Research Methodology

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Research Methodology

Section 1: Background

The thesis idea of starting up a restaurant business came from the spirits of coffee in United Kingdom. The topic of research is to develop a business plan in order to find out the competitiveness of the proposed business in the market. The principle on which the thesis is developed is to find out the advantages of running similar businesses in the coffee industry and to find out the factors due to which the sustainability of the business is maintained.

Problem Statement

The problem statement of the research is to find out the reasons due to which the coffee restaurant business of 'Bistros' will be able to compete with other brands present in the market and find out the advantages of running a similar business in coffee industry of UK.

Aims and Objectives

The major aims and objectives of the study are to conduct a research to find out the target market and provide a detailed business plan. The other objectives of the study is to develop a business plan for a coffee restaurant that is able to compete in the emerging coffee industry of UK and find out the advantages of running a similar business so that Bistros Coffee Restaurant owners are able to achieve sustainability in their business. These advantages will enable the owners to have a successful business in the future.

Structure of the Proposal

The structure followed for developing a business plan will include research on the basis of primary and secondary data so that initiators of the business are fully aware of the industry characteristics and the consumer behaviours which will help in finding out the target market for Bistros Coffee restaurant. The secondary data on which the literature review will be based includes information about the UK coffee industry, market segments of coffee industry, consumers attitude and key players in the coffee industry. After developing a basis of the business development plan, primary data will collected through questionnaire, surveys, application of marketing techniques for e.g. Gantt chart and SWOT analysis. Therefore, literature review, research methodology, data analysis and; ethical, validity and presentation will be included. The duration of research conducted to develop a business plan will be summarized in the activities chart in the methodology section.

Section 2: Literature Review

In recent times, business development plans have become one of the major reasons for starting up successful businesses that are able to maintain their stable position in the market for a very long time. According to a research by Castrogiovanni, Justics and Julian, (1993) have stated that businesses fail due to shortages in the start-up funds and due to poor planning by the business owners. The research showed that business plan has able to facilitate in reducing the risk of failures by using planning and providing correct estimation of the capital needed. The paper will examine different type of the business plan for which will it will consider the literature based on the restaurants and their business ...