Presented by: Greg McNally + Michael Santos Creating a Concept Presented by: Greg McNally + Michael Santos

What goes into creating a successful restaurant concept? What is your theme or concept going to be? Identify factors to consider when developing a restaurant’s concept Location Location is EVERYTHING! Identify factors when choosing a restaurant location What will be the guest experience? Design, layout, menu What is the menu theme + flow? Does the price point match the location and target markets?

What style of cuisine will you be serving? What types of cuisine will you offer? Mexican Japanese French German American BBQ Seafood Sandwiches Vegetarian/Vegan Bakery Steakhouse

Market Research Definition: the organized effort to gather information about markets or customers to gain insight and support decision making for success. How Market Research will help you find: Demographics – social stats on the population Geographic – where people are Product usage – what people like Lifestyle – attitudes and tastes on the population

How are you going to market your restaurant? Effectively communicate to your target market so they’ll respond Create differentiation Product Physical appearance Service Location Image What are some examples of marketing that you’ve seen?

SWOT is Key to Success! What is a SWOT Analysis? Strengths Weaknesses Opportunities Threats Strengths and weaknesses are often internal to your organization, while opportunities and threats generally relate to external factors.

Strengths What advantages does your organization have? What do you do better than anyone else? What unique or lowest-cost resources can you draw upon that others can't? What do people in your market see as your strengths? What factors mean that you "get the sale"?

Weaknesses What could you improve? What should you avoid? What are people in your market likely to see as weaknesses? What factors lose you sales?

Opportunities What good opportunities can you spot? What interesting trends are you aware of?

Threats What obstacles do you face? What are your competitors doing? Are quality standards or specifications for your job, products or services changing? Is changing technology threatening your position? Could any of your weaknesses seriously threaten your business?

Now it’s your turn! Break into groups of 5 people Based on the restaurant concept your team draws out of a hat, determine: A restaurant name A mission statement 2 signature menu items 2 marketing tactics Create a SWOT analysis Strengths Weakness Opportunities Threats

Questions?