Vegetarian middle eastern restaurant
Introduction
For a long time, restaurants serving vegan food have been rare and introducing one in the market would be a good business opportunity since this market is not well served. Most vegans have been known to prefer traditional middle eastern dishes therefore, opening a restaurant serving those dishes is an even greater opportunity. For this business to run effectively a well-equipped kitchen is needed, chefs with interest and knowledge in middle eastern dishes to help in formulating of new recipe. The location has to be where many people have access to. A constant supply of groceries and ingredients used to make this foods is needed ensure there are no shortages. Proper budgeting has to be done and the business requires a good management team.
The target market of this restaurant includes all people who are vegetarians by choice and those who have been forced by health conditions to be vegetarians these people can be children, male and female and all may prefer different meals. For someone with a high risk of diabetes it is advisable to start eating foods that will not affect their health therefore middle eastern vegan diets are advisable (Lorette, n.d). Children have been known to enjoy middle eastern dishes such as tabbouleh and to accommodate them such dishes will have to be included in the menu (Fayed, nd). The vegetarian market of middle eastern food is a wide market that has not been well served and cuts across all gender and age. These diets are also recommendable for people who want healthy life styles and in order to broaden the market the dishes must be able to be afforded by people from all social classes.
There are many other existing restaurants serving middle eastern dishes therefore, this business will be coming to compete with other already established restaurants. In order to deal with competition chefs will come up with recipes that are rarely served in order to attract vegetarians to try other meal. These meals have only been afforded buy people from on social class, due to their high prices. Its my aim to make simple recipes of middle eastern meals to accommodate people from all social classes (Fayed, n.d). It is my aspiration that my business outdo the other businesses already existing in the market and the only way it can do this is by broadening its market to accommodate every vegetarian and also introducing new recipes still in the field of vegetables middle eastern dishes.
When starting the business there are many tactics to be put in place in order to attract customers. Sampling the food to potential customers and asking for their opinion. These customers are more likely to come back to buy the dishes if they are made to their preferences (Lorette, n.d). This is one tactic of attracting customers. Posting about our business on online platforms is also likely to attract curious customers to come and tryout our dishes. Adverts on televisions and radios informing people about the new restaurant, its dishes and its location will also help to attract customers.
In order to serve a large market door to door delivery to areas that are not very far from the restaurant will be done but for the sake of profitability door to door delivery to distant areas will be charged. This restaurant will deal with only vegetarian foods from middle eastern. Cooking ingredients will be bought from groceries, supermarkets and some ingredients will have to be bought from farms directly when they are fresh (Lorette, n.d). This restaurant will help to broaden the choices of vegetarians’, it will also serve them with rare dishes from the middle Eastern that are not commonly available in the market. The methods of payments will be broad in order to accommodate everyone ranging from, credit cards to cash payments.
Competition from already existing businesses is a challenge since this business are well known and are already serving a great part of the market. Some of the foods that will be served in this restaurant are already being served in those other middle eastern restaurants therefore, attracting those same customers will be a challenge. Direct competition is greater than indirect competition. Most of the middle eastern dishes have already been modified in many ways and the new dishes are in the market. We plan to introduce these same dishes in the market without changing them and then introduce other new recipes for the sake of attracting customers. Dealing with this competition is a challenge that threatens the existence and continuity of the restaurants (Alter, n.d). With good customers attracting methods, the business is likely to prevail in the market and establish itself. Below is a competitive matrix that is likely to help the new restaurant deal with existing competition. The matrix is ranked using a scale ranging from 1-5.
|
Factors |
My restaurant |
Direct competitors |
Indirect competitors |
|
Unique recipes |
4 |
3 |
2 |
|
Door to door delivery |
5 |
5 |
4 |
|
Low prices |
1 |
3 |
2 |
|
Good management |
5 |
5 |
5 |
|
Knowledge of chefs |
5 |
4 |
3 |
|
Location |
5 |
5 |
4 |
Table 1: showing competitive matrix
According to the matrix direct competition from restaurant selling vegan middle eastern food is high than from those other restaurants that do not major with vegan middle eastern dishes only. New marketing campaigns will be put in place to deal with this direct competition. Many recipes from for middle eastern dishes will be formulated in order to set apart our business from the direct competitors. Recipes will also be adjusted to meet customers preferences (Alter, n.d).
My target market is the vegetarians who have a loving for middle eastern traditional dishes. By introducing new recipes from the middle eastern original recipes, I will be creating a new opportunity that does not exist in the market. I will pace the restaurant in the heart of a busy city where anyone passing by will be tempted to enter and try out the dishes. My main market target is the vegetarians but still other non-vegetarian customers can try the dishes. Marketing strategies such as free samples and advertising will be put into place. Knowledgeable chefs with deep knowledge will be a vital tool for the success of the business (Lorette, n.d).Targeting to partner with top investors who will invest their finance in the business with the aim of generating more returns for them. Strategies to cut on cost will be put into place.
Conclusion
Establishing a restaurant serving vegan middle eastern dishes is a market opportunity since this market has not been explored extensively. A lot is needed to start and keep the business running. Supply of ingredients will be from groceries, supermarkets and from farms growing the ingredients needed. The business is likely to face direct and indirect competition from other well-established restaurants serving vegan middle eastern dishes. A competitive matrix is in place to help deal with the competition that is likely to face the business. Payments will be made through means such as credit cards and cash. Investors to provide starting and running capital are needed. The aim of exploring this market opportunity is to create a new brand and generate profits from it.
References
Alter C. (n.d).The Competitive Matrix Analysis. Retrieved from; https://www.allbusiness.com/the-competitive-matrix-analysis-12278078-1.html
Fayed S. (n.d). Our 7 Top Favorite Middle Eastern Vegetarian Dishes. Retrieved from: https://www.thespruceeats.com/top-vegetarian-middle-east-dishes-2355802
Lorette, K. (n.d.). How to Develop a Marketing Strategy for a Restaurant. Small Business - Chron.com. Retrieved from http://smallbusiness.chron.com/develop-marketing-strategy- restaurant-1407.html
