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

Feasibility Study of Starting a New Business Introduction This investigation will carry out a study to see if it would be feasible to open a new nightclub, 'Sinners' in Maidenhead town centre. Maidenhead is a small town in the southeast of England, located in the county Berkshire. The nearest major city is London, which is located twenty-five miles east of the town. The reason I have chose to investigate this type of business venture is because I take an interest in this type of business as I would like to look into it in the future, and also feel Maidenhead possesses the qualities, and provides a great opportunity to start up a business of this 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 aspects relating to starting up a new business. Several tools will have to implemented to do so. There are two main types of tools that will be used; these include research tools and analysis tools. Firstly the primary research will include interviews and questionnaires, and from this the information needed such as demand levels and financial information will be analysed to help with the final decision of the study. For secondary research company account will be used, along with books, maps, and Internet sites. All these sources will allow me to find out about the local area of Maidenhead such as demographic information and statistics. All this research will aid me in being able to make my location decision. There are several analytical tools that will be implemented, and these will be marketing tools such as PEST analysis and SWOT analysis, financial tools such as cash 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 business venture in Maidenhead. Secondary Research Objectives and methodology Objective 1 The first is to decide where in Maidenhead Sinners is going to be located. Research on the infrastructure and rent values in maidenhead needs to be carried out so information can be gained on some of my start up costs. Locations of direct competition (other nightclubs), and indirect competitors (public houses/bars), which are located in the area will be researched, so the best possible location can be chosen in Maidenhead for Sinners. Method To find out information on land values in and around Maidenhead I will visit the local town hall and pick up some local information booklets. To find out about the local infrastructure and competitors of Maidenhead, I will use the local Windsor and Maidenhead borough