business, one is to build a nice premium restaurant.

You got your mind fixated on the latter but you won't call MCD a premium restaurant, but it makes billions.It doesn't have great food (Yikes!), it doesnt' have nice environment, and it does even have alcohalic drinks. Also, you look Panda Express (sorry, never been into one)'s menu, it looks horrible.

There are sectors in this business, each again is subdivided into more subtile niches.