Swot analysis is
essential to obtain valuable information about any business, sector or
industry. You can identify strength, weakness, opportunities and threats. The
fast food franchise industry is rapidly increasing due to large demand for
ready-to-meals. The food sector has emerged as high-profit and valuable sector
for Indian economy as it provide employment to millions of people across the
country. Competitors in fast food industry seem to invest huge amount in
marketing and research activities to gain immense popularity among public. In
addition, ready-to-eat food items are consumed largely around the globe. Thus
to start new foodservice outlet you should know current market position.
Strengths
Investing in
well-established fast food franchise sector is profitable. Franchise model is
effective for entrepreneurs who don’t have knowledge or experience of industry.
Indian consumers are lot more educated and aware about latest food standard
practices and good quality food. New players can take advantage of latest
trends to develop delicious fast food cuisines. You can natural ingredients,
herbs or spices to beat counterparts. Low start-up cost is one of the strengths
of this sector.
Weakness
Fast food sector
is highly competitive, though there are immense opportunities for new operators
to enter into market. Existing players in India can’t sit idle as they can be
replaced by new player at any instant of time. It is flexible industry, you
have to build unique business model to best counterparts. Metros across the
country are already filled with popular food franchise chains.
Opportunities
You can dominate
the market if you able of produce new flavourful, delicious and incredible
recipes at reasonable prices. People become busier these days there demand
ready-to-eat meals each day, for instance burgers, pizzas and French fries are
among high consumed fast foods around the globe. Huge opportunities will be
generated in coming years as customer choice and preferences are fast food
cuisines.
Threats
Rise in raw
materials prices affect small, medium and large scale enterprises. People are
concern for nutritional benefits of fast foods they don’t want factory-made
preservatives or additives added in cuisines. Intensive competition from casual
dining restaurant is threat to existing as well as new fast food franchise
players.
Swot
analysis gives you little knowledge about current market position. Foodservice
business is advantageous if you able to retain customers for longer time. It is the great opportunity for fast food
operators to generate huge revenues because customers in this age and day demand
quick meals.
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