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Restaurant Business - Marketplace & Competition

2412 runs

Added by AnyLogic

Application area: Restaurant Business

Simulation method: Agent Based, System Dynamics

Restaurant Business

A model of two competing restaurant chains in a local area. Every day at 9PM people decide where to go for dinner. If there are no restaurants within a certain range, they eat at home. Otherwise they choose a restaurant based on both distance and "image" created by advertizing. The restaurants have limited capacity and people check if they can make a reservation. Each restaurant has fixed running cost and income. On average, a person spends $40 at a restaurant. The finances are centrally managed at a restaurant group level. A certain percent of accumulated capital is spent on advertizing. People, restaurants, and restaurant groups are modeled as agents. The money flows within a restaurant group are modeled as a system dynamics diagram. Each group exposes a management dashboard where you can open or close a restaurant, and decide how much money should be invested into "image".

The model was created with AnyLogic - simulation software / Restaurant Business

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