I have compared from different karting track to come up with my prices which are mainly cheaper than the other competitors.
The go-karts will cost £799.99 and I will buy 5 to make sure I have enough for the customers; this will come to £3,999.95.I will also buy a 1500 litre fuel tank and pump to hold all of the petrol which will cost £704.99. (petrol not included)
Place
The place of the selected business is in Old Catton as it is lacking in a fun thing to do and will attract more people to the area. There are no competitors around the area and nothing else to do, which is fun for the younger generation to do.
Product
The products that I will be offering are driving the go-karts around the track, for a specific amount of time.
Market research
I will conduct market research around my town and ask questions such as ‘is a go-karting track in old Catton…’ to find out wherever it would be a good business to do and if it will be popular enough to make a profit and attract customers.
What I want to find out
- Opening hours – to find out the opening and closing hours which will be suitable for the customers need and wants and what the best time is for most people to visit.
- Staff needed – to find how many staff required to run the business smoothly.
- How many potential customers there are – to find how many people are interested in the business.
- How much they earn – so I can find out how much they earn and base the costs around it.
- The target market – to find which people to target and suit the product around them.
- What age range would come to the track – so I can base the design and the track on difficulty around the age range that will be attending.
- Is it in a good position – to find out whether it is in a suitable position and accessible for the customers to access.
Questionnaire
1. How often to you go go-karting in a year?
2. How old are you?
3. What is your gender?
3. How much do you earn in a year?
4. How long would drive for at one time?
5. What would you think about a go-karting track being built in Old Catton?
6. Do you think the town is lacking something fun to do for the youth?
7. Do you think a go-karting track would attract a lot of people to the area?