An Overview of Red's, Its Products and Business Strategy Essay

Reds is a local restaurant, based out of Richmond, Virginia, in the heart of the VCU area. We selected this business because everyone loves food, and we all thought that it would be a profitable business being in the city, and for the prices and services that we offer. We learned that the restaurant industry is actually very competitive and it can be quite difficult to turn a profit due to the cost of food and other factors. Weve also learned that it can be very challenging to find a niche that another restaurant has already cornered.Business SummaryReds was founded in 2016, by six college friends who had a dream for a full service restaurant that could service the public, but almost exclusively serve college students by providing quick meals for a fair price. We began our journey in Richmond, Virginia in the downtown VCU area, with high hopes of attracting a diverse crowd. We offer Americanized dishes, including pastas, burgers, and sides to choose from, in addition to having a dine-in area, the option for take-out, and even delivery up until 200 AM. We will begin as a private company, with the hopes to go public one day, should circumstances allow. Our stock symbol would be RRVA (Reds Richmond VA), and the stock price would start at (hopefully) around 10 per share, pending expansion. Our external threats are larger restaurants, campus food vendors, other late-night delivery services, and downtown bars. Even though we wont be serving alcohol, bars tend to have the same hours as we do. Our opportunities are getting good reviews, having a positive image, and having our name out there so much that we generate business by word of mouth.StrategyReds is a full service restaurant, with a dining area and also take-out and delivery services offered. We specialize in pasta dishes, but also serve quick fix meals such as wings and sandwiches. Our mission statement To provide the highest level of...

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