Problem Definition: Khalid Mahmood Khan, an entrepreneur with a capital of $500,000, is looking to invest on a franchise in Markham. After considering various franchise options, he has made the strategic decision of opening a Pita Pit as he has a passion for healthy products and the franchise has done very well in North America over the past few years. As a Markham resident, he has noticed that there aren’t Pita Pits close by and he wants to keep his business close to his home. With leading music store Long & McQuade Markham fairly set on closing a section of their store on 9833 Highway 48, he has found a decent plot that we could rent to open his business.
Khalid requires a spatial analysis in order to justify this investment. As his …show more content…
With the fast developing condos near this area, the population has rapidly increased in the past three years, leading to increased traffic and demand of various types of products. Due to the increased population and the increase in sales of restaurants, various new types of restaurants have opened and the prices of the buildings have gone up. From a industry specific perspective, Pita Pit has a large scale of competition within this area. However, most of the fast food restaurants around these area, including Pizza Pizza, McDonald’s, Tim Hortons, Wild Wings and Popeyes, aren’t known for their healthy choices. Since Pita Pit actively encourages a healthier lifestyle, this element provides Pita Pit with a competitive edge over other fast food restaurants, provided that they can develop an appealing branding scheme. The location of Iron Fitness in the same building also ensures that there is an inflow of people who are actively striving for good health and …show more content…
I also honed a greater value of spatial data analysis in making business decisions. This has proved to me again that Geography is the intersection of all subjects and I have gathered many strategies that I can implement to my own startup ventures. I have also developed a value for demographic data and its use in formulating a branding plan for a business.
The analysis segment allowed me to think critically. Without the technical prowess to use ArcGIS, I had to make some early morning phone calls to ensure that my judgements were right and to consult some of the experts I know in real estate. This allowed me to connect various subjects together to create value in entrepreneurship and to draw intelligent conclusions in analyzing various elements of data. Having been given the job to make a decision, I also learned to weigh different factors differently and think of a solution that can help turn the con into a positive to create some value for the business if the location is selected. On the whole, I was encouraged to problem-solve, make decisions, analyze and organize various forms of data- skills that I can directly apply in my studies at Ivey Business
Khalid requires a spatial analysis in order to justify this investment. As his …show more content…
With the fast developing condos near this area, the population has rapidly increased in the past three years, leading to increased traffic and demand of various types of products. Due to the increased population and the increase in sales of restaurants, various new types of restaurants have opened and the prices of the buildings have gone up. From a industry specific perspective, Pita Pit has a large scale of competition within this area. However, most of the fast food restaurants around these area, including Pizza Pizza, McDonald’s, Tim Hortons, Wild Wings and Popeyes, aren’t known for their healthy choices. Since Pita Pit actively encourages a healthier lifestyle, this element provides Pita Pit with a competitive edge over other fast food restaurants, provided that they can develop an appealing branding scheme. The location of Iron Fitness in the same building also ensures that there is an inflow of people who are actively striving for good health and …show more content…
I also honed a greater value of spatial data analysis in making business decisions. This has proved to me again that Geography is the intersection of all subjects and I have gathered many strategies that I can implement to my own startup ventures. I have also developed a value for demographic data and its use in formulating a branding plan for a business.
The analysis segment allowed me to think critically. Without the technical prowess to use ArcGIS, I had to make some early morning phone calls to ensure that my judgements were right and to consult some of the experts I know in real estate. This allowed me to connect various subjects together to create value in entrepreneurship and to draw intelligent conclusions in analyzing various elements of data. Having been given the job to make a decision, I also learned to weigh different factors differently and think of a solution that can help turn the con into a positive to create some value for the business if the location is selected. On the whole, I was encouraged to problem-solve, make decisions, analyze and organize various forms of data- skills that I can directly apply in my studies at Ivey Business