Abstract:
This study is aimed at studying the business environment of the country and then accordingly selecting an appropriate business type in the prevailing market conditions which results into high profitability and high return as compared to other investments in the market. This research focuses on the study of restaurant industry as researchers wanted to open a restaurant. In depth market analysis has been carried out to launch a successful restaurant business. Study starts from the history and background of the restaurant which reveals about how did the restaurant industry revolutionized over the centuries. The current study provides a detailed business plan which covers all the essentials of a successful business plan.
The research methodology adopted for this research is based on standard theory. Two different Questionnaire forms were used to collect data from the employees and the general public. Direct interviews were also done.
Crucial market opportunities have been identified in the business plan and relative action plans have been explained about how to accomplish the entire situation. Critical risks have also been identified in the study which might affect the operations of the proposed restaurant. In addition contingency plans have been defined in order to eliminate those risks so that a good working business environment can be created.
This study is expected to be helpful for the readers to have information about how to change with the dynamic and competitive business environment and how to create better opportunities.
