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Buffalo Wild Wings Strategic Analysis

Strategic Analysis

Andrew von der Heiden

on 29 April 2011

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Transcript of Buffalo Wild Wings Strategic Analysis

Buffalo Wild Wings Strategic Analysis Andrew von der Heiden, Chelsey Flick, Jessica Dock, Michael McGehee, Daniel Smith 1982 Jim Disbrow and Scott Lowery Great wings, a variety of beer, and sports on dozens of televisions 1994 Sally Smith becomes CFO Grows to 35 locations 2003 Buffalo Wild Wings goes public Debt free in 2006 “OUR MISSION IS TO WOW PEOPLE EVERY DAY.” WE ARE GUEST-DRIVEN WE ARE TEAM-FOCUSED WE ARE COMMUNITY-CONNECTED WE ARE DECICATED TO EXCELLENCE Internal Analysis Strengths: Sauces Debt Free Balance Sheet High Brand Awareness Unique Atmosphere Weaknesses: No International Presence Unhealthy Image Fluctuating Traffic based on sporting events Opportunities: Demand for low-cost high quality dining options Improving Economy Globalization Threats: Fluctuating Chicken Prices Competitive Industry NFL Lock-Out Industry Analysis Social Factors Health Conscious Economic Factors Lower Prices and offer special deals Political Factors Laws passed requiring disclosure of nutritional information Key Success Factors Maintain a competitive price structure
Capture a large market share
Maintain a competitive growth strategy Competitors The Cheesecake Factory
Cracker Barrel
Texas Roadhouse Cheesecake Factory Market cap: 1.78 B
Competing for the same foot traffic
Forward P/E : 15.95
Cracker Barrel Market Cap: 1.17B
Competing for the casual market
Forward P/E : 10.98 Texas RoadHouse Market Cap: 1.17B
Competing for foot traffic
Forward P/E: 16.01 Five Forces Threat of New Entry Moderate Competitive Rivalry Moderate Threat of Substitution Low Power of Supplier Moderate - High Power of Buyer Moderate Goals and Objectives Goal 1: Continued franchising of restaurants in the US.
Objective #1: Open & Operate 1,400 Buffalo Wild Wings by 2017 (657 more).
Objective #2: To have a Buffalo Wild Wings in every US State by 2016. Goal 2: International Expansion, beginning in Canada – eventually into Europe.
Objective #1: 100 Buffalo Wild Wings in Canada by the end of 2015.
Objective #2: By 2015, check growth, evaluate, move forward and expand if necessary. Goal 3: Continue innovation in restaurant atmosphere and brand awareness/loyalty.
Objective #1: $$$ for Marketing.
Objective #2: Loyalty membership cards by 2012.
Objective #3: Reach 6,000,000 friends Facebook page. Goal 4: Sustain current Earnings Per Share and debt-free balance sheet.
Objective #1: Achieve EPS of 32.75% for next 5 years.
Objective #2: Maintain debt-free balance sheet until 2013. Goal 5: Continue research on consumer tastes, and creation of new wing sauces.
Objective #1: Phase out the two lowest-volume sale sauces by 2013.
Objective #2: Create two new replacement sauces by 2013.
Objective #3: Create a new sauce for each state by 2016. Alternatives Expand Globally Firstly into Canada
Reduces threat of competition
High Expense/ High Risk Develop Loyalty Programs/ Promotional Offers Discounts for loyal customers
Creates a more consistent flow of traffic
Potentially devalue the brand Increase franchising, research, advertising in US Reach a more diverse consumer base
Could oversaturate American audience Incorporate a delivery service Allow for more high convenience service to customers
Take away from in-house and take-out sales Grand Strategy Continue global expansion, beginning in North America. Implementation Control Preset cost structure
Currency swaps
Monitor same store sales
Continue research and consumer feedback
If no profit in Canada by 2015 – implement two year plan to turn around Canadian expansion
If continued loss by 2017 – implement retrenchment and refocus on US market growth.
If growth and profit success in Canada – look for future expansion opportunities.
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