Dave and Buster's Potential Success of New Business
Not what you're looking for?
How can we evaluate the potential success of a new business? If Dave and Buster's is not as desired as we expect what could be another business possibility? If Dave and Buster's does not fit the IUP community, what company would not have the same problems?"
Purchase this Solution
Solution Summary
Dave and Buster's is discussed very comprehensively in this explanation. The business possibilities are given.
Solution Preview
How can we evaluate the potential success of a new business?
The potential success of a new business can be evaluated by the reception the new business gets from its target audience. For example, in case of Dave and Buster's if a restaurant is opened at a new location, the number of persons in the area who represent the target audience of Dave and Buster's will determine the potential success or otherwise of the new restaurant. Dave and Buster's is targeted at adults. The existence of adults in the neighborhood who are interested in spending an evening dining at Dave and Buster's and playing games like "The 19th Hole", Iwerks, Simulator games, Virtual world, and Galaxian Theater. Currently, the reputation of Dave and Buster's is such that everyone knows exactly what type of food and games to expect. The opening of a new restaurant is preceded by publicity, and advertising.
Formally, the evaluation of the potential success or otherwise of a new business is done by carrying out a market research in the area where the business will be located. The potential demand will be estimated using market research. The direct costs and overheads in that area will be added up; the cost of supply will be found. An important part of the exercise is the estimation of the cost of labor in that area. Finally, the profitability or otherwise of the business will be calculated. This will give an accurate idea about the potential of the ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
Recent Feedback
- "I read your comments, and thank you for this feedback. Do I need to find other studies that applied this methodology Ive used? That's where I'm stuck at."
- "Thank you kindly sir. "
- "Excellent and well explained. --Thank you kindly. "
- "Awesome notes. I appreciate you."
- "I have the follow-up project and I will assign that to you very soon. "
Purchase this Solution
Free BrainMass Quizzes
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Operations Management
This quiz tests a student's knowledge about Operations Management
Lean your Process
This quiz will help you understand the basic concepts of Lean.