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Quantitative Methods Management Report SURREY & HAMPSHIRE RESTAURANT SECTOR

Extracts from this document...

Introduction

MANAGEMENT REPORT SURREY & HAMPSHIRE RESTAURANT SECTOR MANAGEMENT REPORT SURREY & HAMPSHIRE RESTRAUNT SECTOR EXECUTIVE SUMMARY This report analyses the survey conducted by the Kingston University Small Business Development Unit. The survey was carried out in Surrey and Hampshire, and looked at restaurants in the area. The report states that large sized restaurants dominated the restaurant sector in the area of Surrey and Hampshire. The majority of these can be classified as being in the fast food sector, thus, they are company-owned franchises. This therefore indicates new small business should launch a fast food restaurant as this type of restaurant would be the most profitable market. As the summary measures have shown the business outlook of restaurants within the Surrey and Hampshire areas is bordering unfavourable and this is a damaging environment for new business and therefore they should be wary. However even though the outlook is bleak there is a potential to earn an average gross sales of �100,000 to �140,000. The company-owned restaurants also dominate the sector in Surrey and Hampshire, hence it may be a difficult market for small businesses to break into as company owned restaurants or franchises such as Mc Donald's are very well established with strong brand names and consequently have brand loyalty; this form of business also has large amounts of capital invested in them. Company-owned restaurants dominate the area therefore making it harder for a small business to operate successfully. However, if they were to open a fast food restaurant, or increase expenditure on advertising and promotions they are a lot more likely to be successful MANAGEMENT REPORT SURREY & HAMPSHIRE RESTAURANT SECTOR CONTENTS PAGE INTRODUCTION .............................................................................. PAGE 4 RELEVENT SUMMARY MEASURES ............................................... PAGE 5 MARKET SHARE BREAKDOWN ................................................... PAGE 6 BUSINESS OUTLOOK VS RESTAURANT TYPE ................................. PAGE 7 AVERAGE AMOUNT SPENT ON ADVERTISING ...............................PAGE 8-9 PERCENTAGES ......................................................................... PAGE 10 CROSS CLASSIFICATION TABLE OF RESTAURANT SEATS ................ ...read more.

Middle

of Seats Per Type of Restaurant Fast food 113 65 Private dinner/lunch 77 90 Business dinner/lunch 73 62 Unknown 12 The total amount for each seating type is similar for each type of restaurant. This may represent the fact that there is roughly an equal amount of demand for each restaurant type overall. CONCLUSIONS The most significant responses identified from the survey are questions 8-13 as these indicate the types of restaurants and. Questions 2-7 indicate a financial estimation of the restaurants in the sector with estimation of current value, cost of goods and capital invested. The responses to the survey have been used to evaluate the current status of the restaurant sector in Surrey and Hampshire. The findings in the report showed the highest market share in the restaurant sector was dominated by the large-sized restaurants. The fast food type restaurants also dominate the restaurant sector, as the food is easy to obtain over the counter and is relatively cheap. As the summary measures have shown the business outlook of restaurants within the Surrey and Hampshire areas is bordering unfavourable and this is a damaging environment for new business and therefore they should be wary. However even though the outlook is bleak there is a potential to earn an average gross sales of �100,000 to �140,000. The company-owned restaurants also dominate the sector in Surrey and Hampshire, hence it may be a difficult market for small businesses to break into as company owned restaurants or franchises such as Mc Donald's are very well established with strong brand names and consequently have brand loyalty; this form of business also has large amounts of capital invested in them. RECOMMENDATIONS A survey was compiled with the purpose of analysing the current status of restaurants in the areas of Surrey and Hampshire. The responses collected helped to develop useful data for small businesses, which plan and operate in the same sector or area. ...read more.

Conclusion

Thus the data is unevenly distributed. APPENDIX 8 Comparison of the Number of Seats in Each Type of Restaurant Restaurant Number of Restaurants Average No. of Seats Per Type of Restaurant Fast food 113 65 Private dinner/lunch 77 90 Business dinner/lunch 73 62 Unknown 12 -Identified restaurants all added and then divided by known restaurants APPENDIX 9 Question Mean for small restaurants 1) business outlook 3.17 2) gross profit 134.23 3) capital invested 5.23 4) market value 127.01 5) cost of goods sold 39.32 6) annual wage bill 17.25 7) advertising expenditure 3.3 8) type of restaurant 1.78 9) seating capacity 43.72 10) form of ownership 1.66 11) full-time employees 8.63 12) part-time employees 5.42 Question Median for small restaurants 1) business outlook 3 2) gross profit 100 3) capital invested 3 4) market value 125 5) cost of goods sold 45 6) annual wage bill 20 7) advertising expenditure 2 8) type of restaurant 2 9) seating capacity 44 10) form of ownership 1 11) full-time employees 10 12) part-time employees 4 Question Standard deviation for small restaurants 1) business outlook 1.45 2) gross profit 303.4 3) capital invested 11.16 4) market value 13.79 5) cost of goods sold 15.69 6) annual wage bill 10.20 7) advertising expenditure 6.34 8) type of restaurant 0.85 9) seating capacity 35.84 10) form of ownership 0.89 11) full-time employees 5.70 12) part-time employees 4.36 Question Average for small restaurants 1) business outlook 3.19 2) gross profit 145.5 3) capital invested 6.36 4) market value 143.2 5) cost of goods sold 49.07 6) annual wage bill 21.91 7) advertising expenditure 4.24 8) type of restaurant 1.88 9) seating capacity 45.6 10) form of ownership 1.69 11) full-time employees 9.29 12) part-time employees 5.50 Question Variance for small restaurants 1) business outlook 2.12 2) gross profit 92051 3) capital invested 124.6 4) market value 19037 5) cost of goods sold 246.4 6) annual wage bill 104.3 7) advertising expenditure 140.3 8) type of restaurant 0.73 9) seating capacity 1285.2 10) form of ownership 0.79 11) full-time employees 32.53 12) part-time employees 19. ...read more.

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