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Main Idea, Restaurant plan, Virtual Event Planning - Coggle Diagram
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Restaurant plan
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Merits
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Strong Market Demand
Restaurants can cater to various demographics and dietary preferences, expanding the potential customer base.
Demerits
High Failure Rate
Factors contributing to this high failure rate include fierce competition, thin profit margins, and challenges related to staffing, food costs, and customer satisfaction.
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Virtual Event Planning
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Merits
Cost-Effectiveness
Virtual event platforms often offer flexible pricing models, allowing organizers to pay only for the features and services they need, further enhancing cost-effectiveness.
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Demerits
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Technical Challenges
Participants may face barriers to access if they lack the necessary technology or skills to navigate virtual event platforms, leading to reduced attendance and engagement.
Monetization Challenges
Monetizing virtual events can be challenging, as attendees may expect lower ticket prices or free access compared to in-person events due to the perceived reduction in value.
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