25A – What’s Next?

Step 1: Talk about what you think is what's next in terms of products and services for your venture. 

I do not have any plans on expanding Alfonso's Pizza & Sports Bar, my product, or my market. In my 35 years of experience in the service industry, I've learned the hard way about trying to expand. I believe the saying, "If it ain't broke don't fix it applies here. Sometimes the best move is not to make a move at all. I've seen many restaurants and bars go out of business because they took on to much to fast. Another reason not to expand is to keep your product consistent. Even with great managers, in my experience, its not the same as having a few key people keeping an eye on whats going out. A third reason is overhead. You never know whats around the corner, like whats happening right now. Having to focus on one location of employees, bills (rent especially), closing the store, taxes, repairs and maintenance, I could go on and on, its much easier with one store. 

I am uncomfortable interviewing anyone with risk of the virus, especially being in my 50's for the rest of the questions. 

Comments

  1. Yuma FukamiApril 10, 2020 at 9:51 PM

    Hi, RA. I think the movie TOP GUN is one of the examples you mentioned in your post. Tom cruise has not released the sequel for a long time in order to keep the first one a wonderful movie.
    New release may work greatly or badly. So he kept it until he feels strong needs after a long term. You may feel strong needs for the next or the additional one. If you feel so, it might be a chance to expand your business. You will never know what will happen until you do it. If you did a sufficient market research or need and you still think you should not expand, I think it is the best way not to expand your business. I just think there may be some great employees who can be a next manager of your present restaurant. If so, you can open the next one and you can be a manager of your next restaurant. Good post and stay healthy!

    ReplyDelete
  2. Aislinn HarnettApril 12, 2020 at 4:16 PM

    Hey RA,
    It's great that you know that you don't want to expand too much. It definitely helps draw out customers to your current locations. It sounds like your current locations are doing well, and theres no need to expand a ton.I hope your restaurants are doing okay during this time, hopefully it gets back to normal soon!

    ReplyDelete
  3. Oliver CostantinoApril 13, 2020 at 8:06 AM

    I like the way your are thinking. Owning and operating a restaurant seems like northing more than a handful and expanding only multiplies everything, including cost and risk. I like the use of "If it aint broke don't fix it" when talking about this problem. Best of luck with your restaurant.

    ReplyDelete

Post a Comment

Popular posts from this blog

29A – Venture Concept No. 2

Image
1) Provide, again, your venture concept description,  using this form   Opportunity Alfonso's Pizza and Sports Bar is opportunity in abundance! From individuals from the family to the single person that is searching for a Friday night out to have a beverage and catch a band. Likewise we have children's night with various exercises for the youngsters. Conveyance proves to be useful on a portion of the more slow evenings to keep numbers operating at a profit. I consider myself to be proficient in what's in store in my industry, each new interest conveys new troubles and opportunities to the table. I would start with a lone zone, permit it 5 years, change as per the market, and choose a decision on my best strategy (another region and where). From past experience Franchise associations can be perilous, I would take as a lot of time as is required and find the right street to look for after. Florida will transform into a relic of past occasions in my future as I'v...
Read more

14A – Halfway Reflection

Image
1) Tenaciousness is a competency. What are the behaviors that you have used (or developed) to keep up with the requirements of this course?  Some of my behaviors that I have used come from 2 sources. First, my last 3 years in Valencia Community College in Orlando and obtained my AA in Business with a minor in IT. In many ways, I've wished  I might have continued my education  at Valencia to obtain my BA. I did most of my classes on-site and had an amazing experience there. The staff, Professors, class mates were all fantastic! It was definitely a positive "succeed type of atmosphere. My second source was my past entrepreneurship of starting restaurants over the last almost 30 years. It will make a man or woman out of you real quick. The work never stops ! One thing I've had to adapt to is how the assignments for the week are split up timeline wise. I'm more of a roll up my sleeves and lets get this done kind of person.  2) Tenaciou...
Read more

4A – Forming An Opportunity Belief

4A – Forming An Opportunity Belief 1) Your beginning point. Do you have a belief, supposition, or feeling than an opportunity exists? This belief may have come from your completion of prior exercises. Only select one belief. I believe there is an opportunity in replacing or improving on the Canvas digital Platform.  2) Describe your belief. Be sure to include a few things. First, what is the unmet need? Second, who has the need? Third, where did the need come from (is it new, or has it always existed)? Four, what are people doing to meet this need now? (These four elements are important -- we'll come back to these.) At this point, how sure are you (say, in percent terms) that this opportunity exists? The unmet need is all the time wasted on Canvas every semester in trying to figure out every Professor’s way in which they arrange his dashboard concerning finding assignments, lectures, quizzes, etc. Not to mention connecting to digital books and outside ...
Read more