How do food businesses become successful?

During the first two quarters of economics class, I have come to many conclusions about what how to run a food business profitability. First, I decided to look at a successful restaurant, Panera, and discovered that they developed their company to fill a niche market-healthy, higher end, fast, casual food. They created an ambience so people would want to stay there, meet there and work there. I researched information on Forbes Magazine website.

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In my second blog post, I argued that restaurants need to sell popular items in order to achieve a successful business. Examples of the most popular meals in the United States include sandwiches, burgers, bagels, pastries, eggs and salads. I discovered that American are more choosy about what they eat for breakfast or lunch, but for dinner, many Americans are willing to eat more diverse foods. Most importantly, they want food items that taste good. People nowadays are also willing to pay more for food products without GMO's.

In my third blog post, I went over what a restaurant need to do in order to open and then, sustain business. Currently, it is extremely difficult to build and sustain a restaurant business. Deluxe restaurants have declined 10-15%. A shocking 26% of independent restaurants fail in the first year. I then dive into the most important seven tactics I believe to incorporate in your restaurant business to achieve success and avoid going out of business.

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In my fourth blog post I go over what one needs to do in order to expand his or her food business. Expansion should only be implicated when the food business is stable in its foundation. It talks about opening up a new restaurant in another location, and all of the details that need to be considered and under control in order to make sure opening up another location is a good idea. It also brings about the idea od diversifying your business and doing so in order to successfully expand.