Busines Opportunity Paper

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Words: 1352
Pages: 6
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Business Opportunity
Katrina Ulibarri
MGT/431
December 8, 2014
Robert Stack

Business Opportunity
Intro
The dream of owning a business is not an effortless task. This sort of commitment requires serious work for it to become a reality. The process of starting a company, whether the dream is to own a large global corporation or a small simple mom and pop diner is crucial process. Even the most thoroughly researched plans can go awry if not implemented effectively. A new and upcoming entrepreneur should gather knowledge of the trends of that market. Trends vary from location, the menu, food preparation, dining ambience, etc. Business owners are finding new concepts every day to not only reel in new customers but also to keep them coming back. Understanding the new trends will help to discover if there are business opportunities available and give the entrepreneur a chance to develop their own ideas on how to make their business a trend setter. For example, if a person wanted to open a new restaurant, they can learn from their competition on what is crowd pleaser and this will give them a chance to tweak it so it works for their restaurant. The idea is not just to be successful but to become a household name, like McDonalds or Subway.
Market Trends
Combining Retail and Food
A lucrative trend is having a restaurant inside of a retail store or having a small gift shop within the restaurant. For example, Cracker Barrel has a nice country home style feel that not only attracts tourist but appeases the locals as well. Inside is a gift shop that contains knick-knacks, children’s toys, candy (that brings back childhood memories for adults), home décor, and kitchen appliances. This helps a business because it not only profits from the guests dining experience but also from their shopping experience. Another example, the café in Urban Outfitters Terrain sells more than just coffee. The concept is to attract the hungry shoppers by giving them the convenience of food being available without having to leave the store before they are ready. It allows for the consumer to linger longer than they intended, giving them more time to spend money. This trend is not only limited to food, it could be a simple bar within the retail store that offers drinks while you shop. There is nothing better than having a glass of wine to relax the body while one looks for a new outfit or for the males have a cold beer to numb the pain from the huge dent replacing the money being spent.
Healthy Eating
The rapidly growing demanding trend is eating healthy. This means more and more restaurants are advertising the use of fresh ingredients. This is a very attractive trend, because more and more consumers are watching what they eat and counting calories. Fresh vegetables and fruits are appealing to consumers because then they know that they are getting the best quality for their money. Food establishments are also advertising more made in house sauces and dressing to let the guests know that their food is not coming from a bag that was stored in a warehouse out of state. Having these will help build trust between restaurants and customers, which means the possibility of more visits. In turn could also help with advertising through word of mouth. A casual dine in restaurant, Noodles and Company, live by that code. They do not advertise because they believe if their food is good enough, their customers will bring in new business.
Besides having fresh ingredients another health kick restaurants are trying is to spice up different foods in the kitchen. Some restaurants are glamorizing the way chicken is prepared and presented in order to appeal to the consumers who want to eat better. In other words, they are substituting the old chicken nuggets or strips, basically. Fish is another non-red meat that is coming back to restaurants in force. Anchovies, sardines, and mackerels are becoming quite popular due to the health benefits. Instead of butter,
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