Question

 

Case A: Your restaurant offers food from your home country and you want to open a restaurant in North Cyprus. Your Task: Recently, you were preparing to negotiate a contract for leasing a restaurant property in North Cyprus. There are two properties and both will require substantial remodeling to attract customers. One property is located in Girne and the other is located in Lefkosia. Discuss your BATNA position. What type of food are you selling? Which property is of interest to you? What language will you use to negotiate? Discuss how you would persuade the owner of the location you want to lease you the property. Are you in a strong or weak BATNA position?

BATNA (Best Alternative to a Negotiated Agreement): There are two possibilities for the buyer and seller roles— • a weak BATNA (buyer needs a car now, and seller needs to sell the car now), and • a strong BATNA (buyer has other alternatives, and seller is considering keeping the car). ‌

In the introduction, describe your company, decide on how much money you need and which location you will approach (Considerations: personal investment to date, previous sales records, sales projections, and your technical knowledge or expertise). In the body of the essay, for paragraph 2 describe the disadvantages and advantages between the two locations (Girne and Lefkosia). In paragraph 3, discuss more advantages that you have for your selected the location ONLY. In the conclusion, provide a summary reiterating why you are at an advantage for starting a new restaurant at your selected location ONLY.

Answer 1

Answer:

What type of food are you selling?

My restaurant is selling vegetarian as well as non vegetarian dishes from fast food to the main course as per the demand of the customer. Fast foods and some of the non vegetarian starters are made available only after 7 PM. Only vegetarian breakfast is provided to the customers from 9 AM to 12 in the noon. And meals of both the vegetarian and non vegetarian cuisine is provided in the afternoon session. Evening session deals with the provision of fast food as well as the main course in both vegetarian and non vegetarian section.

Which property is of interest to you?

I would be investing in Lefkosia for opening a restaurant in North Cyprus. Another name for Lefkosia is Nicosia. Northern Nicosia is the capital of North Cyprus. It is regarded as the famous tourist destination where visitors visit the city round the year. Remodelling the restaurant according to the culture of city will definitely help in attracting the local customers and the tourists of the city. Moreover, people in the city of Nicosia are quite comfortable with the vegetarian as well as non vegetarian foods. Being the capital of north Cyprus, Nicosia will lead to the higher revenue generation as compare to that from the Girne.

What language will you use to negotiate?

For leasing out of property, I will either directly confront the owner of the property of I will hire a leasing agent who would be comfortable in speaking various kind of languages. Since, I am comfortable with English and Greek; I would be negotiating in Greek language rather than using any other language. Using any other language may lead to the confusion or miscommunication between the owner or leasing agent and me. Moreover, using the Greek language would help in the better and economical deal as it speaking in the native language gives a sense of affection and belongingness.

Discuss how you would persuade the owner of the location you want to lease you the property.

I would first of all brief the kind of business I am doing and would explain the business I will be doing in Nicosia. I would make the owner of the property comfortable with me through the series of communication. I would disclose my past few years’ record to the owner through referencing and make him/her believe that I am a trustworthy person.

Further, I would first of all ask the expectation of the owner for leasing the property for restaurant. Depending on his/ her expectation and the market rate, I would quote my amount which would be as per the market rate. For persuading, I would ask the owner to have a look at the market rate and that I am bidding the best of the amount as per the market rate. Moreover, I would be remodelling the property which would increase its life span.

Are you in a strong or weak BATNA position?

I am in a strong BATNA position where I am having large number of alternatives available. I may search for large number of properties in the Nicosia and would enter a deal where I would get a perfect blend of location and lease amount. Moreover, I have a choice of city as well where i can negotiate with the owner in Girne and would find the prospective business in that city as well.