The restaurant industry analysis is way through which a particular restaurant is able to properly assess whether it is running in profit or loss. The analysis is conducted in terms of a specific area that needs looking into. This could be the sales of the restaurant for the particular year, it could also be for a assessing the internal management of the restaurant. The analysis needs to be accurate. This is not merely collecting data but also coming to a possible strategy that can be used to better develop the business.
The analysis needs to be conducted periodically in order to be up dated about the current status of the business. It is advisable that an expert conducts the analysis so as to avoid any kind of errors. The restaurant industry analysis is also a way to understand the customers’ reactions towards the restaurant business as well.
Sample Restaurant Industry analysis
Name of Restaurant: Jamie Oliver Bar
Analysis created by: T.Y Citadel Co.
Restaurant overview: This is a family restaurant that is intent on producing home cooked meals in a restaurant style fashion. This means that all meals are 100% family friendly and the menus are all priced for a family target market.
Objective of Analysis:
- To assess whether the restaurant is running in profit or loss
- To create marketing strategy to reach out to a wider market
- To create exit strategy or Plan B during extreme losses
- Sales (for the past 3 years): up by 5%
- Profit percentile: 2% increase in 2010
- Menu Response: Overall Positive
The analysis shows the restaurant has been running stably and in profit for the past three years. There needs to be a strategy developed for ensuring this stability is ensured in the next 5 years.