Chat with us, powered by LiveChat Project Final Delivereble Table of Content Introduetion Costs of our firm Calculations of costs of our firm Calculation of profit of our firm Prof | EssayAbode

Project Final Delivereble Table of Content Introduetion Costs of our firm Calculations of costs of our firm Calculation of profit of our firm Prof

Project Final Delivereble

Table of Content

Introduetion

Costs of our firm

Calculations of costs of our firm

Calculation of profit of our firm

Profit of our firm

Conclusion

ECON251 Microeconomics

Spring 2022

Section F3

Title: Building (Your firm here, for example, Food) business in ….. (country here)

Final Project Deliverable

Group:

Name and ID

Outline:

1. Market structure of (your) business

(Is it perfectly competitive firm or monopoly? Provide arguments)

2. Fixed and Variable costs of the firm

(Describe what will be the fixed and variable inputs for your new company to start and operate)

3. Cost Structure; Estimations of the fixed and variable costs (provided in the table)

4. Pricing of our product. Assumptions on costs, revenues and profit (look at the price of your product on the market; can you change it? Is demand on your good elastic or inelastic? Can you change the market price?)

5. How different our product is from other products in the same industry (how can you make your product attractive? Will this allow increasing the price?)

6. Firm’s decisions when price will change on the market (when you will experience break-even, gain/profit or loss?)

Concluding remarks (briefly discuss what your plan is to start your business; what will you be producing; price elasticity of demand on your product; main competitors: number and names of companies producing the same/similar products; threats to the company)

,

Running head: TWO TWO FIVE RESTAURANT 1

TWO TWO FIVE RESTAURANT 2

Two Two Five Restaurant

Student Name

Institution Affiliation

Two Two Five Restaurant

Basic Information about the Selected Country

Cardiff, United Kingdom, will be the location of this eatery. Breakfast, lunch, supper, and desserts will be served at this restaurant. UK is an island off the coast of Northern Europe. Sea borders with France, Belgium, the Netherlands and Ireland are all part of the country's maritime borders. The overall population of the United Kingdom is 67.081 million. 39 percent of the population is between the ages of 25 and 54, which is the largest group. 11.49 percent of the population is made up of people between the ages of 15 and 24. In this country, there are more men than women. With a gross domestic profit of $3.44 trillion, it is considered highly developed. Consumer protection and antitrust laws are strictly enforced throughout the country. Customers who purchase defective goods are entitled to a full refund within a predetermined period of time. The repercussions of breaking these laws are severe.

Specific Information about Industry

The Kuwaiti students that study abroad are a potential customer base for two two five restaurant which is a fast food industry. This restaurant has the potential to grow in popularity among expats looking for a taste of home and those curious about some of Kuwait's lesser-known culinary delights, especially as more Kuwaiti students study abroad. Since there are few rivals in this business, the market size is expected to be quite substantial (Rajala et al., 2022). Direct competitors in this industry include Al Wali, Shaam Night, and freej swaeleh, all of which are located in the same neighborhood. In the centre of Cardiff, the Al Waali restaurant serves delicious biryani, burgers, and desserts, mostly for takeout. Sham Nights, a Middle Eastern restaurant in Cardiff, serves charcoal-grilled halal kebabs in an elaborately tiled area with hanging lanterns. Freej swaeleh eatery majors in Arabic kebab which is a popular to several omani students. Related industries that are likely to affect this restaurant include pizza parlours and chicken restaurants.

The success of this market will be largely determined by what clients desire to order when they dine out, whether it is for breakfast, lunch, or supper. As long as this restaurant serves only the greatest Omani cuisine, it may expect a high level of demand for its goods. The prices of the various dishes on sale will also have an impact on the demand for fast food. It is important that the restaurant's meal pricing be as low as possible in order to draw in a large number of students as potential customers. Also, the pricing must be lower than those of the rivals. The restaurant's supply and demand will be affected by the chain of supply (Rajaguru et al., 2022). In order to keep customers happy and increase their demand, it is important to have a stable supply chain in place. In addition to boosting client loyalty, a well-established supply chain will also increase the restaurant's overall profitability and long-term viability. Customers will demand more and more of a restaurant's cuisine if it provides the greatest service.

Specific Information on Company

As one of the few Kuwaiti restaurants in the United Kingdom, the firm wants to take pleasure in its status as one of the few Kuwaiti restaurants in the United Kingdom that serves Omani cuisine such as harees, machbos, kabsa, and tharid, a beef stew served on soaked flatbread. Students who are homesick will have plenty of options on the menu especially since the menu will include meat. The sultanate's pride as a seafaring nation will be reflected in the company's products by featuring fresh grilled sea bass. This further demonstrates Oman's love of fish and will differentiate this company from its rivals. The foods to be produced in this industry will be luxury goods since they are not necessarily a must for the potential clients to consume these products. In addition, the restaurant aims to be a fairly high end eatery.

Because it is not a necessity and there are many alternatives, the restaurant's demand will be elastic. As a result, prices will be fairly elastic, depending on product demand (Rajaguru et al., 2022). Prices will rise in response to increased demand, while prices will fall in response to decreased demand. The prices of the restaurant's meals will range from $4.5 to $19.5. Al wali, which is also located in Cardiff, Shaam Night, and Al Swaeleh are the major rivals of two two five restaurant. In Cardiff, these three restaurants already have a sizable market share. Substitute items are the company's biggest threat. If the price of a substitute product falls, two two five restaurant is likely to lose customers, resulting in losses. If the price of substitutes rises, this company is likely to generate more money because it will attract more customers. If the county's income rises, two restaurants will profit because their customers will have more money to spend on fast food; however, if the county's income falls, there will be less money to spend on fast food, and this company will operate below its profit margins, possibly leading to its closure.

Demand and supply table for machbos

C:UsersjoshDownloadsDesktopdemand and supply..JPG

Shift in demand and supply to the left

C:UsersjoshDownloadsDesktopshift to left.JPG

A shift in demand to the left means that lower quantities of the machbos is demanded. This could be as a result of increase in prices of the machbos or decrease in the clients’ income. A shift to the left in supply means that the quantity supplied by the restaurant has decreased. It could happen as a result of increase in the prices of relevant resources i.e rice which will cause the rise in prices of the machbos therefore lowering demand which then lowers supply. A shift to the left both in demand and supply causes a new equilibrium which is lower than the original one.

Shift in demand and supply to the right

C:UsersjoshDownloadsDesktopdemand and supply increase.JPG

A shift in demand to the right means an increase in demand and could be caused by a decrease in the prices of machbos, increase in income and other factors. A shift in supply to the right implies that the restaurant is supplying more machbos and could be caused by factors such as increase in the profits of the restaurant, fall in cost of production and high prices by competitors. A new equilibrium is formed which is higher than the original equilibrium when demand and supply move to the right.

References

Rajaguru, R., Matanda, M., & Zhang, W. (2022). Supply chain finance in enhancing supply-oriented and demand-oriented performance capabilities – moderating role of perceived partner opportunism. Journal Of Business &Amp; Industrial Marketinghttps://doi.org/10.1108/jbim-11-2020-0487

Rajala, P., Ylä-Kujala, A., Sinkkonen, T., & Kärri, T. (2022). Profitability in construction: how does building renovation business fare compared to new building business. Construction Management And Economics40(3), 223-237. https://doi.org/10.1080/01446193.2022.2032228

Related Tags

Academic APA Assignment Business Capstone College Conclusion Course Day Discussion Double Spaced Essay English Finance General Graduate History Information Justify Literature Management Market Masters Math Minimum MLA Nursing Organizational Outline Pages Paper Presentation Questions Questionnaire Reference Response Response School Subject Slides Sources Student Support Times New Roman Title Topics Word Write Writing