Establishment of Ruth's Chris Steak House in London | Free Essay Example

Establishment of Ruth’s Chris Steak House in London

Words: 559
Topic: Business & Economics

As evidently, known, Ruth’s Chris is an American entity that is going global in an endeavor to expand. Globalization will involve opening up branches he is in various countries. London is one of the lucrative cities due to its large population and tourist number. The company aims at making the best out of any investment the opportunity thus facilitating growth.

To enter a foreign market, we will embrace partnership with designated companies or entrepreneurs. Ruth’s Chris entry into the London hotel industry will not only augment the competition but will increase the variety of cuisine offered in London. This will also serve as an avenue to market American cuisine and illustrate the constituents. Furthermore, the entity will aid in meeting London’s necessities for American delicacies.

London is preferred due to its dynamic nature; it serves as the economic center in Western Europe. It is also a cultural center and has a good business environment. This is an invitation to all companies and entrepreneurs that are willing to work with Ruth’s Chris in franchising it in London and the rest of the world. Interested parties should come up with concrete strategies to help Ruth’s Chris break into the London hotel industry.

All interested parties will receive due to cooperation in the course of working on their proposed strategies. Ruth’s Chris is willing to set up meetings if need be. The firm or entrepreneur who will enter into a partnership with Ruth’s Chris will derive many benefits. Considering the exploits that this brand has made in the US, then this partnership will enhance goodwill for the strategic partner.

Given the success, the management of Ruth’s Chris has experienced, some of the business tactics employed by Ruth’s Chris may pass on to the partner uplifting the business. Entry into the hotel industry will encompass the use of well-researched information to determine trends in this industry. A lot of careful planning is required for a venture of this magnitude.

To create awareness of the entry of this hotel in London, a well-coordinated advertisement is imperative. It would be vital that any entity trying to partner should be a well-established brand in London. Establishment of the facility ought to be done, expeditiously to facilitate immediate commencement of operation.

Ruth’s Chris operates in an industry that is susceptible to the slight change in politics, security threats and economic time it will be in the interest of Ruth’s Chris that the strategic partner should have a strong financial foundation. The partner should be operating in the hotel industry or related one to enable them to work synergistically.

Established over fifty years ago as a small hotel, Ruth’s Chris has steadily grown and cut a niche for itself in the American hotel Industry. Ruth’s Chris is composed of a chain of branches in many urban areas in the US. This has indeed helped in its strategic positioning and enabling it to tap the highly profitable American market.

Existence of this brand up to date is a sign of its resilience and the capability of its management staff to deal with the various economic challenges. Ruth’s Chris was a victim of Hurricane Katrina and Betsy and the devastating economic meltdown that brought down significant proportions of companies in the globe. The ability of such a business to withstand such hard economic times makes it a worthy investment venture.