Toasted Sandwiches - what sort of research should I do for my business plan?

Question

I know I need to do some research for my business plan for the bank but where do I do this research and who do I speak to and how do I do it? I've contacted several toasted sandwich van owners by email to ask them some questions but none have replied - what am I doing wrong?

Answer 1

Well if you are going to run a toasted sandwich van, you need to research your local market and a comparison market.

For example, I assume you chosen locations where there are no toasted sandwiches (you just need to prove it to the bank manager). But what about alternatives to the toasted sandwich. There may be a large range of competing products.

What about demand. I can find many places where there is no competition but also no market. Maybe just look at the other vendors, what sort of business are they doing (take a photograph to show huge queues of people buying from other places).

You can compare markets. Maybe in another location toasted sandwiches are doing well. How do you know. Go there, buy a toasted sandwich and a low peak time and ask "how is business?".

You can also work in these businesses and learn a bit about their trade. You can also just sit in front of their businesses and see how well they do. Make a count of how many people go an hour.

Make a comparison of the other businesses location to your own one. Number of businesses, park, school etc etc.

Basically you are demonstrating that you have really understand what you are doing.

Don't worry, the bank manager does this for a living and probably knows more about your type of business than you do. They will provide advice and help in the process of planning your business.

Answer 2

First of all, don't do that- they are your competition they are going to give you false info so you fail they don't want other people to take there ideas,I would ask people what they think start a survey ask what they would put on the toasty and always look for a place where people are in a hurry and want something good and quick, service is of virtue so always be fast that way they will remember- the guy who game them a toasty which was really good.Check out the competition in the are sit down just before lunch and actually study the people,ya it sounds creepy so don't make it obvious-look at where they are going and where they are going what time do they pitch up and what time do they all disappear.Good luck work of advice portable quick stops are cheaper and than an actual shop if you are tight with money. In vest in good products too.BE THE SERVICE PERSON NOT THE FAST FOOD JOINT.

Answer 3

Toasted Sandwiches on there own is a bit niche and most vans have a variety of toasted and non including other snacks and / or salads and drinks. on the question of how to the research depends on how much you want to spend either ask a marketing firm (costly) or go to the area of your potential customers and poll people with a quick questionnaire as they go to work this takes time, you should always ask permission from the business first and you'll only get around a 20% hit rate but it's solid and works. you could even poll the businesses themselves as to timings etc.


Finaly if you have to ask this kind of simple buissness question i also recommend you take an evening class in business studies. Or your buissness could be over before you start.

Answer 4

Nothing, I am not surprised you have not had any replies as you would be there competition so they are not likely to help you out are they?!?!

I would start with the basics - how much is the equipment to buy/ hire. Look under catering equipment on the Internet/ yellow pages.

From there look at your competition in the locality you business will be. Are there any obvious holes in the take away market that you could fill? Is the location of your business going to generate business from school kids? office works? shoppers? - what kind of sandwiches do they like. For example if your based near a school and 90% of your customers are teenages. They arnt going to want to eat posh fetachiin, basil, with dry cured beef and olives are they. More like cheese and brown sauce etc. Continuing this example your research would come from talking to school kids - what do they want?, what does the caffiteria offer that is simalar? and more importantley what are there prices? what can the kids afford. Take this example and apply to all kinds of seniarios.

Once you have your research estimate your costs (ingrediance, equipment hire etc) and your profits.

Good luck, feel hungry now hmmmmmm cheese and brown sauce mmmmmmmmmm

Answer 5

Look what other are doing dont necesarily have to ask them just stand outside watching, count the customers etc try to establish their average spend maybe mingle in the shop and lisern to how much people are being charged. the bank is interested in numbers not what fillings etc you use, you need only tell the bank how much you outgoings will be compared to the sales and profit you will attract. The bank wont give a toss if you are selling dogfood fillings inside two paving slabs as long as people are buying and the profit is healthy.

Also remember a business does not necessarily need to show millions in profit just aslong as it covers your business cost and personal survival budget anything else is bonus...

Answer 6

TOO right the van owners won't help. They are not going to help someone set up in their trade. Get out on the streets, ask the consumer what they would like. You could ask your questions on here, but do dread some of the ans you may get. Good luck.

Answer 7

Plenty of information on those website

Answer 8

they wont reply to you because you are possible competition, and they think why should they share their info with you, have you tried googling, good luck

Answer 9

can you research the companies on your own....