SWOT analysis for Aurora

Group name: Aurora

Name of new product/service: Restaurant

Strengths Weaknesses

Highly Trained Staff

New on the market

We have an extensive training programmer in place so that we can ensure we have the highest trained staff so they know what we expect of them.

We understand that well-trained staff can save money and time on a daily basis which means our customers will be loyal as well as our highly trained team adding to the success of the business, including building the restaurants reputation.

Having well-trained wait staff means that they know how to take care of customers on any occasion, the waiters are the face of our restaurant so we have trained them in the most repressions manner.

We have implemented a buzzer scheme, each waiter is fitted with a device that will buzz when the food is ready in the kitchen to go out to our customers, in order for the food to be served as quickly as possible keeping it fresh and the right temperature.

Our kitchen staff are also trained in correct food-handling procedures so that our food is not a danger to our customers’ health or our reputation.

Whilst we are filling a gap in the market our restaurant is not established in the market and we will be competing against other highly established brands Hereford it may be difficult for us to attract customers and make a name for ourselves.

Also as we only have one establishment so our restaurant has no market presence or reputation this means that our potential customers may not want to try something new and will still visit our competitors.

SWOT analysis By irreparableness Service offered – chef going to house As we are not a traditional restaurant we have come up with an adventurous but small, simple menu.

With a smaller menu it makes our restaurant more exclusive as well as allowing us to concentrate on creating these dishes to the highest possible standard. Gordon Ramsey once states that a small menu is better as you can focus on the quality of the food rather than the quantity that you produce. He believes that the quality of the food is far more important as customers are more concerned with this aspect. Although the menu may seem small we have 3 different menus that are available: meat, fish and vegetarian menus. Having a small menu also enables us to reduce wastage and food storage.

Although we are offering a personal chef experience to come to your house and cook for you we know this may be complicated. The chef will have to take everything with him and will have to know how many people to cook for as well as knowing what to cook before he arrives. This could be complicated if it is not organized properly and more or less people attend the event.

Niche in the market – chef cooking in front of you Location

We have chosen to have an area of the restaurant which is private and you will have a chef cooking your food in front.

The only other restaurant that offers this service is Banana’s but they do not offer the choice of not having your food prepared and cooked in front of you.

As this is our restaurant’s specialist it narrows the focus which means the restaurant will benefit from the process of refinement and repetition.

Also, as Banana’s is not in the same area as our restaurant we will benefit from less competition and may mean that we attract more customers.

As our restaurant is based in Canary Wharf it can be difficult for people to get to if they are not based around Canary Wharf and The Docklands.

This area can be difficult to get to as only 1 main tube line goes directly there and the DEL.

The problem with this for us is that not many people travel to Canary Wharf unless they are doing business there.

This loud mean that we have less customers than expected and could lose possible business.

NOTE: Strengths and weaknesses are factors that are internal to the organization and are controllable.

For example: a strength of an organization might be that it’s a well- known brand, the evidence to back this up might come from somewhere like www. Integrand. Com who might list them in the top 100 brands in the I-J.

Type of factor in PESTLE Why and what impact could it have?

Economic – Increased Income The most affluent consumer group are based in Canary Wharf and have more disposable income. These consumer groups incomes are expected to grow very fast over the next 5 years, with the demographic group of ABS forecast to increase by nearly 19% by 2015 and the CLC group by 8%. This would be a benefit to us as our target audience is high earners.

Social – Growth If our restaurant is successful, which we believe it will be as this particular market segment is poised for rapid growth due to not many if any restaurants offering the same services as we do, we have plans to expand overseas and perhaps open the restaurant up to franchising. We believe that major cities such as New York, Milan ND Tokyo would be the best places to start up the franchises as these areas of the world have the highest disposable income which deeply influences people’s lifestyles. Increasing our business overseas would mean that we gain customers and loyalty as well as building our brand reputation.

Technological – Advertising Advances in technology means that the restaurant industry has benefited from far more efficient and cost effective ways of delivering goods and attracting customers. Our restaurant currently uses IT and computer software systems to processes stock orders, we could uses technology such as the internet to discover other distribution methods and perhaps offer our customers an app so that they can order their food before they even arrive at the restaurant or we could use this service to provide a delivery service.

Aurora could use social media to market the restaurant and get more recognition for the restaurant meaning that the restaurant would go viral. Social media could also be used for our customers to leave comments which we could respond to with our service in the restaurant as well as enabling us to share information quickly.