Sandwich Shop on Bermuda Opening

2021-05-19 03:24:44
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Bermuda is country located in the North Atlantic Ocean just east of North Carolina. The country is made up of over 350 small islands with Bermuda being the biggest of them hence the origin of the countrys name ("Bermuda: Geography, History, Politics, and More", 2016). The countrys total land area is estimated to be 21 square miles which are home to a population of over 66, 000 citizens based on statistics from the last census conducted in 2008. This translates to a population density of 3,175 people per square mile, which is ranked among the ten highest population densities in the world. However, with a life expectancy age of 78 years coupled with the high birth rate of 11/1000, the population is expected to reach over 100,000 over the next decade.

The population of Bermuda consists of 70% blacks with other ethnic groups such as Europeans, Portuguese, and Native American s constituting the remaining 30%. Demographically, the country has a diamond shaped population pyramid with the bulk of the population (39%) falling between the ages of 25-54 years. The number of people below 15 years follows closely at 17%. Senior citizens above 55 years account for close to 30% of the entire population. Additionally, the country is symmetrically divided between the male and female genders ("Bermuda Age structure - Demographics", 2016).Due to the multiracial composition, the country is similarly multicultural and religious. The Anglicans constitute about 23% of the religious population of Bermuda with Protestants following closely at 18%. Roman Catholics have a following of 15% of the entire religious population while African Methodist Episcopal, Other religions, and unspecified churches have 11%, 12%, and 1% respectively. However, 65 of the entire population have no specific religious inclinations, while 145 are staunch atheists ("Culture of Bermuda - history, people, traditions, women, beliefs, food, customs, family, social", 2016).

With a literacy rate of over 90%, Bermuda has one of the strongest economies in the region with economic statistics as of 2008 estimating the countrys GDP as $4.5 billion translating to a per capita income of $36,000. Inflation in the country has remained significantly low with an average of 2.8% over the last decade. Similarly, unemployment rates have remained under 3% for over a decade and a half. The main economic activities in the country include agriculture, fishing, tourism, international business, and light manufacturing. Its major trading partners include UK, Spain, Japan, South Korea, and the United States ("Bermuda Age structure - Demographics", 2016).

The biggest anticipated advantage is the high per capita income coupled with the abundance of young people who will not only be financially disposed to spend on sandwiches but also have lesser diet restrictions that would reduce the likelihood of them consuming sandwiches and other light meals.

Due to the small population and small unemployment rates, the biggest anticipated problem is the lack of labor and high wage implications for any foreign direct investments wishing to invest in the country.

ARUBA

Aruba is a small island nation located 20 miles off the Venezuelan coast. Together with two other islands, Curacao and Bonaire, Aruba forms the Dutch Leeward Islands ("Aruba Demographics Profile 2014", 2016). It has an area of approximately 75 square miles and a population of approximately 100,000 occupants. However, with a life expectancy of 76 years, an equally low fertility rate of 1.84, and a high mortality rate of 11.74 per 1000 births, the population is expected to grow relatively slowly and will not hit 150,000 until the next two decades. The total population translates to a population density of 200 inhabitants per square mile, which is among the smallest in the world regardless of the size of the entire nation.

The population of Aruba is relatively symmetrical with a male to female ratio of 0.9 as of 2016 statistics. The bulk of the population (43%) lies within the 25-54 age bracket. People between ages 15-24 and 55-65 both account for 13.5% of the entire population. Senior citizens above 65 years account for 12% of the population ("Aruba Demographics Profile 2014", 2016).

Ethnically, the country consists of 80% Dutch, and 6.6% Colombians. People of Dominican, Venezuelan, Haitian, and other cultural ethnicities account for 2.2%, 2.2%, 1.2%, and 0.1% of the entire population respectively. The small nation is mainly made up of Roman Catholics as far as religious affiliation is concerned with Catholics constituting 75%. Various Protestant groups, Jehovahs Witnesses, and other unspecified religions constitute the remaining 25%. The official language is Dutch although more than 69% of the population speaks Papiamento, a local dialect. A small population speaks English (7.1%), and Chinese (1.5%).

The country as 2015 had a GDP of $2.4Billion and a per capita income of $23,831 placing it at position 182 and 32 respectively in the World Bank global rankings ("Aruba - New World Encyclopedia", 2016). The main income earning economic activity for the country is tourism with small bits of Agriculture and Fishing taking place.

The biggest anticipated advantage of investing in the country is the high disposable income and the high number of tourist that will be willing to consume sand witches based on local cuisine.

However, the high dependency ratios coupled with the high urbanization rates will make initial capital investments regarding property acquisition and wages very unfavorable for persons wanting to invest in the country.

Decisions

Qn. 1

I would set up my sandwich shop in Bermuda because of a culmination of reasons.

Qn. 2

The first is the expected return on investment of the sandwich shop. The high GDP and high income per capita almost guarantee a return on investment in the shortest time possible once a customer base is established. Further, the high employment rates ensure that people have little time to cook in their homes and will be more susceptible to buy sandwiches in between work breaks. The abundance of people in a favorable age bracket (25-50 years) ensures that most people will not have diet restrictions that drive people away from buying sandwiches and other snacks. Finally, Bermuda, unlike Aruba, is known for agriculture that favors onions, cucumbers, and cabbages among others, which are major ingredients in sand witches hence reducing input costs

Qn. 3

I would serve the breakfast roll sandwich, which incorporates bacon or sausage meat, mushrooms, tomatoes, and fried eggs.

The traditional Fish sandwich, a local favorite, which incorporates pan-fried fish with hints of tomatoes, and other garnishing suited to the customers specifications.

I would finally serve customer dictated sandwiches for customers who would want to dictate what ingredients to put in their sandwiches when provided with a list of available material through a list

Qn. 4

Since Bermuda is a tropical Island, I would also serve tropical drinks and Tea, which according to Bermudian culture is mandatory at 4 oclock. I would also serve popular local dishes such as fish chowder for tourists who want to sample the local cuisine

Qn. 5

The competitive advantage would be offering customers a diverse range of sandwiches to choose from including letting them choose the type of sandwich they would want.

Qn. 6

I would target middle and upper classes in the pricing. Bermuda being a popular tourist destination and having a high income per capita; such pricing would attract a bigger customer base and better revenue.

Qn. 7

Marketing would mostly entail print media in various popular tourist sites combined with free samples to lure potential customers. I would also engage local marketing specialist to carry out ground campaigns in office buildings and residences to attract the local population.

Qn.8

I would make sure the service delivery and quality of the sandwiches is beyond reproach so as to attract a loyal customer base. Additionally, I would introduce promotional packages on selected days such as two for the price of one to attract more customers and avoid failure

References

Aruba - New World Encyclopedia. (2016). Newworldencyclopedia.org. Retrieved 13 August 2016, from http://www.newworldencyclopedia.org/entry/Aruba

Aruba Demographics Profile 2014. (2016). Indexmundi.com. Retrieved 13 August 2016, from http://www.indexmundi.com/aruba/demographics_profile.html

Bermuda Age structure - Demographics. (2016). Indexmundi.com. Retrieved 13 August 2016, from http://www.indexmundi.com/bermuda/age_structure.html

Bermuda: Geography, History, Politics, and More. (2016). Infoplease.com. Retrieved 13 August 2016, from http://www.infoplease.com/country/bermuda.html

Culture of Bermuda - history, people, traditions, women, beliefs, food, customs, family, social. (2016). Everyculture.com. Retrieved 13 August 2016, from http://www.everyculture.com/A-Bo/Bermuda.html

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