Eateries and Food Business - Essay Example

Juices will be served but this will also be squeezed in front of the customer and fulfill our health proposition. The total estimated cost of setting up the restaurant is estimated to be $70, 000.

The Five P’s of the business

The entire dynamics of a business revolves around its five, which define future strategies and offerings proposed by the business. In our case, the five P’s will be:

Product

The selection of the products served by us is justified by many reasons. First and foremost is the inclusion of chicken in the eating menu of most people. This will give us an instant head-start because chicken preparations are liked by almost every single person. Secondly, from a health and nutrition point of view, juices will also attract people. In a nutshell, chicken and juice will serve as a short-meal combination that can satisfy short-span hunger and can be eaten before proper meals.

Price

Initially, prices will be set lower to attract customers and develop confidence in them our food and service quality at reasonable prices. It will also be set keeping in mind what other restaurants serving the same item are charging for it. But we will fix the rate at slightly low.

Place

The place selected for the business is Downtown San Francisco where tourists come from all over the world and the place welcomes people from diverse cultures. Because chicken is an item liked by almost all cultures and traditions, this place offers the most advantageous position to locate our business.

Promotion

Promotion strategies of our business will include radio announcements, pamphlet distribution, hoardings, newspaper advertisements, and word-of-mouth publicity. Initially, discounts will be provided on family orders and inviting friends. We will also try to gain contracts at major shops and tourist destinations for serving our juices there. Later on, when the business catches up, loyalty cards and rewards will be given to regular customers to retain them and get positive feedback and publicity.

People

Our primary target market will be tourists who try each and every item selling at the place they visit. Tourists in general also like to eat a lot and we can encash this opportunity well because our location is strategically woven around this idea.

Secondly, local citizens, guides and employees of tourist destinations, other shops and companies, and people who are working in the vicinity also keep on searching for some good eating items which are not only tasty but healthy and hygienic also. At this point, our barbeque chicken will serve as a change in the regular eating menu of these local people and they can also have juices in case they are feeling thirsty only.

SWOT analysis of the business

To analyze the internal strengths and external threats which can impact our business, we have conducted a SWOT (strengths, weaknesses, opportunities, threats) analysis which goes as follows:

Strengths

• Major focus on health and hygiene factor
• The strategic location of the restaurant with a large number of tourists and visitors.
• Selection of chicken as a main serving item which is eaten by people from all cultures and traditions.

Weaknesses

• Success in this business depends upon tasty preparations and thus finding good cooks can be difficult.
• Cooking in front of customers will require a considerable setup cost.

Opportunities

• Chances of immediate turnover and a good start because of the liking of people for chicken preparations.
• As the business succeeds, more chicken items can be added to the menu which will increase sales and turnover.

Threats

• Chicken items are very common and our business will face stiff competition from other restaurants.
• With prices of fruits and cooking materials rising high, sustaining on reasonable price proposition will be an uphill task.

Recommendations and conclusion

The future prospects of this business seem fruitful and lucrative because of being in the food industry which always remains in demand and secondly keeping non-vegetarian items as major products which are included in the eating habits of all people. Inflations in food prices can sometimes pose threats to our functioning and low-rate philosophy, but we aim to attract and retain customers on the basis of our quality cooked food, hygienic preparations, and customer service.

Proceeding on our health consciousness and nutritional propositions, we also aim to include vegetarian items later in our menu which are considered good from a health point of view and will compensate for the demand for chickens for vegetarian people. We also recommend starting the home delivery option once we reach a pre-defined turnover rate.