Opportunity Analysis: Caribbean Restaurant in Sutton Coldfield

The report focuses on analysing the opportunity for starting Caribbean Restaurant in Sutton Coldfield. An in-depth industry analysis has been conducted to evaluate the feasibility of the proposed business. Tools such as Porter’s five forces has been presented in the report for investigating the industry attractiveness. Based on the analysis, it has been found that concerned market condition is viable for the new restaurant business.
Introduction
Starting a business venture is never an easy task; a lot of decision-making is involved beginning with identifying the sector in which the investment is to be made, arrangement of the investible capital and building of required infrastructure (Gyamfi, 2007). The viability of a business venture is dependent on many things, customers being one of the most important factors who are going to buy the products (Botha and Robertson, 2014). The selection of target customer is an important decisive factor because that creates the required market space for a new entrepreneur to enter market and reduces risk burden (Bressler, 2012).
The city of Sutton Coldfield offers a great place to open a Caribbean restaurant. There has a significant growth of Caribbean cuisine all over UK but people of Sutton Coldfield are still waiting for their first Caribbean restaurant in the vicinity (Independent, 2014). Sutton Coldfield is one of the most prestigious locations in Birmingham (Visit Birmingham, 2016). There are many restaurants offering various cuisines like Greek, Indian, Thai, Italian, Mediterranean and other Asian cuisines in Sutton Coldfield (Town Centre, 2016). However, this will be the first outlet offering West Indian cuisine and not just from a particular type but customers will be able to have a taste of all the delicacies from 28 Caribbean islands.
A survey in the form of questionnaire was done in order to gauge the response of the people towards this business idea and a detailed analysis of the market and viability of the business has been presented in this paper. It also focuses on the opportunity analysis of opening a Caribbean restaurant in Sutton Coldfield.


Business details
The restaurant will be serving authentic West Indian cuisine and would be a family restaurant with separate counter for serving liquor. The target consumer group will thus be people belonging to the age group of 18-64years of age. Sutton Coldfield consists of a number of restaurants but there is no outlet offering Caribbean cuisine. The owner can take it as an opportunity of introducing a specialised product which has no immediate competition. This will be highly beneficial for the variety loving population of Sutton Coldfield to get the taste of delicious Caribbean food. It will be three storey establishments with rooftop banquet for parties, office conference and other social gathering.
The entrepreneur needs to provide customers an opportunity to get a glimpse of Caribbean culture differentiating it from its competitors. Hence, the ambience will be aligned to coastal setting with West Indian reggae music playing in the background or band performance on Sundays.
The ground floor and basement will be reserved for parking, the first floor will be available for serving food and the second floor will have the bar. The owner has left a spot for take away but the final decision is yet to be taken.


Opportunity Analysis: Caribbean Restaurant in Sutton Coldfield

Type: Report
Domain: Opprtuinity Analysis
Words: 2000
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