Business Proposal for a Restaurant Research Example | Topics and Well Written Essays - 1500 words

Business for a Restaurant - Research Proposal Example One of the goals that the business seeks to achieve its expansion in the next two to four years. Additional services like accommodation will be available to the customers. When a new restaurant enters the market, it is expected to make enough profit that can finance the anticipated expansion. The restaurant will, therefore, implement efficient business management strategies. Tactical business spending will be the order of the day in this proposed business venture. A sole proprietor will own the business. The entrepreneur has chosen this ownership because of its simplicity. There is no sharing of all the profits from the business. The profits could then be used to expand the business rapidly. It is also easy to change the legal structure of the business. If the business expands, it can run as a limited liability company. The business will be located in the surroundings of Detroit City because it has a large client base. Some of the potential customers who already exist in the city inc lude youths working in different businesses, college students, and middle-aged people. Majority of these potential customers do not have enough time to cook for themselves during the day. These potential customers are willing to spend money on snacks, fast food, ethnic food, and comfort food. There is a challenge of price sensitivity among the potential customers. When food prices go up, they tend to prefer cooking for themselves rather than buying from restaurants. The typical customers targeted are people aged 20 to 49 years.