This generation also tag the millennial generation the echo or the boomlet generation include those born between 1980 and 2000. They are the prime target for food service business
Generation y
Is label applied to those who were born between 1965 and 1980. This group is known for strong family values
Generation x
Born between 1946 and 1964 make up the largest segment of the U.S population
Baby boomers
This group consists of people in a age range between the high end and the baby boomers and seniors
Empty nesters
Covers the large age group of people age 65 and older.
Seniors
Restaurant classified into three primary categories
Quick service
Midscale
Upscale
They are also known as fast food restaurant this establishment offer limited menus of items that are prepared quickly and sold for relatively low price
Quick service restaurants
It occupies the middle ground between quick service and up skills restaurant they offer full meals but charged price that customer perceive as providing good value
Mid scale restaurants
The offer for table service and do not necessary promote their meals as offering great values instead they focus on the quality of their cuisine and the ambience of their facilities
Upscale restaurant
Selecting a food concept
Seafood
Steakhouses
Family style restaurants
Casual dining restaurants
Ethnic restaurants
Pizzeria
Sandwich shop or delicatessen
Coffee house
Bakeries
Craving your niche
Before entrepreneurs can begin many serious business planning they must first decide what specific segment of the food service industry do you want to enter while they are many to be educated
Craving your niche
Offers cakes scoones bagels and coffee drinks and sometimes even offer full dining menu including sandwich hot and trees beer and wine
Bakeries
Dealing graciously with customers and playing the role of illegant holes are only part of a restaurants many duties
Working in a restaurant
With more than 400 billion cups consume every year it is the world most popular beverage
Coffee house
They range from quick service place with limited selection to up skills eateries with wide variety of menu items
Ethnic restaurants
Change their menu quickly and easily to adopt current taste
Sandwich shop
This establishment appeal to be wide audience ranging from member of generation y to generation x to baby boomers with families to seniors and they provide the variety of food items from appetizer and salad and main dishes and desserts
Casual dining restaurants
Pizzeria
To go Restaurant
Full service pizza restaurant
This establishment are geared toward families since they charge reasonable prices they also appeal to seniors they offers pd service that falls somewhere between the quick service place and full service restaurant
Family style restaurants
It is part of the mid scale and upscales market
Steakhouses
Generally offer a limited range of choices often requested to fried seafood
Seafood
Business opportunities factors
Markets
Individual interest
Capital
Skills
Suppliers of input
Manpower
Technology
The number of prospective buyers the presence of competitors and the price and quality of goods and service have be analyzed
Markets
There are those who are interested in agriculture other are inclined to industries not a few like to be employees interest should match business opportunities
Individual interest