Assignment 1: Business Model
After reviewing the videos and articles, I found that the business models discussed: manufacturer, distributor, online or brick and mortar, didn’t pertain to the small restaurant or bistro that we dream of opening. Initially, I found three food business models: the Food Truck, Quick-Serve, and Bar business models that still were not the right fit. The food truck business model isn’t a good fit for our ideal business because we are not interested in the mobile food industry and learning to navigate local laws regarding food trucks and we don’t have a designated location where we can prep the things that cannot be cooked in the food truck. The Quick-Serve Restaurant or Coffee Shop is a little too informal for our ideal business. The Bar option in the article does not appeal to our business plan because we are looking for something more intimate and unique. While we intend to serve wine and beer, we wish that the food would be a more significant focus than alcohol.
The business model that works for Lomati’S is the Bistro Restaurant model. The essential pieces of bistro or restaurant model are the unique value that the business will bring to the area, the menu selection, and a thorough appraisal of competing restaurants. While the dictionary defines a bistro as merely a small restaurant, the name has become synonymous with warm and quaint atmosphere, strong support of the local community and distributors and delicious, yet, out of the box menu selections. The goals of Lomati’S tie perfectly with Smith’s definition of a bistro, we wish to partner with local farmers and suppliers and our local town is very supportive of new and quaint businesses with menus inspired from seasonal items. The directions in the article also helped lay a more solid foundation for the research we need to invest our time to more completely tie up the “business end” or our Lomati’S dream.
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BUS 313 Assignment 1 - Business Model.docx