Business Research sample essay
Our research is concerned with the different factors affecting revenue of fast food restaurant located in close proximity of educational institutions. The purpose of the research is to study how exactly consumers disposable income impact the fast food restaurants revenue. For conducting the research, the sample of data has been taken from students; teachers and administrators of two colleges say Bangalore Management Academy and CRM IMS. The results reveal that restaurants make much profit on school days and less profit when closed because the success of the restaurants depends on consumer’s disposable income. INTRODUCTION.
INTRODUCTION A fast food is a food that can be cooked and served very quickly sold in restaurant. We noticed in the last decade, a growth of fast food restaurants in India as Indian eating-out habit has considerably increased. This phenomenon is also observed where we could daily see a flux of adolescent and youngest population and that places are nothing but nearby educational institutions. The targeted customers are mostly students, teachers, administrators and people located in close proximity to educational institutions and the aim of the restaurants owners is to make profit, maximize and sustain their revenue.
However it exist a relationship between restaurant’s location, revenue, and consumers disposable income. PROBLEM STATEMENT Although, building a fast food nearby educational institutions is the most suitable way to get many customers and make more profit but this also can have bad side effect because it is not taking in consideration of some factors like consumer’s income, and schools days. HYPOTHESIS Variation of consumer’s disposable income impact the revenue of fast food restaurants located in close proximity of educational institutions.
SIGNIFICANCE OF THE STUDY This proposed research will determine the factors affecting educational institutions’ proximity fast food restaurants revenue. STATEMENT OF THE QUESTIONS What are the students and school administrators eating-out habits? What are their disposable incomes? How do their spend it? In what way consumer’s disposable income affects the educational institution proximity fast food’s revenue? SCOPE AND LIMITATION The scopes of this research are the fast food restaurants located in close proximity to educational institutions.
The limitations of the research are the restaurants that are not reachable by the educational institutional members which are allowed to participate in the research. LITERATURE REVIEW LITERATURE REVIEW One of the rising businesses that have become a considerable phenomenon in India is fast food restaurant. Caused by Indian eating out habit that becoming very popular, fast food restaurants is also slated to growth approximately by 20% per year (Gaurav Marya, 2012).
Fast foods business have been such that they continuously changing along with the time and life style changing and they get adapted to immigration, travel as well as socio-economic environment (Kittler and Sucher, 1995). However, in order to attract customers, fast food restaurants afford different foods at different prices according to consumer’s income and eating habit. The restaurateurs have a clear understanding of the customer’s perceptions (Sundaram et al. , 1997) as they create a special attention to the environment around schools where children and younger are vulnerable to repeated exposures (Kelly et al., 2008).
Revenue is the most important in any business and restaurant industry face a challenge which is of sustaining their profitability. Kimes (2004) suggest that the elements that determine the potential of a restaurant’s revenue is the capacity directly related to the quality of service and configuration of tables. The customers’ satisfactions may be influenced by the effect that a particular restaurant gives back to him and their associate that perception to the type of restaurant (Noone et al. , 2007:233).
However, the time of increase or decrease of revenue depends on the customer’s disposable income that goes in parallel way with the restaurants owners’ policy. If the customers perceive the policy unfair they may be reluctant (Mc Guire and Kimes, 2006:123). Few studies have shown a great success of restaurants businesses in this recently years. METHODOLOGY METHODOLOGY RESEARCH DESIGN The research will involve the role play by the consumer’s disposable income on restaurants revenue through constructed and structured questionnaire that we would give to restaurant’s owners and educational institutional members to fill out the needed data.
The interview scheduled is comprised of two sections. 1 – Collection of information about consumers and their disposable income 2 – Accumulation of information regarding location and annual turnover of the business SAMPLING Our study will follow the multistage stratified method of sampling based on some criterion to select the person and restaurants to conduct the research. Educational institutions members will be divided into three groups: Students, Teachers and Administrators.
The next sampling group will be the schools proximities fast food restaurants owners. DATA COLLECTION TOOLS The primary data sources used to collect data are structured questionnaires that will be submitted to students and owners of fast food restaurants located to close proximity educational institution and educational institution’s members. Along with questionnaires, interviews also will be conducted. The secondary data will be collected through various publications, newspapers, websites and magazines. CONCLUSION CONCLUSION.
The research was conducted on variations of educational institutions close proximities restaurants’ revenues and these restaurants’ customers’ disposable income and their food habit. It was conducted in Bangalore city among restaurants owners and students, administrators of particular schools; therefore, it has been possible to collect data from a small sample keeping in mind limitations. The result has then been gathered through qualitative as well as quantitative data collections and analysis by questioning and interviewing restaurant’s owners and customers.
At the end of the study, it seems that the rise of fast food restaurants number in close proximity to educational institutions is a method to attract more targeted customers in order to make more profit. This is attractive method goes along with the consumers eating-out habit and conditioned by the main factor which is consumer’s disposable income. The restaurants then depend on the consumer’s disposable income. When this income is low customers eat less food or low price foods so they spend less money and the restaurants revenue is less a this period.
But in the case their income is much then customers eat much and revenue of the restaurants is high. The second factor is the school program. The restaurants owners should consider also the opening and closing program of the educational institutions near which they located their business. QUESTIONNAIRE QUESTIONNAIRE To the consumers Name You are? | | Male| | | Female| | How old are you? | | 15-20| | | 21-25| | | 26-35| | | 35 and above| | What is your occupation? | | School administrator| | | Teacher| | | Student| | Where do you live? | | On campus| | | Around campus| |.
| Within walking distance| | | Far from campus| | What is your meal plan per day? | | 2| | | 3| | | Above 3| | | No meal plan| | Do you often eat out? | | Yes| | | No| | How do you often eat out? | | Never| | | Occasionally| | | 1 to 2 days a week| | | More than 2 days a week| | | Daily| | How do you often prepare your own meals during school weeks? | | Never| | | Occasionally| | | All the time| | What kind of restaurant do you eat at during school time? | | Fast food| | | Casual dining| | | Casual food| | What is your monthly disposable income? | | Less than 15000| | | 15000-20000| |.
| 21000-35000| | | More than 35000| | What is the average amount of money you spend off campus every day? | | Rs. 20 – 50| | | Rs. 55 – 100| | | Above Rs. 100| | | I don’t spend money on campus| | INTERVIEWS INTERVIEWS With the students Interviewer: Hi, I am Bamba Adama, MBA student of Bangalore Management Academy; with your permission, I would like to conduct an interview with you for a business research purpose. The purpose of this interview is to look for different factors that affect your eating habit and you spend your disposable income according to your food habit.
Interviewer: Can you tell me a little something about yourself? Student Interviewer: Where do you live? Do you live with family or alone? Student Interviewer: What do you enjoy eating daily? Why? Student Interviewer: Do you cook the foods yourself? Student: Interviewer: What do you enjoy eating daily? Why? Student Interviewer: Do you use to you eat different food outside precisely in one of the restaurants around campus? Why / why not? Student Interviewer: Is there any other reasons like foods prices? Student:
Interviewer: How much around do you spend weekly by eating outside? Student Interviewer: Who provides you your income? I mean your pocket money? Student With Restaurant owner Interviewer: Hi, I am Bamba Adama, MBA student of Bangalore Management Academy; with your permission, I would like to conduct an interview with you for a business research purpose. The purpose of this interview is to look for different factors that affect your restaurant’s revenue according to your location. Interviewer: Can you tell me a little something about yourself and your business?
Restaurant Owner Interviewer: What types of food do you cook? Restaurant Owner Interviewer: Were you located somewhere before? Restaurant Owner Interviewer: What motivated you to build your business at this particular location? Restaurant Owner Interviewer: Who are your main customers? Restaurant Owner Interviewer: At what period of time you get more customers? Restaurant Owner Interviewer: What is your revenue before and after this particular period of time? Restaurant Owner Interviewer: What is your approximate daily revenue at these particular times? Restaurant Owner.
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