College - Author 1
College of Agriculture, Food and Environmental Sciences
Department - Author 1
Degree Name - Author 1
BS in Agricultural Business
Xiaowei Cai, College of Agricultural, Food, and Environmental Sciences, Agribusiness Department
This study was carried out to determine whether it would be feasible to open a new restaurant in downtown Ventura. The study would also provide information on the type of restaurant and bar individuals prefer and the target market of the new restaurant.
The project’s analysis was conducted by putting together a projected income statement to determine the amount of profit that could be made in the first 3 years of the operation. To find out the preferences of Ventura’s consumers and to determine the target market a survey was conducted and analyzed.
According to the results of the analysis, a new restaurant in Ventura would be feasible. The projected income statement showed that a profit would be made after the first year and the interest of people who would like to try a new restaurant was high. A clear target market was also found which were Caucasian women, who have attended or graduated from college, that are 25 to 54 years old who are employed full time, in sales and office occupations and professional or related occupations, with an income of $80,000 or more with three to four people living in the household.