Now that you that have developed and outlined the background of your business in the second phase of the project, you are tasked with conducting an industry analysis.Industries are broad categories su

TopTaste Fast Foods

Name: John Blair

Institution Affiliation: Rasmussen College

Date: February 12, 2019

About TopTaste Foods

The name of the business is “TopTaste Fast Foods”. The business name is self-spoken since even the person who is not aware of the product that is offered in a certain place with the name given, he or she will be aware of what is offered there. The business name has two keywords that are self-elaborating to the first customers. The “TopTaste” will give an overview of a sample of foods that are offered in such fast food business. The “Fast Foods” explains that the foods are ready for a person at a rush.

Benefits of TopTaste Foods

With help of this business, it will help in attracting the passersby or first-time customers because it has a quick link between the customers thought and expectations. The business name is also helpful for ease of identification to the persons who might in search for the fast food place. In short, the business name will help in creating awareness of the existing and potential customers concerning its existence.

Nature of the Business

The “TopTaste Fast Foods” has the aim of offering fast foods at an affordable price to all persons within a city. The fast-food business will be located in a city since there is a huge population thus increasing the number of potential customers. Where there is a large population, it is evident that people must eat, and having a large number of visiting the place makes a business idea a viable one. Additionally, it will be offering various kinds of foods and drinks. Here are fast foods that will be offered, namely: chips, fish, fried chicken, onion rings, tacos, ice cream, hot dogs, pitas, chicken nuggets, and sandwiches. Here are examples of the fast drinks that will be offered, namely: refreshment drinks, yogurts, milkshake, coffee, tea, etc. The business will be offering free services such as massages and Wi-Fi to the customers

Opportunity Niche

The fast-food business in the marketplace will help in meeting the needs of the business persons in the city since there no many places offering fast foods and drinks. With the use of innovation, is that the customers will be sending their orders as well as indicating the time when they will be coming either to eat at the place or take away the meal. Therefore, with help of website, this will play part in enhancing the productivity and efficiency of its operations because customers will be in a position to make an order in advance. The customers will choose to buy the foods served by TopTaste Fast Foods because of its affordable price and quality. When the quality goes hand in hand with customer expectation, it is evident that the customers will enjoy and as well as increasing the number of loyal customers and facing an increase in first-time customers because of good reputation.

The business competitive Advantage and Uniqueness

The company will enjoy a competitive advantage because of its strategic location, affordable, quality, and space for accommodating many customers as possible. It will succeed in the market because of its added services such as free Wi-Fi and massages, and website that gives room for the customers to order foods and drinks without lining up, and they will just come and pick it. The fast foods will be offered alongside other free samples of drinks and this can act as a unique product that will attract the customers, and reducing the competition amid a time of operating.