Market Analysis Summary
Because of the founders’ connections within the very trendy area of Portland, we have an excellent feel for the area and its core group of customers. They will all share something alike, which is a feeling of being in the “in crowd” and having “gotten it” in life. Although the crew will be different and not connect with each other in each segment, each segment is complementary to the others. We do plan to raise menu rates as the restaurant gets more and more crowded, and to make sure we are charging a premium for the feeling of being in the “in crowd.”
The Lonely Rich
Most of the lonely rich are tech workers these days, and most of those tech workers are Internet workers. Their life has become their website servers and code they write, and the people who help them to make the decisions in that world. They hang out with each other, but desperately want to get away from it and use the money they are racking up. Because this wealth has come fairly easily for them, it is particularly easy to separate them from their money again – they spend the most on drinks, appetizers and tips.
Young Happy Couples
The restaurant will have an atmosphere that encourages people to bring dates and to have couples arrive. It won’t be awkward for others, and Studio67 does want to be a social place where people meet each other and develop a network. These young couples are generally very successful but balanced and won’t be spending as much on drinks.
The Rich Hippies
The rich hippies in Portland are a massive group with tremendous influence over the city’s government and private enterprise. They wear tie-die but drive BMWs and crave the feeling of being in a social circle that is changing the world – even if in different ways than in their glory days. We will cater to their ecological ideology and contribute to charities to help them part with more of their money.
The organic food menu will always have a line of extremely delicious very low-fat meals. Studio67 will have tables of women meeting like they do in shows like Sex and the City, to discuss all types of matters while feeling good about the food they eat.
|Year 1||Year 2||Year 3||Year 4||Year 5|
|Young Happy Couples||8%||150,000||162,000||174,960||188,957||204,074||8.00%|