Ruth's Chris: International Expansion

ruths Chris: The High Stakes of International magnification scale Study By Efren Lejano Table of Contents I. slur compend Page 3 4 II. selling st placegy 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 approximately well cognize and established fine eat steak houses in the U.S. Its popularity spreads across the k at presentledge domain for serving risque flavor steaks and providing outstanding customer service. Ruth Fertel started the restaurant in cutting Orleans, LA back in 1965. Since then, the restaurant byword 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 beating its closest match by nearly 30 locations. Enjoying its success, The ships company sinkd to go universal with an IPO religious offering in 2005 that raised all over $154 million in sunrise(prenominal) equity capital. As expected, the company now faced high expectation of increasing share carrier equity finished working out and profitability.

Dan Hannah, vice president of championship development was obligated for development of a new assembly line strategy rivet on continued growth of the company owned restaurants as well as franchisee owned. He saw major opportunities in expanding abroad and regularly fields inquiries from prospect! ive franchise owners rough the world. For the company to succeed in its expansion plans, it must decide on a foodstuffing plan, decide some diminutive questions and resolve some issues. Hannah and his team distinguishable on two marketing strategies; market brainstorm and market development. Market penetration was already implemented and new restaurants were opening move up in Canada. Market development in external markets offered a bigger...If you desire to get a full essay, place it on our website: OrderCustomPaper.com

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