BUSINESS IDEA
A business idea can be defined as a concept used for commercial purposes. The business idea is centered on the product or service you are willing to sell. Here the business idea is about starting fast food stores in the Indian market. Carrying out this idea is not an easy task, as the fast food business is very competitive and entry into new market needs a lot of research. The business idea of starting fast food stores must include the following details:
The Product or Service Description
The fast food business will offer a variety of products like burgers, spring rolls, pizza, and Mexican food that has a lot of beans and other vegetables, but for the Indian market, the Mexican meats will be taken off the menu. For example, a vegetarian burrito would work very well in India, which will be all made up of only vegetables. To make fast food items more innovative, a taste of Indian spices will be added. The vegetarian fast food will be offered due to religious values of Indian consumers. Since many Hindus will not eat at a restaurant if there is non-vegetarian food cooked in the same kitchen, the new concept would be to have side by side outlets that would show green for vegetarian food and a red restaurant for non-vegetarian food. Ice creams will be the main part of desserts, including low-fat and sugar-free ice creams.
Need of the product
Research will be conducted prior to the launch of products in India to analyze the level of customer appreciation of the product. The idea of vegetarian fast food is designed especially for the majority of vegetarian consumers in India. It is hoped that they will like the idea and welcome the product. But the product must be unique from the products of competitors in the market. This is why having a place with mixed type foods – burgers, pizzas, and burritos would work well.
Innovation
There are many players in the fast food industry in Indian market such as, KFC, McDonald’s, and local fast food chains. The business will have to face both types of competition from local and international fast food stores. Therefore, the product needs to be unique from other competitors’ products by conducting a study of the consumer preferences and tastes. Research will be done about Indian markets, local trends, preferences of consumers, and potential demand of the product.
India has a large vegetarian population, so to target them, the fast food business will use a completely distinct menu and outlet of vegetarian items, side by side with a non-vegetarian outlet, would be an ‘Innovative strategy.’
A business idea can be defined as a concept used for commercial purposes. The business idea is centered on the product or service you are willing to sell. Here the business idea is about starting fast food stores in the Indian market. Carrying out this idea is not an easy task, as the fast food business is very competitive and entry into new market needs a lot of research. The business idea of starting fast food stores must include the following details:
The Product or Service Description
The fast food business will offer a variety of products like burgers, spring rolls, pizza, and Mexican food that has a lot of beans and other vegetables, but for the Indian market, the Mexican meats will be taken off the menu. For example, a vegetarian burrito would work very well in India, which will be all made up of only vegetables. To make fast food items more innovative, a taste of Indian spices will be added. The vegetarian fast food will be offered due to religious values of Indian consumers. Since many Hindus will not eat at a restaurant if there is non-vegetarian food cooked in the same kitchen, the new concept would be to have side by side outlets that would show green for vegetarian food and a red restaurant for non-vegetarian food. Ice creams will be the main part of desserts, including low-fat and sugar-free ice creams.
Need of the product
Research will be conducted prior to the launch of products in India to analyze the level of customer appreciation of the product. The idea of vegetarian fast food is designed especially for the majority of vegetarian consumers in India. It is hoped that they will like the idea and welcome the product. But the product must be unique from the products of competitors in the market. This is why having a place with mixed type foods – burgers, pizzas, and burritos would work well.
Innovation
There are many players in the fast food industry in Indian market such as, KFC, McDonald’s, and local fast food chains. The business will have to face both types of competition from local and international fast food stores. Therefore, the product needs to be unique from other competitors’ products by conducting a study of the consumer preferences and tastes. Research will be done about Indian markets, local trends, preferences of consumers, and potential demand of the product.
India has a large vegetarian population, so to target them, the fast food business will use a completely distinct menu and outlet of vegetarian items, side by side with a non-vegetarian outlet, would be an ‘Innovative strategy.’