Gum Shop Business Essay

Index

Executive Summary

This report “feasibility” identifying a new startup “business, plan or idea” of drinking a bubble gum tea while playing a claw machine on Middlesex street. This project will target students and employees in this specific area from Liverpool street till Aldgate. The goal/objective of the business is to satisfy the customer pain by offering them a new kind of tea while “gambling” in a short time and cheap price. Based on our survey … got the highest percentage of%.

The Pest analysis spotlights the issues that Brexit can have on importing raw material from Taiwan, besides the laws and regulation that need to be followed.

This business can be examined under Monopoly competition because it will be the first in the area,

Based on the average calculation, ..... people would walk during our functional hrs on daily basis.

Number of users

Time People

9:00

12:00

15:00

18:00

The business targets all different age of students and employees in the area with low/medium income, especially Asian students. Middlesex Street is enclosed by a numerous number of universities and schools, especially our location will be few seconds walking from four universities such as Coventry University London, Into the city, etc. , also 3-5 min walk from Liverpool Street station. It seems that the shop working days will be from Monday to Friday from 8:00 am till 19:00.

The market research was handled, to determine and discover consumer interest in the business plan. The survey was created from 7 questions and answered by 41 people in Middlesex street. The obtained result for the bubble tea was lower than expected by 53.7% never tried a bubble tea before and not willing to try it, however, the acquired result for claw machine was higher than expected by 73.2% would like to utilize the claw machine (survey graphs). 2Market research

Macro Market “PEST

It appeared that its quite easy to enter the industry/segment due to the low barriers to entry with low cost. If the business succeeds quickly, it might escort new competitors.

Bargaining power of buyers:

In last few years bubble tea became a famous trend to Asians , one of the main problems that they could not find enough options in the UK market. It seems that providing them with a specialized bubble tea shop will be a unique and special idea to meet their need. Owing to the fact that, the shop will be surrounded by various universities that have different cultures, therefore a higher chance to gain more customers.

The threat of substitute products or services:

There is not any direct competition that could impact us, however, differentiate our product will be the major key to differentiate us from all indirect competitors who are selling the same product by giving them the opportunity to design their own drinks by offering a variety of cups, tea flavour and bubbles, in addition, giving them the chance to win an expensive product while waiting for their orders through the claw machine. Tea prices will be cheaper than others by…