The Company will target three specific areas to attract business: Local customers; tourists and out-of-town visitors; and groups and corporations.
Specific media campaigns will be directed at each target group:
The Company will position UFO Restaurant as the premier adult
and family dining/entertainment complex in its area.
Crucial to its successful development and expansion is the recognition of its name, the dining/entertainment experience it offers, and its reputation for quality and service. To establish this recognition, UFO Restaurant, Inc. plans to aggressively market its services to its three targeted groups.
The Company plans a large advertising budget, up to
$140,000 and will retain the services of an established marketing organization to promote
a "must see" image through direct mail , radio, print media, billboards, travel
guides, and various
other media located in airports, train depots and subways.
UFO will compete for discretionary dollars with a wide variety of other food and entertainment sources, particularly other restaurants and other video arcades. However, research shows a growing consumer desire for active, dining/entertainment combinations, and that companies with tightly defined concepts are showing the most profitable results.
The Company has patterned its concept around the successful Dave & Buster's. Other successful entries into the themed market are Planet Hollywood and Rainforest Cafe. Both of these restaurants boast 1997 sales of more than $100 million.
The unique and distinctive building and its offering of active entertionment together with quality, affordable dinin is expected to draw a high volume of customers.UFO believes that the building concept, both its distinctive outward appearance and its dramatic simulation of a viewing window in a traveling spaceship, will draw a certain level of media attention, increasing the customer traffic. Customers will choose UFO for a unique, new experience and because of the unusually large selection of entertainment choices packaged with affordable, quality dining.
The full service segment of the restaurant
industry boasts ambiance as its competitive edge.The ambiance created by the architecture, decor, music, lighting and menu design will become more important to patrons as we enter the new millennium. Theme restaurants have enjoyed enormous success and popularity in the 1990s and interest continues to grow rapidly. Restaurants will become meeting venues in addition to eating places.
Casual/theme restaurants are the most popular type of dining establishment, accounting for 46% of industry value sales in1995. Family dining establishments increased their share of the market to 42% in 1995, up from 41% the previous year. Fine dining restaurants and cafeterias accounted for 8% and 4% of value sales respectively during the survey period. Full service restaurants are increasingly catering to the needs of children, realizing younger children exert a great deal of infuence over their parents in terms of making decisions on where to dine.
Planet Hollywood International operates movie-themed restaurants. The establishment offers hamburger-style meals and movie memorabilia displays. Souvenirs account for about one-third of sales. The company also operates nine sports-themed restaurants called Official All Star Cafes. Sylvester Stallone and Arnold Schwarznegger are among the megastars who together own over 17% of Planet Hollywood International.
|Dave & Buster's, Inc.
Dave & Buster's operates a dozen restaurant/ entertainment complexes geared to adults. Each location features a full menu and bar, along with entertainment from shuffleboard to virtual reality games. The Million Dollar Midway has carnival games and other amusements, such as simulated stock car racing and a large golf simulator. The complexes host mostly 25-45 year olds in locations such as Atlanta, Chicago, Cincinnati, Dallas, Denver, Florida, Houston and Philadelphia.
|Rainforest Cafe, Inc.
Rainforest Cafe develops theme restaurants--complete with chattering robotic monkeys, screeching live parrots, and thunderstorms--and adjacent retail facilities that sell toys, apparel, and gifts at malls and a Disney them park. The company has more than a dozen cafes in operation (including Mall of America and Walt Disney World) and plans to expand rapidly in the US as well as Mexico, Canada, and the UK.
The market fis forecast to grow by nearly 27% to the year 2000 to rach a value of $376 billion. Longer working hours, increases in the number of working women and rising personal disposables incomes will continue to fuel industry growth through the year 2000. Intense competition in the industry will continue toexert downward pressure on prices, thereby reducing operating margins throughout the industry. Major players will increasingly focus on the nutritional content of their menus, attempting to offer healthier foods and beverages that closely resemble home-cooked meals.
Per capita expenditure grew by nearly 14% between 1992 and 1995. Restaurant usage is highest among consumers berween the ages 45 and 55 years. Usage is lower among lower income consumers and seniors over the age of 65.
Business Description Management Team