In 20013 Louis was planning to open a family pub and restaurant in Boxhill, the large...

  

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In 20013 Louis was planning to open a "family" pub and restaurant in Boxhill, the large village where he lived. There were already two other pubs that serve food in the village, but a big new housing estate, of mostly one and two bedroom houses, was due for completion in Boxhill at the start of 2014. Louis wanted to open his pub (the Golden Crown) to coincide with the completion of the estate. Having spent a lot of time and money on market research, Louis came up with some estimated figures about the local restaurant. Louis is confident that there is plenty of room for his new business in the market. Louis' estimates are shown below. (The term 'turnover' means total sales for the business). PUB/RESTAURANT IN BOXHILL The Fox The Swan Golden Crown a) b) C) NO. OF DINERS 100 50 30 2018 TURNOVER (£) 500,000 300,000 2019 TURNOVER(£) 550,000 330,000 200,000 Calculate the total size of the Boxhill restaurant market in 2018. (2 marks) Assuming Louis's forecast is accurate; calculate market growth between 2018 and 2019. (2 marks) Calculate the market share of The Swan in 2019. (2 marks) d) Discuss whether Louis is right to be confident that his business will succeed. (9 marks) A couple of points as this is your first assessment. First, notice the way I have right aligned the figures. This endures that the columns align correctly. It is the professional way to show figures. This isn't a word processing course, so there are no marks for such things, but why not get into good habits now? Also show the currency symbol in the header. Then you do not have to repeat it on each line. In section d you should give both sides of the argument. It is fine to reach a decision and state it, but you must not show only one side of the case. Polemics don't score full marks. In 20013 Louis was planning to open a "family" pub and restaurant in Boxhill, the large village where he lived. There were already two other pubs that serve food in the village, but a big new housing estate, of mostly one and two bedroom houses, was due for completion in Boxhill at the start of 2014. Louis wanted to open his pub (the Golden Crown) to coincide with the completion of the estate. Having spent a lot of time and money on market research, Louis came up with some estimated figures about the local restaurant. Louis is confident that there is plenty of room for his new business in the market. Louis' estimates are shown below. (The term 'turnover' means total sales for the business). PUB/RESTAURANT IN BOXHILL The Fox The Swan Golden Crown a) b) C) NO. OF DINERS 100 50 30 2018 TURNOVER (£) 500,000 300,000 2019 TURNOVER(£) 550,000 330,000 200,000 Calculate the total size of the Boxhill restaurant market in 2018. (2 marks) Assuming Louis's forecast is accurate; calculate market growth between 2018 and 2019. (2 marks) Calculate the market share of The Swan in 2019. (2 marks) d) Discuss whether Louis is right to be confident that his business will succeed. (9 marks) A couple of points as this is your first assessment. First, notice the way I have right aligned the figures. This endures that the columns align correctly. It is the professional way to show figures. This isn't a word processing course, so there are no marks for such things, but why not get into good habits now? Also show the currency symbol in the header. Then you do not have to repeat it on each line. In section d you should give both sides of the argument. It is fine to reach a decision and state it, but you must not show only one side of the case. Polemics don't score full marks.

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a To calculate the total size of the Boxhill restaurant market in 2018 we need to sum up the number of diners from each pubrestaurant Total size of th... View the full answer