All-Time Foodie Restaurant Business Paper Example

Introduction

The business I would like to venture in is the restaurant business. This is because the business is profitable and secure in that people are always having the need and urge to grab something to eat at any time of the day. Also, the business is convenient for families since it provides a platform where people can meet and discuss issues as they eat delicious meals. Moreover, investors understand the benefits that come along with the franchise, thus funding for the business can be easy.

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Company Description

The company will be named All-Time Foodie Restaurant located in Brooklyn New York. I will undertake the whole management of the restaurant together with interested parties that are willing to invest in the business. The profits will be shared according to the shares an individual contributes to the restaurant. All-Time Foodie will offer a variety of meals, from fast foods, traditional homemade styles, fresh juices, quality coffee, and tea. During the first six months ofthe operation, the company will be open from 8:00 am to 9:00 pm. After that, we will consider making it operational 24/7.

Communication of the Value of Products to Customers

The value of the products will be communicated to customers through different channels. Firstly, the business will focus on understanding the needs of the customers. This will enable us to focus on services that are most preferred by customers at all times to prevent wastage. Secondly, etiquette and polite communication will be mandatory to make customers feel welcomed at the All-Time Foodie restaurant. Lastly, my aim is to ensure that customers do not wait for orders as well as ensuring problems get solved immediately if encountered.

Impacts of External Environment

The main internal factors that can affect the business success are consumer preferences, location and health issues. Customer preference issues include the type of meals to eat and the time to eat. Different people prefer different types of meals. Thus, the meals offered should be in line with what most people prefer. Also, the restaurant should critically research what time most people eat meals whether it is breakfast, lunch or dinner. The location of the restaurant should be in a busy area where people will flood the restaurant for higher profits. Lastly, the all-time Foodie should ensure that the calorie content in foods is regulated for the health of customers as well as avoiding getting into legal issues with the state.

Incorporation of Technology

Technology will be an important asset in the business. The restaurant will have an online website where people can order customized meals for take-aways or for special occasions. Moreover, technology will offer table orders where casual clients can find it easy to get their meals. Additionally, the business will incorporate games at the table. This will keep children busy while parents enjoy their meals. Finally, the restaurant will offer WI-FI where people can browse as they wait for their meals to be ready.