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Five guys in Ireland economy history
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FRANCHISING IN IRELAND - SHOULD FIVE GUYS GO IRISH?
Making a decision on products and countries seemed daunting at first. Brainstorming with associates and friends to find that perfect idea that held my interest seemed impossible. Several ideas were discussed and brainstormed, however, when thinking about restaurants and franchises the first idea was born. Five Guys Hamburgers and Fries seems the perfect fit for Ireland and there began my journey.
From about 1995 to 2007, Ireland developed a very rapid economic growth called the Celtic Tiger, going from one of the poorest countries to one of the wealthiest. The Irish had a low corporate tax rate, borrowed money from the European Union and invested these funds in education. These and other factors attracted major companies such as Dell and Microsoft, and these companies were encouraged to locate to Ireland. These companies found that lower employee wages, low taxes, and membership in the European Union were all factors to be considered in deciding to move to Ireland. Ireland also has a state run agency that encourages start up businesses by providing financial, technical and social support. In 2008-09 Ireland entered a recession - the first in over 10 years.
As Ireland faced this major economic crisis, as did several other countries , the Irish unemployment rate increased to 8% in 2008, and the housing market went from 14-16% in 2006 to approximately 5% in 2009. By April 2010, unemployment was 13.4%. The Irish government has taken across the board cuts in spending and in 2009 budgets including wage reduction for all public servants. Also, in 2009 the Irish government established NAMA - The National Association Management Agency. This agency acquires property and...
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...ket research would be needed to further investigate the opportunity and feasibility of opening a Five Guys Burger and Fries in another country. The Five Guys concept of advertising where the potatoes come from would be a great advertising hook in Ireland, not to mention serving the fries in paper bags. Hopefully, using fresh potatoes from the Irish countryside would be appealing to the Irish, instead of frozen French fries many fast food restaurants use. If I had several million dollars and an Irish business partner, I would love to invest in opening Five Guys Hamburger and Fries restaurants in Dublin, Ireland and I think it might just give McDonald's and Burger King some competition. I would also want to explore and investigate Irish liquor licenses and whether liquor (beer and wine) could be served and be allowed in a Five Guys Hamburgers by the Franchisor.
The force that brought Irish immigrants can be described in two ways, both negative in the way of the Famine Years and the control of Protestant England. On the other hand, Irish immigrants were able to use the United States as a chance for economic opportunities as well as a chance to be free to practice their Catholic faith. The economic events that helped fulfill the need for Irish workers were thanks to the Industrial growth of the United States. The Transcontinental Railroad was completed by the continuous harsh labor that was done by Irish immigrants. The Eastern half was largely built by Irish men that were hired by the Union Pacific Railroad Company. The chance to make a life and put some money in their pockets was an attractive situation for struggling Irish immigrants. The inevitable factor for Irish immigrants to leave their homeland was the effects of famine that was occurring among the rural population of Ireland. Ireland depended heavily on potato crops, but as the crops failed they diminished the hopes of surviva...
McDonald’s is all over the world, and with this advantage they have been smart to relate to what is considered a norm in the respectable nation they work in. “In this era of globalization, it is becoming increasingly important for businesses to leverage their brand equities across geographic boundaries” (Harish 22). McDonald’s does a great job by displaying them in different countries for their consumers because of the mission each McDonald’s is always to strive in their business for: Quality, Service, Convenience, and Value. McDonald’s is such a powerful company in the fast food industry that the China Puzzle reported that “In Hong Kong, 72 percent of people visit McDonalds, on average once a week” (China Puzzle 639). The article explained that this is McDonald’s most “penetrated and mature markets in the world.” The reason why that number is so high for McDonald’s is because the core targets young adults who look to be “cool” and stay up to date with all the big trends such as the Chicken Nuggets with different sauces in a random
Demand for Panera franchising opportunities was very high, which allowed Panera to be picky about where and with whom they would do business. Panera determined where bakery-café locations could be. The franchisees bore the cost of opening new locations, and were required to obtain their ingredients from the home company. Expansion using the franchise model provided many upside benefits for Panera, while limiting the downside r...
Secondly, it is also relatively important to construct value recommendations which include equally, the right mix of international and regional product characteristics to address national and international market division. For the same, Yum! Brands has drafted Pizza Hut and KFC new menus which include both International and Regional Components especially for China, YUM’s biggest foreign market.
The aforementioned criteria were used to determine the ten most viable countries/regions for Krispy Kreme's international expansion. The list of countries/regions, presented in descending order, with especially attractive characteristics denoted adjacent to the apposite country, is presented in Table 1 on the following page.
These are very exciting times for our country, we are now part of the largest economic community the world has ever seen, opening the doors of opportunity for us, the Irish citizens, everywhere we look. Ireland's membership of the EU is seen by most to be of great benefit to the country as it will solidify the foundations of our economy as well as increase the awareness of Ireland as an investment opportunity for multi national companies; however, some will argue that the change would be detrimental to our nation in the long run.
KFC is one of the most popular fast-food restaurant chains by the Yum! Brands and fried chicken is what the company specializes. KFC was founded by Harland Sanders, which was later known as Colonel Sanders. Moreover, KFC was one of the first fast-food restaurant chains to expand internationally, including the opening outlets in Beijing, China, in November 1987 (KFC Website, 2013). The fact that KFC was the first Western fast food company in China makes it very challenging to satisfy the Chinese market. Trying to sell the same products or services is a typical approach to most foreign expansion for franchise businesses (Bell, 2011). However, one-size fits all approach is not what KFC chooses to apply for their company. According to Shelman, the writer of the case study regarding KFC’s Explosive Growth in China, key success for KFC China is to change the menu to suit Chinese tastes and style of eating (Starvish, 2011). “One of the lessons I take away from this case is that to ...
This particular case is about the implementation of the popular fast-food chain, Burger King, into the Japanese market. Despite its’ strong market position in other countries, Burger King has some difficulties to face within the Japanese market. In this report, my team and I will analyze Burger King’s current situation and problems and suggest alternatives.
Understanding the basic agreements and variable in the franchising process of a McDonald’s restaurant helps to shed light onto how the company has become such a global power in the food ser...
Towards the end of the 1990’s, the Irish economy was booming, unemployment rate fell to around 4% and productivity was continuingly to grow. However, from 2002 onwards, the nature of the boom started to alternate. Labour output was no longer increasing, inflation was excessive and progression in gross domestic product (GDP) increasingly became related to the housing market. By 2006, although the public finances still seemed strong, this was misleading; the Irish economy was heavily dependent on the housing boom. The covered banks accounted for over 65% of the overall growth in property- related lending in Ireland (including 100% mortgages and tracker mortgages) and over lending to developers in Ireland, further highlighting the bankers’ greed.
Franchising is a suitable strategy for Gourmet burger fuel entering into china. But it necessary to educate them about it because the Chinese people does not like to work that company if they do not know. So, the meeting should be arrange more times with them and make them knowledgeable through intermediaries. Because the Chinese people prefer to use intermediary. The sample material necessary to show them before go in to the China market. In the beginning, either Shanghai (23.9M people, 2013) or Beijing (21.2M people 2013) / Guangzhou (14M people in 2013) are suitable for the burger fuel to go in China because those cities are highly populated, raising income, developed and rapidly urbanization, young labour force and so on.
An evaluation of the restaurant’s strengths, weaknesses, opportunities and threats served as the foundation for this marketing plan. The plan focuses on the restaurants marketing strategy, suggesting ways in which it can build on new customer relationships, and development of new food products and targeted to specific customer groups.
Ronayne, T. 2004. Regions Without Work: Unemployment and Labour Market Policy in Ireland. [Online] Available from: http://www.wrc.ie/publications/regionsw.pdf [Accessed 7th May 2012]
The first step in any business is to think of or create a business idea. Without an idea, one cannot launch their business off the ground. A right direction is needed to create a business with a unique idea. However, other options include franchising or buying an existing business (1). Franchising allows an individual to run stores such as Burger King or McDonalds under the corporate name. It involves taking training classes and a heap of money in order to start a franchise. A Franchisee will have to buy products and services from the corporate entity they are franchising from, which is often required. Buying a franchise is like taking a piece of the pie from the company that is franchising and sharing that pie with everybody else. In addition having a franchise allows one to communicate and in essence become a big part of an added business opportunity (4). Franchising is far from easy to start and maintain for that matter. Starting a franchise involves a l...
By choosing to expand into markets later than other fast food restaurants Burger King hopes to avoid the problems of developing infrastructure and establishing a market base. For instance, by following McDonalds into Brazil, Burger King avoided the need to develop the infrastructure and mark...