively. This also repeats the same clue that Bramhall people are wealthier to have their own houses. 9.3 Economic Characteristics Economic characteristics are also important for me to make decision regarding setting up business in Bramhall. In East Bramhall, there are more full-time male employees compared to West Bramhall. In general the figures for both East and West Bramhall are comparable with many areas in the Borough. On the other hand, least male unemployed people live in both East and West Bramhall and this figure is much lower than that of the Borough and Greater Manchester. Economic figures on male are very important in making a decision because their economic condition is decisive for a family to become a better life. Since these figures are substantially positive in the focus area, I see that is a good place to setting up a retail business. 1 ...read more.

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