Market Research: New Fast Food Concept (COSTARGH'S BACK)

[Fyrefly]

All done ^_^

[costargh]

Thank-you everyone!

[Edmund]

Done

Didn't know costa was gone =/

[Glockmeister]

done.

[Collin Li]

 
    Done
     [I'm yet another incarnation of bubble ]


     there's been a real proliferation of lite bites/tapas style food in London recently
 
   

This reminds me.. there's been some sort of a cupcake bubble in Melbourne!

[doboman]

Done.

What are you thinking of doing Costa? Or would you like to keep it on the low-down for now?

[Glockmeister]

Done.

What are you thinking of doing Costa? Or would you like to keep it on the low-down for now?

I suspect I know what it is...

[doboman]

Done.

What are you thinking of doing Costa? Or would you like to keep it on the low-down for now?

I suspect I know what it is...

Well I've come to the conclusion that it's a fast-food related venture of some sort. That was easy enough to gather. But yeah, what exactly is it?

[periwinkle]

 
    Done
     [I'm yet another incarnation of bubble ]


     there's been a real proliferation of lite bites/tapas style food in London recently
 
   

This reminds me.. there's been some sort of a cupcake bubble in Melbourne!

   Mmm, here also. I've played a part in it

   
    There's this milkshake outlet near where I am, which seems like a good entrepreneurial idea, as they just blend milk+ice-cream+ chocolate bars, [which can't cost much] but are able to flog the shakes for £3-£4
 
     

[excal]

12-18 months away. Digital media will definitely be utilised to spread the word and to interact with customers at some point. And yes I will definetly let you know how it goes, or maybe you can tell me how it goes when you're trying our product

Interesting!

One tenet of efficient entrepreneurship is to fail fast, if at all (i.e.: test/validate a business model through practical means). Business plan writing and market research is all good and useful, but there's only so much that theoretical/lab results can show you.

If you ask 10 people "would you be interested in buying this product" and then you go to your car boot and bring them 10 of those products, the answers will have a huge disrepancy!

Yes I agree entirely. Although, when huge capital investment is what is at risk, theres always that rather indulgent pleasure to use the slow and steady, plan plan and plan approach. Because failure at that level = massive loss.

I believe that 'failing to plan is planning to fail'. Everything will come in good time. I realise that this survey in a lot of ways doesnt truely reflect reality (and therefore many of the responses I take with a pinch of salt), however it is interesting none the less and is just extra information. It is up to myself to interpret how relevant respondents answers are.

By the way, Best of luck with your venture Collin. I posted a question today

Planning is good, but planning often fails to plan for the eventuality that the time spent planning has meant the market that underpins the business case has changed against its favour which renders the whole plan null and void...

Unfortunately, it is sometimes about being first to market that gives that competitive advantage needed.

[costargh]

Update: The product manifested itself overnight due to a 12pm-2pm MSN conversation.
Also, potentially found a partner with a strong capital base. =D

Initial store location discission, somewhere in the city or a inner city area with high foot traffic close to a business disctrict.

That is all for now