Feasibility Study of Starting a New Business :: GCSE Business Marketing Coursework

Feasibility Study of Starting a New BusinessIntroductionThis investigation will carry give away a test to see if it would befeasible to open a new nine, Sinners in Maidenhead town centre.Maidenhead is a small town in the atomic number 34 of England, located in thecounty Berkshire. The nearest major city is London, which is locatedtwenty-five miles east of the town.The reason I have chose to investigate this type of business actis because I take an interest in this type of business as I would liketo look into it in the future, and also feel Maidenhead possesses thequalities, and provides a great opportunity to start up a business ofthis nature and for it to be successful.To find out whether this business venture would be feasible, a feasibility study needs to be carried out covering all aspectsrelating to starting up a new business. Several tools will have toimplemented to do so.There are two main types of tools that will be used these admitresearch tools and analysis tools. Fir stly the primary research willinclude interviews and questionnaires, and from this the informationneeded such(prenominal) as demand levels and financial information will beanalysed to help with the final decision of the study. For secondaryresearch smart set account will be used, along with books, maps, andInternet sites. All these sources will allow me to find out about thelocal area of Maidenhead such as demographic information andstatistics. All this research will aid me in being able to make mylocation decision.There are several(prenominal) analytical tools that will be implemented, and thesewill be marketing tools such as PEST analysis and SWOT analysis,financial tools such as exchange flow forecast and break-even analysis.Then the final part of the report will be the analysis and conclusion,to actually see if it is viable to open a nightclub as a businessventure in Maidenhead.Secondary Research Objectives and methodologyObjective 1The first is to decide where in Maidenhead S inners is departure to belocated. Research on the infrastructure and rent values in maidenheadneeds to be carried out so information can be gained on some of mystart up costs. Locations of direct competition (other nightclubs),and indirect competitors (public houses/bars), which are located inthe area will be researched, so the scoop possible location can bechosen in Maidenhead for Sinners.MethodTo find out information on land values in and around Maidenhead I willvisit the local town hall and pick up some local information booklets.To find out about the local infrastructure and competitors ofMaidenhead, I will use the local Windsor and Maidenhead borough