The chapter is responsible for explaining the business research approaches utilized within this thesis. This chapter is also aimed at describing data that has helped the researcher for determining the specific research method as well as in identifying the benefits and disadvantages for them. Each research has an aim to discover a solution to an issue by studying a subject in-depth. The purpose of this research lies in developing a concept for the business plan along with understanding the required steps needed prior to initiating a business.
As per Albert et al. (2009), there are three key areas of learning. First is the fact that data has to be collected through primary and secondary research aimed at answering the questions in the research. Secondly, literature review needs to be done with the help of secondary information sources. Thirdly, the analysis of data requires potential market evaluation and business feasibility exploration.
Within this research, primary and secondary data has been collected. Cost benefit analysis has allowed investigating through primary data collection and market research information has acted as secondary data. However, the primary means is secondary data collection. Collection of primary analysis and data was not a possibility as there were constraints of time involved. One more reason for this is that feasibility study has been done by the researcher.
Regarding data, secondary data collection has been utilized because of constraints of time. The research however contains analysis of primary data done by other researchers within the field. This can have various disadvantages. An example can be quoted here. The size of the sample utilized might not be large enough or the sample might not be inclusive of only individuals from a smaller domain and the data obtained is therefore of concern to some people from a specific region.