Lately, I have been stumped as to how my business team can make our business plan more original. After analyzing Porter’s 5 Forces in last class, it become clear that the restaurant industry is extremely crowded and it is a near impossibility to open a standout steakhouse these days.  When our team attempted to write a value proposition for our company, 1845 Steakhouse, it was clear we had very poor points of differentiation.

http://www.vegaschatter.com/tag/Steakhouses

After much thought, I have decided that the best way to differentiate a steakhouse is to make it steakless.  If I were attempting to break into the steakhouse business, I believe an all-vegetarian restaurant with the vibe and feel of any hip, new-age steakhouse would our most promising option.  No one has attempted to turn a steakhouse meatless, making this the most promising section of the restaurant industry.  In a target audience such of the young, up-and-coming Vancourites who eat-out at the funkiest restaurants, this concept would be extremely successful in either downtown Vancouver or the Kitsilano area.  Living at UBC and going out to dinner at restaurants such as The Naam, Burgoo and The Eatery – the most original restaurants in Kitsilano – I have been inspired to differentiate our steakhouse like never before.