The restaurant industry is very competitive, the lifestyle changes created by modern living continue to fuel its steady growth. More and more people have less time, resources, and ability to cook for themselves.
The most important things that we have to concern before opening the restaurant is site selection. I have decided to open a restaurant in Seoul Korea near downtown urban setting; it is an area where people would go out to eat.
The customer base will come from 3 major segments;
·Colleges and Universities — There are 3 universities near my restaurant and one of them are within walking distance.
The food concept and product image will attract 3 different customer profiles;
·The student– more and more young people have developed healthy eating habits
·The health conscious person of any age or sex — this includes anyone on a restricted or prescribed diet or those who have committed to a healthy diet.
·Curious and open-minded – “if you try it, you will like it.” Through publicity, and word of mouth, people will seek out a new experience and learn that nutritious food can be tasty, fun, convenient, and inexpensive.
My Restaurant will be offering a menu of food and beverages with a distinctive image. There will be three was to purchase these products; table service at the restaurant, take-out from the restaurant, and delivery to home or office.
The menu is moderate sized, and moderate-low priced offering a collection of ethnic and American items with a common theme — healthy (low-fat, low cholesterol, natural ingredients), flavorful, and familiar. Our goal is to create the image of light satisfying and still nutritious food.
Food production and assembly will take place in the kitchen of the restaurant. Fresh vegetables, meat and dairy products will be used to crate most of the dishes from scratch. The chef will exercise strict standards of sanitation, quality production, and presentation or packaging over the kitchen and service staff.
There will be three ways a customer can purchase food. They may sit down at one of the 25 seats in the dining room and get full service from a waitperson. A separate take-out counter will service those who wish to pick up their food. Most take-out food will be prepared to order with orders coming from either the telephone or fax. Delivery (an indirect form of take-out) will be available at certain times and to a limited area.
The restaurant will be open for lunch and dinner 7 days a week. Service will begin at 11:00 AM and end at 11:00 PM. The restaurant will be closed Thanksgiving day.
Employees will be trained not only in their specific operational duties but in the philosophy and applications of our concept. They will receive extensive information from the chef and be kept informed of the latest information on healthy eating.
A big emphasis is being placed on extensive research into the quality and integrity of our products. They will constantly be tested for our own high standards of freshness and purity. Food costs and inventory control will be handled by our computer system and checked daily by management.
Most food will be prepared on the premises. The kitchen will be designed for high standards of sanitary efficiency and cleaned daily. Food will be made mostly to order and stored in large coolers in the basement.
Food for delivery may be similar to take-out (prepared to order) or it may be prepared earlier and stocked. Catering will be treated as deliveries.
There are over a dozen restaurants in the downtown area that sell food at similar prices. Although this presents an obvious challenge in terms of market share, it also indicates the presence of a large, strong potential. The newest competitors have made their successful entry based on an innovative concept or novelty. My restaurant will offer an innovative product in a familiar style at a competitive price. My aggressive plans of take-out and delivery will also give us an advantage to create a good market share before the competition can adjust or similar concepts appear.
There are three major ways in which we will create an advantage over our competitors;
·Product identity, quality, and novelty
·High employee motivation and good sales attitude
·Innovative and aggressive service options.
My restaurant will be the only restaurant among all the competition that focuses the entire menu on healthy, low-fat cooking. Each of the competitors offers at least one “healthy” selection on their menu. The target market will perceive my restaurant as the destination location for healthy, low-fat cooking.