Develop a concept for a new restaurant business. You may choose to develop your concept as a local, regional, or national company—but in all cases, you must plan to open a restaurant in your local area. Your concept should include the following:
name for your restaurant/chain
description of your menu, layout, and any other distinguishing features
likely direct competitors of your new concept
Answer the following questions in your discussion board response:
What are the challenges of achieving sustainable competitive advantage in the restaurant business? Consider cases of failure and success in your local market—what factors seemed to play a role in determining success or failure?
What strategic groups, or clusters of direct competitors (for example, fast-food burgers), were identified in the team presentations? Which strategic groups might be tougher to enter in your local area? Which might be easier to enter?
Do major restaurant chains have a built-in sustainable competitive advantage over local competition in your area? If you think so, what is the source of this advantage, and is it more pronounced in some strategic groups than in others (e.g., greater in tacos than in fine dining)? If not, what strategies have the locals used to successfully compete with larger restaurant chains?