Management reserch report

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First of all, I think what business I will be started, I researched, than I decided I will be started my sandwich shop. I will give It's name wembley park sandwich shop. There are seven reason to start my sandwich shop in today's recession period.

  1. The market is huge, and getting better
  2. Uk's sandwich market is very huge. Last year uk's people perched approximately 2500 million sandwich. Currently It's market value is £3500 million. It's growing more and more.

  3. Picture the scene
  4. (i) Enough time to prepare sandwich (ii) cheap cost (iii) people have more choice

  5. You can run a business and have a life
  6. Sandwich shop run 5 days in a week. While some business run 7 days a week. In a sandwich shop working hours is very reasonable. So you can enjoy your life.

  7. You can involve the family
  8. A sandwich shop offers opportunity for the whole family and especially teenagers to helping out, with a spot of book keeping or a trip to the cash and carry.

  9. Flexibility
  10. In sandwich shop, you can also sell bagels, wraps, baked goods of every description, salads, organic foods, fresh fruit etc. you can also start up your mini bakery, outside catering, a food delivery service, mobile van sell, event catering, internet ordering or even open other shops and starting your own Empire.

  11. people have to eat
  12. In this recession period, sandwich shop still have customers. During economic down turn people have to eat. In this period they don't go to sandwich shop. But they prefer to go to sandwich shop because sandwich shop offering a reasonable prices.

  13. you don't need any particular Qualification

To run sandwich shop you need these below skills. (i) Good common sense (ii) good interest (iii) readiness to learn (iv) Book keeping (v) small business management

I have not all these skills but there are many place to get help as well as advise and you will get these skills.

Mission statement

my mission statement is to become the biggest and big value store in the wembley park. My business will follow SMART (smart, miserable, agreed, realistic, time specific). My business will provide tools and knowledge to allow successfully in the quick service sandwich shop.

Aims and objectives:
  1. Design a shop whereby customers is achieved and friendly service offered
  2. Produce a profit making business
  3. Bridge the gap between social classes by giving high classed products
  4. To diversify the business
  5. Evaluate the present situation
LOCATION

There are several reasons, so I will open my sandwich shop in wembley park area.

Many offices are located in wembley park and my main consumers are working people. Eg Apex offices interiors ltd, Excees Baggage company, plats motor company, the London boiler company etc.

Also, Wembley stadium is near to the wembley park. Many events planned there in every weekend as well as many sports are playing there. So lots of visitors come in this area.

There are colleges in wembley park. Eg College of North West London. College students are also my key consumers. So I prefer to open my sandwich shop in HA9 area.

There is Wembley park underground tube station in HA9 area. It is connected to wembley central, Bridge road, and central London. Tube: jubilee and Metropolitan

THE MARKET

This is the world of commercial activity where good and service are bought and sold. Without any competitions there would be no market. A niche market is small business providing specialist or rare products to customers. Niche market business have grown and popular. They produce good and service in huge quantities. I am entering a niche market in wembley park. I want to open sandwich shop in this market. I expect high competition as there are several sandwich shop in HA9 area. I expect annual sales of sandwiches to be over 14000 as a minimum target to exceed.

There are local and national companies of sandwich in this area. One of the national Company such as subway who have stores all over the country. I have identified subway is the main key business of my market or main my competitors. But they don't have much power in this market.

I will prepare luxury product. It is not something that is needed by costumers. They will only perch a sandwich If they feel like it. A sandwich is only wanted if a person is hungry compared to a bus ride to work then a person has to take up this service.

CONSUMERS

  • Normally, people are buying the product on the basis of their economy. I am concentrate on the age between 16 and 60 both male and female.
  • I think these age people are living Wembley. So, I believe that these age people are my target for my business. I will have sandwiches that appeal to this age group like Ham, vegetarian, cheeses and chicken spicy more for people in the lower end of my age group.
  • Men are the main consumers for sandwiches. I will be aiming my sandwiches at them as this will meet their needs and will therefore, increase my customer base and profit. Women are more health conscious. Therefore by providing healthy sandwiches. I will be able to satisfy women in eating their balanced diet.
  • My sandwich shop consumers are working people who are working in the Wembley park offices.
  • There are many visitors come to the Wembley stadium for watching events and games. These visitors are also my main consumers.
  • Many events are planning every weekend in Wembley Arena. It is near to the wembley park area. Many visitors come to the wembley arena for watching events. These visitors are also mu consumers.
  • There are many schools and colleges in Wembley park area. Eg College of North West London These college and school students are my key consumers.

COMPITITORS

  • Competition is the act of striving against another force for the purpose of achieving dominance or attaining a reward or goal. I have researched on yell.com by the internet. I got 8 results of sandwich shops in the HA9 area. There were national and local businesses.
  • I identified my key competitors are
  1. Sub way HA9 9AG
  2. Peppercom sandwich bar HA9 0RQ
  3. Big bite sandwich bar HA9 8PS
  4. The Moulin cafe HA9 8HQ
  5. The London lunchbox co HA9 8JU
  6. The Early bird HA9 0RG
  7. Goldilucks HA9 6QU
  8. Sunrise café HA9 8JU

Key Activities

Promoting:-
  1. Promoting is most important factor for attracting to customers.
  2. I will promote the college students by giving quite place where they can study and relax.
  3. I will promote the children by giving a extra discount.
  4. I will promote the working people by providing internet facility which facility not providing other shop.
Marketing:-
  • I will be using to advertise to reach my customers are Local radio, Local news paper, Leaflets
  • I will be advertising locally as it will be cheaper and easier to reach my potential customers living in wembley park.
  • Advertise on TV, will be very expensive for my sandwich shop therefore I will not consider this type off promotion.

SWOT ANALYSIS

Strengths
  • An established and well known market making high profits
  • Wembley stadium and wembley arena is near to the wembley park where many musical and sports events are program.
  • High quality staff employed, I will have the right staff for my business to create quality, customer satisfaction and good service which will build up my shop image.
  • Wide range of products offered to meet customer needs and provide quality service to Comfort customers.
  • Buy in bulk to get discount
  • Good relation with supplier.
  • Take away and eat in
  • Bright, clean, attractive
  • Near to the wembley park tube station
Weakness
  • Lake of foreign expertise in my shop which may cause difficulties for me and my staff communicate with foreign tourists
  • Since it is existing marketing it will be difficult to attract customers from their regular eating places.
  • I will not be able to make profit in first few years as customers go their regular shop.

Opportunities

  • When I will have regular customers and good reputation built up, I will also start to sell coffee in sandwich shop.
  • If my shop generates enough I could develope staff skills which will improve the quality of service provided to customers.
  • Growing obesity in the UK encouraged people eating healthy food.
  • If my shop will be successful, I could diversify and have my shop selling sandwiches overall.

THREATS

  • If my sandwich shop is not successful and national minimum wage increases, it will become expensive to employ staff.
  • Competitors may be planning to change their menu and have similar product or service launch.
  • Increasing income tax or interest rates may reduce peoples spending, they may prefer cheap alternatives.

PEST ANALYSIS

POLITICAL
  • Changes in the law and political environment can affect both costs affect both costs and demand eg. Taxes
  • Government legislation to ensure, the business does not break the law and are sorted out quickly
  • (1) The food premises regulation - 1993

  • Extended food preparation or cooking is carried out;
  • The foods by their nature are subject to spoilage, rapid bacterial growth, or require a level of protection;
  • The nature of the activity demands specific finishes, equipment or fixtures.
  • (2) Food and safety act - 1990

  • Prohibit sale of unfit or adulterated food.
  • Control the quality, standard and claims made for food.
  • Control its description, advertising and labeling.
  • (3) Food labeling regulation - 1996

  • The Food Labeling Regulations 1996 to provide for information about the country of origin of food to be made available to consumers; and for connected purposes.
  • (4) Price marking order - 2004

  • Where goods are offered for sale to consumers, the order requires the selling price to be displayed, inclusive of VAT and all other taxes.
  • (5) Sale and safety of goods act - 1984

  • Detail the rights of purchasers and the duties of sellers in the sale of goods.
  • (6) Healthy and safety act - 1974

  • I as the employer need to produce a written statements of the healthy and safety policy, including details on how the policy should be carried out. This will include details of safe working practices, how accidents should be reported. Aid representatives any other revent issue on healthy and safety.
  • If the government increases tax or the National Insurance Contributions, it will increase my business costs.
  • Government may change attitudes or polices towards people opening up a business.
Environmental
  • The state of national economy may have effect on my competiveness and success.
  • Unemployment is law in wembley park area.
  • Interest rates high combined with law unemployment. This means there will be an average number of customers.

Social: Social factor affects on a workforce and the customers.

  • Test and preference may change over time.
  • Desire for certain types of products.
  • Population determines the size of the products. Population in wembley has increased over the past few years.

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