burger 21
TRANSCRIPT
Shannon Hartwig
HistoryNovember 2009, the owners
of The Melting Pot Restaurants had a vision to create a burger restaurant that offered a unique variety of high-quality food.
Opened November 2010 in the Westchase area of Tampa, Fl.
18 franchises in developmentBurger 21 has since opened
locations in Arizona, Georgia, North Carolina, Virginia, New Jersey, and New York.
Burger 21 established their“B-isms” – which range from “B-saucy” and “B-different” to “B-comfortable” and “B-involved.”
GrowthNew location to open up in
Ft. Lauderdale, Fl.
ResourcesBurger 21 is financially backed by The
Melting Pot Restaurants.The Melting Pot has 170 locations
throughout the United States, Mexico and Canada.
Since The Melting Pot has no experience in China, they will have to meet the country’s expectations before entering the international market with Burger 21.
Current Markets ServedThere are many fast-food
burger joints.Currently rated between
3.5-4 stars on yelp.comHealthier food options: the
veggie burgers, turkey burgers and sweet potato fries.
Food allergy accommodations.
Mission and Vision"To deliver chef-created
taste without the chef price.”
The melting pot wanted to create a modern fast-casual burger restaurant, offering high-quality food in a hip environment appealing to all ages.
GoalsDomestic International
Allow for an additional 6 locations within the U.S. by January 1, 2016
Open a Burger 21 in China by May 31, 2016
Earn 5% profit within the first fiscal year of opening
Product and Service Marketing
Excellent quality and a modern fast- casual dining experience
We will position Burger 21 in the high-traffic area of Beijing, China
Products Include a variety of: Beef, Chicken, Turkey,
Seafood, Sliders and Veggie Burgers.
Gourmet Dogs, Chicken Tenders, Salads, Shakes/Floats, Sundaes, Cookies and Fries.
Market DescriptionSit-down dining is popular
in major cities.Not many restaurants sell
burgers in a healthy style.Population: 1.35 billion
Beijing: 21.15 millionBeijing
Potential Buyers: Families, Teens, Tourists, Allergy Consciences
Economy increased by 7.3 percent in the last quarter of 2014
Chinese citizens vary sharply in their preferences: some wealthy consumers in China are still looking for status labels, while others try not to display their wealth.
Reasons to eat out include: being "on to go“, special occasion or to spend time with family/friends.
Ages 18-34: 3x a weekAges 35-54: 1.8x a weekConsumers tend to stay
within 10 minutes from their home
Market TrendsThe fast casual style of
burger joint dominates the industry growth.
People are more interested in a place where you can add unusual toppings to make their burger unique unlike competing fast-food burger restaurants.
The average check in the U.S. is $10.69.
Burger Consumption
Communications and Transportation
Unless you speak Chinese (Mandarin), it can be difficult to do business in many parts of China without the aid of a translator.
China has transportation systems just like the U.S.
By placing Burger 21 in a city atmosphere, it will make the restaurant easily accessed by any means of transportation.
CompetitionLocally Owned Chain Restaurants
Let’s BurgerHi-Park Bar and GrillKatchup People living in the area for a
long time are more likely go to local restaurants to eat.
Tourist to the area enjoy going to restaurants where they are used to the type of food being served and going to a place that they can’t go to in their home country.
FRIDAYSGreat Leap BrewingHooter’sMcDonaldsAlready established.Tourist know these common
restaurants.Tourists may not want to go
there because it is not new to them.
Market PotentialBurgers have been a favorite
for generations, but customers want more premium product.
A projected increase in 5.3% after our first 3 years and 3.4% by our 5th year.
There are roughly 21.15 million people in our target market, not taking into account tourism.
The restaurant industry is expected to grow by 3.4%.
The fast casual food industry accounted for $69 billion in revenue as of 2013.