City Kebab – Business Planning
In part of investigation I had decided to get people’s opinion about how they would react with a new Business. The purpose of this was to get information, which would tell me how to set up the business. In my interviewers I have asked 30 people about what they would think about a new business opening. I did not ask anyone who was on the street; I asked people who go normally shop at Stratford shopping center and students who study there, because I think it would give more information.
For this part of investigation I have used primary research which is data collected for a specific purpose, this involves going out and carrying questionnaire and interviews. This method can be expensive and time consuming. The advantage for primary research detailed information can be collected and the customers opinion can be collected which is useful, on the other hand the disadvantage is it will take time and also to analyze the results. I would also say that if the questions were not weal thought the results could be misleading.
The advantage for interviews questions can be explained if the consumers do not understand and a lot of information can be collected. The disadvantage is interviews are very time consuming. Analysis of the results The results from question 1 show me that 22 people said that they’re not enough kebab shops, which show me that it is safe to create a business. This shows me that if I can create a business it would earn profit. I could start the business by renting a large shop in Stratford shopping center. The problem I must be careful is that I must not open the business near Mc Donald’s, which is near the entrance.
I would provide my business near the middle of the shopping center, which there are no food shops that can affect me. For the business I must get a bank loan to start the business and also I would need it to pay the new stocks that will be coming in. The results for question 2 are that most people accepted fries and chicken. This information shows me that I would need to put chicken and fries in my kebab shop. There was another common food selection, which was lamb I would add this as well to earn more profit. The more food the more customers would get attracted.
This is very important for the business to run successfully to put what the customer customers wants. According to this information I would be investigating more products and also other businesses where I can buy stock. Before buying stock I would need to investigate places where they sell kebab for cheap prices and quality food. I would add more products to keep the customers in control, which can lead to be a market leader. The results for question 3 shows me that most people preferred vegetarian food and meat, which gives me a clear idea that I must sell these food.
I would be adding more food to make the business run successfully and also to attract customers. The reason why I would be selling these 3 foods in Stratford is because no shops there have lamb and chicken, which shows me that I could attract customers a lot. This would also increase the profits of City kebab. As I would increase the food that means I would increase the price. The results for question 4 shows me that people have chosen sweet food such as baklava and chocolate i?? clair, which is sweet food for customers. The reason why I have decided to add extra food like sweet is to attract customers and to earn more profit.
I did not put these ideas as it came through my head, which could have a big risk to the business. I did this according to my investigation, which shows me that no shops in Stratford sell sweet food, which is a big advantage to increase customers and profit. I think such ways like this could attract customers because people always like to try new things. The pricing is very important for the customers; the technique that I would use is selling my kebabs for example 2. 90 rather than 3. 00.
The reason why I would do this is because as you can see 2.90 looks very cheap which customers do not understand. This could attract customers a lot because people do not release there is only 10p difference. The result for question 5 shows me that customers are interested at price the most and quality with also make. This shows me that I must be careful with the price, quality and make for successful business. I make sure the price is at a stand arable price for the customers. In turn to make the customers happy I would need to focus on the quality. For the price I would decrease the price by pence to make it look cheap and to attract customers.
This is very important element to attract customers. The quality is very important as well to make customers satisfied which means I must sell quality food to make the business running good. I would again use the skill in price is which making the price look cheap for example 2. 90 rather than 3. 00. As you can see it looks much cheaper the truth is that there is not much difference which customers don not understand. I would use this crucial price point to attract customers as you can see price is the most important element that I must control.
The results for question 6 shows me those customers are willing to pay i?? 1-5 the most then i?? 6-10 as you can see on the bar chart. From this information I would need to make my prices at i?? 1-5 and i?? 6-10 to make the business run successful. Therefore I would apply to the pricing strategy at the certain amount of level, before this I must calculate the profits and use my basic skill to attract customers. According to this if the profit increases I would increase the prices slightly to earn more profit. I would not increase it a lot incase the customers get suspicious.
For the pricing I would crucial pricing point to sell my food. This is because it makes it look much cheaper so therefore I would sell more kebabs. The disadvantage for this is that I will have to sell a lot of my product in order for me to break even and to make a profit. Therefore I would investigate the local prices. The results for question 7 shows me those customers from different areas are willing to come to City kebab and by food. This information is very useful to me because it will give me an estimate how much people would be coming.
On the other hand some people have said no which means I would need to make delivery for customers who cannot travel and come. The advantage for this is that I will attract customers in different areas. The disadvantage for this is that people might not come in the shop and buy rather than keeping doing delivery, which would cost a lot because we must pay for driver, motorbike, and petrol etc. This would decrease the profits. According to this I would do delivery only outside Stratford, which would attract customers. This is very important for running the business successfully.