The idea of having a restaurant at Milot for tourist from across theworld requires refinement. There are various risk factors that needto be considered, as well as a precise and direct mission statement.The mission statement must be one that describes what the restaurantseeks to do and the services it provides to the visitors. The missionstatement must describe the uniqueness of the restaurant and thespecial services that the restaurant offers. Having taken over thisproject of building the restaurant, I would propose the followingmission statement. The restaurant that provides you with a tasteof Haitian culture, foods, comfort and a relaxing environment as youtour neighboring Haitian historical sites.
Considering the fact that the region where the restaurant has nothad any tourists for decades, it is evident that there are a numberof risk factors that are associated with the project. It is alsoevident from the video that Lionel borrowed approximately $100, 000to develop the restaurant (Davidson, 2011). This enhances the riskrepaying the loan. The fact that the restaurant is build in poortown, that is described as being filthy and with a poor economy, itis clear that various risk factors will come to play. There are somerisk factors that are more pronounced in this project than others.Top on the list would be the prospect for long term funding. As it isevident from the video, Lionel has publicly admitted that there areno tourists from the international market that are expected.According to the developer, Lionel Pressoir, the local people andother expatriates in the town of Milot cannot provide returns thatcan generate any profits. The restaurant needs foreign tourists inorder to make profits and repay the money that Lionel borrowed. Thereis no clear prospect for long term funding for the project. This isinformed by the fact that the country has had an issue with touristsfor various decades. There needed be a clear plan which lays down thesteps which would lead to profit making for the restaurant.
The basic enterprise concept of developing a huge restaurant in sucha poor neighborhood is by itself a flawed idea. Whereas therestaurant may take numerous years before it starts to earn a profit,it evident that the restaurant may not have any income in the nearfuture. This is a highly risky scenario considering that therestaurant will need employees and hence money to pay them (Guo &Bielefeld, 2014). Additionally, the restaurant will also need fundsto run the administrative activities. Whereas the idea of arestaurant in Haiti might not be necessarily wrong, it is abundantlyclear that idea of having the restaurant in Milot town center is aflawed idea. This enterprise concept is also wrong in that there areno roads leading to the area. In other words, the place is not openedup hence inaccessible (Davidson, 2011). Additionally, the videoindicates that the places where international tourists can visit aremore or less to do with the history of Haiti. This includes nearbyplaces such as Kenscoff and Boutilier, as well as Citadelle Henri.However, as the video suggests, most tourists would not be interestedin visiting such places except the ones interested in history. Thismeans that the idea of a restaurant in the region is a wrong basicenterprise concept.
The quality of management would be another risk factor for theinvestment. This is because the prospect of the restaurant makingmoney is low and therefore it would be difficult for the restaurantto hire well qualified people whom they need to pay well. It is alsoevidently clear that the location of the restaurant would drivequalified employees and managers away. As the video indicates, thereare no decent houses for residing in the area and the environment maynot be friendly for many employees. This is because the restaurantmay need to hire expatriate employees who understand the needs of theinternational tourists. The above three key risk factors are informedby the fact the restaurant has no prospect for generating profits andtherefore it might be extremely difficult to run the enterprise. Thelocation of the hotel, the loan repayment and the poor prospect forinternational tourists visiting the location all work against therestaurants vision.
The factor of changes in technology may not pose such a huge risk tothe enterprise. This is because the restaurant does not solely relyon technology to generate income. However, it is essential to statethat technology will form an essential part for the enterprise toensure that there is effective communication, as well as keeping andupdating various tourist and or visitors records (Dees & Economy,2010). Technology keeps changing every now and then but this may notsignificantly affect the operations of the restaurant. The factor ofcompetitor reaction may not also form a huge risk to the restaurant.This is because apparently there are no competitors in the region.The business will have an opportunity to grow before other competitorand set in and establish their enterprises fully. The idea ofstarting a restaurant in Milot would be considered crazy by manyinvestors. Therefore, there is no possibility that the restaurantwill face the risk of intense competition in the near future.
The last least factor that would pose a risk is changes in themarket place. As the video indicates, the restaurant does not haveany international tourists at the moment. Therefore, if there wouldbe any changes in the marketplace, it would be an increase in thenumber of tourists using the restaurant’s services. It is thereforeevident that the issue of changes in the market place would not poseany serious risk factor to the enterprise.
The next steps for this project would be marketing. This enterpriseneeds enhance marketing campaigns using the historical sceneries as away of attracting the tourists. Marketing for the restaurant shouldbe done across all media platforms such as social media, television,print media and radios. This would ensure that the restaurant is wellknown to numerous people both locally and internationally. Therestaurant’s management can also use the good history of Haiti as atourist destination place in the world. This would largely enhanceattraction efforts for the tourists. The restaurant needs marketingto the various international tourists who visit nearby places. It isalso essential to open up the road that leads to the location of therestaurant. This would ensure that the restaurant is accessible tothe numerous tourists who visit the country. There is also the needto develop a plan for the restaurant to ensure that there arestrategies in place that would ensure that the restaurant is on apath to success.
Davidson, A. (2011). An Optimist in Haiti. Video. Retrievedfrom: http://video.pbs.org/video/2146169293/
Dees, J. G., Emerson, J., & Economy, P. (2010). Enterprisingnonprofits: A toolkit for social entrepreneurs.Chichester: Wiley.
Guo, C., & Bielefeld, W. (2014). Social entrepreneurship:An evidence-based approach to creating social value.