how can i work out how many people might buy a coffee or a sandwich from a new deli i want to set up?

Question

I know all about how much it will cost to run the shop the one thing I have no idea about working out is the number of people who might buy from it. I cant afford a market research company so what should I do? the location is in a popular marina and restaurant location so it would be surrounded by great places to eat and a few cool places to shop but it has a wealthy leisure boating community all around.

Answer 1

Market Research -

Questionnaires, send them about the local area, and see what is returned, try not to send them in post coz no one will return them, or ask people on the street, they can't refuse, well not all of em!

Answer 2

Do the questionnaires yourself locally - try and do it on a day where you will see the typical passing trade - are you aiming particularly at boaters, residents, tourists or local workers? If it were me I would stand and do it perhaps 3 days in the working week, and then at the weekend (both days) to see who is there and how busy it might be.
Check out also: are there any other coffee shops around - are you definitely going to offer something that they don't? How busy are the restaurants or other coffee shops at these times? These are all things you would need to consider. Put together a little report with all these things clearly written down so if later you ever need loans from a bank etc you have your market research done.
And then when you are set up let us know and we can come and visit you!
Good luck, great idea. I've had to work at setting up a business before in a new location and had to do lots of market research myself so if you need any more advice let me know.

Answer 3

Your products are enjoyed by most people. Demographically, young, old, black, white, male and female all enjoy those things.
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So you have to ask: "What is the market for these things?" or "How many dollars are spent on these things?"
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Look at competition. This will be a good indicator on what the market is. If there is little or no competition, then you have to consider the fact that there may not be a market for it in the area. Lot's of competition means there is a demand.
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How many companies sell "similar" products?
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If there is a similar company, you should open yours close to theirs. Competition is more benificail to business than harmful.
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You are selling things that people want, based on the needs "hunger and thirst.". So you can be certain that people will spend money on your products!
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email me if you want to discuss this further.

Answer 4

Do the survey yourself. Visit the site where you intend to set-up your deli at different time of the day and week. You will be able to see a pattern/trend on people that goes there and the outlets they patronized. Once you have the numbers, you will need to do some realistic calculation on how many of these people would actually come-by your deli for a cuppa/sandwich. I would say give it 20% (+/-) is realistic until you've established your brand.

Answer 5

Spend two days on market research. One day asessing how many people use the other surounding facilities and roughly what they are buying (big difference between one customer buying a coffee, and group buying lunch). Try asking them as well.

Then do a questionnaire and count the footfall around your area. Also check surounding area, are their catchments you could offer too - schools (think coffee morns for mums!), colleges (student lunches), workplaces/business parks. Doing that will give you a rough guide. Good Luck

Answer 6

Check with other businesses within the area, and ask them about how much traffic they get in one day.

Answer 7

set up a questionnaire and send it locally!

good luck with everything! x

Answer 8

u can't foresee it. that's why lots of places go out of business very soon after opening