The industry that a restaurant falls under is the Hospitality industry. The Hospitality industry is vast and diverse, so restaurants would further be placed into the Restaurants and Food Services industry. This subset is divided into two groups: food preparers and servers and the producers and distributors. Restaurants utilize the prepares and servers but deal with the producers and distributors. The restaurant and food service industry is a $660 billion industry in this country (Restaurants, 1, n.d.). While it may seem that the market in Ashland is pretty saturated with restaurants and fast food places, the research shows that new businesses fare very well in our small town.
The business that I wish to open is a small bistro in Ashland, Virginia. Our dream situation would be to partner with local vendors and farmers to provide fresh and seasonal tastings. Our ideal clientele would be upper-middle-class people that appreciate a creative spin on old favorite dishes in a quaint yet modern atmosphere. Ashland, Virginia, also affectionately known as The Center of the Universe, is a haven for unique and progressive restaurants. This type of business is a dream of mine and my husband’s and is the catalyst that ignited the passion in me to return to school to obtain my degree. I lead a very food-centric life and was fortunate enough to marry a man that not only loves to cook but is very successful at cooking. Our dream is to bring happiness to people through the food that we make. We believe that this business could be successful because of the market analysis that we have performed in Ashland, Virginia and the conversations with local business owners, farmers, and vendors. The closest competitor to the bistro we wish to open is a small, informal restaurant called the Caboose that also partners with local vendors and farmers. It has been open for four years and is still very successful. It is obvious they have done some market research and seem to know just when to add something new and exciting to their lineup.