Japan

With more than 190,000 bars and restaurants in Tokyo, it is plain to see that the Japanese include wining and dining as a major part of their lifestyle.* With so many eateries flourishing in the Tokyo area, the idea to establish our restaurant is an encouraging one. The rapid influx of tourists as well as locals creates a huge customer base for the restaurant even before our marketing tactics are put into action. The decision to locate the restaurant in the downtown Tokyo area also creates easy access for our customers who are visiting the city and sightseeing. The population of Tokyo is 12.36 million people. To put that into perspective, the population of New York City is only 8.14 million so again the pros of having a restaurant in this densely populated area far outweigh the cons. The majority of the restaurants that reside in Tokyo conform to the Japanese cuisine theme which means that by placing our restaurant in this area we will be offering the people a much greater variety of food. Also, at approximately 15$ for a dinner, our restaurant fits right in with the price ranges surrounding us in the down town Tokyo area. With our mainly beef-based menu we will be offering a different style of food that the Japanese already include in their diets. Overall, we feel as if Tokyo is a prime location for the expansion of Wyatt Earp Steakhouse.

*http://travel2.nytimes.com/top/features/travel/destinations/asia/japan/tokyo/restaurant_listings.html

Demographics in Japan & Tokyo

As you have probably heard from my coworkers, Wyatt Earp Steakhouse in Japan would become an excellent investment for us. Our profit in that location would have a tremendous boost. Currently Japan’s population is holding strong at 128,085,000 (“Demographics” 1). This is because the “High Sanitary and health standards in Japan produce a life expectancy exceeding that of any other nation in the world” (1). Luckily it is greatly composed of the working population (15-64) by 65.7% (5). Thus implying that since the majority of Japanese residents are working, they are better able to afford luxury expenses such as shopping and going out to eat. Also meaning that the Economic Environment is more likely to be beneficial to us rather than act like a barrier. “By world standards, the Japanese enjoy a high standard of living and nearly 90% of the population consider themselves part of the middle class” (2). Their first language is obviously Japanese but they greatly emphasis English as a second language (7). This makes our hearty greetings, “howdy partner” a little better received and less alien to them.

Our entrees consists of lots of beef and very little greenery, however this won’t be a problem. The Japanese are fond of meat, especially their favorite “beef teriyaki.” Saving us money, that could be utilized on other assets such as land. “Japan’s population density is 339 persons per square kilometer according to the United Nations World Populations Prospects Report as of July 2005” (1) because of this Japan’s land prices are awfully high. This is something that at first may sound alarming but we must remember that we must not get discouraged because the higher the risk the higher the rewards. We might end up paying a little extra for land but ultimately we will become very profitable. However we decided that we would like to centralize our business in a well known area where it has already achieved global accreditation for success. What better place than Tokyo.

“About 12 million people (10 percent of Japan’s population) live in Tokyo. It is the center region of the world’s most populous metropolitan area. It is considered one of the world’s major global cities and a mega city” (“Tokyo” 1). Income in Investment alone hits a high US 21 Billion. This is due to the fact that the middle class has dominated the population thus always efficiently producing goods. Also Tokyo, Japan is well-known for being on the top of the food chain for their advanced technology in many things.

The only negative aspect of Japan is the fact that they dislike foreigners. Possibly making it difficult for our business to prosper once established. “Japanese society, with its ideology of homogeneity, has traditionally been intolerant of ethnic and other differences. People identified as different might be considered polluted” (3).

Tokyo. 27 Sept. 2006. Wikipedia. 28 Sept. 2006

Demographics of Japan. 26 Sept. 2006. Wikipedia. 28 Sept. 2006

Cultural Traits and Diet of the Japanese People

The Japanese people have a different way