I’m stuck on a Business question and need an explanation.
For this exercise, assume the role of a potential restaurant owner who needs to create a profile of the Kelowna market. Use the questions below to create a profile of the restaurant market and industry in Kelowna. Identify your sources using APA citation and referencing.
- What is the current size of Kelowna in terms of population (people) and number of households?
- Create a brief demographic outline of the restaurant market in Kelowna (population 18 years of age and older). Look specifically at age, household income, gender, and household composition. Can you identify any specific segments that might be of interest to a restaurant?
- How many restaurants are there in Kelowna? Identify key potential competitors for a number different types of restaurants in the Kelowna market. (I.e. MacDonald’s might be a key competitor in the fast food segment, and Raudz Regional Table might be a key competitor in the upscale market.
- What is the annual sales revenue for the restaurant industry in Canada? Can you find this information for Kelowna specifically?