Tianjin Restaurant 7 - 10 Pages Cover Page Part 1 The Busine

Tianjin Restaurant7 10pagescover Pagepart 1 The Business Modelintrod

In a post-pandemic world, countries are gradually recovering from the COVID-19 crisis, with infection rates decreasing and restrictions easing, including the reopening of restaurants. In China, stringent health measures like mask mandates and temperature checks have been implemented to ensure safety and facilitate business recovery (Nielsen, 2020). As global vaccination efforts progress, a significant rebound in tourism and university enrollments is anticipated, leading to increased demand for dining options. Similarly, in Victoria, British Columbia, the revival of the restaurant sector is expected to benefit from these trends.

This project proposes launching a new restaurant in Victoria, BC, focusing on Tianjin cuisine, a regional Chinese culinary tradition deeply rooted in local history and cultural exchange. The restaurant aims to serve authentic Tianjin dishes, complemented by snack foods and cakes from Daqiaodao, a renowned local pastry shop, to enhance competitiveness and diversify revenue streams. The restaurant will be a full-service establishment offering dine-in and take-out options, operating throughout the day to serve breakfast, lunch, and dinner, and serving alcohol during dinner hours.

The primary target market includes international students in the Greater Victoria area, with a supplementary focus on local residents. International students, numbering approximately 8,400 in the region (Watts, 2017), represent a vital customer base due to their frequent need for convenient dining options, lack of time or ability to cook, and cultural interest in diverse cuisines. Post-pandemic, their presence is expected to grow, providing steady demand for the restaurant. The inclusion of Tianjin cuisine, known for its inclusive recipes blending various Chinese flavors, aims to appeal to a broad demographic, including not only Chinese expatriates but also local residents and students—both domestic and international.

The restaurant's ownership will initially be individual to facilitate management, with potential franchising in future expansion phases. This structure allows flexibility in operations and quick decision-making as the business establishes itself in the local market.

Feasibility Analysis

The proposed restaurant will be located in Coldwood, Victoria, BC, specifically along Sooke Road, a major arterial route connecting Langford, Metchosin, Colwood, and Westshore. This location benefits from high visibility and traffic during rush hours, attracting both local residents and commuters.

Three potential sites are under consideration. The first is near the Royal Roads University entrance, adjacent to the Royal Roads Café—an existing establishment that could be acquired to save on construction costs. The second involves purchasing and renovating the current Royal Roads Café, estimated at around 430,000 CAD, factoring in acquisition and renovation expenses. The third option is leasing space at Colwood Corners, with an estimated monthly rent of 15,000 CAD and initial inventory investment of approximately 200,000 CAD.

The restaurant will be approximately 1,000 square feet, full-service, with an emphasis on imported ingredients from China to ensure authentic cuisine. Construction costs for building a new restaurant in a non-commercial, less busy area are estimated at 420,000–485,000 CAD, leading to an initial investment of about 470,000 CAD. Purchasing an existing restaurant, including renovations, is projected at around 430,000 CAD, which is preferred for being cost-effective and offering immediate operational benefits.

The market potential remains promising, given the location's high traffic volume and the presence of a diverse local demographic. The competition includes established Asian cuisine restaurants in Langford, such as Green Leaf Vietnamese Bistro, Asian Noodle House, and May Gold Village. However, their limitations in parking and capacity during peak hours present opportunities for the proposed Tianjin restaurant to succeed by offering better accessibility and service.

Ownership and Management

The restaurant will be owned individually, streamlining management and operational decisions. Future plans include franchise development once the business secures a solid presence and reputation in the local market.

Conclusion

The proposed Tianjin restaurant in Victoria, BC, is positioned to capitalize on post-pandemic recovery trends, demographic shifts, and the growing appreciation for diverse Chinese cuisines. Strategic location selection, targeted marketing towards international students and local residents, and a focus on authentic culinary offerings form the core of this venture’s success potential. By leveraging the unique aspects of Tianjin cuisine and highlighting the partnership with Daqiaodao, the business aims to establish itself as a reputable dining destination with prospects for expansion and franchising.

References

• Cchatty. (n.d.). Tianjin Cuisine. Retrieved from [relevant URL]
• Colwood Corners. (n.d.). Grocery-anchored retail opportunities. Retrieved from [URL]
• Entrepreneur. (n.d.). Here is how much it costs to build a restaurant (Infographic). Retrieved from [URL]
• Nielsen. (2020). Foodservice in a post-pandemic world. Retrieved from [URL]
• Smith, C. (2020). Decline in international students is having significant impact on B.C. economy. Retrieved from [URL]
• Watts, R. (2017). Partnership seeks to boost international student numbers. Time Colonist. Retrieved from [URL]