Small Business in Dining Industy
Essay Preview: Small Business in Dining Industy
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There is no denying that the Chinese food is one of the best foods in the world, and as the rapid growth of global population, the demand for people to enjoy a better quality food rather than just for the physiological needs are increasing significantly, and the “Food and beverage” industry have less risk comparing to Financial sector or Banking sector, which have a high cash flow or inventory turnover rate.
So my initial business plan is to start an”All-Chinese Cuisine” restaurant in Toronto focusing on providing the best quality Chinese food which would taste the same as in mainland China to help customers experiencing the home-feeling again outside their hometown.
The primary target customers are those immigrants from China to Canada who missing the hometown taste food which could help them to ease the homesickness and being happy at abroad.
The Statistics Canada shows that there are 1.3 million new immigrants are from China in the year of 2006 and the estimate number will increase to 2.7 million in year 2031, amount which “Toronto” is the first choice that accounts for 5.8 million in the year 2010, so it may be a great opportunity to launch a higher-level Chinese cuisine restaurant.
The secondary target group would be Non-Chinese people who ever heard about how delicious the Chinese food are and will to try.
According to the Cultural background of Toronto, there are so many different races from all over the world, such as Mexican, Indian, Filipino, African and even the local people, they may tired of having the food form their own country and wishing to try something new.Which I may attract them to be my potential customers.