Starting a New Business Two Key Questions: What is it like out there? How can we be successful?
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Transcript of Starting a New Business Two Key Questions: What is it like out there? How can we be successful?
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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
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
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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
How can we be successful?
Customer Concept
Competition
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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?
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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
How McDonald’s Became Successful
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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
How can we be successful?
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Shakey’s Concept: Family Fast Casual• Quality branded experience for adults & fun place for kids
Food first
Entertainment second
Define Your Business
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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.
Define Your Business
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Who:• Time pressed families, especially with tweeners,
ages 5 -11
• Groups, sports teams, schools, birthday parties
• Adults on the go
Define Your Business
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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
Define Your Business
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When:• Weekday or Weekend
Indoor Picnic• Celebrate, Events • Spontaneous • After school • After the game
Define Your Business
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What: Shakey’s Pizza Parlor is Family Fast Casual
Integration: Creating Business Drivers
Logo Menu Layout
Gourmet Pizza Fresh Tossed Salads
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What: Shakey’s Pizza Parlor is Family Fast Casual
Integration: Creating Business Drivers
Store Design Uniforms
Service System Games