HFT 1000 (with Complete Solutions)

Independent restaurants "indies" correct answers -typically owned by one or more proprietors -involved in day-to-day operations of business -each functions independently -not affiliated with any national name or brand -offer the owner independence, creativity and flexibility -risks: not as popular, owners lack knowledge and expertise necessary for success, owners do not have cash flow to last several months before profit can be made Franchises correct answers -major driving force in the restaurant industry -uses other people's money to expand quickly and rapidly -drawbacks: initial franchise fees, royalty fees, construction fees, limited flexibility and creativity because the owner must comply with the terms of the franchise -benefits: proven concept and less likelihood of failure Chain restaurants correct answers -group of restaurants each identical in market, concept, design, service, food and name - Ex) Applebee's -can be franchise or company owned -typically independently owned Fine dining restaurants correct answers -offers good selection -at least 15 or more different entrees -cooked to order with nearly all food being made on the premises from scratch -uses raw or fresh ingredients -may be formal or casual and further categorized by price, decor/atmosphere, level or formality and menu -experience: steak house, ethnic, celebrity and theme restaurants Fusion correct answers -a blend of two cuisines, such as Italian and Japanese Celebrity owned correct answers -based on celebrity like Wolfgang Puck Casual dining correct answers -relaxed -Fridays, Olive Garden and Macaroni Grill -menu is limited to about 40 items Family restaurants correct answers -evolved from coffee-shop style -individual or family owned -generally located in or with easy access to the suburbs Ethnic restaurants correct answers -independently owned and operated -Mexican is the fastest growing segment of ethnic restaurants -Taco Bell