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Starting a New Business. Two Key Questions: What is it like out there? How can we be successful?.

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starting a new business

Starting a New Business

Two Key Questions:

What is it like out there?

How can we be successful?

slide2

Confucius: “May We Live in Interesting Times”Unemployment remains high at 9.4%, above 19% for 18-30 Home prices remain depressed; American homes have lost $9 Trillion since 2006. Foreclosures at all time high

summary

Summary

High unemployment and collapsing home values have shaken consumer confidence

People have cut back spending, looking for value and the necessities

There is no quick turnaround

sound business plan is the key

How can we be successful?

Sound Business Plan is the Key
  • Clearly define who your customers are, as well as their wants and needs.
  • Ensure business concept or idea addresses customer

needs

  • Define concept against the competition

Customer

Concept

Competition

slide11
The Process of Understanding

How do customers feel about my business?

How do customers uniquely use my business?

-Be specific

-Look for 2-3 word clarity and insight

How can we be successful?

slide12

How can we be successful?

McDonald’s uncovered:

Hostage Moms

mcdonald s tactics

How McDonald’s Became Successful

McDonald’s Tactics
  • Wholesome platform
    • Fresh Salads
    • Whole white meat vs. mystery meat
    • Healthy Kids meals (Apple Dippers/Milk)
    • Ronald McDonald promotes exercise & fun
  • High impact store design
    • McCafe
    • Gourmet Coffee
    • Upgraded Ambiance
  • McCafe: Create Mom’s space

in the store

competitive mapping

How can we be successful?

Competitive Mapping
  • Understand your competitive set and determine how you are different
      • Get your team out into the marketplace
      • Examine and analyze the competition (menus, store layouts, pricing, promos, their customers)
      • Understand how your concept is or can be different
shakey s concept family fast casual

Define Your Business

Shakey’s Concept: Family Fast Casual
  • Quality branded experience for adults & fun place for kids

Food first

Entertainment second

shakey s business statement

Define Your Business

Shakey’s Business Statement

For today’s families who love pizza and want something special for the kids, Shakey’s is the gathering place where everyone has fun.

slide18

Define Your Business

Who:
  • Time pressed families, especially with tweeners, ages 5 -11
  • Groups, sports teams, schools, birthday parties
  • Adults on the go
slide19

Define Your Business

Why:
  • Customers want to carve out a comfortable, fun time in a stress-free environment
  • Place for good value for the whole family
  • Escape + Unwind
  • Spontaneous family dining
  • Kids can be kids
  • Desiring connection i.e. community dining
slide20

Define Your Business

When:
  • Weekday or Weekend Indoor Picnic
  • Celebrate, Events
  • Spontaneous
  • After school
  • After the game
where how

Define Your Business

Where/How:
  • Away from home, but neighborhood destination
  • How: Dine-in
slide22

Integration: Creating Business Drivers

What:

Shakey’s Pizza Parlor is Family Fast Casual

Menu Layout

Logo

Gourmet Pizza

Fresh Tossed Salads

slide23

Integration: Creating Business Drivers

What:

Shakey’s Pizza Parlor is Family Fast Casual

Uniforms

Store Design

Service System

Games

slide24

Wrap Up

Clearly define your business in a way that is meaningful to the customer

-Who

-Why

-When

-Where/How

-Then What

  • Key to Success: