The Twisted Root Burger Co. began as a dream of two men. Jason and Quincy. These two men through hard work and determination fulfilled their vision of creating a restaurant that consistently delivers a quality burger with exceptional service and atmosphere. They have watched their vision grow from their flagship that took shape in late 2005 located in the neighborhood of Deep Ellum in Dallas, Tx. Following the success of the location which included being featured on the FOOD CHANNEL, they have gone on to open a total of 17 locations to date. The desire to expand and share their vision has remained strong and is one of the reasons why these two men are always happy to take on investors and utilize franchise rights to help grow their brand. …show more content…
is first and foremost a restaurant that specializes in burgers, both traditional and non-traditional. The restaurant industry in general is a highly competitive environment in which success usually depends on how a business can differentiate and capitalize on that differentiation. The Twisted Root Burger Co. has such a differentiation and considering the demographics of the proposed area for the business, it is expected to catch on rather quickly. Venison, elk, lamb, ostrich, kangaroo, emu, boar, and alligator in the form of a burger patty would be a very welcomed change to the fast food industry in Saigon/Ho Chi Minh City and a wonderful option to have for the community in general that we are looking to locate ourselves within. This selection alone is enough to differentiate us from the competition. Our businesses atmosphere and theme along with the various other menu items will also be quite appealing as a way to separate ourselves from any would be …show more content…
We have mentioned a few already such as population growth rate, age distribution, and attitude towards imported products. As a whole, the country spent an average of about 42 million towards the food industry. This shows that there is plenty of money spent in the food industry considering that the average income of the country is about 167 million, almost 1/3 of the gross income is spent towards food. To go along with food expenditure the disposable income of the country is near 140 million. The average spent per meal in an up class restaurant in Vietnam is between 15-30 dollars USD, this is around where our product would be priced. The biggest factor would be the average amount of money available per social class, the higher the class the more disposable income for food and leisure. Even though as we mentioned that poverty has dropped dramatically and is now below 3% this does not necessary correlate to exposable income for food. The youth of Vietnam come into play here as they are very open to change and competition in economic terms. The planned opening of the business in the southern region of Vietnam is also a boon in the sense that the southern half of Vietnam has been pro-western since the Vietnam conflict. With the youth of Saigon/Ho Chi Minh City being under a higher influence
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Relying on our strong company legacy that is been in place since 1968, I believe that we can use that strategically to improve our overall marketing strategy and help achieve our overall goal of continued franchise expansion throughout the country. One of the most effective ways to capitalize on our company legacy and reputation is through product placement and advertising. I predict that our overall marketing strategy for developing products will be small at first. Any initial product placement will be on things like napkins, aprons and other apparel. You also investigate creating our own unique company logo. This will help to increase our brand recognition. Also, we can create our own website and have an interactive menu that allows our customers to order our products online and have them be ready for pickup at the restaurant location. After some initial trial and error, we can consider expanding our product line of items that have more prosper
Vietnam had no prosperous period before its independence in 1945. Since then Vietnam’s development path can be divided into three periods. The first period runs from 1945 to 1975 and was a period in which Vietnam was a major battleground of the Cold War with two Indochina wars. The First Indochina War (1946-1954) was between France, supported by the USA and its allies, and the communist force known as Viet Minh supported by China and the Soviet Union. The Second Indochina War was from 1954-1975. The USA and other members of the Southeast Asia Treaty Organization (SEATO) combined with the forces of the Republic of Vietnam (the South) to fight against the army of the Democratic Republic of Vietnam (the North), which was de facto supported by the Soviet Union and China. During this period, both market economy and central planning economic models were imported and mechanically applied in Vietnam. Neither model generated the expected results however, partly due to the two wars, a lack of necessary conditions for growth, and the general failure of the economic models adopted. As a result, real GDP per capita increased just 2.9 times (or 4.8% per year) over the period 1955-1973 (the peak year before the war’s end), with real GDP per capita increasing by just 64 percent (or 2.8 percent per year) (Tran et al. 2000).
Burger king (BK), is a worldwide chain fast food restaurant which sells mainly hamburgers. It started in 1953 in Florida with the name Insta-Burger King however the company ran into financial difficulties and was bought and renamed Burger King. Burger King have a total of 34,248 employees that have been recruited.
Today, McDonald’s has become synonymous with American fast food, but it started with one man: Raymond Albert Kroc. Better known as Ray Kroc, he is regarded as one of the most successful and influential entrepreneurs in the twentieth century. In his autobiography Grinding It Out, Kroc carefully recounts the birth of his famous restaurant. Beginning with a crucial encounter with Dick and Mac McDonald, Kroc catalyzed the expansion of a small, unremarkable restaurant in San Bernardino, California into America’s most prominent fast food restaurant. With the success of McDonald’s, he propelled the American food and restaurant culture into a new era of reliable service while upholding the quintessential American values of perseverance and innovation.
Puthnam J.J. and Allshore J.E. (1999). Food consumption prices and expenditures, 1970-1997. Food and Rural EACONOMIC Division, Economic Research Service, USDA Statiscal Bulletin 965
The fast food industry is impacted by factors as tax, interest rates, exchange rates, and labor market. During a recession, unemployment and high gas prices factor in to consumer spending on food. The industry receives a majority of its revenue from foreign markets. The profits are converted to U.S dollar. The exchange rate plays a major role if the dollar appreciates against other currencies. For example, if the dollar appreciates higher than the euro, then the industry profits will decrease due to the exchange rate. Domestically, fast food chains are expected to increase at a rate of 1.7% per year (Zwolak, 2010). New entrants forecasted to grow at a rate of 1.3% (Zwolak, 2010). For the most part, fast food chains will be opening new restaurants faster than new entrants coming into the
The target market for in-n-out burger is young children, university students and especially people on the move. The major difference between in-n-out burger and their competitors is the globalisation of their rival companies. In-n-out burger needs to expand on an international scale and Dubai is the perfect place to begin. The Dubai economy enjoys a competitive combination of cost, market and environmental advantages that create an ideal and attractive investment climate for local and expatriate businesses alike. Companies can benefit through outsourcing and off-shorin...
Burger King is an American fast food chain that was founded in nineteen fifty-three as instaBurger King. It was originally founded by Keith J. Kramer and Matthew Burns. After running into some financial problems along the way InstaBurger was no more. In nineteen Fifty-Four David Edgerton and James McLamore purchased the company and renamed it “Burger King”. Over the next couple of years ownerships were changed a couple of times to make sure the company was running at its absolute best. Its headquarters are currently located at 5505 Blue Lagoon Drive, Miami-Dade county, Florida, United States. The nineteen seventies were considered the best time for Burger Kings advertising, using short commercials displaying their food that just looked to eat
The final people that we are trying to advertise to is to teachers, because they do not have the time or money to go out and eat and spend on expensive foods. Our business would facilitate their time and would help teachers have more time to work with
There is a common factor between these two companies and this factor is that these two companies have begun creativity and introduce new products to customers were not found previously, but this creativity stopped for a period of time and then knew how to regain their creativity (Herring, 2011).