Assignment 2: Evaluating Trends And Opportunities
Evaluating Trends and Opportunities
Imaru Dismuke
MGT/ 418
May 29, 2014
Donell Miles
Evaluating Trends and Opportunities
Many Detroiters love fast food, but consumers from around the globe love it just as much as any Detroiter. Restaurants like McDonald’s have broadened across the world, and surfacing markets are one of the fastest growing areas in the fast food industry. However, the fast food industry still has its’ challenges, particularly in the United States. From economic recession and changing views about health and rising food costs, many fast food chains have been experiencing some serious issues internally and externally.
But rather than run from these challenges, the fast food industry has been offering new product …show more content…
In The City of Detroit, consumer’s tastes are changing as they become more conscious of the health risks of eating quick-carry-out lunches and fast foods that were so popular in the past. More restaurants than ever choose healthy options over greasy processed meals. Fast-casual diners have the opportunity to introduce good, healthy fast food to the new consumers. Fast-casual diner company models offer opportunities to spend more money into their local community economies than large fast-food franchises. Small fast-casual franchises usually by their meat and goods locally, giving an increase to farming economies where the restaurants are located. The little improvement to the local economy can boost the demand in the local restaurant industry. Fast-casual diners usually pay more than traditional fast-food franchises. This offers an opportunity to appeal to job applicants who are more experienced and qualified, consequently improving service and product quality (Ingram, …show more content…
These franchises are not sitting by carelessly while the new fast-casual diners try to increase market share in the industry. In the past, several fast-food franchises served unhealthy foods only, but they now offer healthy wraps, snacks, and salads at a lower price than fast-casual franchises. This can damage the fast-casual restaurant’s advantage by taking their customers incentives to stop going to the traditional fast-food chains. The average price for a meal at a fast-casual restaurant can range from $10 to $15, which can be very expensive for consumers having a hard time balancing their budget. Fast-casual restaurants present several risks in addition to opportunities. The compensation and sourcing rules that give internal chances, act to raise fast casual franchise costs compared with fast-food chains, like compelling them to keep high prices or cut into profits. Using a large variety of organic, fresh ingredients can also expose fast-casual franchises to a high risk of ingredient waste and spoilage; making costs much higher (Ingram, 2014).
The fast food industry has come a long way from burger stands and French fries. In the current modern society fast food is changing each year. The past recessions, higher food cost, and health concerns have caused many fast food chains to make changes in their menu and other areas also. There are more healthy choices of food added
Imaru Dismuke
MGT/ 418
May 29, 2014
Donell Miles
Evaluating Trends and Opportunities
Many Detroiters love fast food, but consumers from around the globe love it just as much as any Detroiter. Restaurants like McDonald’s have broadened across the world, and surfacing markets are one of the fastest growing areas in the fast food industry. However, the fast food industry still has its’ challenges, particularly in the United States. From economic recession and changing views about health and rising food costs, many fast food chains have been experiencing some serious issues internally and externally.
But rather than run from these challenges, the fast food industry has been offering new product …show more content…
In The City of Detroit, consumer’s tastes are changing as they become more conscious of the health risks of eating quick-carry-out lunches and fast foods that were so popular in the past. More restaurants than ever choose healthy options over greasy processed meals. Fast-casual diners have the opportunity to introduce good, healthy fast food to the new consumers. Fast-casual diner company models offer opportunities to spend more money into their local community economies than large fast-food franchises. Small fast-casual franchises usually by their meat and goods locally, giving an increase to farming economies where the restaurants are located. The little improvement to the local economy can boost the demand in the local restaurant industry. Fast-casual diners usually pay more than traditional fast-food franchises. This offers an opportunity to appeal to job applicants who are more experienced and qualified, consequently improving service and product quality (Ingram, …show more content…
These franchises are not sitting by carelessly while the new fast-casual diners try to increase market share in the industry. In the past, several fast-food franchises served unhealthy foods only, but they now offer healthy wraps, snacks, and salads at a lower price than fast-casual franchises. This can damage the fast-casual restaurant’s advantage by taking their customers incentives to stop going to the traditional fast-food chains. The average price for a meal at a fast-casual restaurant can range from $10 to $15, which can be very expensive for consumers having a hard time balancing their budget. Fast-casual restaurants present several risks in addition to opportunities. The compensation and sourcing rules that give internal chances, act to raise fast casual franchise costs compared with fast-food chains, like compelling them to keep high prices or cut into profits. Using a large variety of organic, fresh ingredients can also expose fast-casual franchises to a high risk of ingredient waste and spoilage; making costs much higher (Ingram, 2014).
The fast food industry has come a long way from burger stands and French fries. In the current modern society fast food is changing each year. The past recessions, higher food cost, and health concerns have caused many fast food chains to make changes in their menu and other areas also. There are more healthy choices of food added