My business plan should be to open a franchise of little Caesars in Knutson Heights, A queen NY. First let's consider the fast food market as a whole. Great the market
The concept of take out is encouraged by ancient Rome, in which bread and wine were sold in street-side stalls. In early 20th hundred years In the United States, take out history is associated with the introduction of drive-in restaurants. Since that time, US market of take out has come a considerable ways to become the biggest fast food industry in the world. One of many pioneers of this field is White Fortress, was founded in Kansas, in 1921, one of the main names in terms of the American fast food sector. In 1930's, the American fast food sector achieved just one more milestone - when Howard Johnson's released the concept of franchising restaurants in the us. NAICS Code and industry Description
According to NAICS Junk food restaurant 722211, " The restaurant market comprises companies primarily engaged in providing meals services (except snack and nonalcoholic beverage bars) in which patrons generally order or select products and pay prior to eating. Food and drink may be consumed on property, taken out, or delivered to the customer's position. Some establishments in this sector may provide these meals services in combination with selling alcoholic beveragesвЂќ. (Census) Growth of Sector
Since 1982, consumers starting spent even more on fast food as compare to table support restaurant, in respect to statistics this gross annual growth price turns into 6th. 8% as compare to some. 7% development rate through 1997. This kind of amount increased from up to 29. 3 to 34. 2 % among 1982 and 1997, while the restaurant amount decreased from 41 to 35. several percent. As per a research of " US Fast Food Market Outlook 2010вЂќ, despite the growing concerns including rising well being consciousness and increasing cases of obesity in the US inhabitants the US fast food industry continues to be witnessing amazing growth for the past few years. This research demonstrates during the monetary down show up it was the only industry that benefited as people have changed their foodstuff habits from spending more cash on dinning outside in restaurants to fast food items. It was expected that the fast food market will certainly grow in a CAGR of around 5% during 2009-2011.. (Mark)
According to the restaurant association this year sales of restaurant market are $580 billion; these kinds of restaurants are located over 945, 000 locations, having 12. 7 , 000, 000 employees (one of the major private-sector employers) across United States of America. Here are some more facts about cafe industry: * $1. 6 billion: Restaurant-industry sales over a typical day in 2010. * $2, 698: Average household expenditure for food away from home in 2008. * 40 percent of adults acknowledge that purchasing meals from restaurants and take-out and delivery places makes them even more productive in their day-to-day life. * 73 percent of adults state they try to eat more healthy now by restaurants than they did two years ago. 5. 57 percent of adults say they are very likely to make a restaurant decision based on how very much a cafe supports charity activities and the local community. 5. 78 percent of adults say they wish to receive cafe gift cards or perhaps certificates upon gift situations. * 52 percent of adults say they would be more likely to patronize a cafe if it offered a customer loyalty and incentive program. 5. 57 percent of adults say they are more likely to make a restaurant choice based on how very much a cafe supports charitable activities as well as the local community. 5. 56 percent of adults say they are very likely to visit a cafe that offers foodstuff grown or perhaps raised in an organic or environmentally friendly way. * 79 percent of adults consent that going to a restaurant with relatives or close friends gives these people an opportunity to socialize and is a better way to make use of their leisure time than cooking and cleaning up. (National restaurant association-1) In...