Set up your own business

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1. INTRODUCTION

In this assignment I am to investigate whether it is possible to create a business and perform market research .My business will be a new Chinese restaurant, it will specialise in Chinese foods, it will offer eat in and take away services, which also includes delivery. I chose a Chinese restaurant as my market research showed most people would prefer a new Chinese restaurant. I think it will be successful, as most people wanted a Chinese restaurant; and there aren't many in the area, the area that I am going to locate in, is Hendon. I've done a sufficient amount of market research to find out what prices people would be willing to spend on a meal and where people would like it to be located. Anyone can use a restaurant, which means my target audience would be everyone. So I need to promote well so it's appealing to all sorts of people. The two types of business organisation types I could use are either a sole trader or partnership. A sole trader is a business, which is run and owned by one person, this person makes the decisions, invests and is fully responsible for the