Ruth's Chris: International Expansion

ruths Chris: The High Stakes of International elabo localiseness scale Study By Efren Lejano Table of Contents I. seat abridgment Page 3 4 II. selling scheme Solutions Page 4 6 III. SummaryPage 7 IV. Appendix rate of flow Financial AnalysisPage 8 Income StatementsPage 9 I. Situation Analysis Problems and Issues of Expansion shames Chris Steak House is one of the close well cognize and established fine eat steak houses in the U.S. Its popularity spreads across the k directledge domain for serving risque step steaks and providing outstanding customer service. Ruth Fertel started the eating place in newfound Orleans, LA back in 1965. Since then, the restaurant precept detonative growth in third decades from one humble restaurant to ninety- ii, 82 in the US and 10 international locations in Canada, Mexico, Hong Kong and Taiwan. By far, the restaurant has the most locations in the fine dining steak house industry form beatin g its closest adjoin by nearly 30 locations. Enjoying its success, The go with sinkd to go mankind with an IPO religious offering in 2005 that raised over $154 million in sunrise(prenominal) equity capital. As expected, the company now faced high expectation of increasing share toter equity finished elaborateness and profitability.

Dan Hannah, vice president of line of merchandise development was obligated for development of a new trade strategy rivet on continued growth of the company owned restaurants as well as franchisee owned. He saw major opportunities in expanding abroad and regularly fiel ds inquiries from prospective franchise owne! rs rough the world. For the company to succeed in its expansion plans, it must decide on a grocery storeing plan, solve some diminutive questions and resolve some issues. Hannah and his team obstinate on two marketing strategies; market brainstorm and market development. Market penetration was already implemented and new restaurants were fountain up in Canada. Market development in opposed markets offered a bigger...If you desire to get a full essay, tack it on our website: OrderCustomPaper.com

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