Small Business Management - Assignment Example

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This paper stresses that a feasibility study puts special emphasis to identify potential problems and looks to answer one key question; whether the idea is likely to work or not.  Keeping the objective in mind the study looks to analyze the café and restaurant market of Sydney. …
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Small Business Management
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Download file to see previous pages Keeping the objective in mind the study looks to analyze the cafe and restaurant market of Sydney, Australia. In order to conduct the feasibility study, methodical analysis of the market condition is required. Market conditions tend to have significant effect on the viability of a business. While conducting market analysis certain strategic tools are required. Keeping the objective in mind PEST analysis of Australia has been conducted. Special emphasis has been to the city of Sydney while conducting a PEST analysis. A part from this the 4 P’s of marketing has also been used to provide a future action plan. The in-depth analysis has been punctuated with a brief market audit of the Australian Restaurant and cafe market to analyze the present and future market scenario as well as growth opportunities.However the preference of gourmet coffee among of the coffee has been quite evidently visible. This is largely due to the fact that the Aussies view quality coffee like a luxury product at an affordable price. If numbers are to be believed more than one billion cups of coffee have been sold in Australia. The percentage of out of home consumption of coffee has seen a steady rise. According to analysts as the economic conditions are set for improvements, steady growth of the cafe and restaurant business is expected over the course of next five years and so. Such growth is applicable as there is likely to be presence of both international players as well as other franchises. This discussion outlines that competitive Landscape The cafe and restaurant industry of Australia can be tagged as highly competitive. The main reasons can be presumed as very low barriers to entry. Add to that the industry is believed to be highly fragmented. According to reports the major players hold less than ten percent of the total market share. The small players enjoy a fair share of success as the 91% of the food chain businesses have less than fifty employees. There exists strong presence of franchisee model or any equivalent business strategy. Companies like McCafe, Coffee club, Hudsons Coffee, out back Jacks, etc. have set up strong and successful franchisee models in Australia. The companies mainly compete on the merit of quality, price and customer service. Growth Opportunities The key to the success in Aussie restaurant and Cafe business is to understand the customers and providing the customers something unique.  ...Download file to see next pagesRead More
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