Essay: Business Model Analysis

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¶ … Meal -- a Culinary Destination

Reading the description of this imagined restaurant is quite enough to make the mouth start watering. But more than that, it is enough to make the mind start spinning because of the promise of an experience that encompasses not only food and drink but a sense of history and culture. Eating is a highly evocative experience, and being able to eat as Cleopatra might have, or Anne of Cleaves, or the first female America president carries with it a promise of an unforgettable event. Given that the restaurant promises all of this for a relatively modest price, the restaurant (should it be able to keep the promises that it makes in this description) should be a wild success.

So who might be attracted to such a restaurant?

A relatively well-to-do clientele. The cost, as noted above, is not immodest, but neither is it modest. For regular diners, professional status is probably a given to be able to afford the experience.

There will no doubt be other clients who will visit the restaurant for special occasions. These are likely to include students who are especially interested in the time period, others with similar historical interests, and "foodies" -- those who are dedicated to the careful preparation and presentation of food and who therefore spend more than the usual percentage of their income on food.

At least during the first year, a number of the restaurant's patrons will no doubt be those who are simply interested in being seen at the latest chic eatery. Whether they will continue to patronize the restaurant after the initial season depends on the restaurant's popular culture profile.

Because the architects of the building are as famous as the chef, there will be a number of people who eat at the restaurant at least once simply to see the inside of the building. They are probably the least likely to return on a regular basis.

The restaurant will not target those interested in fast food for the cheapest price possible… [END OF PREVIEW]

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