Feasibility Study on Japanese Restaurant Establishment in Specified Area of Hong Kong
We supplied in-depth market analysis for our client to ascertain the feasibility of establishing a fusion Japanese Restaurant in an identified region of Hong Kong.
Our client is a local food and beverage company that operates its own restaurants and various overseas franchises in Hong Kong.
The company noticed the popularity of fusion cuisines in Hong Kong, thus planned to start a Japanese-style restaurant with a unique operation model, combining both Japanese and Korean cuisines. Our client wanted to explore the business opportunities in the overall Japanese and Korean restaurant markets, as well as to develop a strategic plan to operate the business efficiently.
HOW WE DID IT
The primary objective of the project was to explore the feasibility of establishing a Japanese restaurant in the identified region. The project was executed in four stages, with each stage focusing on providing recommendations in relation to one of the four core elements of operating the business: company positioning, strategic planning, operational planning, and financial projection.
Below provides a summary of our project approach and an overview of the project scope:
- Assisted the client to discern the potential and uniqueness of the business’ initiatives
- Performed market analysis on market trends, competitor performance, and consumer spending behavior on dine-out experience
- Quantified the human traffic and consumers’ characteristics in the identified region
- Determined suitable segments and market position
- Formulated a marketing plan to assist our client in penetrating the Japanese and Korean restaurant markets
- Provided recommendations on operation models
- Established an execution timeline for setting up the operation and market penetration targets
- Outlined relevant expenditures, required capital, and potential investment returns