The Salad Bar
When it comes to strengths of The Salad Bar, there are a handful of strengths for starting a business like this.
When you have a strong product supported by focusing on quality, health, and having a competitive prices in addition to the speed of producing the meals.
Market conditions are favorable with The Salad Bar a new niche in a market that is already in high demand.
High gross margins on food products, which can in turn be maximized by the negotiation of bulk purchases from wholesalers.
Transferable business model as a result of similarities in trends and the US culture of street style food vending. Ability to capitalize on brand ad concept with the expansion through franchising and other market segments.
The Salad Bar will focus on having a very specific, targeted menu catering to salads only just as In-n-Out has a very select targeted menu.
There are not too many weaknesses that I can think of when it comes to establishing The Salad Bar.
Dependability of concept on some of the food products, as food products cannot be patented; this needs to be addressed by building strong brand awareness and establishing copyright on total quality system.
Product may be vulnerable to weaken over time, which can be minimized through product innovation and diversification.
The Salad Bar will have to start with one location and build up from there.
Budgeting for marketing will be hard as The Salad Bar builds revenue.
When starting a new business, one must assess what types of opportunities can come within the near future of the company. This will help you be prepared to expand and create a bigger base for the company in the long run.
Niche-specific opportunities through monopolizing the niche market I am targeting by building strong brand awareness and leading the “salad” fast food market.
Diversity of locations can be acquired which will lead to the access of a very diverse target customer group.
Capitalize on diversity of venues and consumer groups to promote and market expansion through event and business catering, and franchise ownership.
Health issues are on the rise due to number of obese children becoming higher.
Name and product can be licensed to sell select salads in grocery stores.
There are many threats one must assess and recognize before starting a new company in order to avoid as many problems as possible.
Vulnerability to imitation products from competitors will be reduced through rapid development of The Salad Bar products and name.
Other fast food restaurants already sell salads, but many people do not prefer them.
At times there are lettuce recalls for E. Coli. This needs to be addressed by establishing contacts with a reliable vendor that will assure that they are not selling us something that is contaminated.