CUSTOMER FEASIBILTY ANALYSIS Research Paper Example | Topics and Well Written Essays - 2000 words

CUSTOMER FEASIBILTY ANALYSIS - Research Paper Example The plan for the proposed restaurant is divided into different sections Micro –Level Market Assessment This section reveals the target market intended by the restaurant to offer its products. Family with children and tourists of all age group irrespective of their appetite are the major target customers. Macro Level Market Assessments This section illustrates the market size and growth option for the restaurant. Accordingly, the population of the region is rising at a constant speed and the number of visitors also is increasing. Hence, the market size is relatively large and there also lies greater opportunities for the restaurant to expand the business. Macro Level Industry Assessment This section postulates the food and drink industry assessment. Accordingly, the bargaining power of customers, competition, threat of substitutes, threat of new entrants and suppliers bargaining power are moderate to high in the region. Micro Level Industry Assessment This particular section de picts the financial forecast for the proposed business. Accordingly, the start-up cost for the restaurant is estimated to be ?214,000. Accordingly, for the first four months of the start-up year, it is projected that there will be no profit. However, it is expected that the restaurant will gradually start earning substantial revenue and it is projected that the total revenue of the restaurant will exceed ?2 million. Team Assessment During the early stage of its commencement, 10 skilled and competent employees will be hired. The role of each staff will be to offer quality services to the potential customers. Summary and Conclusion This section summarizes the important points revealed in the report and duly concludes the report. To sum up, it has been ascertained that the idea of starting hala restaurant is projected to be immensely beneficial for the owners and at the same time it has potential opportunity to expand the business in the long run. SECTION 2 Micro –Level Market A ssessment: Overview of Primary and Secondary Research Undertaken To start up a business, it is essential to conduct research as the basis for the business plan in order to forecast the potential sales and growth for the proposed business. Thus, in order to execute the business plan of opening a hala restaurant in Liverpool, both primary and secondary research were conducted for ascertaining the viability of the proposed business plan. Correspondingly, secondary research was conducted using industry profiles, newspapers, demographic profiles and magazines. Additionally, primary research was conducted using yellow pages to identify competitors existing in the target market. Target Market and Its Pain Identified The proposed hala restaurant intends to operate in Liverpool. This location has been chosen due to various reasons. One of the most imperative reasons for the selection of the target market is that there are not many hala restaurants operating in Liverpool. Another vital reason for choosing Liverpool as the target market can be attributed to the constant increase in the number of visitors to the city. Despite the fall in the number of travellers visiting the United Kingdom, there has been a significant increase in the number of visitors visiting Liverpool (BBC, â€Å"Liverpool Area Tourism Figures Increase†). Correspondingly, this restaurant will offer an attraction for the local population irrespective of the age or appetite. At the same time, families with school