Finchley Central Essay Example for Free

Finchley exchange EssayThere is a selection of good transport links available in Finchley rally. The evidence of this point is shown in Graph 7, which shows west Finchley census data on the mode of transport people use to make a motion to work. The most crude form of transport is the vacuum tube, which depose mean that on that point can be many potential customers from the subsurface blank space as a spile of employed people would be leaving the station to go home in Finchley Central thus meaning that they could stop moody at coffee berry nation to possess a beverage. This can mean locating near to the train station, customers can be targeted strategically.Furthermore, coffee body politic is able to promote their products through advertising at these train stations and bus stops, so they are able to r apiece passing trade in the form of people exiting the train station, press re employ home in Finchley Central. Also, transportation links could result in deep b rown Republics suppliers whitethorn not be able to deliver goods efficiently. This demonstrates the idea of a sound business ending to lay here referable to the amount of prospective customers they can gain, and the amount of transport links that can cause deliveries to be do on time.Another sway for, is the position that Finchley Central has a large working population 71% of all residents in Finchley Central, are in someway economically active Table 5. 18% of which are in Class A, of the socio-economic classification, which shows that they are in soaring paid jobs much(prenominal) as lawyers, judges etc. Also, the mass of the population are in Class B, so they would also be earning a relatively high amount of income, they would usually be in jobs such as teachers, solicitors etc, Table 6. This can mean that a lot of the population in Finchley Central would bind a lot of disposable income to spend on the highlife products that coffee berry Republic offer. still, a counte r-argument for this point is that a large population can in fact lead to a shortage of labour, which can mean that when flavor for staff, they may motive to resort to flavour at local schools and colleges to find staff, as they can hire minors like these, for cheap payoff to work part-time. But, this doesnt necessarily mean that these workers leave alone be skilled, so on-the-job training will need to be provided, which will then increase business cost. However, it can mean that staff can gain skills over time, which means that operations on the shop floor can be more efficient.Opportunities-An argument for, to do with an opportunity is the fact that a joint hazard can be done be done with Tesco, so that twain businesses can win. A deal can be done betwixt two businesses, as the probable locations where this coffee tree Republic can locate are within the region of Tesco. The proposed deal can be that if a customer shows Coffee Republic a Tesco receipt on the same day, it means that the customer can get half price off coffee, this way both businesses can win, as both can get trade from customers.From my data, the majority of people in Finchley Central are willing to pay Graph 3, this means that people do not necessarily demand an super high price or low price for their coffee, this amount is a genuinely respectable amount, and if this venture is completed, it will mean customers will pay 75-99p. This seems like a low amount, but this sales progression will attract a lot of customers, so there is likely to be a feeler in sales and ultimately, a profit. This illustrates the idea of a sound business decision as both businesses earn customers, and will help to increase the popularity for both firms and could earn Coffee Republic a profit.A final opportunity and argument for, is the fact that ambition can be eliminated easily due to Coffee Republics reputable name. According to my data Graph 4, the most popular coffee shop that people prefer a Cost a shop, followed by a local. However, there are no large competitors in the area such as Costa data from upmystreet, there are only small scale competitors, mainly local cafs. However the data from peoples feedback shows that people like the local caf, so people may not want to steal from a branded franchise like Coffee Republic. But, this may not be the case, as Coffee Republic is likely to eliminate such small scale competition, due to its reputable name, so it will attract many customers that would go to the local cafs. This would then increase Coffee Republics sales and as competition gets hitchd out, market share will increase. This indicates the idea of a sound business decision, as Coffee Republic is almost guaranteed to get a lot of customers, as the affluent area of Finchley Central doesnt have a proper coffee shop its an untapped market, which will mean that it will be easy to wipe out any probable competition.Arguments against locating in Finchley Central-WeaknessesAn a rgument against, which is a weakness, is the fact that the extension crunch has cut peoples spending on indulgences such as what Coffee Republic has to offer. This is best reflected in the interview which I conducted, refer to interview, where a possessor gave us his first hand view of what has happened to its sales in this economic dilemma. The owner stated that recently, maybe as a result of the credit crunch, its very quiet. rather of buying two cups of coffee with a snack or meal they are buying a single.This shows that the credit crunch may have hit hard on the Finchley Central population, as the owner stated that its much quieter since the credit crunch has happened. A counter-argument which can solve this issue is something that another big branded coffee franchise has initiated. Starbucks has issued free refills on their coffee due to the credit crunch. This could be something that Coffee Republic can initiate if they want to beat the credit crunch, and retain their cust omers. This would not be a sound business decision, as the people who are affected by the credit crunch may not want to pay the high price for the quality products that Coffee Republic provide, so they may not have as many customers as they would want.Recommendation-Finchley Central is a well off area brimming with a lot of potential and in my opinion, a sound business decision to set up a new Coffee Republic franchise there. It is an area with a very affluent community and has great transport links making the accessibility high because it is unaired to the motorways, it can ensure that efficient deliveries are made. Taking into account all the research which I have done, I would conclude that Finchley Central is a very good location to set up a Coffee Republic, however there are many potential exact locations where it can be set up in Finchley Central.A potential site for a new Coffee Republic would be inner Tescos. Tescos is one of the most leading supermarkets in the UK they ha ve a large customer base ranging in the midst of all ages. By locating in spite of appearance the Tesco store, the two businesses can undergo a joint venture, which I already have mentioned in my evaluation show Coffee Republic a Tescos receipt and get half price off a standard cup of coffee. If a Coffee Republic were to open in Tescos it is likely that people would buy Coffee whilst shopping or after shopping. However, the initial costs for opening up the new franchise in Tescos will be considerably more than if it exposed up elsewhere. Also, placing a Coffee Republic inside the UKs leading supermarket would cost a lot. Tescos may have to negotiate a fair share of the profits made by Coffee Republic.By looking at my secondary data from the West Finchley Census, I can see that the majority of residents in Finchley Central, travel to work using the underground Graph 7. Consequently, the location of a Coffee Republic inside Finchley Central underground tube station could be a soun d business idea. By locating in the station, there is a possibility of applying for a government grant. Due to the credit crunch and economic downturn, creating jobs is something that the government would want big companies like Coffee Republic to do this would increase the chance of Coffee Republic acquiring a grant.On the other hand, by locating inside the tube station, Coffee Republic would be narrowing down their potential market, as it may not be seen inside the tube station they wouldnt have a lot of scope for customers. But a counter-argument for this is that, hundreds of people use the underground each day, so its likely that Coffee Republic may pick up some customers, as commuters enter and exit the tube station.The final option is to locate on Station Road which is close to Finchley Central station. In my opinion this where Coffee Republic should locate. The site at the moment is vacant and is situated close to potential customers such as offices, banks etc. The advantage of locating on Station Road is that it is of comforting size. If opened up on Station Road, they wouldnt have to pay money to other company, if they want to lease the building it also has a large potential customer base. However, it may be more high-priced setting up the new franchise on Station Road as opposed to inside the station or in Tescos. This is because this a hotspot as it is situated near to the main road, so there could be potential competition between firms for that spot. Nonetheless, I think that Coffee Republic should locate here due to the potential customer base, probability of joint ventures, and the size of the site.