Founded in Straun, Ontario by Richard Lynch, the Fork and Dagger Pub was a growing business and showed much success after opening in 1993. By using word of mouth advertising with the high traffic taken in from playing the Norway Olympics in the pub, the Fork and Dagger Pub found itself with a lot of sports enthusiasts as regular customers as well as students from local schools. But since 2008, the Fork and Dagger Pub has declined in revenue and local patrons have seemed to vanish. With new competitors in the area, and net income decreasing over $100,000 in four years- Richard has decided to let his two sons, Jason & Bradley, both working at the establishment for over 10 years, to create business proposals to help their revenue grow again. As well as accepting the business proposal, Richard is close to retirement and his decision will most likely effect who will gain control of the pub.
Since 2008, the Fork and Dagger Pub has had an overall decrease in sales and revenue, continuing up to present 2012. To properly come up with a solution to increase the Pub’s sales, the reasons for decline must be identified and acknowledged. The first major reason for decline would be the economic recession to hit Canada in 2007. This would explain why Jason noticed that patron’s are purchasing less food or are having overall smaller orders. External factors like recession in the community will affect all sorts of businesses as well as the overall economic status. The next reason for deterioration would be the growing pub & bar venues appearing in Straun, Ontario. With direct competition resembling Big Joe’s Sports Bar & The Shark Tank, once regular customers are now wandering to try new venues. In addition, these new venues are also offering services like free karaoke, live bands & pool tables for socializing. While the Fork and Dagger Pub do not offer any additional functions like that, out of fear or losing space for tables or destroying the ‘atmosphere’ of the current...
Please join StudyMode to read the full document