Alice, the founder’s granddaughter is a member of new generation is taking over a mature family owned business. Over the past 7-years the business has been gradually declining. The clients are aging and moving away from the area as they enter retirement. The staff is also approaching retirement and loyal long-term employees may soon be leaving as well. Alice has been around the diner all of her life and really want to run it as her own business. It has been in the family for two generations. Her family even owns the building & property. She has prepared herself for this opportunity. She has an MBA and a MS in Hospitality & Culinary Arts.
Cambridge is a great market with new incoming student every years. But Cambridge is becoming increasingly expensive. It is also increasing in ethnic diversity. As the ethnicity of the population expands the existing restaurants are also increasing the diversity of their menus. Many new competitors are entering the area offering diverse menus, environments and price options.
NEED THE FOLLOWING:
SWOT ANALYSIS & SITUATION ANALYSIS