There is little doubt that the restaurant business is highly profitable though it has to face a lot of challenges. But there lies an opportunity in the global market and with proper business plans, it can lead to success. The mission, vision, and objectives should be clearly stated and communicated for success. The marketing mix plays an important role in this industry. The location with the high quality of products and services at a competitive price with lots of promotional activity and involvement of professionals with strategic planning will lead to success. The market needs to be properly segmented and the right consumer segment has to be targeted that will generate sales.
There are many competitors in the business and with the help of SWOT analysis, it will provide a brief understanding of the market environment. As per the findings, the strategy is required to be made to compete and grow in the international market. The pricing strategy and the high quality of cuisine and service are the main tools in the restaurant business. The focus should be upon this to gain maximum advantage from the market.
An appropriate corporate structure with the chain of command will enhance the operations of the business and facilitate the management in the right direction. The foodservice industry is one of the largest industries across the globe. In the past few years, the restaurant industry has out-performed almost all other business segments and has been increasing and developing. The main objective of the company is to develop an enhanced experience in the foodservice to delight the consumers with a high level of expectation. The other objective is to establish its brand all over the world so people from all parts of the world can enjoy the cuisine that delivers a high level of satisfaction.
The company targets to fulfill the gap of expectation of the consumers and grow as an international brand.
Ala Carte Menu, “Price List”. “Home”. http://www.micawbertavern.com.au/food/28-ala-carte-menu
UNC, No Date. “Organizational Structure of the Restaurant”. “Frank Hawkins Kenan Institute of Private Enterprise”. http://glori.kenan-flagler.unc.edu/airspace/NUSarchive/rice/wongpl/1_5orgst.htm