The new idea business restaurant Essay Example | Topics and Well Written Essays - 1000 words

The smart idea business restaurant - Essay sampleI found an appropriate puzzlee last month and lease negotiations are set to be complete before this month ends. I chose Crockett Street because there is a large population of the fair game market. After signing the lease, I will raise the start up funds required for device. Apparently, the construction period will take approximately two months. After completion of this phase, Vegas restaurant will hold and start serving consumers with nutritious victuals. However, if the restaurant meets its projections within nine months of operation, we will scout for a nonher positioning and establish plans for setting up another restaurant. Apparently, our four-year death is having three restaurants within Texas with a joint p.a. profit of between $ 600,000 and $1,000,000. Market Analysis According to Ariss (2010), the restaurant application faces increased competition only life genius alterations resulting from contemporary living cont inue to propel growth in the industry. Baruch (2004) affirms that that several people devour minimal time and resources to prepare a meal on their own. Vegas restaurant will perform remedy because it is likely to offer healthier foods at affordable prices. The industry happens is the third leading industry in America. Additionally, it accounts for approximately $ 250 billion yearly in sales. However, individual restaurants contribute to fifteen percent of this total. Bevitt (2008) affirms that an average American uses fifteen percent of income on meals out-of-door from their residence. More over, this number is increasing over the last 7, and four years. This industry has outperformed the GNP by approximately forty percent. Over six hundred restaurants open monthly and over three hundred required in offsetting the increasing demand for fast foods. A report released by National Restaurant Association revealed that as contemporary lifestyle creates demand, it would force individual s to consume more meals away from their residence (Halverson & Tirmizi, 2008). Consequently, Vegas restaurant focuses on attracting several consumers leading to higher profits. Products Vegas restaurant will offer food and beverages with a unique image. It will incorporate two ways of purchasing products namely table dish up and take away. The Vegas menu offers a variety of ethnic foods that are nutritious. As earlier stated, the prime goal is to develop an image of light, satisfying and good for you(p) foods. This is attributable to increased awareness on consuming healthy and nutritious foods. Food production will occur at the restaurants kitchen using clean-living vegetables and dairy products. However, the chef will conduct strict sanitation standards, quality production, and packaging. As they purchase food, customers may sit on one of the sixty seats at the dining room that will allow waiters to visualize to them. A separate counter will service clients, who opt to consume food away from the restaurant. competition An average of twenty restaurants within Crockett Street sells food at equivalent prices. Although this situation creates a invite challenge regarding market share, it also indicate the existence of a strong potential to obtain customers. The new competitors have made a successful entry into this restaurant industry based on novelty. However, this should not restrict Vegas Restaurant from venturing into the industry because it will present an inventive product using an equivalent style at a