Using the steps below, prepare a feasibility study for a restaurant of your own establishment. Give it a name and what type of restaurant it is (either plant based or anyone) It could be anywhere in the world.

1. Identifying Market Area Characteristics Market area characteristics include demographic information on potential guests in general area of proposed site Demographic information on potential guest includes: - age - sex - marital status - # of children - family income - business - residential location. Other market area characteristics may include: - areas volume of retail sales - types of industrial/commercial business - impact of tourism - transportation - (+)ve (-)ve trends (economic stability) - areas physical deterioration (undesirable location) 2. Evaluating the Proposed Site A feasibility study evaluates the project site and area by; 1. researching the number of people: * in the surrounding metropolitan area * living/working within walking distance * within easy driving distance. 2. availability and convenience of parking 3. traffic flow patterns and distance from highways 4. location of other attractions (shopping malls, banks, etc.) 5. accessibility 3. Analyzing the Competition All food and beverage facilities in the projects market area should be analyzed, in terms of their: - location - type - source and volume of business - menu prices - days and hours of operation - check average - type of service - # of seats - availability of liquor service - entertainment - promotional efforts - chain affiliation - establishment date - busy periods -guest satisfaction At the and of the analysis; feasibility study can help determine: - type/volume of demand for F&B service - adequacy with which competition satisfies the current demand - differences between proposed facility and competition. Result of the analysis can also be used in; - design of the proposed facility - menu planning - types of service - prices - advertising /promotion strategies - operation hours