Feasibility Report for a Fast Food Restaurant Free Essays

string(112) " in Lagos play host to people who live in Lagos City, and also provide a conducive environment for businessmen\." FEASIBILITY REPORT FOR A FAST FOOD RESTAURANT PREAMBLE: We have taken out time to write this report for several reasons among which are: [pic] This project serves as part of the â€Å"private-sector participation initiative† drive embarked by our company [pic] Our desire to make you reconsider your present stand about not wanting to invest in the Nigerian economy, for now [pic] Our belief that this report can form a base for an enlarged feasibility report, which we hope you, would commission us to carry out [pic] Our desire to make you see the financial viability of this project [pic] Our desire to make you see the potentials of the Nigerian market [pic] Our desire to bring viable investments into this country [pic] Our desire to portray the true image of Nigeria to the outside world [pic] Our desire to see your company operational in Nigeria It is therefore our firm belief that after reading through this report, there will be a burning desire to reap the benefits of investing in Africa’s biggest market, and partnering with us in its quest to touch hearts through the McDonald’s heritage. TABLE OF CONTENT 1. DATA GATHERING 2. We will write a custom essay sample on Feasibility Report for a Fast Food Restaurant or any similar topic only for you Order Now CONCEPT DEVELOPMENT 3. SITE ANALYSIS 4. COMPETITOR ANALYSIS 5. FINANCIAL STATEMENT [pic] DATA GATHERING [pic]BASIC FACTS ABOUT NIGERIA: AFRICA’s BIGGEST DEMOCRACY AND MARKET. FEDERAL CAPITAL: ABUJA COMMERCIAL CAPITAL: LAGOS POPULATION Nigeria with a population of 113,828,587 (July 1999 EST. ) is the most populous country in Africa. It has a Population Growth rate: 2. 92% (1999 EST. ) AGE STRUCTURE 0-14 YEARS: 45% (MALE 25,613,974; FEMALE 25,397,166) 15-64 YEARS: 52% (MALE 30,272,539; FEMALE 29,197,611) 65 YEARS AND OVER: 3% (MALE 1,678,732; FEMALE 1,668,565) (1999 EST. ) [pic]MARKET AREA We intend that McDonald’s setup its first restaurant, in Lagos State. It has also pinned down any of these locations for its first restaurant, namely Broad and Marina Streets in Lagos Island, Awolowo Road in Ikoyi, and Akin Adesola and Ahmadu Bello Way, in Victoria Island. There is a school of thought that says that the Market in Lagos is bigger than the Market in other countries of West Africa put together. For people conversant with Lagos, these locations are prime locations, as they boast of the presence of Nigeria’s high rise buildings, Nigeria’s most successful shops and companies, with their attendant management and senior staff, who invariably are Nigeria’s creme de la creme. These locations can also be regarded as Nigeria’s Jugular vein in commerce. They also presently boast of hosting the best Fast Food Restaurants in Lagos. We are already looking forward to a healthy competition between you and them. Another feature of these locations is that they can be accessed within 5-10minutes of each other. It is therefore usual to see people working in Victoria Island moving over to a restaurant in Ikoyi, or Lagos Island, and vice versa. [pic]DEMOGRAPHY OF POTENTIAL CONSUMERS: Age: Infant – 60 and above (some fast food restaurants have playing pens for infants) Sex: Male: Female (55%: 45%) Income: $300/year and above Usage Rate: Worst Case Scenario: 500 consumers/day Average Case Scenario: 1200 consumers/day Best Case Scenario: 2000 consumers/day With McDonald’s we expect figures to get as high as 1,500, 2,200 and 2,700 respectively. User Status: Ranges from first time users, Regular users and Occasional Users. For an average day in the 1ST year of operations: First Time Users: approx. 10% Regular Users: approx. 50% Occasional Users: approx. 40% Loyalty Status: Indifferent (None) 42% Medium: 35% Strong: 20% Absolute: 3% We are however confident that with McDonald’s, consumers can be pulled from the indifferent categories, to being strong and absolute consumers with McDonald’s. Occupation: Predominantly white collar workers, businessmen also form a sizable proportion of consumers. During weekends and evenings, the majority of consumers are whole families, couples, lovers etc. Educational Qualification: Secondary (High) school certificate holders to PHD holders. Religion: Predominantly Christian and liberal Muslims. This therefore means, a willingness/freedom to associate with people, including the opposite sex in public. Provisions for Takeaway snacks also allow the recluse patronize Fast Food Restaurants. Social Status: 80% of all classes of society BENEFITS: These are related to some kind of advantages looked for in patronizing any business. In the case of Fast Food Restaurants, the following parameters have been used to assess patronage: Economical Nature of Investment: Medium Rating Convenience: High Rating Prestige: High Rating Hangout Venue: High Rating LOCAL TRAFFIC PATTERNS: Lagos has a high traffic pattern. On a busy weekday afternoon in Lagos, traffic density is approx. 000 cars/sq. kilometers. [pic] CONCEPT DEVELOPMENT Concept development means making decisions about the components of the fast food restaurant concept, including theme, menu, service style, hours of operations. Since this feasibility is for the setting up of an already established name, its concept would basically be c entered upon what is presently obtainable. It is however important to make some recommendations, as the data from the population in the market area would help in evaluating a fast food restaurant’s concept that fits the area’s needs and preferences. Lagos Island and its sister island, Victoria Island, form what is called Lagos City or EKO. It is a city with a high rate of hustle and bustle. In some parts of this city, the lights never go out. It is a city in which 70 percent of its work force comes from smaller towns (3-70 kilometers) from within and outside Lagos State, on a daily basis. This scenario automatically creates needs in the minds of some migrants to Lagos City, which must be met, such as: 1. Where do we eat breakfast, considering that we might have to wake up very early so as to avoid the early morning rush, which results in traffic jams? 2. Where do we eat lunch, considering the fact the demands of work and the distance between workplace and home will prevent us from going home? 3. Where do we eat dinner, considering that we might need to allow the traffic jam caused by motorists leaving Lagos City, subside? Apart from these variables, fast food restaurants in Lagos play host to people who live in Lagos City, and also provide a conducive environment for businessmen. You read "Feasibility Report for a Fast Food Restaurant" in category "Essay examples" We would therefore recommend that hours of operation span from 6. 45am to 9. 45pm daily. [pic] SITE ANALYSIS Specifically, we would like to narrow down our site search to Akin Adesola Street, in Victoria Island. This road is directly linked to the bridge that connects Lagos Island at the Ikoyi and Old Ikoyi end of Lagos Island: a drive of less than 5 minutes. It is important to note that Old Ikoyi is the most expensive residential area in Lagos State, and it is followed closely by Victoria Island, which also houses the most expensive office apartments in Lagos State. What this means is that McDonald’s would be neighboring the rich and tasteful people resident in Lagos State. Akin Adesola Street, which spans about 1. 1Km is directly linked to the major streets in Victoria Island such as Ahmadu Bello way, Ozumba Mbadiwe, Adeyemo Alakija, Adeola Odeku, Sanusi Fafunwa, Karimu Kotun and Bishop Oluwole Streets. It traffic density is not too high as the road is dualised. At the other end of this street is the famous Bar beach; with Kuramo beach around the corner. McDonald’s would therefore benefit from people coming to the beach who require Take-away. The presence of the beach also guarantees a constant supply of fresh air. Presently, only one major fast food restaurant operator has an outlet on this major road. Around Victoria Island there are presently about six fast food restaurants and based on the potentials of this area of Lagos State it would be an understatement to say that that Akin Adesola Street, would comfortably house another restaurant, most especially the first McDonald’s restaurant in Nigeria. It is important to note that apart from Lagos City, other towns in Lagos State, such as Ikeja and Apapa can comfortably host a McDonald’s restaurant. [pic] COMPETITOR ANALYSIS Fast foods in Nigeria are as old as Nigeria itself. From the time of Nigeria’s independence fast food shops have been opened in the major towns of Nigeria. It was however not until 1986 that United African Company of Nigeria (UACN) in a diversification bid opened the first real fast food chain of restaurants in Nigeria. Since then a number of other operators have graced the fast food restaurant industry stage. Presently, it is one of the fastest growing sectors of the Nigerian economy and it would not be out of place to say that there is already a fast food craze in Nigeria, and this is just the beginning. In financial term, the fast food industry is approximately a $40 million dollar market, with over 83% of this market in Lagos State alone. In doing a proper competitor analysis, it will be appropriate to first identify the major competitors whose presence will bring out the best of McDonald’s. The major players are MR. Bigg’s (a fast food restaurant operated by UACN), Tantalizers, Tastees Fried Chicken, Sweet Sensations, Munchies, Favorites, Friends Eatery, Kas Chicken, Fingers (a fast food restaurant operated by United Trading Company), St. Elmo’s (a South African Franchise). For this analysis, only the three major fast food joints will be discussed. MR. BIGG’S This is a subsidiary of the big conglomerate, United African Company of Nigeria (UACN). It started operations in 1986, and is noted for being the first real operator of fast food restaurants in Nigeria. Presently, there are thirty-seven outlets spread all over Nigeria, with a massive twenty-two in Lagos State. Plans are on the ground to increase the total number of restaurants to fifty-seven by the end of the year. An estimated 1200 people visit an average Mr. Bigg’s outlet per day. STRENGHTS †¢ Biggest financial muscle †¢ Brand Name recognition †¢ Good Knowledge of the Nigerian market †¢ Complete support of the UACN conglomerate as it is rumored to be the only subsidiary presently making a profit †¢ Strong emphasis on family and catching the young †¢ Formation of alliances with companies providing complementary goods †¢ Good use of the electronic and print media †¢ Starts operations as early as 6. 5am, with the intention of attending to people who want a good meal breakfast before working hours commence WEAKNESSES †¢ Its strength fizzles out at the arrival of the other major fast food operators to the neighborhood †¢ It is pr esently not noted for its excellent food, as it places emphasis on its snacks †¢ The initial excitement that heralded its entrance to the market seems to have been lost, as there seems to be â€Å"an out of fashion†, cover on it with the presence of the new entrants. This feeling is however peculiar to Lagos, as the opening of any Mr. Bigg’s restaurant outside Lagos gives a feeling â€Å"at long last†, to the residents of these towns TANTALIZERS One of the most promising fast food restaurants in Nigeria. They began operations in the Festac area of Lagos State in 1995, and within the space of about six years have opened seven other outlets. The management of Tantalizers can be regarded as very aggressive marketers. Their marketing strategy seems to be directly aimed at their competitors. In the last four outlets they have opened, they have set up shops almost directly opposite or at best, a little close to their competitors in the process of drawing customers to their outlets. STRENGTHS: †¢ Effective Marketing Strategy †¢ Improving Brand Name Recognition †¢ Commendable Customer Service †¢ Vastly improving financial muscle †¢ Marketing emphasis is on catching couples and lovers WEAKNESS: Increasing complaint about the quality of their food †¢ Diversification into Africa Meals may be their undoing as they would be dividing their effort between the Fast food restaurant and the new African food restaurant †¢ There seems to be an emerging class distinctio n within the fast food industry, and the feeling is that Tantalizers falls within the middle class category. In other words, for serious minded businessmen and the upper-class, Tantalizers would naturally not come as their first choice of a fast food restaurant TASTEE FRIED CHICKEN It is one of the most promising fast food restaurants in Nigeria. It began operations in Surulere, Lagos State. It is attributed to be the second new generation fast food restaurant, after Mr. Bigg’s. At the time of this report they have only three restaurants. When one considers the time they have spent in the fast food industry in Nigeria, and the fact that they only have three restaurants to show for it, one would want to mistakenly write them off as underachievers. Doing this will however be at ones peril as they seem to be carving a niche among the business and upper classes. STRENGTHS: †¢ Improving Brand Name Recognition †¢ Commendable Customer Service †¢ High taste and consumer conducive environment †¢ Regarded as having the best food in the industry Marketing emphasis seems to be on, catching the business class WEAKNESS: †¢ Ineffective class distinction. Class distinction which they claim to be their marketing strategy for luring the business and upper classes, has not seen them charging higher prices for their service with the belief that consumers who value their products and service will be willing to pay for it. In other words, even though it may seem that they are providing better products and service, it has not accrued to relatively bigger profit, as it seems that their expenses are relatively higher than their competitors, while the profit, which should be proportional to expenditure, is lower. †¢ Marketing is not aggressive [pic] FINANCIAL STATEMENT Financial Analysis will be based on the demography of potential consumers of McDonald’s as arrived at in the demographic studies (USAGE RATE) on page 4 of this report. According to the survey carried out on existing fast food restaurants, Usage Rate: Worst Case Scenario: 500 consumers/day Average Case Scenario: 1,200 consumers/day Best Case Scenario: 2,000 consumers/day With McDonald’s we expect figures to get as high as 1,500, 2,200 and 2,700 respectively per restaurant. Using these figures, assuming an average consumer spends $1. 5/visit/day, expected income: For Worst Case Scenario: 1,500 X $1. 5 X 360 days per year = $810,000 per year For Average Case Scenario: 2,200 X $1. 5 X 360 days per year = $1,188,000 per year For Best Case Scenario: 2,700 X $1. 5 X 360 days per year = $1,458,000 per year In reality, consumers presently spend between $0. 4 – $5 per visit, making our estimated income analysis of $1. 50 per visit very conservative. CONCLUSION: The nature of this report has made us only able to do extensive work on areas such as Data Gathering, Concept Development and Site Analysis. It has only been able to peripherally touch areas such as Competitor Analysis and Financial Statement. A proper analysis on areas such as Competitor Analysis and Financial Statement which form an integral part of any Feasibility work, will only be possible if the company for which this report has been done and sent to, finds it necessary to commission us on a more extensive feasibility study. How to cite Feasibility Report for a Fast Food Restaurant, Essay examples

Feasibility Report for a Fast Food Restaurant Free Essays

string(112) " in Lagos play host to people who live in Lagos City, and also provide a conducive environment for businessmen\." FEASIBILITY REPORT FOR A FAST FOOD RESTAURANT PREAMBLE: We have taken out time to write this report for several reasons among which are: [pic] This project serves as part of the â€Å"private-sector participation initiative† drive embarked by our company [pic] Our desire to make you reconsider your present stand about not wanting to invest in the Nigerian economy, for now [pic] Our belief that this report can form a base for an enlarged feasibility report, which we hope you, would commission us to carry out [pic] Our desire to make you see the financial viability of this project [pic] Our desire to make you see the potentials of the Nigerian market [pic] Our desire to bring viable investments into this country [pic] Our desire to portray the true image of Nigeria to the outside world [pic] Our desire to see your company operational in Nigeria It is therefore our firm belief that after reading through this report, there will be a burning desire to reap the benefits of investing in Africa’s biggest market, and partnering with us in its quest to touch hearts through the McDonald’s heritage. TABLE OF CONTENT 1. DATA GATHERING 2. We will write a custom essay sample on Feasibility Report for a Fast Food Restaurant or any similar topic only for you Order Now CONCEPT DEVELOPMENT 3. SITE ANALYSIS 4. COMPETITOR ANALYSIS 5. FINANCIAL STATEMENT [pic] DATA GATHERING [pic]BASIC FACTS ABOUT NIGERIA: AFRICA’s BIGGEST DEMOCRACY AND MARKET. FEDERAL CAPITAL: ABUJA COMMERCIAL CAPITAL: LAGOS POPULATION Nigeria with a population of 113,828,587 (July 1999 EST. ) is the most populous country in Africa. It has a Population Growth rate: 2. 92% (1999 EST. ) AGE STRUCTURE 0-14 YEARS: 45% (MALE 25,613,974; FEMALE 25,397,166) 15-64 YEARS: 52% (MALE 30,272,539; FEMALE 29,197,611) 65 YEARS AND OVER: 3% (MALE 1,678,732; FEMALE 1,668,565) (1999 EST. ) [pic]MARKET AREA We intend that McDonald’s setup its first restaurant, in Lagos State. It has also pinned down any of these locations for its first restaurant, namely Broad and Marina Streets in Lagos Island, Awolowo Road in Ikoyi, and Akin Adesola and Ahmadu Bello Way, in Victoria Island. There is a school of thought that says that the Market in Lagos is bigger than the Market in other countries of West Africa put together. For people conversant with Lagos, these locations are prime locations, as they boast of the presence of Nigeria’s high rise buildings, Nigeria’s most successful shops and companies, with their attendant management and senior staff, who invariably are Nigeria’s creme de la creme. These locations can also be regarded as Nigeria’s Jugular vein in commerce. They also presently boast of hosting the best Fast Food Restaurants in Lagos. We are already looking forward to a healthy competition between you and them. Another feature of these locations is that they can be accessed within 5-10minutes of each other. It is therefore usual to see people working in Victoria Island moving over to a restaurant in Ikoyi, or Lagos Island, and vice versa. [pic]DEMOGRAPHY OF POTENTIAL CONSUMERS: Age: Infant – 60 and above (some fast food restaurants have playing pens for infants) Sex: Male: Female (55%: 45%) Income: $300/year and above Usage Rate: Worst Case Scenario: 500 consumers/day Average Case Scenario: 1200 consumers/day Best Case Scenario: 2000 consumers/day With McDonald’s we expect figures to get as high as 1,500, 2,200 and 2,700 respectively. User Status: Ranges from first time users, Regular users and Occasional Users. For an average day in the 1ST year of operations: First Time Users: approx. 10% Regular Users: approx. 50% Occasional Users: approx. 40% Loyalty Status: Indifferent (None) 42% Medium: 35% Strong: 20% Absolute: 3% We are however confident that with McDonald’s, consumers can be pulled from the indifferent categories, to being strong and absolute consumers with McDonald’s. Occupation: Predominantly white collar workers, businessmen also form a sizable proportion of consumers. During weekends and evenings, the majority of consumers are whole families, couples, lovers etc. Educational Qualification: Secondary (High) school certificate holders to PHD holders. Religion: Predominantly Christian and liberal Muslims. This therefore means, a willingness/freedom to associate with people, including the opposite sex in public. Provisions for Takeaway snacks also allow the recluse patronize Fast Food Restaurants. Social Status: 80% of all classes of society BENEFITS: These are related to some kind of advantages looked for in patronizing any business. In the case of Fast Food Restaurants, the following parameters have been used to assess patronage: Economical Nature of Investment: Medium Rating Convenience: High Rating Prestige: High Rating Hangout Venue: High Rating LOCAL TRAFFIC PATTERNS: Lagos has a high traffic pattern. On a busy weekday afternoon in Lagos, traffic density is approx. 000 cars/sq. kilometers. [pic] CONCEPT DEVELOPMENT Concept development means making decisions about the components of the fast food restaurant concept, including theme, menu, service style, hours of operations. Since this feasibility is for the setting up of an already established name, its concept would basically be c entered upon what is presently obtainable. It is however important to make some recommendations, as the data from the population in the market area would help in evaluating a fast food restaurant’s concept that fits the area’s needs and preferences. Lagos Island and its sister island, Victoria Island, form what is called Lagos City or EKO. It is a city with a high rate of hustle and bustle. In some parts of this city, the lights never go out. It is a city in which 70 percent of its work force comes from smaller towns (3-70 kilometers) from within and outside Lagos State, on a daily basis. This scenario automatically creates needs in the minds of some migrants to Lagos City, which must be met, such as: 1. Where do we eat breakfast, considering that we might have to wake up very early so as to avoid the early morning rush, which results in traffic jams? 2. Where do we eat lunch, considering the fact the demands of work and the distance between workplace and home will prevent us from going home? 3. Where do we eat dinner, considering that we might need to allow the traffic jam caused by motorists leaving Lagos City, subside? Apart from these variables, fast food restaurants in Lagos play host to people who live in Lagos City, and also provide a conducive environment for businessmen. You read "Feasibility Report for a Fast Food Restaurant" in category "Essay examples" We would therefore recommend that hours of operation span from 6. 45am to 9. 45pm daily. [pic] SITE ANALYSIS Specifically, we would like to narrow down our site search to Akin Adesola Street, in Victoria Island. This road is directly linked to the bridge that connects Lagos Island at the Ikoyi and Old Ikoyi end of Lagos Island: a drive of less than 5 minutes. It is important to note that Old Ikoyi is the most expensive residential area in Lagos State, and it is followed closely by Victoria Island, which also houses the most expensive office apartments in Lagos State. What this means is that McDonald’s would be neighboring the rich and tasteful people resident in Lagos State. Akin Adesola Street, which spans about 1. 1Km is directly linked to the major streets in Victoria Island such as Ahmadu Bello way, Ozumba Mbadiwe, Adeyemo Alakija, Adeola Odeku, Sanusi Fafunwa, Karimu Kotun and Bishop Oluwole Streets. It traffic density is not too high as the road is dualised. At the other end of this street is the famous Bar beach; with Kuramo beach around the corner. McDonald’s would therefore benefit from people coming to the beach who require Take-away. The presence of the beach also guarantees a constant supply of fresh air. Presently, only one major fast food restaurant operator has an outlet on this major road. Around Victoria Island there are presently about six fast food restaurants and based on the potentials of this area of Lagos State it would be an understatement to say that that Akin Adesola Street, would comfortably house another restaurant, most especially the first McDonald’s restaurant in Nigeria. It is important to note that apart from Lagos City, other towns in Lagos State, such as Ikeja and Apapa can comfortably host a McDonald’s restaurant. [pic] COMPETITOR ANALYSIS Fast foods in Nigeria are as old as Nigeria itself. From the time of Nigeria’s independence fast food shops have been opened in the major towns of Nigeria. It was however not until 1986 that United African Company of Nigeria (UACN) in a diversification bid opened the first real fast food chain of restaurants in Nigeria. Since then a number of other operators have graced the fast food restaurant industry stage. Presently, it is one of the fastest growing sectors of the Nigerian economy and it would not be out of place to say that there is already a fast food craze in Nigeria, and this is just the beginning. In financial term, the fast food industry is approximately a $40 million dollar market, with over 83% of this market in Lagos State alone. In doing a proper competitor analysis, it will be appropriate to first identify the major competitors whose presence will bring out the best of McDonald’s. The major players are MR. Bigg’s (a fast food restaurant operated by UACN), Tantalizers, Tastees Fried Chicken, Sweet Sensations, Munchies, Favorites, Friends Eatery, Kas Chicken, Fingers (a fast food restaurant operated by United Trading Company), St. Elmo’s (a South African Franchise). For this analysis, only the three major fast food joints will be discussed. MR. BIGG’S This is a subsidiary of the big conglomerate, United African Company of Nigeria (UACN). It started operations in 1986, and is noted for being the first real operator of fast food restaurants in Nigeria. Presently, there are thirty-seven outlets spread all over Nigeria, with a massive twenty-two in Lagos State. Plans are on the ground to increase the total number of restaurants to fifty-seven by the end of the year. An estimated 1200 people visit an average Mr. Bigg’s outlet per day. STRENGHTS †¢ Biggest financial muscle †¢ Brand Name recognition †¢ Good Knowledge of the Nigerian market †¢ Complete support of the UACN conglomerate as it is rumored to be the only subsidiary presently making a profit †¢ Strong emphasis on family and catching the young †¢ Formation of alliances with companies providing complementary goods †¢ Good use of the electronic and print media †¢ Starts operations as early as 6. 5am, with the intention of attending to people who want a good meal breakfast before working hours commence WEAKNESSES †¢ Its strength fizzles out at the arrival of the other major fast food operators to the neighborhood †¢ It is pr esently not noted for its excellent food, as it places emphasis on its snacks †¢ The initial excitement that heralded its entrance to the market seems to have been lost, as there seems to be â€Å"an out of fashion†, cover on it with the presence of the new entrants. This feeling is however peculiar to Lagos, as the opening of any Mr. Bigg’s restaurant outside Lagos gives a feeling â€Å"at long last†, to the residents of these towns TANTALIZERS One of the most promising fast food restaurants in Nigeria. They began operations in the Festac area of Lagos State in 1995, and within the space of about six years have opened seven other outlets. The management of Tantalizers can be regarded as very aggressive marketers. Their marketing strategy seems to be directly aimed at their competitors. In the last four outlets they have opened, they have set up shops almost directly opposite or at best, a little close to their competitors in the process of drawing customers to their outlets. STRENGTHS: †¢ Effective Marketing Strategy †¢ Improving Brand Name Recognition †¢ Commendable Customer Service †¢ Vastly improving financial muscle †¢ Marketing emphasis is on catching couples and lovers WEAKNESS: Increasing complaint about the quality of their food †¢ Diversification into Africa Meals may be their undoing as they would be dividing their effort between the Fast food restaurant and the new African food restaurant †¢ There seems to be an emerging class distinctio n within the fast food industry, and the feeling is that Tantalizers falls within the middle class category. In other words, for serious minded businessmen and the upper-class, Tantalizers would naturally not come as their first choice of a fast food restaurant TASTEE FRIED CHICKEN It is one of the most promising fast food restaurants in Nigeria. It began operations in Surulere, Lagos State. It is attributed to be the second new generation fast food restaurant, after Mr. Bigg’s. At the time of this report they have only three restaurants. When one considers the time they have spent in the fast food industry in Nigeria, and the fact that they only have three restaurants to show for it, one would want to mistakenly write them off as underachievers. Doing this will however be at ones peril as they seem to be carving a niche among the business and upper classes. STRENGTHS: †¢ Improving Brand Name Recognition †¢ Commendable Customer Service †¢ High taste and consumer conducive environment †¢ Regarded as having the best food in the industry Marketing emphasis seems to be on, catching the business class WEAKNESS: †¢ Ineffective class distinction. Class distinction which they claim to be their marketing strategy for luring the business and upper classes, has not seen them charging higher prices for their service with the belief that consumers who value their products and service will be willing to pay for it. In other words, even though it may seem that they are providing better products and service, it has not accrued to relatively bigger profit, as it seems that their expenses are relatively higher than their competitors, while the profit, which should be proportional to expenditure, is lower. †¢ Marketing is not aggressive [pic] FINANCIAL STATEMENT Financial Analysis will be based on the demography of potential consumers of McDonald’s as arrived at in the demographic studies (USAGE RATE) on page 4 of this report. According to the survey carried out on existing fast food restaurants, Usage Rate: Worst Case Scenario: 500 consumers/day Average Case Scenario: 1,200 consumers/day Best Case Scenario: 2,000 consumers/day With McDonald’s we expect figures to get as high as 1,500, 2,200 and 2,700 respectively per restaurant. Using these figures, assuming an average consumer spends $1. 5/visit/day, expected income: For Worst Case Scenario: 1,500 X $1. 5 X 360 days per year = $810,000 per year For Average Case Scenario: 2,200 X $1. 5 X 360 days per year = $1,188,000 per year For Best Case Scenario: 2,700 X $1. 5 X 360 days per year = $1,458,000 per year In reality, consumers presently spend between $0. 4 – $5 per visit, making our estimated income analysis of $1. 50 per visit very conservative. CONCLUSION: The nature of this report has made us only able to do extensive work on areas such as Data Gathering, Concept Development and Site Analysis. It has only been able to peripherally touch areas such as Competitor Analysis and Financial Statement. A proper analysis on areas such as Competitor Analysis and Financial Statement which form an integral part of any Feasibility work, will only be possible if the company for which this report has been done and sent to, finds it necessary to commission us on a more extensive feasibility study. How to cite Feasibility Report for a Fast Food Restaurant, Essay examples

Essay on The Spiritual Growth of Lily Owens in The Secret Life of Bees Essay Example For Students

Essay on The Spiritual Growth of Lily Owens in The Secret Life of Bees Essay The Secret Life of Bees delineates an inspirational story in which the community, friendship and faith guide the human spirit to overcome anything. The story follows Lily Owens, a 14 year old girl who desperately wants to discover the cause of her mothers death. Her father T. Ray gives her no answers, which leads their maid, Rosaleen, to act as her guardian. Together, Lily and Rosaleen run away to Tiburon, South Carolina and find a welcoming community. It is in Tiburon that Lily learns many life lessons, including many about herself. In her novel The Secret Life of Bees, Sue Monk Kidd explores a theme of spiritual growth through Lilys search for home as well as a maternal figure.The bees symbolize Lily’s unspoken guides throughout the novel. Kidd’s constant reference to the bees indicate that Lily eventually understands the importance of female power in the bee community, which she connects to her own life. When Lily initially sees the bees in her room, Rosaleen warns her that they can sting her if she tries to catch them, but Lily ignores her and continues to trap them, thus asserting her determination. Later, the bees reveal the message to Lily that she should leave her father. Kidd notes that one bee landed on Lily’s state map that she kept tacked on the wall, foreshadowing Lily and Rosaleen’s journey to Tiburon (10). The bees also symbolize the secret life that Lily lives as she hides her secret of running away from home. The hive represents society while the bees represent all of the humans inside. August tells Lily about the hives and announces, â€Å"Most people don’t have any idea about all the complicated life going on inside a hive. Bees have a secret life we don’t know anything about† (Kidd 148). The beehive cannot sur. .614=2.1=land18748=r=LitRC=w=e367f8026fdb5ac19a609bfe31d5e3a4>.Ruth, Elizabeth. â€Å"The Secret Life of Bees Traces the Growth of Lily’s Social Consciousness.† Coming of Age in Sue Monk Kidd’s The Secret Life of Bees. Ed. Dedria Bryfonski. Detroit: Greenhaven, 2013. 63-65. Print. Social Issues in Literature. Rpt. of â€Å"Secret Life of Bees.† The Globe and Mail 2 Mar. 2002: n. pag.Scott, A. O. â€Å"A Golden Dollop of Motherly Comfort.† NY Times. N.p., n. d. Web. 1 May 2014. html?_r=0>.Zaleski, Jeff. â€Å"Review of The Secret Life of Bees.† Publishers Weekly 12 Nov. 2001: 33. Rpt. in Contemporary Literary Criticism. Detroit: Gale, 2009. N. pag. Literature Resource Center. Web. 9 Apr. 2014. 1=land18748=r=LitRC=w=775821cc9547f6a36eba16112748b201>.

Coke Vs. Pepsi Case Study Essays - Patent Medicines, Marketing

Coke Vs. Pepsi Case Study Control of market share is the key issue in this case study. The situation is both Coke and Pepsi are trying to gain market share in this beverage market, which is valued at over $30 billion a year (98). Just how is this done in such a competitive market is the underlying issue. The facts are that each company is coming up with new products and ideas in order to increase their market share. The creativity and effectiveness of each company's marketing strategy will ultimately determine the winner with respect to sales, profits, and customer loyalty (98). Not only are these two companies constructing new ways to sell Coke and Pepsi, but they are also thinking of ways in which to increase market share in other beverage categories. Although the goal of both companies are exactly the same, the two companies rely on somewhat different marketing strategies (98). Pepsi has always taken the lead in developing new products, but Coke soon learned their lesson and started to do the same. Coke hired marketing executives with good track records (98). Coke also implemented cross training of managers so it would be more difficult for cliques to form within the company (98). On the other hand, Pepsi has always taken more risks, acted rapidly, and was always developing new ad vertising ideas. Both companies have also relied on finding new markets, especially in foreign countries. In the foreign markets, Coke has been more successful than Pepsi. For example, in Eastern Europe, Pepsi has relied on a barter system that proved to fail. However, in certain countries that allow direct comparison, Pepsi has beat Coke. In foreign markets, both companies have followed the marketing concept by offering products that meet consumer needs (99) in order to gain market share. For instance, in certain countries, consumers wanted a soft drink that was low in sugar, yet did not have a diet taste or image (99). Pepsi responded by developing Pepsi Max. These companies in trying to capture market share have relied on the development of new products. In some cases the products have been successful. However, at other times the new products have failed. For Coke, changing their original formula and introducing it as ?New Coke? was a major failure. The new formula hurt Coke as consumers requested Classic Cokes' return. Pepsi has also had its share of failures. Some of their failures included: Pepsi Light, Pepsi Free, Pepsi AM, and Crystal Pepsi. One solution to increasing market share is to carefully follow consumer wants in each country. The next step is to take fast action to develop a product that meets the requirements for that particular region. Both companies cannot just sell one product; if they do they will not succeed. They have to always be creating and updating their marketing plans and products. The companies must be willing to accommodate their ?target markets?. Gaining market share occurs when a company stays one-step ahead of the competition by knowing what the consumer wants. My recommendation is to make sure the company is always doing market research. This way they are able to get as much feedback as possible from consumers. Next, analyze this data as fast as possible, and then develop the new product based upon this data. Once the product is developed, get it to the marketplace quickly. Time is a very critical factor. In my opinion, with all of these factors taken into consideration any company should give any company a good jump on market share.

8 things you dont have to do in your 20s

8 things you dont have to do in your 20s Most twentysomethings are constantly surrounded by the perfection presented on social media. Everyone seems to have the wildest nights out, the sweetest vacations, a beautiful family, and the most fulfilling job. It’s enough to make anyone feel lacking. But online life is not the same as real life- it paints a sanitized picture of the messiness of the twentysomething experience. Afraid that if you don’t have it â€Å"all figured out† yet? Don’t be. Here are a bunch of things you don’t even need to worry about until much later in your life and your career.1. Travel the worldSure, you’re supposed to have started your own successful company and figured out how to work remotely while traveling the world, all within 5 years of graduation. But travel costs money- and lots of it. Jetsetting off to Europe isn’t something most people in their 20s can do. If your buddies are able to, they’re very lucky. It’s completely normal if yo u need to spend all you make on, you know, rent and food.  If travel is a priority for you, you’ll make it happen one day. Don’t worry that you’re not there yet.2. Find your dream jobNobody really wants anything but their dream job, but most of us have to start somewhere- and that somewhere is usually the bottom rung of the ladder. If you’re still not where you want to end up, don’t fret. You still have most of your career ahead of you. And keep in mind that things will likely change once you have more world experience: what was once your dream career might not still be your dream career next year.3. Draft a long-term planIt’s helpful to always have a few thoughts as to your 5-, 10-, and 25-year plans. But please don’t set these in stone or feel that if you deviate from your track, you’re doomed to fail. You don’t have to have your career laid out or know where you’re going to settle down and buy a house in a go od school district. There is plenty of time for that.4. Start your own businessWe all hear so much chatter about entrepreneurship and striking out on your own in the new economy, but it’s okay if you don’t have a plan yet- or even if you would rather not be your own boss. If the thought appeals to you, keep weighing it in your mind, but don’t worry that you don’t yet have the answer.5. Figure out your future work/life balanceAs long as you’re taking care of yourself and have a reasonable work/life balance now, then it’s okay if you’re not sure how that will end up looking once you settle down and have kids and a family and move to your forever home and, yes, maybe, travel the world. You’ll figure that out when you get there.6. Determine your true passionYou’ve really only just started out. Your 20s should be a time of exploration! If you’re still figuring out what you really want to be when you grow up- as long as you’re thinking about it seriously- then it’s fine not to have the answers yet.7. Save a huge amount for retirementOf course, you should have a handle on your current budget, paying for your necessities, and socking at least a little bit away in savings. But don’t worry if your entire future and financial security isn’t mapped out perfectly. These things take time, and so much can change in the next five to ten years. Relax and focus on making smart financial decisions now so you’ll be in a good place for the future.8.  Establish the perfect lifeThere’s still time to learn how to cook gourmet dinners and buy a vacation home in the Hamptons. There’s still time to take up new hobbies and start a family. Keep dreaming about what you want the most and go after it. But don’t worry that you don’t have it all yet. You’re still very young!

Celebrating new year becomes pop-cultrual celebrity Essay

Celebrating new year becomes pop-cultrual celebrity - Essay Example New Year has now become a worldwide celebration with so much anticipation and expectations put in line to mark the day (Mercer, 26). People all around the world start counting down the New Year day before the clock ticks midnight. They will count all through the last sixty seconds and cheer when the New Year begins. People will tend to hug, jump and wish their friends a â€Å"Happy and prosperous New Year and sing along various songs designed for such a day. New Year is a historical celebration that has become a pop cultural celebration in almost all nations in the world that comprises of so many memories and resolutions taking place on this material day (Mercer, 44). This paper discusses how New Year has become a pop cultural celebration in the world through wide the influence from internet and social media. Celebrations of the New Year has not started recently, the first celebration is dated back to 2000 B.C in Mesopotamia (Mercer, 48). It was marked on mid-March and was celebrated during the time of the vernal equinox. Various ancient cultures also tied a varied of other dates to the seasons. The Egyptian, Persians and Phoenicians made history by celebrating the New Year eve with the fall equinox and on the other hand the Greeks decided to celebrate it during the winter solstice. As stated before, calendars used by various countries determine when the New Year celebrations take place. In the early Roman calendar, New Year was on March date one. Their calendar had just ten months with March being the first month. The calendar was not as the same with what is used today since some month like September and December were the seventh and tenth months respectively. It was during the first celebrations of New Year in Rome that the month of January joined the calendar. The month was not in existence until 700 B.C during the rule of Numa

The Eukaryotic cell structure Assignment Example | Topics and Well Written Essays - 500 words

The Eukaryotic cell structure - Assignment Example The size of mitochondrion is very small while it is much greater than that of ribosomes that appear like small granules either floating within the cytosol or associated with the endoplasmic reticulum. The number of mitochondria within a cell varies depending upon the cell type and the amount of energy required to perform their work, as there may be numerous mitochondria within muscular cells than that in nerve cells. Mitochondria are very small organelles. Moreover new mitochondria can be developed within the cell in case if the energy requirement of the cell remains unfulfilled with the already functioning mitochondria. Ribosomes are single membrane organelles while mitochondria in contrast to other organelles possess double layers. The external membrane serves as the protective covering of the organelle while the inner one is found in folded form. The folding of the internal membrane enhances the surface area within mitochondria as it serves as the site where various chemical react ions occur. This heightened surface area permits the mitochondria to perform as many tasks as possible. Such a similar strategy is adopted in the small intestines by microvilli. The folding of the mitochondria’s internal membrane is referred as cristae while the fluid within the mitochondria is known as matrix (Simon, Reece and Dickey, 2009). Ribosomes on the other hand are composed of proteins and RNA and basically perform the task of assembling cellular proteins. Similar to the mitochondria, their number also varies within as cell depending upon the cell’s production level of proteins. Ribosomes usually consist of two subunits amongst which one is larger while one is smaller in size. These subunits are prepared by the nucleolus and they connect together as a ribosome gets attached to mRNA (messenger Ribonucleic Acid) during the