The business proposal is for the development of a fast food restaurant which will offer best quality food items and the specialty will be Roasted fried chicken. It comes under the hospitality sector and will offer the wide range of services along with the efficient products to all the concerned clients. The firm is engaged in offering different products such as French fries, different items of chicken, burgers, coke, pizzas and the specialty is the Roasted Fried Chicken. The features of the restaurant are that it offers roasted fried chicken that comes with tomato soup which is free cost and will enhance the taste of the people coming to the restaurant (Adams, 2014). In order to gain the preferred competitive advantage over the other competitors within the concerned market segments, there needs to differentiation in the quality of products and services along with differentiation pricing strategies. The restaurant will offer products as of top most quality and the prices will be to the lowest possible. It is imperative to recognize the desired wishes of the clients and provide the services and goods as per their satisfaction. The offering of the roasted fried chicken along with the tomato soup will help in bringing out the preferred uniqueness to the product and moreover it will gather a large number of the clients to the restaurant (Fabozzi & Markowitz, 2011). It needs to critically understand that the uniqueness of the products helps in increasing the sales of the products. Next, is the offering of a top most quality of the services which will increase the effectiveness of the customers while assisting them with the products? The location of the restaurant is of great importance and it helps in attracting a large number of the customers towards it. The currents changes throughout the market segments reflect that services as well as the products should be of top most quality and it helps in bringing best positive outcomes for the restaurant.
The selection of the location plays the crucial role in evaluating the significant expansion and establishment of the firm within the competitive area of the marketplace (Gallagher, 2009). The location will be in Melbourne across different colleges. At the beginning of setting up of the restaurant there will own restaurant and after successful running of the business, franchisees may be taken in order to increase the profitability of the firm (Gelman & Price, 2014). It becomes most crucial to understand the desired suitability for the location as it helps in attracting a large number of the students as well as the other audiences. The picking up of the set consists of a large number of the students and therefore it will be easy to increase the sales revenue for the firm. The advantages of the location are that the students are fond if fast food and the number of fast food lovers are increasing rapidly, therefore it will enhance the share and sales for the restaurant. The disadvantage would be that availability of the transportation system to the restaurant and as the location is near the college so it might unsuitable for the outsiders to visit the restaurant. The choice of the location will require a certain amount of cost and it will greater as the restaurant will be near to the college and it will require certain expense.
The use of targeting, positioning and segmentation are crucial as to attract customers to the restaurant. The target markets would be the students throughout the colleges and the area around the colleges will be targeted, moreover, the promotions near different malls and tourist places will help in increasing more number of the customers towards the restaurant (Jones & Silverstein, 2009). The customers can also be categorized on the basis of gender, age and income as this will facilitate in provided the appropriate services and products to the right customers. The size of the targeted market segments can be calculated as market volume = no. of target clients x penetration rate (Sensmeier, 2009). Based on the above formula the size of the market segments is determined to be nearly 1300 which is 70% of the total share of the market population (Pakroo & Stewart, 2010). The expectation from the different market segments would be near AU$ 1.5 million on an average. The different segments of the marketplace have their own diverse potentials such as the demographic factors, socio and technological factors and the technical factors. There are demographic factors such as climate, change of the seasons and the population which can significantly affect the desired growth of the firm (Pinson, 2008). The socio and cultural demographics reflect the fact that different customers require different tastes and this needs to be fulfilled as to increase the efficiency of the firm. The customers needs to be given preferences who are the local customers and also to the foreign international customers as this may positively increase the profitability of the organization (Ryall, 2010). These target markets will be visiting us instead of the other competitors as they will have skilled customer service support and the quality of the food products will not only be satisfactory but will be of top most quality as per the taste of the customers. The use of the effective marketing tools will help in creating the vast amount of impact in front of the students as well as the other customers regarding the fast food restaurant.
It is vital to understand the desired level of competition throughout the targeted market segments s this will facilitate in evaluating the growth and expansion of the restaurant on the large scale. Five of the best competitors throughout the Australian market segments are Subway, McDonald Corporation, KFC, Pizza Hut and Breadtop. These restaurants are delivering the best value to the customers and moreover, the quality and the different tastes of the new products are certain areas will be helpful in increasing the profitability of the firm (Spanyol, 2014). There are some of the similarities such as the format offering of the wide variety f the products such as chicken, Pizza and Burgers. Moreover, there will be dissimilarities related to the tastes and the lowest prices of these concerned products. The differentiation pricing strategies and different tastes with the top quality of products will facilitate the growth of owns restaurant as compared with the others. Moreover, the complete analysis of the services offered by these mentioned competitors evaluates the fact that customer service needs to be effective and skilled in order to assist the clients with the best efforts. The management team needs to be effective in formulating best effectual strategies related to the customer service and product management.
The operations from different competitors bring out creativity and innovative ideas to our complete knowledge which is helpful in the development of this business process. The recruitment of the diverse employees needs to be done as to understand the requirements of the international customers. The controlling and the monitoring department of the firm will monitor the quality of the foods and the services delivered to the clients (“Stroke: latest treatment options in acute management”, 2015). So, overall the enhancement of quality foods and services, quality customer support and effective and healthy environment of the restaurant will help in making the firm’s operations better than the competitors.
The management team consists of Brand manager, Operational manager, two assistant managers and one General Manager along with five executives for different managing purposes. The experiences of the managers will help in fascinating the expansion of the business and the background of the business is of fast food restaurant which will be enhanced the efforts of the management team. The brand manager should handle the sales management system along with two executives nada the manager should have relevant three to four years of experience within a restaurant chain, next the general manager and e other managers should possess two years of relevant experience for their particular posts as of managing the customers efficiently (Waldman, 2011). A Bachelor degree in management of business operations is needed as a minimum requirement to handle these operations successfully. The formal learning includes the bachelor degree and the relevant experience as per the post whereas the informal learning requires complete knowledge on the entire matter for assisting the customers in difficult situations. The appointment of the Human Resource Manager will recruit the best skilled and experienced candidates to the serve the customers with the greatest quality of service and customer support. It is the matter of truth that in order to supply a fast food restaurant, the employees should have the information of it; also he or she should have the desired capability and skills to handle and assist the customers with the greatest quality as to reach their satisfaction level. These skills of the employees will enhance the overall performance of the firm and will increase the productivity as well as the profitability of the restaurant.
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Gallagher, R. (2009). How to tell anyone anything. New York: American Management Association.
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Pakroo, P. & Stewart, M. (2010). The small business start-up kit. Berkeley, Calif.: Nolo.
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