Introduction
The business idea for opening a multi-cultural restaurant catering clients across the community is turned into an opportunity for establishing an entrepreneurial venture. The extensive research and development process as well as market research is conducted to address the issue of providing a localized taste for international cuisine in fine dining restaurant settings (Long, 2013). The food, ambiance, service, and authentic of taste are major elements of focus while developing the plan for seizing business opportunity adhering to a unique restaurant idea. The below sections provide a detailed overview, management, marketing, and financial segments of the proposed project.
OVERVIEW
Business idea:
The Round Globe restaurant is focused to offer fine dining and relaxed atmosphere for customers offering authentic ethic dishes in menu which are carefully selected from different cuisines. As the name suggests, the restaurant will be serving food selected from authentic cuisines around the world. Fusion will also be carried out to some of the dishes in order to maintain localized taste for menu dishes. The business idea is also based on a notion that increased travelling, immigration, and cross border trading in globalized economies has created opportunities to cater local market consumers with authentic and fusion recipes (Jang, Liu, & Namkung, 2011). It will also help the business provide customers with a localized taste and feel of food.
Business type:
The Round Globe restaurant is a new business venture based on a creative idea of offering multi-cultural cuisines under one roof. The authenticity and fusion of the cuisines is primary focus of the business. The business is opened with a vision to provide a cultural eleme...
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...le payment for the loan is made $9,000 while owner has drawn almost $45,000 during the year. The business is attaining breakeven in the sixth month of its operations. (Please see Annex II for details).
Conclusion
The business opportunity of setting up an entrepreneurial restaurant venture with multicultural dishes menu is defined in the sections above. The overview of business provides an overall understanding of the project concept and its salient features. The management sections are focused on key team members, their roles, and responsibilities for the restaurant operations. The marketing sections are focused on strategy for business expansion and growth. The financial projections allow identifying total project cost and its viability. It is significantly observed that the business opportunity can enable the entrepreneur to efficiently operate and attain growth.
Fanny Fern once said, “The way to a man’s heart is through his stomach” (Fern 1). This not only holds true for men, it surly can be said about anyone. A restaurant that can capture anyone’s heart is Carrabba’s Italian Grill. What makes it different from all the other Italian restaurants? That would be the authentic taste and experience the restaurant provides its customers with. Whether diners choose to go out to celebrate or gather the family for a delicious meal, there is one place that they will certainly enjoy having it at, Carrabba’s Italian Grill. This holds true because as a long-time customer, I’ve experienced Carrabba’s for different occasions from anniversaries, graduations to birthday parties
The Santa Fe Grill is a relatively new Mexican restaurant that was started by two former business students from the University of Nebraska, Lincoln. The idea sparked after the two roommates who were both interested in pursuing entrepreneurial interests decided that a Mexican restaurant in their city would be highly successful. While taking an entrepreneur class at the University, the plan for the business began coming together. Their main focus was to create a restaurant that would feature the freshest ingredients, as well as a lively atmosphere, cutting edge advertising and marketing, plus exceptional service for customers. (Research Methods, Pg. 19) By doing so, the students hoped that they could fulfill their dreams of ownership.
When different kinds of menu for lunch and dinner are included, there is an opportunity for attraction of more clients in the new outlet
Steve Kafka, an American of Czech origin and a franchisor for Chicago Style Pizza, has decided to expand his business into the Czech Republic. He knows it is a risky decision; when he became a franchisor, he had to overcome a lot of difficulties. Steve anticipates he will face some of these difficulties again at the new location in Prague, Czech Republic. Although he was born in the United States, he has family and friends in the Czech Republic, speaks Czech fluently, and has visited the country of his origin several times. He knows the people and the culture. In this paper, I will analyze the cross-cultural differences between the United States and Czech Republic, determine comparative advantages in this country, and recommend ways to minimize the risks of establishing a franchise overseas.
In conclusion, a proactive and dynamic approach is needed for Cook Out restaurant’s success. This training program proposal evaluates the vision and objectives of the restaurant and the potential to attain a superior restaurant service. With recommended objectives and new vision, the training program proposal can enable Cook Out restaurant reach full market potential.
KFC is one of the most popular fast-food restaurant chains by the Yum! Brands and fried chicken is what the company specializes. KFC was founded by Harland Sanders, which was later known as Colonel Sanders. Moreover, KFC was one of the first fast-food restaurant chains to expand internationally, including the opening outlets in Beijing, China, in November 1987 (KFC Website, 2013). The fact that KFC was the first Western fast food company in China makes it very challenging to satisfy the Chinese market. Trying to sell the same products or services is a typical approach to most foreign expansion for franchise businesses (Bell, 2011). However, one-size fits all approach is not what KFC chooses to apply for their company. According to Shelman, the writer of the case study regarding KFC’s Explosive Growth in China, key success for KFC China is to change the menu to suit Chinese tastes and style of eating (Starvish, 2011). “One of the lessons I take away from this case is that to ...
From a food and beverage manager's perspective - What are the important characteristics and procedures of a food and beverage establishment in relation to its size, type, market, design, planning and organization?
Innovation is an important aspect of business today. It is important for companies to be innovative in order to stay competitive with their competitors. Innovation can come in different forms depends on the company’s objective. KFC, one of the most popular fast-food restaurants by the Yum! Brands, chooses to be innovative for their business model. Although, there is a huge amount of fast food chain available in the global market, KFC found the key to stand out from the intense competitive environment. By expanding the business to China, KFC learned unprecedented success by being different, not by being the same. The company’s business model is all about adapting to the local culture and understanding the needs of the Chinese market. Three main innovative strategies of KFC in China are localizing the menu, understanding the Chinese culture, and hiring local management.
It will provide entrepreneurs with a competitive edge that will prove invaluable in helping them seek the opportunity in this unexplored area of business. Through this research project one can study the opportunities and potential for Fast Food Restaurant Services in India. Since not too much of research is carried on in this area in India, there is a huge scope for this market and it could be useful for any budding entrepreneur who is interested in this industry.
An evaluation of the restaurant’s strengths, weaknesses, opportunities and threats served as the foundation for this marketing plan. The plan focuses on the restaurants marketing strategy, suggesting ways in which it can build on new customer relationships, and development of new food products and targeted to specific customer groups.
Malaysia is well-known as a food paradise with a vibrant and diverse food type. Malaysian cuisine is one of the reasons that tourists travel to Malaysia. (Tourism Malaysia cited in Zakariah et al, 2012). Today, the restaurant industry in Malaysia is growing and has a sizeable market in the industry. As the restaurant industry continues expand, the customer will have more choices to choose the dining restaurant. Therefore, maintaining the customer satisfaction through the better service quality is very important to prevent customer go to another restaurant (Seyanont, 2007 cited in Kristanti, 2012)
The first step in any business is to think of or create a business idea. Without an idea, one cannot launch their business off the ground. A right direction is needed to create a business with a unique idea. However, other options include franchising or buying an existing business (1). Franchising allows an individual to run stores such as Burger King or McDonalds under the corporate name. It involves taking training classes and a heap of money in order to start a franchise. A Franchisee will have to buy products and services from the corporate entity they are franchising from, which is often required. Buying a franchise is like taking a piece of the pie from the company that is franchising and sharing that pie with everybody else. In addition having a franchise allows one to communicate and in essence become a big part of an added business opportunity (4). Franchising is far from easy to start and maintain for that matter. Starting a franchise involves a l...
As the marketing consultant for a hospitality management company, it is often my responsibility to define target markets for various restaurants and hotels. In fact, I have been tasked with creating a fictional hospitality operation, to utilize as an illustration to define a marketing strategy and target market. In addition, I must identify and analyze the product life cycle of an organization that has been in business for a minimum of twenty-five years.
There is a larger number and types of entrants in the market Fine Dining Restaurants-Casual Dining Restaurants-Quick- Service Restaurants. Landscape of primary location is also a threat; there is a lack of customer parking which could possibly result in lower numbers of customers. Climate may also affect the businesses in general, low peak season and bad weather can cause problems for the business market if bad weather is expected, customers are more reluctant to go outside if not necessary. Potential entrants and encroaching concepts are also a concern due to factors such as low consumer switching and brand not being well known. Cost is also a threat although the primary target market is higher-wage earners consumers with less income will not frequent Rooms for Dessert they will seek substitute
The Italian restaurant has had long term success due to the owner’s, Andy Garagallo, high level of confidence. He believes if he meets the customers’ food and relationship needs, they will come back again and again. His approach is working as the restaurant annually nets 30% profit as compared to the industry standard of 5-7%. Andy success comes from confidence, putting the customers first, being flexible, and consistency.