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In our area there are several restaurants that offer a variety of services to their clients. In total, we have about fifteen restaurants but all of them do not provide the same food stuffs. Of the total number of restaurants, we have about three that offer only soft drinks, such as soda and fruit juices. Eight of them provide foods like fried meat and chicken, stewed meat and chicken, chips, salads, snacks and tea. While the remaining four offer purely coffee, although sometimes they also offer snacks but not that much or frequently.
With the analysis of the market in the area, I believe it is a perfect hunting ground for a type of restaurant that offers all the kinds of food stuffs. Since this is business and as well all know, business is all about making profits, and this should be done by all means possible. I believe for a business to be successful in this area and achieve its objective, all factors of business should be taken into consideration; these include the population of the area, race and age groups. However, a good business should be in a position of targeting all the groups or classes of people so that it can be able to capture money from all corners of the market.
Considering that the area is a shopping center and there are many people who would like to eat different kinds of food, it is good to offer variety, so that one can just find what he or she wants under one roof without having to move. Moreover, considering that the area has a cold weather most of the time, coffee should be given first priority since it is the kind of food stuff that goes with cold weather. Also, since the population consists of middle aged men, it would be good to offer some alcoholic drinks to capture them, since most of them tend to go to other areas in order to quench their thirst for alcohol.
Being that ladies are widely known to like light foods and drinks, it would be also important to consider them. This area has so many ladies; that is both old and young ones, therefore, foods like rice and chips as well as soft drinks will do them a favor. The area also have children and I believe for a business to fit into this competitive market, stuffs such as smokies and sausages should also be made, so that they can also be included in the target market. Another thing that is always essential in the establishment of a business is the site or location.
This normally plays a vital role in the capturing of clients. This is one factor which I have discovered that the existing restaurants in this area did not take into consideration during their planning, and I believe it is an opportunity that should be utilized. Therefore, for a restaurant business to be successful in this area in competing the existing ones, its location should be strategic; that is, it should be located at the core of the shopping center whereby the population is centered. Another area that appears to be good for the location of the restaurant is near the colleges and some other institutions that have large populations that would serve as a perfect market.