Competitive Edge The customer experience is extremely important as an effective way of distinguishing Kona-Q. Having such a good experience will encourage repeat business. Management Kevin Anderson has spent seven years in the restaurant industry. Kevin received a dual major of accounting and entrepreneurship from Lewis and Clark College. Net profit will be 9.
This will be accomplished by offering an unprecedented experience coupled with great food and reasonable prices. Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document.
Download for free. Kona-Q Executive Summary executive summary is a brief introduction to your business plan. The meat will be outsourced daily from local suppliers and will be fried; this reduces the cooking expenses of the store. With more than 30 different sorts of vegetables and 15 types of toppings, ChopChop has enlarged its service portfolio.
The customers will be allowed to select each of the ingredients of their salads, wraps or health drinks which will be processed by the store executives and served to the customers. The primary concerns regarding eco-system sustainability are to manage the drainage and wastage disposal, along with the water management process. The storage of the food items will be maintained with highly efficient cooling systems, and the service staff will handle all the things while warning gloves and headbands.
All the elements will be served on disposal plates which can be recycled and reused. This will further reduce water usage and help in increasing the environmental sustainability of ChopChop. In the words of , stakeholder relationship and management form the framework for the service structure and organizational activities of a business.
It is essential to identify the stakeholders of a company to develop the corporate objectives fruitfully. On the other hand, Farrell mentioned that the positioning of the stakeholders helps an organization in effectively designing their service structure. In the case of ChopChop, the stakeholder mapping and analysis models will be used for improving the service structure of the company. The analysis of stakeholders will be performed per the four quadrants given in the above model.
Based on the criteria given, the mapping of the stakeholders will be shown. The stakeholders for ChopChop as per the target market will be customers, regulatory authorities, promotional firms, suppliers, competitors, employees, store manager and the managerial body of the business. Source: Created by Author. The position of the stakeholders in the given matrix highlights the focus of ChopChop for handling all the stakeholder needs and expectations.
Customers, employees and suppliers the primary stakeholders based on whom the service efficiency and business growth can be assessed. The store manager and the managerial body of the business have the highest interest and power and thus needs to be kept informed. In contrast, the regulatory authorities and the competitors will be monitored closely for assessing the changes in the market trends and the regulatory processes.
The present scenario of the Qatari food and beverage industry presents suitable condition for ChopChop mainly because of the increasing global engagement of the country and the culturally diverse national population. It was observed that Qatar is expected to host numerous global events in the coming years, which is expected to boost the economic as well as social development of the Qatari population.
Multinational fast-food chains are presently dominating the food and beverage industry of Qatar with the support of local suppliers. However, the growing health consciousness among the local population has generated a tendency to go for organic food items such as salads, health juices, etc. Apart from this, the fact that the majority of the national population consists of expatriates from other countries, there exists a broad range of variety in the food selection and preferences of the people.
Based on the factors mentioned above, the core product base of ChopChop salads and juices is flexible. ChopChop has designed an elaborate service development strategy with over 30 types of vegetables and 15 dressings to be stored at any given moment. This will provide variety and choice for the customers to design their salads and wraps. ChopChop has refrained from selling cooked food and in the process have reduced their cost of operations.
The meat sold will be outsourced directly in a roasted manner which can be heated and served to the customers as per their likings. Existing competition in the market from local retailers as well as multinational food and beverage firms. Farrell defined gap analysis as the assessment of the actual performance of a company with its desired performance. The aim of performing a gap analysis is to ensure that a firm is utilizing its resources to their optimal level to reduce the cost of business and increase the value of the business outcome.
The framework for performing a gap analysis is based on standard performance as per the industry criteria Farrell, Farrell further stated that gap analysis could be performed in several directions such as business performance, human resource or any other functional departments of a company relevant to the business process of a firm.
The economic analysis of ChopChop will mainly present the information associated with the business development process and the associated service structure of the company. The method of setting up the basic layout of the company will be analyzed and implemented in this section concerning the market and customer information evaluated in the previous segments of the plan. The service structure of ChopChop is based on its product nature. The store will remain open from 9. ChopChop is more of a salad and juice store rather than a restaurant.
All the items to be sold in the store are fresh and uncooked, except the meat and shrimp which will be used for wraps. The store will keep all the food in clean containers covered with glass so that customers can view and select the ingredients to be put in their salad as per their likings.
ChopChop will provide eat on the spot, takeaway and online order delivery systems. The customers can view and order their salad online by checking the available items that will be updated on the company website regularly.
There will be four employees overall in the store except for the store manager. Two employees will serve the takeaway customers and in-store customers while the other two will be responsible for online order delivery. The store manager will monitor the activities of the employees, handle the cash counter and also book the online orders.
The store manager will also be responsible for updating the company website as per the availability of the food items. The offering schedule includes the facilities provided by the store to its customers. The in-store facilities of ChopChop will mainly focus on customizing the orders under the needs of the customers. ChopChop will also keep the provision for unique add-ons in the salads to increase customer attraction. Customers ordering online will be given particular loyalty points on orders above QR14 Qatari Riyal.
Apart from these special discounts during events and occasions will be given for boosting the sales of the stores. ChopChop also has planned to initiate environment-friendly campaigns with their customers where the customers will be provided tickets to sports events on completion on environmental activities such as donating to NGOs or planting trees as designed by the management of the store. The offers and discount plans for ChopChop will also be designed in a customized way.
Customers purchasing from the store over a certain amount, such as QR28 will be allowed to pick any other salad within QR5. This will help in pushing off the existing inventory of the store. Furthermore, to reduce wastage, the company can also launch exclusive offers during the closing hours of the store. The intellectual properties of an organization highlight the authenticity of the company in their respective markets and help the firm in gaining customer acceptance.
The intellectual property of ChopChop is its logo, tagline and the brand kiosk. The brand kiosk and logo will be framed within the same design, whereas the slogan will directly highlight the service structure of the store. The store kiosk will represent the brand logo as well as the tagline, both of which will be the primary intellectual properties of the company. Apart from this, the website and online domain of ChopChop will also be included in the intellectual properties of the company.
Based on the success of the store and their dishes, ChopChop can also copyright some of their most preferred dishes. These will be the first elements of intellectual property for ChopChop. Operating in foreign markets require exhaustive market information and networks to align the service structure of a firm with the market nature. This brings in the aspect of creating business relationships with domestic stakeholders and hence improves the conditions for business operations.
In the case of ChopChop, the firm will not indulge in any type of direct partnerships. Still, it will create business relationships to successfully implement their strategy in the target market and the development of the desired platform for their service structure. Suppliers will be the primary parties for forming business relationships and will be performed via contracts. Apart from them, ChopChop will also create business relationships with advertising and promotional groups to develop the brand image and brand equity of the company.
The strategic partnerships of a company reflect the relationships that help the company in achieving its long-term visions and goals. Strategic partnerships take place mainly between the internal and the external stakeholders of a company. The strategic alliances to be designed for ChopChop will be based upon their strategic objectives and the requirement of the company for generating foreign aid.
The performance of ChopChop in the Qatari market mainly depends on its ability to derive and serve the best food in the market in terms of price and quality. This requires the firm to ascertain its supplier network and its contribution to organizational growth and development.
A thorough analysis of supplier standards and their service policies will help ChopChop in deciding upon the most suitable suppliers for the company. Another strategic partnership essential for ChopChop will be with their promotional and marketing team that will also be designated to a local marketing firm. Brand development is a critical task while operating in a new and unknown market. Although Qatar presents an untapped market for taking and also hints towards the upcoming transformations in the industry, ChopChop needs to generate customer awareness and position the brand accordingly for ensuring complete transactions.
Thus, the marketing team and the supplier network will be the primary strategic partnerships for ChopChop. The operational partnerships have been termed by Farrell as the relationships between the fictional departments of a company and can also be attached to external parties supporting business growth. The performance of the operational processes of a company ensures that strategic planning is being implemented to satisfy the strategic objectives of the firm. The role of the operational partners is to help a firm in adapting to the changes in the functions of the business and also improve its performance gradually along with the modifications in market and business structure.
For ChopChop, the operational partnerships of the company will be among the internal stakeholders only. Employees will be the primary operational partners, along with the store manager. The code of conduct and letter of employment will be the significant contracts enforcing the operational partnerships with the concerned groups of stakeholders.
Sales analysis for a budding business highlights the target desired by the company to achieve. These potential sales can be made from the market and the actual transactions taking place in the market. The following section of the business plan will analyze the sales plan and other associated variables with the sales process of ChopChop. The sales plan for ChopChop will be performed in three different segments, namely, in-store sales, takeaway and online orders. The in-store purchases will include all the auctions where the consumers are placing the order within the store and consuming it there, in case of takeaway the orders will be placed within the store or by phone but will be consumed outside the store.
Finally, in case of online delivery, the rules can be set from anywhere within a radius of 10kms around the store of ChopChop. During the initial stages of business operations, the in-store and takeaway sales will be the prime focus of ChopChop. However, the cost of sales for both these aspects will be higher in comparison to the cost of online transactions. Furthermore, location, pricing, brand awareness and engagement can also contribute towards increasing sales. Pricing of the dishes will be one of the most critical factors signifying the sales ability of ChopChop.
The price for each type of salad will differ based on the ingredients selected by the customers, for instance, if a customer selects Amercing Lettuce instead of local lettuce, the price of the salad will increase. Similarly, the addition of ingredients will set the price of the end products and service for ChopChop.
Because of its unit measurement system, ChopChop needs to ensure that the cost of the final product does not cross the affordable limit of the customers. Furthermore, the price will have to be measured in comparison with that of the fast-food stores located nearby. Previously in the primary data analysis process, it was noted that price was not a significant element in customer decisions in the target market. Considering these factors, the pricing strategy for ChopChop will be designed with price skimming.
In the above-given model of the product life cycle, the product life cycle curve has been extended from the maturity stage to elongate the market life of the products and services. This has been performed with the help of the pricing techniques wherein on entering the maturity stage, service or product will experience a change in its value with strategies such as discounts or other offers that will keep the customers attracted to the products and services. The advertising and media activities of a company are the basis of befriending an unknown market Der Foo, Wong and Ong In the case of ChopChop, it was noted that similar to most of the significant international market places in the world, Qatari customers also prefer to consider word-of-mouth or recommendations suggested by friends and associates.
Based on this, public relations will play a crucial part in the business development process of ChopChop. The primary objective of the marketing activities will be to create customer awareness about the brand. The traditional means of marketing will be distributions of leaflets, print advertisements in leading local dailies and the kiosk of the store.
Apart from this, monthly social activities such as organizing small events for spreading environmental concerns etc. Will help ChopChop in maintaining and building a customer-friendly brand perception. The initiation of the company website will further promote the marketing activities as ChopChop can engage in both social media and search engine optimization enlarging their field of operations.
The online marketing activities of ChopChop are expected to enhance the market scope for ChopChop in other nearby locations such as Ar Rayyan. The marketing and public relations activities of ChopChop will be performed by a third party firm which will reduce the cost of operations and also increase the potential of marketing considering the local market knowledge of the concerned party.
The web presence plan for ChopChop during the initial six months of their operations will mainly restrict to creating customer awareness about the brand. In this process, the primary activity will be to launch the online store, create social media profiles, provide online advertisements on various platforms such as Google Adwords, etc. These processes will be performed under the scope of search engine optimization and social media optimization. The social media accounts of ChopChop will help it to identify potential target markets and also communicate with their customers directly via chatting or e-mails.
ChopChop can perform further promotion by creating online public relations processes via Twitter and Facebook. The company can also post their social and community-related activities on YouTube to highlight their brand value and core beliefs. Once the offline sales stabilize, ChopChop will integrate a payment gateway such as PayPal or American Express with their website and also begin the process of taking online orders and deliveries. As mentioned by Der Foo, Wong and Ong , the operational planning process of a firm highlights the daily needs and activities that are needed to be performed to attain the strategic objectives of a firm.
This statement shows the connection between the operational activities and the business objectives of a company. The operational plan of a firm needs to be aligned with the organizational culture and work structure of the firm to ensure effective management and performance monitoring process Der Foo, Wong and Ong In the case of ChopChop, the operational activities of the stores can be segmented as per their sales plan, their strategic objectives and their organizational capability in terms of financial, infrastructural and human resource.
The store design will be compact and straightforward, which will allow the manager to reduce the space needed for operations. A sample preview of the store can be gathered from the below-given image:. The above-given design shows the front space of the ChopChop store.
The manager and the store executive can be seen in their appropriate positions in the store alongside the cash counter and the product shelves. There will also be a backend space in the store for managing the online order delivery and company website. Meanwhile, the sitting arrangements will be improved by placing wall-side eating racks. The storage capacity will be 20 customers at any given point of time. This location will ensure a steady inflow of customers. The expansion plan of ChopChop will be focused on opening new stores across the sports centres of the city and other significant business or market hubs.
Recruitment and selection process of a company is based on the criteria of performance and operational requirements Der Foo, Wong and Ong The recruitment and selection activities of a company should highlight the specific talents and skills that are required to fulfil the organizational goals.
In the case of ChopChop, the recruitment and selection process will be outsourced to a local human resource organization or consultant. ChopChop must have employees who can conform to the needs of the local customers as well as the expatriates.
Thus, the recruitment needs to be performed by a professional. The final selection of the employees will, however, be completed by the managerial body of the company. The recruitment advertisements will be given via online and print media sources, and the expenses will be included in the payment of the third party consultant. The performance measurement plan of a business can monitor the contribution of its resources towards the organizational objectives Der Foo, Wong and Ong Performance measurement or monitoring techniques are implemented in an organization in alignment with the work structure and the organizational culture of the firm.
The performance measurement process for Chopchop will initially perform with the help of Quarterly Performance Review, the changes in the performance of the company will be measured about the contribution of the human resource of the company. As a result, the firm can monitor its overall growth as well as its productivity under the changes in the market trends and business activities. The QPR can be a demanding and strict monitoring system, but it also creates a sense of competitiveness among the employees and improves their productivity.
One of the significant factors that help in associating the business performance about its human resource performance is the motivation and engagement of the employees Der Foo, Wong and Ong In the case of ChopChop, the manager will design incentives and reward structures about the performance of the company. Corporate governance is defined as the process of understanding and managing the functions of business about its organizational objectives Der Foo, Wong and Ong Der Foo, Wong and Ong further added that corporate governance of a firm focuses on the mutual development of the business along with its stakeholders and also brings in the aspect of ethical and judicial norms associated with the company.
ChopChop will be launched in Qatar as a single store with an expansion plan of being a chain restaurant serving organic food. As the initial store launch will be limited 1, the corporate governance activities for ChopChop will be mostly responsible for ensuring effective managerial planning and decision making for promoting the brand value of the company.
On the other hand, to enhance customer interaction and identify their needs, ChopChop will utilize feedback forms for gathering customer information. Apart from this, the employee management system will be participative, considering the small size of the organist ion during its initial stage.
The ownership structure of a firm highlights the top management and the related stakeholders. They have high interest and power in the context of managing the business Der Foo, Wong and Ong Being a single store, the ownership structure of ChopChop will be simple and flat hierarchical.
The business structure of the company will not only highlight effective communication among all the employees and the managers but also facilitate knowledge sharing and participative decision-making processes. Ownership structure, on the other hand, in the initial stage of business development for ChopChop, will be that of a sole trader.
The owner will not consider a partnership before experiencing the market structure, trends and the performance of the business in both actual and potential terms. Based on these factors, the owner will consider selecting a partnership for ChopChop. However, there will be third party associates such as the legal and accounting groups, website development or market analysts. They will actively participate in business development but will not be authorized to share the profit of the company.
The entrepreneurial rights abide by an individual not only by authorities but also by responsibilities. As per this statement, an owner is responsible for business growth as well as holds the right to implement changes in the business. The owner of the company will also design the performance of ChopChop as per the business idea and the future strategy of the company. Furthermore, the owner will also be responsible for fulfilling all the legal and judicial formalities as needed by the local authorities and the Government of Qatar.
The organizational structure of ChopChop will be designed as per the needs of the company in the contemporary situation. As noted previously, the company has a single ownership structure and is considering the launch of an only store in the primary stages; the structure will be that of a flat hierarchy. The structure will also include the third parties as well as direct employees of the company for reflecting the full extent of the structure. The above-given structure of the company highlights all the associated members who will play a crucial role in developing the business of ChopcChop.
The owner will be controlling all the outsourced activities directly to reduce the pressure on the store manager. The store manager will be responsible for sales and revenue generation from the store and all other aspects, such as supplier relationships and employee management. The operational roles and responsibilities of a firm are decided based on the strategic and operational objectives of a company Der Foo, Wong and Ong As noted by Der Foo, Wong and Ong , the alignment between the strategic objectives and the operational capabilities of a firm highlights the functional roles and responsibilities of the company.
In the case of ChopChop, the executive functions and obligations of the firm will be mainly handled by the store manager. The store manager will design the work structure as per the instructions and the target given by the owner of the firm. The operational roles for the store manager will be to handle the inventory, sales, cash counter and employee performance. On the other hand, the store executive will be responsible for customer handling as well as serving. The delivery person will also assist in the store management and will be responsible for the inbound as well as outbound logistics monitoring and control.
The website maintenance team will focus on the nature of the performance of the growth and development of the company. The business case of ChopChop highlights the process of launching an organic food restaurant in a developing nation and untapped market based on the transformational process of the food and beverage industry. The demand for the selected business has been decided as Doha, capital of Qatar.
The core product and service base of the company revolve around selling green salads and health drinks that can be customized as per the taste and needs of the customers. The market of Doha is at present getting familiar with the trend of healthy diet wherein green food is a primary choice of the customers.
Furthermore, the majority of the Qatari population is formed by expatriates and thus can be considered to be potential customers where continental food flavours can be offered. The assumptions made for the business case of ChopChop are mainly associated with the internal practices of the firm. It can be noted that the ownership structure has been limited to single ownership, and the organizational structure is that of a flat hierarchy. Furthermore, the regulatory roles and responsibilities have also been assumed and have been amalgamated with the possible scope of outsourcing.
Apart from this, the operational tasks, the marketing strategies are also based on assumption and the analysis of the market structure of Qatar. The sum will be provided by the owner and a partial loan from friends. Other financial estimates presented and analyzed in the succeeding sections have been assumed based on the market analysis. The funding plan for ChopChop, as mentioned above, is divided between the owner and loan.
This sum will be utilized mainly for setting up the store and other set-up expenses. This fund will be mainly used for fulfilling all the paper works and the formalities needed for business development in Qatar. The loan amount will also be used for connecting with the third party associates of ChopChop. The breakeven analysis of ChopChop has been performed on the basis of their fixed costs, the total operating costs and the sales revenues.
The assumptions made for the breakeven analysis are as follows:. As per the product base and the market condition of the target market, the expected time frame for achieving the breakeven has been kept at seven months. The cash flow statement for ChopChop has been prepared to assume the operations for the first five years.
The milestones were chosen to develop achievable yet lofty performance goals for Kona-Q. The milestones were picked to be easy to measure. The following table offers detailed information regarding the milestones. Your business plan can look as polished and professional as this sample plan.
It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free. Kona-Q Strategy and Implementation Summary Kona-Q will leverage its two-pronged competitive edge to quickly gain market share. The importance of the experience.
With so many restaurants and prepared food being offered at grocery markets, the customer experience becomes extremely important as an effective way of distinguishing offerings. When a customer has a good experience at a restaurant, there is a significant chance that they will become a repeat customer. This memory is what is communicated to their friends and colleagues. Fast, healthy food alternative.
There is a huge market demand for fast, convenient food that can be consumed without dietary concerns. Kona-Q offers exactly this, vegetables and meats that are grilled with or without healthy marinades and sauces that add flavor not fat. White or brown rice is offered as the starch of the meal. In addition to the plentiful amount of vegetables offered, green salads are also available.
Kona-Q will employ several marketing outlets: Print media advertising: The Willamette Week, a weekly entertainment guide. Similar weekly entertainment guides will be used with expansion to different cities. Flyers: Passed around to local businesses with coupons attached to introduce the community to Kona-Q and creating an economic incentive to try it. Entertainment book coupons: Presented within the first eight months of entering a market.
The effectiveness of these books diminishes after approximately eight months and Kona-Q will turn to more cost effective marketing expenditures. A healthy food restaurant refers to an eatery that targets health-conscious customers such as vegetarians — the restaurant deals in vegan, macrobiotic, low-fat, and organic food. The demand for healthy food has increased tremendously in the last two decades.
As more people are diagnosed with diseases associated with poor feeding habits in New York City, the demand for healthy food is expected to rise significantly. Therefore, there is a need for the establishment of a healthy food restaurant to serve the growing market. This article presents a business plan for a healthy food restaurant to be situated on the outskirts of New York City.
Since the healthy food restaurant is a new venture, it will operate as a sole proprietorship business. Therefore, a single person will own the restaurant and will be responsible for making decisions on matters affecting the business. The objective of opening the restaurant as a sole proprietorship entity is to facilitate smooth decision-making processes. According to Akbaba , new businesses require multiple and regular adjustments before they adapt to the market.
Hence, operators are required to make timely and firm decisions. For partnership companies, it is hard to make quick and appropriate decisions. Thus, the restaurant will operate as a sole proprietorship business so as to facilitate decision making. The restaurant intends to give key workers an opportunity to own part of the business in the future. Nevertheless, this will depend on how it performs in the first two years.
If the returns are high, the restaurant will transform into a partnership by absorbing essential employees. Else, it will remain as a sole proprietorship business. The healthy food restaurant will target an ever-growing pool of health-conscious customers.
The restaurant operator presumes that the market will expand and respond quickly in the first three years. The primary objective of the restaurant is to establish a reputation for consistency, quality, and security, which will enable it to dominate the healthy food market. The operator will monitor the restaurant carefully to determine if it performs as expected.
Besides, the restaurant will introduce novel products gradually based on demand. The restaurant operator anticipates stiff competition in the first two years. Thus, he intends to diversify products and services to overcome competition. Ideally, the operator anticipates opening multiple restaurants in the future to exploit the growing demand.
In addition, he will decide whether to partner with other larger restaurants. Ritchie and Goeldner aver that a business plan is incomplete without market analysis. Indeed, the main reason for coming up with a business plan is to understand the target market. The team hired to conduct marketing research will limit its analysis to the target market. It will only focus on customers that prefer eating healthy food like vegetarians.
Besides, the team will analyze other market segments that the restaurant intends to target in the future. Thus, the market analysis will cover all potential customers who reside on the outskirts of New York City. The research group will use multiple sources of information to conduct marketing research. It will liaise with the chamber of commerce to obtain data on the demand for healthy food in the local market.
The chamber of commerce harbors crucial data that potential investors can use to forecast the success of their expected investment. The internet is another potential source of invaluable information. Consequently, the research team will conduct an internet search to obtain statistical data on the demand for healthy food as well as consumer behavior. According to Ritchie and Goeldner , it is hard for investors to get all the necessary information from public sources.
Therefore, they need also to rely on educated estimates. The team conducting marketing research will extrapolate data from various sources to come up with a comprehensive data of the target market. For instance, the team will utilize catalogs to gather information about the prices of different varieties of healthy food. The research team will divide the target market into numerous segments based on age and level of income.
Market segmentation helps organizations to focus on more definite market needs. The team will analyze individual segments so as to determine the correct pricing strategy to use. In addition, the research group will evaluate the buying behavior of each market segment to establish the factors that lead to a particular segment preferring one variety of food to others.
The group will study rival restaurants to verify their market positioning, competitive advantages, and limitations. The research team will identify the opportunities that the existing healthy food restaurants have not exploited. According to Renaghan , healthy food restaurants should not restrict customers to a limited number of products. Instead, they should provide multiple products to allow customers to choose their preferences.
The healthy food restaurant will prepare its menu based on consumer needs. The marketing research team will help to identify the products that are highly demanded. In addition, the restaurant owner will encourage employees to interact with customers and identify their changing needs. Hence, the restaurant will keep a tab of the changing demands and regularly update its menu to attract potential customers.
At times, the introduction of novel food varieties affects the sales of other varieties. Thus, the operator will be keen to make sure that the introduction of novel food items does not affect the sales of other varieties. He will achieve this objective by ensuring that he maintains and improves the nutritional values of the existing products. The primary objective of the restaurant is to provide food varieties that are nutritious, tasty, and guarantee the health of consumers.
The restaurant will prepare its meals from whole grains, fruits, lean meats, and vegetables. The vegetables will include broccoli, beets, bell peppers, asparagus, and eggplants, among others. Lean meats will include chicken and turkey. In addition, the restaurant will serve seafood such as salmon, cod, scallops, and sardines. Customers are likely to purchase these foods since they facilitate weight loss and curb risks of contracting heart diseases.
The restaurant is certain that the meals will meet the health needs of most customers. Apart from meeting the health needs, the meals are easy to prepare and pocket-friendly. Thus, the restaurant will attract customers from both the middle and upper classes. Customers evaluate the nutritional value of products before purchasing.
Consequently, the restaurant operator will use multiple pricing tactics to lure consumers. The restaurant will not sell its products at low prices as this will lead to customers suspecting that it has compromised the quality of the products. One of the strategies that the restaurant will apply is value-based pricing. The restaurant will set prices based on the value of the products. Food varieties with high nutritional value will be sold at higher prices than those with moderate nutritional value.
The restaurant will also use a premium pricing strategy. It will keep the prices of a majority of the products high so as to invoke positive discernment among customers. The approach will help the restaurant to utilize the penchant for customers to presume that costly products are desirable, dependable, and of superior quality.
The location of a business contributes to its sales volume. Businesses such as restaurants and supermarkets should be situated in sites with high traffic Renaghan, The restaurant will be located on the outskirts of New York City. The reason for choosing this location is to target a considerable number of customers in the city who might not afford to eat from the main restaurants.
The location is convenient as customers can walk to the restaurant, have their meals, and go back to the city, especially the workers. Besides, the fact that the site is adjacent to the city makes it preferable. Most customers would not like to associate with restaurants that are situated in unclean environments.
Thus, locating the restaurant on the outskirts of New York City is in line with its objective of promoting healthy eating. All varieties of food will be prepared at the site. Therefore, the restaurant will not require shipping its products to the point of sales. The healthy food restaurant will use multiple strategies to promote its products.
First, the restaurant will publish leaflets and brochures that describe its products, as well as location. The leaflets and brochures will be distributed to potential customers, and others placed on notice boards of major institutions. In addition, the restaurant will use social media like Facebook and Twitter to promote its products.
Most people in New York City have access to the internet and use social media. Therefore, the restaurant operator is certain that he will reach many potential customers through social media. The operator will also run television advertisements to reach customers who do not visit social media. It will encourage many clients to visit the restaurant. The main advantage of the restaurant will be its skilled workers.
The restaurant will hire employees with extensive experience in preparing healthy food. Hence, customers will be guaranteed of delicious and nutritious meals. Moreover, it will sell its products at competitive prices. The restaurant will offer special promotions to attract customers during low seasons.