It is not easy to enter the restaurant industry, however when a restaurant is able to survive the initial few years after its establishment, it needs to be spectacular in order to be able to attract and retain the attention of its customers and clientele while making a mark for itself. For this two strategies are available. One pertains to catering to a broad market and providing a variety of foods.
On the other hand the second strategy pertains to creating a niche market for the restaurant by creating the required theme around the restaurant and its food for providing the customers and clientele with a customized and differentiated experience. The restaurant industry is part of the hospitality and service industry; therefore it is crucial to acknowledge that quality is presentation, service as well as in the management of the restaurant is very important. In the restaurant industry “staff costs are significant, as success in the restaurant industry is strongly influenced by the quality of the service provided. The leading companies have focused on expansion through acquisition or franchising in recent years rather than building new outlets, which are more costly, e.g. a majority of McDonald’s restaurants are operated by franchisees.” (Global Restaurants Industry Profile’ 2008)
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