query re a business opp

overthenest

hi folks,

just wanted to find out something, just as a matter of interest really. I was in a town on and off for the past couple of weeks and i spotted something that intrigued me. i have no experience in this industry but i thought it looked like an opportunity. in this area there is a vacant retail unit right next door to a chinese takeaway, beside that a busy pub, there is decent parking right outside the door, there is a mcdonalds and a pizza place on the road adjacent to the vacant retail unit which is slightly out of the way from where the pub is. i just thought to myself this would be an excellent location for a traditional take away, it would give people a choice from the chinese and would be in a more convenient location to the pub than where the mcdonalds is, the retail unit is completely empty i think it was a grocery shop or something. now as i say i have completely no experience in this industry, but i was just thinking it would be a good business venture, as a matter of interest, just say someone decided yea thats a good idea and they want to run with it, how would they go about it, i would imagine it would cost a lot to kit it out and pay wages, anyone any feedback on this? this is probably not for me as i mention but it looks like a great opportunity for someone

dozy doctor

The number one rule before doping anything is to do research.... You need to test and measure the results....
Where is this location, a small town, city, suburb etc..... What is the passing traffic like, what is the population like in the immediate locality, are they young or old. Even get out there with a questionnaire and find out what people want.... Never open something on a whim, even franchises fail and never mind the initial setup cost of opening something like a chippy, then rent, rates etc...... Do your homework..... and best of luck....

overthenest

hey, thanks a million for your reply, just a quick one, just say for arguments sake i done the research etc and felt it was a good idea to run with, how would i go about it? would i need to apply for a business loan first, how would i do up a business plan? what are the steps required for someone who spots an opportunity and wants to run with it? thanks

dozy doctor

unfortunately in my opinion the banks aren't lending for business loans unless you have some major assets to back up your project....
Your business plan should need to comprise of many elements but number and i just did a quick google search and Dublin City Enterpise Board have this online http://www.dceb.ie/Knowledge-Centre/General-Business-Issues/Writing-a-Business-Plan which is fairly informative.....

You just need to be careful, as what you think may be a great idea, might not be appreciated by everyone else..... Test and measure everything you do.....

onedmc

Dont forget for a takeaway you need permission from the council, you need to talk to them.

overthenest

thanks guys