Customers won’t have a reason to switch to your brand if it’s the same as the company they already know and trust. Your differentiation strategy could involve your price and quality.
If your prices are significantly lower, that can be your niche in the industry.
A reason for opening could be that you identified that no other restaurants in the area serve the cuisine you specialize in.
You can briefly discuss the vision and future of your startup company, but you don’t need to go into too much detail.
That’s great news, and you should be excited about it.
Take it from me: as someone who has founded several startup companies, I know what it takes to be successful in this space.
You’ll cover that in greater depth as you write the rest of your business plan.
Keep in mind, this description is a summary, so there’s no reason for you to write a ton.
This is arguably the most important part of launching a startup company.
If there’s no market for your business, the company will fail. All too often I see entrepreneurs rush into a decision because they fall in love with an idea.