• July 18th, 2016

Is Fast Food a good market in which to set up a new business in the UK?

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To answer the question, you should think about:

Defining the scope of the market i.e. is it local, regional, national, global?

The focus of the market/essay are you investigating the market for shoes or mens shoes or mens fashion shoes etc.?

How large is the market?

Is the market growing or shrinking?

Who are the target customers?

What are the characteristics of target customers e.g. nationality/gender/age/income bracket/lifestyle preferences?

How competitive is the market?

Which businesses/products are the market leaders?

Is there a gap in the market for a new business/product?

Which part of themarket should a new competitor target? E.g the luxury end of the market might be growing but the cheap end might be shrinking?

Is there potential for reasonable profits in this market?

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