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The market plan is divided into five different segments including a situational analysis that undertakes a critical analysis of the target market.
With cozy cottages and classy hotels, the tourism industry which directly influences the culinary market, is projected to continuously grow in the coming years.
It is in this view that Joey’s restaurants aims at opening another classy restaurant in Whitby to add on its already food outlet eateries in among other locations Cornwall, Brantford, Thunder Bay, and Leamington.
The continued economic and political stability in Canada has averted issues of inflation and economic downturns, which would eventually affect the customer buying powers in the Durham Region (Macdonald, 2007).
Furthermore, the restaurant is favored by the Canadian regulatory system, which focuses at protecting and promoting the local businesses.
Besides its well-known restaurants, within Canada, the chain of restaurants has more than 100 franchise locations in North America implying that it has its presence in relatively large geographical locations (“Joey’s – Home of Canada’s favourite Fish & Chips! Its strong financial strengths, which have been growing over the years, provide a good opportunity from where to source the required capital in launching the projected new restaurant outlet in Whitby.
Nevertheless, the restaurant leverages on the diverse Canadian population.
This has been attributed to the fact that Whitby is a seaside town and hence a tourist attraction center as people flock to experience the off-shore life and the diverse menu of seafood offered by the many luxurious beach hotels located in the region (Shurtleff & Aoyagi, 2010).
Whitby, like other towns in the Durham Region, is characterized by rapidly growing population.
The town is also well known for its friendliness and a raft of events, which promote community involvement and is committed to feeling every person, regardless of background feel appreciated as an integral part of the community.
To appeal to the diverse needs of all of its residents, the town has well developed and designated facilities, programs, and activity centers.