Table of contents
LETTER OF TRANSMITTAL…………………………………………………………ii
Mission Statement 1
Definition of Business 1
MARKET ANALYSIS 1
Market Demand 2
COMPETITIVE ANALYSIS 2
Direct Competitors 2
Indirect Competitors 2
Strengths of Competitors 3
Weakness of Competitors 3
How IHOP’S Products Are Different 3
Why IHOP is Better Than the Competition 3
MARKETING STRATEGY 3
Overall Strategy 3
Target Markets 4
Primary Targets 4
Secondary Targets 4
Marketing Mix 4
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L.C. is going to establish the best restaurant franchise in Athens. No restaurant around serves the type of food IHOP serves, 24 hours a day! This business will make money by launching customer centric service, bringing the customers, and their friends, back for more pancakes. The competition will not be able to compete.
Athens All-Stars, L.L.C. mission is to provide a unique, family-dining experience, through a diverse menu of high quality, affordable meals and friendly service. IHOP will be the only restaurant on the east side of Athens City to serve food 24 hours a day. The owners, managers, and employees of IHOP will be dedicated to customer satisfaction. IHOP plans to turn a profit in the first few months of business. Ultimately, IHOP’s main concentration will be to keep the customers returning for the good food and friendly service.
Definition of Business
Athens All-Stars, L.L.C. is opening an International House of Pancakes (IHOP) franchise in Athens, Ohio. The company will be run as a limited liability corporation. IHOP is a national chain of restaurants with home corporate offices located in California. This particular franchise will be located on East State Street in the vicinity of SR 50 and Super 8 Motel (See Appendix D).
IHOP has a rather large menu, with meals ranging from breakfast food to lunch/dinner entrees. IHOP specializes in 24 hour a day breakfast service. The main product that IHOP serves is pancakes. IHOP currently offers 16 types of pancakes along with five different types of syrups. IHOP is unique when it comes to traditional breakfast food.
IHOP will be in business 24 hours a day, everyday, with the exceptions of Christmas, Easter, and Thanksgiving. The goal of the service staff is to provide great, friendly service every hour of the day. The individual goal of the cook staff is to provide good food, cooked to order and fresh.
The demographics of a certain area are important to analyze when starting a new company. They are defined as easily identifiable statistics about individuals. The demographics also tell about the characteristics of the county.
The population of Athens County in 2001 is 62,223 people according to the U.S. Census Bureau. There has been a steady population growth since 1970. The Department of Human and Community Resource Development at Ohio State University projected Athens population growth to increase through 2015. Forty-two percent of the population is between 25-64 years old, according the U.S. Census Bureau. There are 13,000 families in Athens County, 80 percent of which are married, and 40 percent have children. Aside from students, the largest population bracket is from 35-39 years of age (Welcome to the city of Athens, OH online, 2001).
Athens City is the most populated city in Athens County. Since the business will be located in the city limits of Athens, it will be near...