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Small Business Case Study
Pages 10 (2510 words)
When you start a new business you have to become an expert in a wide range of fields, a jack of all trades, because you can't afford to employ specialists. But, as you get bigger you have to hand over some of these responsibilities to real experts. By far the most important thing I've done is to develop a management team that can compensate for the shortcomings of the founder."
With the impetus given by the government on creating infrastructure, not only for the local population, but for the perceived needs of the tourists, I had a feeling the tourism industry would pick up in a great way in our region.
There have been fast food joints operating in our area for quite sometime, but these predominantly serve American food. There were one or two eateries serving local food, but the service was not upto the mark. The need of the hour was to open a restaurant which could cater to an international clientele , and yet allow them to experiment with the local cuisine, if they felt like. Yes, I had made up my mind to exploit this potential and open a budget restaurant,which could cater to the growing number of tourists, who wanted to have cuisines from all over the world and were willing to experiment the local flavours too.
Location plays a very important role in determining the success or failure of a business venture, especially a small business venture, like an eatery. The business and revenues would most certainly depend on the number of persons visiting this outlet. So, I had to make sure that it was in the heart of the city or such appropriate place , where tourists would flock for a good bargain. ...
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