Fine Dining Restaurants Decline in Sales

The Catering Services industry has struggled during the past five years. Since 2008-09, a severe economic downturn has led businesses and households to spend less on catered events. Businesses faced with plunging profitability cut back sharply on catered events such as office parties, corporate seminars and product launches, and reduced average spend per head for events that did go ahead. The deteriorating consumer climate led consumers to put off discretionary events and choose to cater events themselves or spend less at a restaurant rather than use the industry 's services.

The study begins by explaining how much the residents of Gourmand love good food. They love food so much that that over time, a commission of distinguished chefs had decided that not any one should be capable of opening up a restaurant. If a restaurant was to be open, a chef would have to have 21 years of training, attend a prestigious school, and obtain a license to become a chef. These guidelines would ensure that when a resident would go to a restaurant, the food would be good. The first-class quality of food consequently rose the prices of restaurant meals to become very expensive.

From a personal experience of working in a restaurant located in a touristy town, I found these fluctuations in business to be a reality. I worked in a restaurant in Williamstown, Massachusetts, which gets very busy in the summer due to a renowned theater festival. During the summer, the restaurant was completely

This paper will introduce a product and service which operates in the U.S. with the intent to expand within foreign markets eventually. The service that I chose is a current service in the food service industry that does exist but would benefit from enhancing it; there are market trends for the new service that would definitely satisfy potential customers’ needs and wants once the idea is brought to their attention. The goal is to bring the feel of the city’s fine dining and lounging experience to areas outside the city without having to travel far or spend more. The service is an

Although the restaurant industry is perceived to have high risk of failure, the risk of a restaurant failing is not too different from other small businesses. Parsa et al. quantified the risk of failure at 26% in the first year and 57% by year 3. He also described several factors that can influence the risk of failure. Those include physical location, firm size, speed of growth, differentiation from other restaurants in the market, adapting to external trends, and management experience. In terms of location and differentiation, Paul’s bar will be located in a new development designed to attract affluent customers and with very few competitors. Paul’s small firm size increases risk because of barriers to attract partners (i.e. suppliers and bankers are prejudiced against smaller firms) and growth that may be too rapid to manage. On the other hand, Robert already has experience in the restaurant business and should know how to run the bar and subsequent restaurant. Their choice of a piano bar may be in response to local trends that favor success.

The main purpose of this research study is to come up with a strong analysis on the performance level the restaurant. The following objectives have been brought forward with regard to this purpose.

There are many key aspects to owning and operating a successful restaurant in a competitive market with little or no room for error. A restaurant’s

The restaurant industry has been booming since the 90’s to now. With over 600,000 restaurants in the United States alone, and about 14.4 million employees

Restaurants are considered a luxury product, not necessarily a necessity. This industry thrives when the economy is growing and people have disposable income, however a decline in the economy would undoubtedly cause much stress and worry among restaurant

Nevertheless, the majority of customers are very satisfied with the amount of serving along with the quality of their meal as well as the price paid. The strategy of being a low priced high value added has seen problems due to lack of customers which is affecting the bottom line drastically. This inevitable circumstance has put a hold on operations and started an investigation upon various neighboring competitors and their own strategies.

The entrepreneur that I interviewed was Lydia Patterson. In 1989, Lydia and her husband, Lou, decided to start planning to open up a new Italian restaurant in Virginia. The restaurant industry, especially in the Washington DC area is very competitive. It is highly competitive with respect to price, value and promotions, service, location, and food quality.  There are a substantial number of restaurant operations that compete for customer traffic, some of which have significantly greater resources to aggressively market to consumers, which could result in losing market share.  Consumers are highly focused on value and if other restaurants are able to promote and deliver a higher degree of value, guest traffic levels

The research will examine aspect of fine dining industry in Singapore. I will be assessing the competitive strategy of western fine dining restaurant in term of retaining existence customer and attracting new one. In order to identify retaining successful customer I will undertake survey in term of customer satisfaction and willing to pay. I will also interview restaurant’s managers who handle strategy and execution in order to develop attracting new customer. Last I will conclude with a good strategy would help a restaurant

Great food, high-traffic location, and super decor -- all are important to the restaurant business. If you take a close look at what

The California Pizza Kitchen has 88 restaurants in California alone, which makes it vulnerable to negative economic conditions in California. The California Pizza Kitchen needs to satisfy a number of conditions like credit worthiness, if it continues with its current credit facility along with the likelihood of additional financing. The company does not have direct control over its franchising and licensing partners who contribute to the profits and royalties, and therefore, it affects their profits. Existing economic conditions makes it difficult for the company to pursue its growth plans of expansion. (California pizza kitchen 2009 annual report) 2010).

The paper presents an analysis of the different factors influencing the restaurant industry and how these factors increase or decrease the demand for such services. The hypothesis that will be examined is that the performance of restaurants is mostly based on the type of food chosen by customers when they decide to go out for dinner, lunch, breakfast, or simply for a snack. What type of food refers mainly the nationality or concept of the food, (traditional American, Italian, Indian, Latin, or from any other type of culture). This factor is important because when customers go out to for dinner; they decide what to eat before deciding where to eat. That is why this factor is considerably important according to the hypothesis.