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Assess whether a tuck shop is likely to be a successful business if it were to set up in the school.

Extracts from this document...

Introduction

Introduction The aim of my investigation is to assess whether a tuck shop is likely to be a successful business if it were to set up in the school. The businesses objective is to sell confectionary items such as sweets, chocolates and drink. The brand and type of confectionary will be decided based upon the questionnaire and my other research. As my questionnaire suggests, it is common knowledge that the canteens prices are over priced and their quality and services is poor. With my prices being competitively priced, the canteen will be in high competition. Furthermore, I think that as there is only one business in the Watford Grammar school market, it will be easy for me to compete. Success Criteria As the objective of my investigation is to measure the success of the business in the school, I will then need to select success criteria. The criteria I chose must be able to use on predictions made with the market research, therefore, customer satisfaction is automatically ruled out. The reason for this is that I cannot be measured until the business is established. One method I could use is return on capital employed (ROCE). But, the result give can be inaccurate on the success of the business. This is because if the capital used is very low, the amount of return you will receive will be high even though there is a low amount of profit. ...read more.

Middle

Pilot Questions 1. How often do you go to the canteen 2. What do you think of the canteens prices- Overpriced or reasonable? 3. Do you get cheap or Reasonable cost goods? 4. What is your main expenditure a day at the canteen? 1 1 a week 2 a week 3 a week 4 a week 5 a week 5 2 1 0 2 2 0verpriced Reasonable 9 1 3 Cheap Reasonable 3 7 4 Less than 50p More than 50p More than 1.00 0 3 7 Actual Questionnaire 1. How often do buy sweets a week? 2. How often do you buy drinks a week? 3. Would you be interested in a new Tuck Shop? 4. Do you think the Canteens products are overpriced? 5. How would you spend at the new tuck shop each time you visit 6. Do you get cheap or Reasonable cost goods? 1 a week 2 a week 3 a week 4 a week 5 a week 1 5 2 1 0 2 2 0 1 2 2 5 3 Yes No 9 1 4 Yes No 9 1 5 50p a time 50 to 1.00 a time 1.00 or a more 0 3 7 6 Cheap Reasonable 3 7 Set Up Costs The Costs Where From The Price Fridge, Double Door Volvic �1050 Cadburys Display Stand Cadburys �Free Electric Extension Cable Maplin Electronics �6.99 Cash Register Costco Wholesale ...read more.

Conclusion

My wage is �900 Profit Loss School for the First School Year Sales Revenue �63,090 Cost of Sales Gross Profit �33,410.52 Overheads �900 Set Up Costs �1750.98 Operating Profit �32,510.52 Interest Receivable 0.00 Interest Payable 0.00 Profit Before Taxation �32,510.52 Tax �5,689.34 Profit after Taxation �26,821.18 Dividend 0.00 Retained Profit �26,821.18 A tax rule states that if your turnover is below �60,000 approximately. I will not have to pay any tax on it. These are my sources that I used: * Nuffield-BP Business Studies and Economics for GCSE * Kishor Nathwani- Business owner of shop near school ON Ricky High Street-he gave me info of other wholesalers and product choices. * Convenience store magazine, June 39- July 13 2006 issue- From this I receive information concerning new products that are released on the market and also other product and market information. * I also received data on prices from the Blueheath national Price List. From this I am give all * I have got from Nestle the Top selling chocolate products list and also their RRP. * I have also got the Cadburys Trebor asset price list that cover the year 2006 * I have also got from Dhamecha Group wholesaler the special offer prices for during the world cup. * I also used data obtained from Sodhexo Canteen, Watford Boys Grammar School ?? ?? ?? ?? Tushyam Sonecha Business Studies Coursework 10B Page 1 of 14 ...read more.

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