Favorite Property Analysis

Nguyen Hong Hanh – 300272328

November 27th, 2017

HOSP 1235-001

Instructor: Anton Kosztyo

FAVORITE PROPERTY ANALYSIS 2

Table of Contents
A. Introduction:...................................................................................................................3
B. Summary........................................................................................................................3
C. Methodology...................................................................................................................3
D. Analysis...........................................................................................................................4
E. Conclusion......................................................................................................................6
F. Recommendation............................................................................................................6
Bibliography/References........................................................................................................8
FAVORITE PROPERTY ANALYSIS

A. Introduction:

British Colombia is one of Canada's largest province, where a lot of interaction between

cultures due to the characteristics of each immigrant group. Thus, B.C has a diversity cuisine.

Not only that, the competition in the restaurant business is fierce. People have different hobbies

and tastes, in personal opinion, Insadong Korean BBQ and Seafood Restaurant is a typical South

Korean cuisine that is my top favourite restaurant to dine in B.C. Moreover, to have stable

development and find recommendations for the business in the future; the analysis for the

restaurant is essential.

B. Summary

Insadong Korean restaurant place at 403 North Road, Coquitlam, B.C. It is a Korean

BBQ and seafood hot pot restaurant. Overall, the restaurant has a long history of operation since

2008 and continues to operate until the present. The restaurant area is quite large that can

accommodate large groups. The food of the restaurant receives many great feedbacks from the

customer. In addition; the property has various functions such as free parking, free wifi, alcohol

beverages and the lunch and dinner service. The price for a person to eat here ranges from $ 10-

50 depending on the lunch or dinner time. Besides, there are still limitations of the restaurant

should be overcome to be able to compete with the opponent. Typically, the quality of service

and consistency need to be noticed and can be improved to bring better experience for the

customers by offering more training program for staff as well as more concerning about the

facilities and implementing promotions

C. Methodology

To analyze the property, the SWOT analysis is an effective tool. It helps to evaluate the

strength, weakness, opportunity and threats of the restaurant from which outlines specific
FAVORITE PROPERTY ANALYSIS

strategies. In addition, the combination with market trend analysis, as well as competitor

analysis, will indicate the weaknesses need to be resolved and the direction for operating.

Another method was used that collect data from the restaurant’s Facebook and numerous review

website; analyze it to have an overview of the property.

D. Analysis.

About general information of the restaurant:

Name of property: Insadong Korean BBQ and Seafood Restaurant

Location: 403 North Rd, Coquitlam, B.C, V3K3V9

Open hours: 11:30 – 23:00

Phone number: 604 936 3778

First, the restaurant is located in the Korean town of B.C. It has a relatively broad area

with many free parking spots. The surrounding restaurant area is convenient location with the

Skytrain station, various supermarkets, store or it nears by the Lougheed Mall. Upon entering the

restaurant, there is a glass wall with display of some Korean dolls dressed in traditional Korean

clothing; brings out the Korean atmosphere into the restaurant. It includes 2 level; level 1 is for

individual, couple or small group of 4-6 people; the private room and table for large group are in

level 2. The restaurant is designed by Korean BBQ family restaurant concept. The special thing

of Korean BBQ theme is that the grill is located at the table for customers to cook during the

meal. In the Insadong restaurant, they serve lunch and dinner. The target market for the

restaurant is families. The customers can choose between to have a meal at restaurant or take it

home. They also can grill BBQ and hot pot by themselves or the restaurant staff will serve

completely.
FAVORITE PROPERTY ANALYSIS

Second, the Insadong BBQ has a wide variety menu. It includes full-course from

appetizers to desserts and the beverages. The restaurant changes the item in the menu follow the

season. They have created a new design for the menu since May 2017. The menu is quite long

because of various items which they serve. It is illustrated with vivid pictures and brief captions

in English and Korean. They also have many famous Korean dishes besides the BBQ and hot

pot. For example: japchae, Korean clear noodles mix with veggie and beef, tobukki, a hot rice

cake with spicy sauce; or bibimpap and kimbap, Korean traditional rice dishes. Furthermore, the

restaurant offers some Chinese items such as dumpling or fried rice to diversify the palate as well

as meet the needs of the guests. Because not only the Korean community chooses the restaurant

but also other Asian communities and the local.

One of the strengths of the restaurant is the food. The food has a unique taste that suitable

for both Asian and Western style. It was changed from the original recipes to fit the consumer in

B.C. The signature dishes of the restaurant are BBQ combo and seafood hot pot. They always

use fresh ingredients and marinated seasoning thoroughly. Almost the consumers come to the

Insadong restaurant because of the BBQ and hot pot. However, the restaurant encountered

competition from the surrounding restaurant, which is Toe Dam Korean Fusion BBQ. It is

smaller than the Insadong. There are similar geographical strengths, the Toe Dam focus on BBQ

and the prices are quite lower. Moreover, they offer some promotions to attract customers from

the Insadong BBQ. For instance, the Toe Dam has a happy hours from 13:00 to 3:00 with free

kimchi and coke. While apart from the combo for the group customers, the Insadong almost do

not have promotions.

On the other hand, the quantity of service is frequently inconsistent. From the experience

of personal view at the restaurant, each time when having a meal brings different. In general, the
FAVORITE PROPERTY ANALYSIS

service in the restaurant is tolerable. As soon as customers walked in the door, the staff always

have a joyful greeting. Some servers were very knowledgeable of the menu and was very polite

while taking order, however, some staffs lack of service skills. Usually, it is crowded restaurant,

sometimes the service is slow. The customers should call to book a table before they come.

There are some minor defects in the equipment that have not been repaired that lead to the

number of servicing tables has been reduced. According to some online feedback from customers

on yelp.ca or TripAdvisor, the food frequently took a long time to arrive at the table and not

enough staff during peak hours.

Moreover, the trend of delivery food is rise. The restaurant also started some

collaboration with doordash.com to take an online order and deliver food to the customer with

limited items on the full menu.

E. Conclusion.

In conclusion, the Insadong Korean BBQ and Seafood is a good place to have a meal

with friend and family. The restaurant has a cozy atmosphere with tasty Korean signature food. It

convenient for both driving or using public transport. In addition, the diversity menu and

beverages offers wide choices for customers. Although the Insadong restaurant is quite stable,

there are some restrictions on the services that can be renovation to develop.

F. Recommendation.

After observation and analysis, there are some recommendations to improve the business

of restaurant. First, the Insadong BBQ should operate more training course for the staff to

maintain the consistency in service. Second, the promotion has an important role to attract more

customer to compete with other rivals. Even the restaurant already has some combo value, they

need to offer more promotion to get customer comeback. The membership card might be a good
FAVORITE PROPERTY ANALYSIS

solution. The loyal customer will bring many benefits and they are a potential channel to

advertise for the restaurant. To communicate with the customer, the restaurant should open a

website or Facebook page that might support consumers to understand the general information

about the restaurant or make a reservation online. Furthermore, the Insadong BBQ might

collaborate with Skip the dishes, which is a famous site for delivery food, to increase the sales.
FAVORITE PROPERTY ANALYSIS

Bibliography/References

Zomato (2010), The review about Insadong restaurant, Retrieved from:

https://www.zomato.com/vancouver/insadong-korean-bbq-seafood-restaurant-coquitlam-

coquitlam

Yelp (2012), Review about the Insadong Korean Restaurant, Retrieved from:

https://www.yelp.ca/biz/insadong-korean-restaurant-coquitlam

Chan. D (2014, July 3), INSADONG KOREAN BBQ: FAMILY BBQ COMBO FOR 4-5

PEOPLE, Foodology, Retrieved from: http://foodology.ca/insadong-korean-bbq/