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Would the opening of a new fast food restaurant in Sandhurstrepresent a sound business proposition?-

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Introduction

Louise Forbes Would the opening of a new fast food restaurant in Sandhurst represent a sound business proposition?-Yr 10 Business Studies Coursework Task 1 A sound business proposition is where there is a gap in the market to fill e.g. no clothes shops in Sandhurst. It is a legitimate (justifiable) proposal. It has to be a good idea- inventive, new, catchy and a profitable idea e.g. Dominoes. There has to be a high demand for that business to be profitable. It needs staff that are willing to work suitable hours. A good market share would help because then the business would be getting a good amount of sales compared to other businesses in the market. Bracknell Forest has a population of 109,606 people with approximately 25,000 of those people living in Sandhurst. It is a small commuter town about 30 miles from London. The town exists because it's an overflow from London. There are a few businesses in Sandhurst the only primary industries are small farms and very few of them. There are little or no secondary industries possibly a factory or two. There are lots of tertiary Industries - almost all of Sandhurst is tertiary. ...read more.

Middle

This shows that it might be a nice idea to make a healthier fast food place in Sandhurst so you can get more customers increasing the profit. According to the results 85% (most) people use fast food restaurants already in Sandhurst and only 15% don't. So opening a new fast food restaurant in Sandhurst would gain customers. Although according to the results only 30% (least) think Sandhurst is the best place to put a new fast food restaurant and 70% (most) don't. So Sandhurst may not be the best place to put a fast food restaurant. According to the results 45% (most) use delivery fast food restaurants, 25% people use take-away and 15% use drive through and eat in. This shows that most people use delivery so a new fast food restaurant would be most popular if it delivered. The reasons given to why people didn't want a new fast food restaurant to be opened in Sandhurst are... "There are already too many in Sandhurst and they are all on the same street" "Sandhurst is only a small town and it doesn't need to be filled with the same thing" "They take up too much space" "It's not healthy" "It's promoting unhealthy eating" "For a business proposition Sandhurst has plenty" "It won't make as ...read more.

Conclusion

There is no competition nearby so you won't have to compete. Although it might be quite costly because it's a big space of land, there is already something there now so we would have to buy them out. Here is a map of where I would like to place a new fast food restaurant. Price At the start I will price my food based on penetration pricing-pricing it low at the start attracting customers and then bringing them up after a month or two. After a month I will base my prices on the market and its characteristics. If I need to get rid of stock then I will give discounts, special offers and sales. I may have to offer loss leaders- which the products are priced so cheaply that the retailer makes no profit but they attract customers to the restaurant which could make them buy other products in the restaurant. I might increase my prices in the customers are prepared to pay more. To get my average cost for a meal. I will price it so that it will cover all the costs for it and add a percentage profit margin to make a profit. If any competition is under cutting us we will have to base the prices on the competition and under cut them to get the customers back. ...read more.

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