In terms of growing my existing market, I think I need to branch out slightly. I really had this idea for the restaurant to thrive in the later hours. However, if there were a way for it to thrive during the day as well, I think that would be a no brainer. More success equals more profits and ultimately a better built organization that has the ability to expand elsewhere. I really think that a concept like this has the ability to grow.
A radically bigger market to target would be something like the generation ahead of ours. This being, the parents of the current market. Most of them have matured past the point of wanting quick meals that are often incorporated with being intoxicated. They prefer a higher-class type of life. While my restaurant idea is not low quality in any way, it is without a doubt a far cry from being a five star steak house, in terms of it not being an uptight atmosphere.
To me, this idea seems very unattractive, as a lot of my business idea revolves around being structured in a college town. Not necessarily, the demographic, but the ease of access to everything is vastly greater in a college town, including costs and structure of the organization. For this reason, I do not believe that there would be a benefit to changing the market.
Hi Alex,
ReplyDeleteGreat job on this assignment! I like your idea of opening a new late night place for college students. Many of the options right now are boring chain restaurants. Therefore, I think your new restaurant would definitely be a success. Overall, great job on this assignment. Here's the link to my blog if you want to check it out: http://julianakrevans.blogspot.com/2016/03/whats-next.html
Alex,
ReplyDeleteI really enjoyed your idea about branching out with a business that is appealing at late night times as well as during the day. I think that it would be good for it to be a bit higher quality as well so people can actually feel good about what they are eating. What do you think you would carry in the restaurant. I think you would have great success in Gainesville. Great job! Check out my blog here: http://meganerobb.blogspot.com/2016/04/whats-next.html
Hey Alex. First off, I wanted to briefly say that I think you did a nice job with this assignment. I think your idea is definitely interesting and I think it has the potential to be pretty successful. I did not complete this assignment, but if you are interested you can check out my blog here at this link: http://parkeruf.blogspot.com/
ReplyDeleteThat’s a great idea to branch out slightly in the future. I think you are right that if you were able to be open during the day it would be a good move for your business. You seem to have a very well thought out plan. You can check out mine at: http://nicholeent3003.blogspot.com/2016/03/venture-concept-no-1.html
ReplyDeleteHi there Alex
ReplyDeleteI really enjoyed reading your blog post! It think your plan for the future of your business was very well said and very well comprised. I think it is always a good idea to grow your business or branch out slightly, which is something I want to do with the future of my own business idea. Overall, fantastic work! Here is the link to my blog post in case you want to check it out: http://lbritthoff.blogspot.com/2016/04/whats-next.html
Hi there Alex,
ReplyDeleteSeems like your post could be improved if you actually went out and interviewed people like the assignment entailed. Also if you have given commenters a description of what your business actually was. This post really didn't tell me much other than that you plan on starting a restaurant. No worries though. I get it. We're all busy. I didn't do this assignment either so here's the link to my blog: http://cassandrathe.blogspot.com/