New Business Plan for Bistro Restaurant in London UK

Individual Business Plan

EXECUTIVE SUMMARY
The aim of the report was to create the new business plan of opening the restaurant in
London UK so that more people are able to taste the authentic flavours and dishes in reasonable
pieces. Also, the report had described about several markets, competitor and industry analysis
that would be conducted to assure the success of the business. Furthermore, the study had also
identified the sources of funding and marketing strategy that would help the business to grow in
the most successful manner in the future. Lastly, various risk mitigation strategies that would be
used by the business firm in overcoming certain future challenges had also been covered under
this report in detail.

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION ..........................................................................................................................4
MAIN BODY...................................................................................................................................4
Business details............................................................................................................................4
Location.......................................................................................................................................5
Industry analysis..........................................................................................................................6
Product/Service description.........................................................................................................8
USP and Competitor analysis......................................................................................................9
Operations plans.........................................................................................................................11
Risk and Contingency plans.......................................................................................................13
Sales and marketing strategy.....................................................................................................13
Finance and funding plans.........................................................................................................14
Management team......................................................................................................................17
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
Business Plan is detailed description of the various products and services that are going to
the offered to the public on large scale. Furthermore, the present report is based on Bistro cafe
and restaurant that would be newly launched in London UK and would serve variety of dishes to
large number of customers. Moreover, the study will specify the business details and the location
where the products would be offered. Also, the study will highlight the detailed product
description and will also conduct the competitor analysis so that better understanding might be
gained for the future goals and objectives. Moreover, the report will specify the operations and
risk and contingency plans for the newly launched business. Lastly, the study will highlight the
sales and marketing strategy along with management team that will help the business to reach
greater height of success in the future.
MAIN BODY
Business details
The growth in hospitality and tourism in UK has motivated to introduce new multi
cuisine restaurant with name “Bristo: Food for choosers”. The arrival of tourist from different
locations find it difficult to eat food of their taste and preference. Bristo, being a multi cuisine
restaurant will provide numerous services and cultural specific catering for diversified tourists
with different cultural food and drinks at a single place. The good quality food, restaurant
lighting, interior design, music, outdoor dining and comfort will ensure great dining experience
of customers.
Legal form
There are different forms of organization and selection of appropriate form depends on
various factors. It is very essential to consider all the factors impacting selection of appropriate
organizational form. As the plan is to start a restaurant there are various requirements to fulfil
before establishing a restaurant (Sharma, 2020). The main factor is finance and its is very
important to have an idea of potential sources of funding. The legal structure of Bristo is
partnership LLP as to open a restaurant there is need of huge amount of funds and expertise. By
getting into agreement with individuals who have funds as well as knowledge about this area will
be beneficial for growth of business. Formation of partnership is very easy and quick as there are
very few legal requirements for establishing partnership. The another advantage of partnership is

that funds can be raised easily when required and liabilities will be limited to extend of
investment in organization.
Vision, mission and objectives
Vision
The vision of organization is to first choice in multi cuisine restaurant for tourist as well
as people in UK by providing excellent dining experience.
Mission
The mission statement of Bristo is to deliver a unique and delicious experience to
customers by providing high quality food and drinks along with friendly and attentive services
and warmth and welcoming presence (Carvalho, 2022).
Objective
 To provide unique and delicious dining experience
 To offer variety of food and drink choices
 To create a brand image
 To gain market shares and build loyal customers
Values
 Create a warmth and belonging culture
 Deliver the best food
 Customer and employee satisfaction is core value
Location
The location of restaurant has great impact on success of business as much as menu and
food. Location acts as anchor point which helps in sustaining in competitive market. There are
various factors to be considered before selection of perfect location for restaurant. The right
location of restaurant helps to attract more customers. The growth in tourism in UK has given
opportunity to open a multi cuisine restaurant in London. London is capital and largest city of
UK which is located on south east of England near river Thames (Ilmafa'ati, 2021). It is world's
major global city and has a strong influence on arts, entertainment, fashion, tourism and
commerce. This is the reason of selecting London location for restaurant as there will be growth
in tourism and hospitality industry in the future. Bristo will be opened near Thames river which
is second longest river in UK. The peaceful environment and river view will increase the charm
of eating and provide customers outstanding experience. Restaurant will have indoor as well as

outdoor dining. The atmosphere of restaurant will be family friendly so that customers can visit
with their family.
Industry analysis
Industry or market analysis is method that helps company to analyse and understand the
market and industry in which it is operating or planning to operate. Market analysis is very
important before developing a business plan. This would help company to understand its external
and internal business environment, market condition, customers as well as competitors. There are
various tools used to analyse industry (Pecorale, 2022). The tools that are used in this project are
Porter's five forces, PESTLE analysis and SWOT analysis.
Porter's five forces
The restaurant industry remains competitive due to modernization, innovative ideas and
other supplies that attracts customers. It is difficult for restaurants to sustain competitive
advantages. The successful restaurants know the changes that are going to take place in market
and has ability to use the opportunities in market according to their strengths.
Threats of substitute goods
The close location of restaurants with each other makes restaurants competitive. Along
with this price variance with different levels of services and facilities make it challenging for
customers to choose specific restaurant (Ferdinand and Tresyanto, 2020). This gives customers
options to look for additional facilities that can fit their tastes. This ultimately result into threats
of substitute services and other facilities to attract customers. To remain competitive it is
essential for Bristo to engage in continuous innovations and provide unique services and
facilities to customers which can fit with their tastes.
Bargaining power of buyers
Customers in hospitality industry are very demanding as they require services that add
value to their spendings. Therefore, it is necessary to provide additional services or facilities to
customers along with high quality food. To provide value added services, Bristo will give
takeaway and home delivery services to its customers and also provide welcome drinks and
music facility.
Rivalry among existing competitors
Rivalry in restaurant industry increases due to changes in customer behaviour, increase in
competition, inflation, etc. Despite all these factors of rivalry, restaurant industry has managed to