Economic Factors Affecting El Toro

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government also controls license given to the newer restaurant firm like which will hinder El Toro to open more branch in UK. However building good relation by providing mutual benefits such as employment and tax is a must for holding business success in other countries. So the restaurants have to create more employment. But there have been increased regulations for the restaurant business in hull city recently. The hull city government is coming up with strict regulation to let the customer know whether the food item contains any unhygienic ingredient. This entire factor is affecting El Toro and it is implementing and continuously focusing on such government political factors Economic Economy plays a very vital role. The economic factors…show more content…
The people of hull city are bored with local restaurant. They want something foreign special in their menu. El Too is being benefitted by this trend ( The consumer preference is changing and the spending pattern is also changing and this trends drive change in the economy. The economy has internal impacts on El Toro like food and labour cost. In hull city the franchising helps El Toro to build a good branding image. As the economy is burdened with high unemployment the inflation supposed to be less sharp but in reality it is not. In the time of high inflation the sale of El Toro declines as it prices slightly higher than the local restaurant. The favourable site includes that the economy for tapas in hull city is growing. This growing economy will probably increase the revenue of El Toro. However the restaurant is continuously trying to increase their market share and want to be a market leader in the future restaurants who serves tapas. Moreover at the time of rescission this restaurant suffers less than the other industry as people can cut their other necessities but not the basic demands. This happens because in the time of recession people cut down their expenses as their disposable income reduces. In…show more content…
The social factors are consciousness, age distribution, career attitudes, emphasis on safety and health consciousness. The business of El Toro is suffering from public awareness as it is seen that the residents from other countries, most of the guests, don’t have much idea on Spanish foods(Manager of El Toro, Interview). It has been serving too many people who never tried Spanish tapas before this exposure so that the customer of this restaurant is not so many. It gets much interest on education people what tapas are and how it is taken. Gradually people are learning that Tapas are not just holiday foods that people of Spain take .It is actually a kind of tasty food that serves year round. However, El Toro is promoting through advertisement to create awareness among the people with much enthusiasm.

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