Background information on Anthony’s Coal Fired Pizza.
When we talk of a well-established business, then with no doubt Anthony’s Coal Fired Pizza is one of them; characterising a lot of passion and dedication by the management to its success and satisfaction to its clients. As we look at the background check of the company, it started from a very humble background since it had only one branch in Florida and grew to be 48 successful branches in a span of very few years. All these achievements never gained came on a silver platter since they had to face many challenges, learn many lessons and work on their failures.
Anthony Bruno, the founder of the company, is a perfect example of a visionary entrepreneur since he realized his potential and believed in himself and started the company together with his friend Pat and took the challenge in facing the market. The following are some of the reasons that led to their success.
The real working experience was one of the reasons why Anthony Bruno and the company President shared. As mentioned in the video before starting his company, Anthony Bruno was already in the restaurant business known as Runway 84, by stating that Pat and Anthony had done many companies before. Working in the same industry built a firm foundation for the two since Anthony already knew what it takes to be in the business and where the target market concentrates and what were the right products to sell.
A good research is one of the best entrepreneurial practices for any business. As Eric Brandenburg ascertains that; every successful entrepreneur should do research on what is nearest and dearest to them, afterward gauge their reaction and obtain information on what seems to be useful them . The substantial and adequate research was another strong pillar in the success of Anthony’s Coal-fired Pizza Company. Before investing in the business, Anthony had done enough research on the industry regarding the equipment needed, the menu, and including best ingredients in making the best product for their clients.
For any partnership to be successful, you have to choose and work with the right people who share the same mission and vision for you, and people that you feel well connected to. There are many people in Florida that Anthony could have partnered with to grow the business, but he chose to work with Part Marzano. This practice was not a coincidence since Part and Anthony have a strong working relationship since they had done many businesses before and had been sharing their mindsets on approaches towards business. As Eric Brandenburg ascertains that an entrepreneur’s enthusiasm and passion are determined the by personal connection of the people, they are looking for ideas from, and will mean whether their actions and ideas are useful or irrelevant .
Having well-trained management and the staff is one of the factors that have led to the success of the company. The company never concentrated on profitability and increase in client base as many other companies would have done, but their primary interest had well-trained staff first. Victor Limpman, who is one of the most celebrated entrepreneurs, states that companies should not focus of here and now, but rather they should concentrate on the future. By doing this, they should ensure training of their staff . Training practice was evident in Anthony’s coal fired pizzas company where managers had to go through series of training before taking over their jobs.
As alluded earlier, even though the business has been experiencing boom and increasing profits and expandability, it also experienced many problems which are critical in nature and have to change before it’s too late. The following are some of the challenges and weaknesses of the company.
First the company has a poor marketing approach. As observed from the video the company has a very traditional way of marketing itself forgetting that things keep on changing as days goes by and new technologies are applied. There was no mention of the company using social media platform in the video. Adaptability to technology is a major problem in this company which can take advantage of by their competitors. The company has to introduce the concept of creation of websites and to market themselves through social media. Traditionally, the company uses the concept of offering quality products to its customers as a means of marketing. By practicing this, it entitles the people living in the neighborhood and people who have friends in the same area locking about the people that have no whereabouts of the existence of the company. The company has to adapt using the media to advertise itself to increase the client base, especially in the new branches.
Poor sales strategy is another problem existing in the business. ACFP has adopted the practice of selling their product only in their premises other than introducing home delivery services and other related services like e-commerce. As the internet grows cheaper and affordable each and every day, the company should take advantage of the situation and introduce e-commerce into their business start getting their orders online. This practice makes it easy for people, other than going round to the enterprise premises to make their orders which they could have done in the comfort of their houses. This practice could replace Anthony’s model of “The big Three”.
Business capital and maintenance of their employees financially have grown to be an enormous problem for the company. Financial problems affecting this business can be solved by the company accepting to sell off its shares to the public. To provide more capital, Anthony, and part have relied on the market to finance opening other branches and maintenance of its employees. By selling of shares, this will enable them to share the risks with other able entrepreneurs and increase funding for their work more quickly.
Works Cited
Brandenburg, Eric. Why market research is so important for a startup business. n.d. 14 February 2016 http://www.smallbusiness.co.uk/starting-a-business/ideas-and-business-planning/2371778/why-market-research-is-so-important-for-a-startup-business.thtml .
Limpman, Victor. Forbes Leadership. n.d. 14 February 2016 http://www.forbes.com/sites/victorlipman/2013/01/29/why-development-planning-is-important-neglected-and-can-cost-you-young-talent/#5c8519352ce0 .
