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Business Analysis of Outback Steakhouse
This essay answers the following questions.
1) What are the standout business and economic characteristics of the
restaurant industry?
2) What are the key success factors in the casual dining portion of
the restaurant industry?
3) Do a SWOT analysis of Outback Steakhouse. What does it suggest?
4) Is the ?Principals and Believes? Policy Successful?
5) Evaluate Outback?s Financial Performance and present conditions.
6) What major issues and conditions is the restaurant industry facing?
7) What recommendations would you makes to Outback Steakhouse to keep
increasing sales and profit margins in his stores?
1) What are the standout business and economic characteristics of the
restaurant industry?
* Restaurant-industry sales are forecast to advance 4.5% in 2006 and
equal 4% of the U.S. gross domestic product.
* The overall economic impact of the restaurant industry is expected
to exceed $1 trillion in 2006, including sales in related
industries such as agriculture, transportation and manufactur…
… middle of paper …
…profit margins and sales. Outback Steakhouse is unique
for its quality and taste of food, and its casual dining atmosphere.
That uniqueness will allow Outback to increase its price without
losing customers. Also according to the restaurant industry trends,
the majority of people that eat out have an annual income of $70,000
or more. Raising the price a couple of dollars will not hurt many of
Outback Steakhouse customers financially. Therefore, raising prices
would be very beneficial to Harry Gauntlett and the company?s
shareholders.