Quantitative Analysis
After careful research on the relevant information to support and validate the viability of the business, we found that the average age of residents in Perth CBD is 37. This is relevant to our business plan as our target age is 18 and over. This was used as proof for evidence that the target age for the Protein Bar business exists within the Perth CBD.
The pie chart below is an analysis on the occupation percentages in the Perth CBD. It shows that the main occupation is professionals at 33.9 percent. Assuming the professional has an average work day of eight hours with a one hour lunch break (City of Perth, 2012), this statistic becomes critical in the times the promotional campaign is launched.
The pie chart below is an analysis on the occupation percentages in the Perth CBD. It shows that the main occupation is professionals at 33.9 percent. Assuming the professional has an average work day of eight hours with a one hour lunch break (City of Perth, 2012), this statistic becomes critical in the times the promotional campaign is launched.
As IBISworld illustrates health consciousness is on the exponential rise throughout Australia (Half a percent from 2008-2011). This is relevant for our business plan as the core idea of our protein bar business is to capitalise on the growing health and food market. Moreoever, our statistics show the rate of health conscious people throughout Australia will grow over the next 12-18 months.
Statistics taken from IBISworld show that there is a positive relationship between the amount of money spent on sports and recreation, including health foods and the amount of sports sessions played week. This proves that there is a market for our business, and that people are willing to pay for our services. The importance of a positive relationship between the two is vital in our business plan as it addresses our target market. The statistics for, both, money spent on recreation and amount of sports sessions a week are both projected to be on the rise according to IBISworld. Our business can benefit from this projection as it shows that there is a future in our business. A link to the statistics used and calculated can be found below.
http://blackboard.ecu.edu.au/webapps/lobj-wiki-bb_bb60/wiki/BES1200.2012.2.METRO/_2477917_1/Task_5_QA
http://blackboard.ecu.edu.au/webapps/lobj-wiki-bb_bb60/wiki/BES1200.2012.2.METRO/_2477917_1/Task_5_QA