Competition

Competition in the Restaurant Industry

Have you heard the term Coopetition? If not, you’ll hear it soon. It is causing quite a stir in the marketing circles.

So in case that you are not familiar with the term, let’s start by defining coopetition. If we check Wikipedia, we find the following definition:

“Coopetition or Co-opetition is a neologism coined to describe cooperative competition. Co-opetition occurs when companies work together for parts of their business where they do not believe they have competitive advantage, and where they believe they can share common costs. For instance, the cooperation between Peugeot and Toyota on shared components for a new city car for Europe in 2005. In this case, companies will save money on shared costs, while remaining fiercely competitive in other areas. For co-opetition to work, companies need to very clearly define where they are working together, and where they are competing.” › Continue reading

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Saturday, January 24th, 2009 Competition, Restaurant Business Management, Restaurant Industry Trends No Comments

It’s All About Your Restaurant’s Location

Aside from the good food, nice ambiance and great customer service of a restaurant, what else that makes a restaurant business successful? Would it matter if the location of a restaurant is right across an amusement park? What difference would it make if a restaurant is right beside a corn field?

Of course, the location for a restaurant matters a lot. There are a lot of variables to be considered regarding a restaurant’s location since it’s also the most important step any restaurateur need to accomplish early on before proceeding to the next part of starting a restaurant business. Where and which location you start your restaurant is going to matter a lot to your business on its earliest stages of operation.

The factors that contribute to considering the most appropriate, if not perfect location for your restaurant, are important. Of course, as the owner, you will have to consider you expectations and goals with this type of business. › Continue reading

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Friday, October 24th, 2008 Competition, Location, Opening A Restaurant, Plan Business No Comments

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