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FAB 468 UNLV Food & Beverage Operations Management SWOT Analysis Paper

FAB 468 UNLV Food & Beverage Operations Management SWOT Analysis Paper

Question Description

Please write 4 opportunities, 2 strengths, 2 weaknesses, and 2 threats for my group’s Japanese/Korean restaurant business called “Kanpai”. Before start working on this assignment, you are required to read the Restaurant Concept, Theme, and Cultural Report, menu development, interior and décor, and marketing assignment that we have done for our restaurant business as a group. I will attach these previous assignments, and please read them so you have ideas on our restaurant before working on 4 opportunities, 2 strengths, weaknesses, and threats.

Instructions from the professor:

By assessing these four aspects of your business, Strengths, Weaknesses, Opportunities, and Threats (SWOT), you can analyze your business’s current position in the market that distinguishes you from your competitors, to compete successfully. By analyzing through a SWOT a strategy can be formed that best suits your existing operation by reducing the chances of failure, understanding what you’re lacking, and eliminating possible hazards. This will enable you to position the restaurant financially in order to compete successfully in your present and future market.

Clearly state and discuss each point within your SWOT, provide evidence when needed.

Here bloew is the examples from other members of the group on weakness and threats. Please keep the format as examples, and make sure to not repeat what other members have already written.

Weaknesses

  1. Missing nutrition information on the menu/website

Our menu and website are missing out to show the nutrition information currently. The menu has labelled the ingredients, food allergy warnings, wine origin, and has not added the nutrition information yet. As more and more people pay attention on healthy eating today, some consumers may want to see the nutrition information provided on the menu, including total calories, the amount of foods, cholesterol, sodium, protein, fat, salt, added sugar and others (U.S. Food and Drug Administration, 2020). Kanpai will think of adding nutrition information to the menu later that makes consumers make wise choices.

2.A brand new and unknown restaurant

Kanpai is a brand new and unknown restaurant located in the Southwestern part of Las Vegas Valley, is the only Japanese and Korean fusion restaurant nearby. Everything starts at the beginning and most things are not in control, we are not sure about our fusion cuisine if it is popular among the people and we do not have loyal customers. We are learning how to operate the restaurant, including creating standard operating procedures, training employees to follow procedures, carefully service customers to keep customers coming back. Everything is unstable to a new and unknown restaurant.

3.Culture food may not their taste for some people

As a Japanese and Korean fusion restaurant, the culture of food must be different from local. Some people cannot adapt to the taste since the taste would be different from local food. To some customers who do not like the taste of Asian cuisines or not comfort the eating habits of Japan or Korea, we may lose this group of customers on marketing. For example, Japanese food looks beautiful and delicious but they taste more like lightly. For those customers who have a heavy taste, they may think the taste of food is not agreeable to them. We need to consider this weakness of cultural differences and different eating habits. However, keeping a comfortable environment and quality customer service will help Kanpai to be successful.

  1. Rising food costs

On average, food prices are going up at the rate of 2 to 3% annually (Amadeo, 2021). Some of the factors that contribute to this increase include high oil prices, which, in turn, raise prices for gas and shipping, climate change, government subsidies, trends on eating more meat, and high-quality organic produce. Some short-term factors that may change food prices include variations in supply and demand, weather, disease outbreaks, war, and natural disasters (Amadeo, 2021). Kanpai will have to consider all these factors when choosing food vendors, creating new or seasonal dishes, and making menu prices adjustments as needed.

2.Restaurant competition due to the high density of restaurants in the area

Kanpai is projected to open in Enterprise, NV, a town located in the Southwest part of the Las Vegas Valley. Located on the intersection of the main roads, S Rainbow and W Warm Springs, Kanpai is in the midst of the other restaurants, bars, and quick-service eateries. Enterprise diners can opt for a steak and seafood house, a buffet, or a burger joint. Additionally, they can choose from a wide variety of cuisines from Chinese, Japanese, Thai to Mexican and Italian (Open Table, n.d.). While Kanpai is going to bring the new fusion of the Japanese and Korean cuisines to the area, the restaurant is still going to have plenty of competition.

3.Changes in eating habits

Many Americans are now looking for transparency in their food as they become more educated on food nutrition and healthy eating. The vegan population has been increasing drastically, but even those who eat animal products often choose plant-based alternatives. In fact, 52% of Americans have increased their consumption of fresh produce and plant-based proteins. Many Americans are looking for organic food options when grocery shopping or dining at a restaurant. Another rising trend within the food industry is meal kit delivery services and grocery delivery and pick-up services. (Weintraub, 2019). People are not only more conscious about food ingredients in their meals, but they also tend to want to spend time home with their families cooking and eating meals together.

4.Future health and safety requirements

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