Nathans Famous Inclusion is an American Company that deals in fast foods which and specialize in hot dogs
Nathans Famous Inclusion is an American Company that deals in fast foods which and specialize in hot dogs. The Company is headquartered in Jericho at the Jericho Plaza in the New York. The company started as a nickel hot dog stand in Coney and Island in the year 1916 and the name originated from the co-founder who is Nathan Handwerker. Nathan started the business and competed against his competitor Feltman who was a man that sold his hotdogs at ten cents while Nathan sold his at five cents so that he would attract the customers. He made sure that men who wore surgeon overalls were seen eating his hotdogs as he used this tactic to reassure the customers that his hot dogs were the best. Murray Handwerker saw the expansion of the company as it opened a branch on Long Beach Road in Oceanside, New York which was opened in the year 1959 while another was opened in Yonkers, New York in the year 1965. In the year 1968, went the company went public, Murray Handwerker was named the president of the Company. (Jakle, John, Sculle, Keith, 1999).
In the year 1987, the Handwerker Family sold the company to a group of private investors and this lead to Nathans Company being franchised and new units were opened in the state of New York and beyond. The company acquired Kenny Rogers Roaster and Miami sub grills in the 1990’s. Analysis has it that by September 2001, the company had 24 company-owned units, 380 licensed units, and more than 1400 stores. The Company also owns the exclusive co-branding rights to the Arthur Treacher’s Fish and chips chain. On March 28th 2017, Nathans Famous reached a sponsorship deal with Major League Baseball where the company marketed itself as the hotdog brand of the League. Nathans Famous was the first company to engage in the sponsoring of a League in the hot dog industry. (Taff, 2011).
Several factors made the Nathan Famous Inclusion to be famous and popular. The first is that while his competitors sold the hotdogs at ten cents, Nathan Famous sold at five cents and this enabled the inclusion to beat all odds and rose above all the competitors. Nathans famous also used a recipe from the old country that made his hotdogs stand out from the rest of the competitors. Nathan seasoned the hotdogs with a secret blend of spices which was from his wife’s Ida, grandmother that passed the recipe to Nathan.
As of 2018, the original Nathan’s hot dog stand still exists at its original 1916 site. Having been open for business every day, 365 days a year, the stand was forced to close on October 29, 2012, due to Hurricane Sandy. The shop re-opened six months later, on May 21 despite a small fire on May 4, 2013. Service is provided year-round inside, and during the summer additional walk-up windows are opened to serve the larger seasonal crowds. Nathan’s also operated a second, smaller location nearby on the Coney Island boardwalk.
The Nathan’s Hot Dog Eating Contest has been held at the original location on Coney Island since the early 1970s. Contestants try to consume as many hot dogs as possible in 10 minutes. Winners include Takeru Kobayashi (2001–2006) and Joey Chestnut (2008–2014) in July 2008, Chestnut tied Kobayashi after eating 59 hotdogs in 10 minutes. The tie resulted in a five hot-dog eat-off, which Chestnut won by consuming all five before Kobayashi. Chestnut was beaten by Matt Stonie in 2015 but regained the title in 2016. Chestnut also won the 2017 contest.
The region that would be advocated for the company to take its business is the Africa Region as it stands now, the Nathan Famous has not incorporated its business in any country in the business and South Africa is a developing nation that will provide a huge market for the Nathan Famous as there are no many stores that deal in this kind of business that Nathan carries around South Africa and therefore the company has a high potential to grow and set many stores in different countries in the region. Nathan Famous Inclusion can be set up especially at aiming to use the recipe that it uses and this will enable it to use the blended spices which are used to make a different kind of hotdog and will make it outstanding compared to other competitor stores in the surroundings. Another factor that will lead to Nathans company been set up in South Africa is the fact that there are not many stores that sell the hotdog and hot dogs have not been in South Africa for quite a while and people have not known it for long.
As an ordinary business, it has to undergo a difficulty before it can rise to its success, as it is said, the roots are bitter but the fruits are sweet. Nathan Famous has undergone a struggle when it was about to fall in the 1980’s and when the company almost split when Murray and Sol could not agree on how to run the business and this lead to Sol opening his own unit but later closed
South Africa is a developing country and has not reached its full potential in the business world and most of those who have enabled the business to grow in South Africa is the international foreign investors. This means that there is a chance for the organization to grow and even carry out its business. The viability of Nathan Company been able to be successful is very high as the company will be one that will grow expeditiously.
The first strength of this company is that there lack stores that have a strategy like that of Nathan of reducing the prices and when the organization incorporates this strategy in the organization, it will immensely grow and many customers will start buying hotdogs from the store. Lowering of the prices and offering great services to the customers will be a stepping stone to the Nathans organization. Another strength that will be experienced is the fact that the Nathan stores not only have a special recipe where they use specially blended spices that will enable the company to be able to rise above their competitors and acquire more customers than the other fast foods where hot dogs are sold.
Another strength that the Company will receive is since there are lowered prices, more Africans will tend to buy goods and services from the Nathan Famous store because they will save money and use it to carry out their other needs. The stores such as fast foods will be a meeting place over meals as people will meet to discuss their agendas while taking their meals and this will enable the stores to grow as the customers go in and come out, they may pass through the supercenter to buy goods and services and this will enhance business in the organization. A society where the customers want to spend less and buy more is found in South Africa as there is by Nathan Famous providing such a scenario, the business will grow beyond its expectation.(Lind green et al, 2012).
Weaknesses ought to be faced in the company as it is being incorporated in a new setting where it does not know the market trends in that region and it is the first time that the company is setting its store in that area. That will be the first weakness that it will face. It is highly predicted that the organization when trying to get a country to start set the store, the government of that country will be strict on the fact that it will make the local businesses to lose its customers because of the lowered prices and will have to come up with a strategy that will enable the businesses of the locals not to go at a loss. This will be the main weakness that will be experienced before the organization is allowed to set its stores in the country and region. When the business is incorporated before it finds it is well established and known by the locals of that region and they gain trust in it, it will take time and the profits will not be as much as expected. Trust is an essential character that the South Africans must get especially from the international organizations and if
one of their products is not fresh or spoilt, it will tend to be talked about negatively and it will be assumed that all the other products are the same. To ensure that this kind of problem does not come up, Nathan Famous has to ensure that all their hotdog products are fresh and in a proper condition. Pruitt, (Sarah 2012).
The employer-employee relationship is an essential thing in the business world and as earlier stated South Africans are very selective when it comes to International organizations because of the colonization they underwent, they still lack trust in international organizations. The topmost authority who employs the employees will have to create a good working relationship for the employees and should not be harsh to them as they will tend to create a bad image of the business and the customers will withdraw purchasing products from the store and look for another store to buy the products. Respect is a norm that is observed in South Africa. (Wolff, 2016).
An opportunity for the Nathan Famous stores to be set in the organization will depend on whether the organization will be accepted by the region to set up its business in the country and by the fact that it is accepted and allowed to set up the business is a clear indication of the opportunities that the Walmart company will have in the region. Nathan Famous will be able to set up the stores in a particular area in the country and once it grows and gets it proceeds, it will set up a new branch in another area of the country or region and this will have created an opportunity for the organization. Employment opportunities will be created as the business will need cashiers at the exiting point, customer attendants will also be needed. An opportunity for the jobless Africans to get employment will have been created. Suppliers of the goods which are the companies that produce these goods will also be contracted to supply the business with the required goods. An opportunity for other businesses to be opened along the organization will also be created as other small businesses will open. The region and the country where the business is set will gain more revenue form the businesses set up in form of taxes. (Oches, 2016).
Threats are to be faced as the business is set in a new area and region and the organization does not know the market trends of the region. This will be a threat to the management of the business as they do not know whether they are going to make losses or gains and they will be operating on a risk-based setting. The other risk that Walmart is set to face is the fact that it has lowered its prices and this may make all the customers of the other stores shop at Nathan Famous. The other stores may complain to the government that it either Nathan Famous closes the business or it merges with the other stores so that they can share their ideas and have the same prices in the market. This will be a big threat to Walmart as it depends on the lowering of prices strategy to flourish.
In conclusion, the Nathan Famous inclusion if set in the South African is set to flourish but challenges will come up when the government and the other stores complain that the lowering of prices is bringing about a monopoly in the business industry and the local stores are going at a loss.
Jakle, John A.; Sculle, Keith A. (1999). Fast Food – Roadside Restaurants in the Automobile Age. Baltimore, Maryland: Johns Hopkins University Press. pp. 163–164.
Oches, Sam (September 2016). “24 Big Brand Anniversaries”. QSR. Retrieved 22 September 2016.
Pruitt, Sarah (December 4, 2012). “Historic Hot Dog Stand Shuts Its Doors for the First Time”
Taff (May 22, 2011). “Passings: Murray Handwerker”. Los Angeles Times. Archived from the original on February 21, 2015
Weichselbaum, Simone (May 21, 2013). “Nathan’s Famous, Destroyed During Sandy, Reopens with Hot Dogs, Fries and a New Clam Bar – Coney Island Is Bouncing Back – Grand Re-Opening Is Thursday
Wolff, Craig (21 May 2016). “Frankfurter fun facts: Nathan’s Famous Hot Dogs on Coney Island”