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BUSN287 Budgeting and Forcasting
Task:
Vision
The vision of the entrepreneur is to create a single-location, sit-down Italian restaurant sometime in the second year of operation, as wells as profit that is at least of sales.
Strategy
a) Market Focus/Analysis
The restaurant targets middle to lower-middle class families with children as well as adults and seniors, located in Orlando, Florida. The area within 15 minutes of the store has families, mostly from lower to middle class neighborhoods. Average family size is 4 people per household. There is no direct competition; however, there are fast food restaurants like McDonald’s, Taco Bell and Wendy’s in the geographical target market. The lower-to middle class population is growing at about 6% per year over the next five years in this area.
b) Product
The product is Italian food served buffet style, in an all-you-can-eat format, with a salad bar, pizza, several different types of pasta with three or four types of sauces, soup, desserts and self-serve soda bar. The restaurant is also to have a square foot games area which has game machines that children would be interested in using.
c) Basis of Competition
Customers come to come to this restaurant because of the good Italian food at a low price – where you can get a meal for including drinks. Customers also eat at Papa Geo’s due to the cleanliness of the facility, the speed of getting their seat and food, as well as the vending machines which keep the children busy while adults enjoy their meal.
BUSN287 Budgeting and Forcasting
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