MAJOR�S STEAKHOUSE

Market analysis the type of restaurant is in the name

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Training is the most important thing you can do to employees. Market Analysis The type of restaurant is in the name. It is a steakhouse, however, we serve all sorts of food. This can either help me or hurt me. Some people may think oh a steakhouse, I want something besides steak, or my children don’t like steak. Some might say I love steak and I want steak now. My restaurant really is a variety. It ranges from steak, chicken, fish, pasta, pizzas and salads. I am trying to bring in anyone I can get. I want all the surrounding towns to want to come in and eat at my restaurant. Having a variety will help me in the market. If I specialize in every kind of food, someone might pick my restaurant over a pizza joint. We sell pizza at the restaurant, but if someone wants a steak or chicken, we have that too. Some restaurants specialize in one thing. This would be
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like Red Lobster. If someone is craving seafood, that is the place to go. My family loves seafood, but I don’t really care for it. This puts a damper in the situation when we want to go out to eat because if someone doesn’t like it, a new restaurant is usually chosen. If the restaurant has all sorts of food, this takes the damper off. I also have cheap enough prices all kinds of people can afford my food. Of course I have to be able to make a profit, which I do, but most people can afford it. This helps me because if someone is trying to decide between a fast food restaurant and my restaurant, with the prices cheap enough, they might pick my restaurant over the fast food restaurant. So when the question is asked, who my target market is, I think it is right to say everyone around the area of Oskaloosa, Iowa. Competition Analysis Each restaurant is going to have a competition. It depends on what the size of the town is and what the restaurant has to offer. No one wants to go to a restaurant that is dirty and has rude service. In a smaller town, it might be one of the few, but it is competing with not only the restaurants in the town, but the surrounding town as well. In the small town of Oskaloosa, my biggest competition would be Peppertree and Salami’s. They both have a variety of food, which helps them in the competition. In order for me to “out do them”, I will need to have some food that they don’t at the prices they can’t touch. This is exactly what I plan on doing. I also will have specials each day during lunch, which will change each week so the other restaurants can’t steal what I am making. They can steal my idea, but they don’t have the same homemade foods as I do. They both have easy access from the car and easy to get to. Since mine is around the square, the parking isn’t as great as theirs, which is a parking lot, but if you walk down the block, there are
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two parking lots you can park in to get to my restaurant. Their parking lots are right outside the front door of their restaurant, which helps them out. One has higher prices than the other, and the other has less of a variety. These both help me out because the one
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