BUSINESS OPPURTUNITY IN FAST FOOD INDUSTRY IN LAHORE
Department of management sciences
Institute of management sciences (Pak-AIMS)
Abstract- The study has been to find out the business opportunity in fast food industry and the factors associated with its expansion at such a rapid face. The study has revealed such valuable factors associated with the fast food consumption and fast food business which provide us with significant proof to invest in the fast food business. The study is exploratory in nature. This is an applied research which has given positive sign for the investment in the fast food business.
Today in the 21st century the life is so fast paced that people even do not have the time for making themselves proper meals at homes. This has also taken people away from healthy food and hygienic food consumption. This fast paced life style has lead people towards adapting new ways of eating. It has also changed the culture of the country; people are significantly indulged in consumption of fast food. People are tilted towards consuming fast food because it involves less hustle and is easy to get. This is the point where fast food industry has grown and many large brands like Hardies, McDonalds, KFC and many other local brands have entered the industry in Pakistan. With the intervention of these fast food companies entering in the market it has turned fast food business into a golden opportunity for investment and to earn more and more profit. This research work is carried to identify the factors that are pivotal towards the growth in fast food industry in Pakistan. The focus of the study is to find out the most important factors that are associated with success of fast food industry in Pakistan. The research will also identify the factors that has made this business such a great success mantra in the country. Secondly the literature showed that significant level of increase in the restaurants in Lahore city. The number of increased restaurants in Lahore is a clear signal towards the change.
“New restaurants in Lahore”
B). Problem definition
“Business opportunity in food industry in Lahore”
II. Preliminary Data Gathering
The tools that have been used over here are as follows:
▪ Literature review
A). Literature review:
The first step towards the data gathering was the literature review. The literature review showed that there is a significant change in the culture of the citizens of Lahore. The literature showed that female induction into the society has played a great role in changing the eating habits of the people. The research work done previously by the students of Pak Aims 081 batch “Hunter and Kd.” The research report served as the base for this research work. It helped to identify that there is a growing business opportunity. It also showed that there were some factors discussed that were playing a pivotal role in the fast growing fast food business. Secondly the literature showed that significant level of increase in the restaurants in Lahore city. The number of increased restaurants in Lahore is a clear signal towards the change. The literature showed that due to fast paced and busy life people have changed their consumption culture. The reason is that people want convenience. The age group which is from 10 to 35, the targeted for this industry, is almost 60% of total population as shown in the age pyramid.
It is expected that the target age group is going to be doubled till 2020. So there is a lot of room for new business to enter. Then changing trends of people regarding hoteling and social gathering has changed a lot. The major role is played by the presence of women in the education sector and job market. Now almost there is a 60, 40 ratio of men and women studying or working in...
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