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Restaurant Industry Analysis Paper

Decent Essays

1. INDUSTRY ANALYSIS

a. What is the history and size of the industry?
Busy families are always on the go and eating out has become the only option for many. Even though people appreciate the convenience of eating out, more and more people are concerned about making healthy eating choices for their families. According to a survey conducted by the National Food Association, 76% of adults will be willing to switch to healthy eat out alternatives than two years ago; 67% said they are already ordering the healthful option for their meals. In a research conducted by the National Restaurant association in 2015, it is predicted that the restaurant and food service industry will reach $709 billion at least by 2016, a growth of 3.8 percent from 2014. …show more content…

As a result, employment will rise in that sector. The business environment in some region of the country is booming while some are staggering, but the overall restaurant industry is experiencing growth. “In 2015, the top states for restaurant sales growth are Arizona, Florida, North Dakota, Texas and Colorado. Looking at restaurant job growth over the next decade, Arizona is again in the lead, followed by Florida, Texas, Georgia and Utah.” www.restaurant.org. The restaurant industry is highly regulated and sets strong requirements in terms food safety and food content. For example, the FDA has started to require calorie disclosure from chain restaurant to help consumers make healthful dietary choices. Since more and more people eat outside of the home, it has become a national health concern. In addition more women work outside the home than decades ago making restaurant a more convenient option for many families. Also the baby boomers are expected to double by 2050 and are more likely to eat out.

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1. COMPETITIVE ANALYSIS

a. Who will be your competitors?
Our competitors are mainly the fast food restaurants and also all restaurants that have a strict menu (which can be unhealthy for some) that the customers have to abide by. Our competition will include fast food, casual dining, fast casual, family dining, …show more content…

People are busy trying to juggle between life, work and family leaving them to become victim of unhealthy lifestyle including the overdependence on fast food. To overcome these challenges busy families face, Beyond Fast Food was created to help families make a good eating habit without sacrificing their precious time and efforts by trying to cook their own meals. With a technology driven environment, Beyond Fast food will allow customer to choose their own ingredients and cooking style online and have a physical restaurant prepare their family meals for them the way they want and at the time they want. People can even schedule a week family meal plan giving them more peace of mind. Beyond Fast Food is an online version Beyond Fast Food will allow Busy families to eat healthy while still on the go. At this present time, we are the only restaurant that offers this phenomenal healthy/convenience type of service to consumers no matter what their concern for healthy and fresh food

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