Possible Locations for Gelato Per Te
Introduction
I would recommend to open Gelato Per Te at Váci utca. I choose Váci utca because it is perhaps the most famous street of central Budapest, Hungary. It features a large number of restaurants and shops catering primarily to the tourist market. Váci utca is surrounded by many metro stations and close to Deák T�r, G�d�r and Andrássy. There aren’t so too many ice cream places in that area so it would be a perfect location for us. The price of the location would be a bit more expensive then for example in buda side but we can sell double amount here and we can be a bit more expensive as well. Váci utca is not so much a seasonable place there are tourists all year long but of course summer time is what we are mainly focusing on. There is Rudas Bath really close and tourists just have to cross the bridge so after enjoying a sunny day at our thermal bath they can come over to the other side and enjoy some ice cream.
Criteria to assess
There are three main criteria to assess when weighing the pros and cons of a new location, which are environment, target audience and competition. Therefore, we aim to discuss these factors in detail in this section.
1. Environment
Surrounding Facilities
Váci utca is located in the heart of the city overlooking the river Danube, between 2 bridges Chain Bridge and Erzs�bet Bridge. This area is also known because of V�r�smarty t�r and the famous fashion street. This area is a major tourist attraction for the jung and for the older generation. Mátyás Pince is located here which is a Hungarian traditional restaurant touristic centred. When one is going to visit this restaurant there is a possibility that he or she will pass new Váci utca which is not so well known yet but more relaxed and renovated. There are 3 major hotels close to Váci utca one of them is Four Season-Gresham Palace Constructed in 1906 by the Gresham Life Assurance Company, Four Seasons Gresham Palace was conceived as a luxurious apartment residence. Hungary’s most talented artisans crafted what is considered one of the world’s finest expressions of Art Nouveau / Secessionist architecture. Today their creativity has been breathtakingly restored – from stained-glass windows to ceramic-tile mosaics. With palatial opulence and personal intimacy, Four Seasons Gresham Palace captures Budapest’s dynamic allure.
Sofitel and Hotel Intercontinental are very close to each other also located at Roosevelt square close to the river Danube, Chain Bridge and Váci utca.
There is Buda side, Gell�rt hegy not so far and the Parliament. Getting to Buda side with a delicious ice cream is ones hand is possible through the Erzs�bet Bridge and Chain Bridge as well metro or tram is also a good way although its not preferred with the melting ice cream.
Getting to different places for example in Buda side is easy with public transport Moszkva t�r is 15minutes away by bus and an other bus can be taken to the Castle.
As one can see the catchment area is wide and there isn’t too much competition from the point of view of providing good quality ice cream.
Price, Infrastructure of Location
As it was presented before the location is famous and frequented. We would rent not buy and it would be a bit more expensive then in a less centred location but we could welcome more consumers so the income would be higher as well. We prefer to rent a shop which has a balcony so during the summer time buyers can enjoy the ice cream sitting outside in the fresh air. We would place tables and chairs outside and we would set up an air-conditioned system for the warmer days.
Target Audience
The target audience would be everybody who loves ice cream. Can be a child an adult or an older person. It can be tourists and locals. Tourists would be the main target of course but we would welcome hungry locals as well. We are open everybody who wants to enjoy the real Italian ice cream feeling.
Competition
Competition in this area is mixed. We consider restaurants, coffee houses bars, tea houses and other ice cream places as competition. There are many competitions in V�r�smarty square because there are many places to eat also around G�d�r and in Váci utca mainly. However tea and coffee houses are different in function, most restaurants also sell ice cream especially during summer time so that can be a problem for us. Our chance to grow and to show that we are different is in the fact that our product is Italian. We learned over the years that costumers prefer Italian ice cream over simply ice cream. Good quality home made ice cream is rare to be found and that’s why we consider ourselves special.
Summary and Recommendation
As it was presented before the location of Váci utca is perfect for a new ice cream shop. The area is frequented and packed with tourists and locals. The public transportation is perfect and everything is really close within half an hour. The place is unique and there is history behind it. There isn’t too much competition and it is financially suitable to our budget.
An ice cream shop would be well placed in this area.