Red Hot Buffalo Wings - Business Plan

The restaurant industry in Taiwan has reached one of the highest points in growth and market size, having a very strong influence of foreign dishes and particularly western styles fusions to the everyday menu. During 2011, despite the decrease on Taiwan’s GDP growth, the restaurant sales on the island reached its highest point with 316,721 millions of NT$ growing from a 2010 total sales of 291,645 million NT$, accounting for an 8.6% growth; the highest growth level for the last decade . An important explanation for the strong performance of the industry comes from the high percentage of household income that the Taiwanese population spends on food and beverage. Based on the statistics from the Ministry of Economic Affairs of Taiwan, the percentage that a Taiwanese household spends on the Food and Beverage industry is 15.3% being the second largest area of consumptions after Housing. The internationalization process that the food industry in Taiwan is experiencing also makes for an attractive environment for Red Hot Buffalo Wings to start operations, with an attractive menu, customer oriented services and environment that targets university students and young adults