Texas Roadhouse

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Texas Roadhouse

Table of Contents
Executive Summary……………………………………………………………………..3-4 SWOT Analysis…………………………………………………………………………4-5 Competitor Analysis……………………………………………………………….……6-7 Target Market Determination……………………………………………………….….7-8 Branding…………………………………………………………………………….…..8-9 4 P’s of Marketing……………………………………………………………………..9-10 Plan for Implementation……………………………………………………………...10-12 Product Service Life Cycle…………………………………………………………...12-13 Conclusion……………………………………………………………………………….13 Bibliography……………………………………………………………………………..14

Executive Summary

"We wanted to provide a place that the whole family could enjoy," says Taylor. "Texas Roadhouse is about a hearty, good meal with service that is friendly, energetic, and enthusiastic. Life should be fun - so the workplace needs to reflect that as well - and that is why we put our employees first."

Texas Roadhouse, Inc., incorporated in 2004, is a full-service, casual dining restaurant chain. It offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. The Company also offers its guests a selection of ribs, fish, seafood, chicken and vegetable plates, and an assortment of hamburgers, salads and sandwiches. During the fiscal year ended December 26, 2006 there were 251 Texas Roadhouse restaurants operating in 43 states. The Company owned and operated 163 restaurants in 37 states and franchised and licensed an additional 88 restaurants in 23 states. Over the past five years, the total number of Texas Roadhouse Company and franchise restaurants increased from 120 restaurants as of the end of 2001 to 251 restaurants as of the end of 2006, representing a 15.9% compounded annual growth rate. Over the same period, our revenue increased from $159.9 million to $597.1 million, our income from operations increased from $13.7 million to $54.4 million, and our net income increased from $7.3 million to $34.0 million, representing compounded annual growth rates of 30.2%, 31.8% and 36.1%, respectively.

The Texas Roadhouse is a place the whole family can enjoy great food, in a fun-filled, lively atmosphere at an affordable price. In 2003, we were voted the #1 Steakhouse in America by Restaurants and Institutions Magazine Consumer Choice Survey, and in 2004 Best Steakhouse Value and Menu Variety! So we really do have something for just about everyone.

At the Texas Roadhouse, Legendary Service for every guest and Legendary Fun with our employees, are also main ingredients in our recipe for success. Our team also has an incredible sense of pride in everything we do. We want our guests to have such a good time they'll want to come back again tomorrow.

Furthermore, it’s clear that the Texas Roadhouse would benefit from the expansion of its store hours. Presently, the Texas Roadhouse only operates on the weekdays during dinner hours. On the weekends, the Texas Roadhouse operates both during lunch hours and dinner hours. With the recent success of the Texas Roadhouse over the past few years, it’s evident that the Texas Roadhouse would benefit and increase their revenues a great deal if they were to operate during lunch hours as well as dinner hours. SWOT Analysis

The SWOT Analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in the Texas Roadhouse’s business venture. It involves specifying the objective of the business venture, which is to expand its store hours to include lunch during the weekdays, as well as identifying the internal and external factors that are favorable and unfavorable to achieving our objective. Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the our objective are to be derived from the SWOTs. First, we have to determine whether the objective is attainable, given the SWOTs. If the objective is NOT attainable a different objective must be selected and the...
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