It is crucial to critically assess the viability of a particular business concept with a view to finding out whether one may proceed to allocate money and time resources in it. The current plan of opening a Dough Pizza outlet that specializes in pizza, sandwiches, salads, and different delicacies in Lynchburg is logical and bound to succeed.
In terms of market feasibility, the demand for pizza and other fast foods is high, implying that this outlet is likely to record high sales due to the uniqueness associated with its products. For instance, Dough Pizza’s targeted customer base that includes university students prefers quality and reasonably priced pizzas and sandwiches among other fast foods (Eyles et al., 2018). The current business has higher chances of succeeding because it guarantees the above two elements, namely product quality and affordability, to its clients (Bamford & Bruton, 2018). These factors will also enable this company to survive the competition that characterizes the restaurant industry. For instance, despite rivals such as Papa John’s Pizza and Dominos being well established, clients will prefer superior and reasonably priced pizzas offered at the newly opened outlet.
The selected business model of offering outstanding services to clients reveals why Dough Pizza is bound to retain its existing pool of customers while attracting additional others. Nevertheless, Dough Pizza may need to consider the costs associated with a startup, including challenges of low sales, financing, and almost zero profits in the early months of its operations (Mihaela, 2017). The idea of learning from customers’ day-to-day reviews is appropriate because it will enable Dough Pizza to customize its products to match their prevailing tastes and preferences, hence standing a higher chance of performing exemplarily in the restaurant industry (Eyles et al., 2018; Bamford & Bruton, 2018). The guaranteed availability of the targeted college students and locals in Lynchburg assures Dough Pizza of a constant market and, consequently, continued operations in the restaurant industry.
Conclusively, the chosen model fulfills consumers’ demand for pizzas that are sliced according to their requirements, including several slices, square shapes, or any other form. Overall, Dough Pizza should proceed with its plan of opening an outlet in Lynchburg because it has a high probability of succeeding in the pizza sector.
References
Bamford, C. E., & Bruton, G. D. (2018). Entrepreneurship: The art, science, and process for success (3rd ed.). New York, NY: McGraw-Hill Education.
Eyles, H., Jiang, Y., Blakely, T., Neal, B., Crowley, J., Cleghorn, C., & Ni Mhurchu, C. (2018). Five year trends in the serve size, energy, and sodium contents of New Zealand fast foods: 2012 to 2016. Nutrition Journal, 17(1), 65.
Mihaela, H. (2017). Financing small businesses: From venture capital to crowdfunding. Studies in Business and Economics, 12(2), 63-69.