Reference no: EM133165894
You are to assume the role of owner of Superior, a brand new restaurant that is breaking ground soon. Your business partner has asked you to analyze two different restaurant types to consider and make a final decision.
Superior will be breaking ground soon in the downtown area of a city with 500,000 people. You and your business partner have spent years scouting for the perfect location, growing funds and obtaining the appropriate licenses. Your business partner has handled most of the monetary and legal aspects of the restaurant, but the bold, restaurant defining decisions are yours to make.
You have not yet decided if Superior should be a family restaurant, serving typical American-fare or a gourmet fine dining restaurant. The decision must be made soon, so your business partner has asked you to analyze the following:
A family restaurant would join hundreds of other family restaurants in the area. All of the family restaurants in the area are chains, either national or regional, which would mean Superior would be the only unique family restaurant in the area. Your business partner (judge) wants you to analyze financial implications of a family restaurant, menu items, menu pricing, potential clientele, hours of operation, décor and ease of promotion.
A fine dining restaurant would join twenty-five other fine dining restaurants in the area. Half of the fine dining restaurants are chain affiliated while the other half are unique to the city. Your business partner wants you to analyze the financial implications of a fine dining restaurant, menu items, menu pricing, potential clientele, hours of operation, décor and ease of promotion.
After you have shared your analysis (including at least five suggestions for why each type of restaurant would be a good choice) with your business partner, you will need to make a final decision.
Once you have completed your analysis of the two business types, answer the following questions:
- Now that you've made a decision, how should we promote our grand opening?
- Do you think it is appropriate for both family restaurants and fine dining restaurants to be on social media? Explain.
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