Characteristics of a Business Idea for a Chinese Restaurant

An enterprise reflects risk taking capacity and ability of the
entrepreneur whereas a business reflects that the owner is
handling its business. A business idea refers to the concept
which is used for profit earning. The main characteristics of
business idea are, innovation, unique product, problem solving
and profitable.
Product : Product is Chinese food items that will be made like chow mien, Chinese hamburger, stinky tofu, streamed vermicelli rolls, spring rolls,
Manchurian and many other dishes.
Price: Prices of the dishes are not so high because the aim is to increase the sales. For example, the price of chow mien is £3, hamburger is £5 etc. The
company is using penetration pricing strategy for attracting new customers. In this company offers products at low prices to customers which attract more
consumers and after sometime prices are increased.
Promotion: For promotion advertisements will be done through social networking sites like Instagram, Facebook and advertisement will be given in
newspaper, pamphlets for the promotion . La- familia is taking help of social networking sites like short videos on Facebook, Instagram and advertisements
are given in newspapers.
Place: The place is decided after analysing the market, people in the area of London street like to eat Chinese but in their area there is no Chinese outlet. La-
familia will provide home delivery services to the customers without any delivery charge.
CONCLUSION
It can be concluded that, La- familia
will accomplish its aims and
objectives by providing good
quality of food and treat all the
Unique Selling Proposition
La- familia provides good quality
of food and various variety. The unique selling
point of the restaurant is that the taste of food
items is good and price is less as compare to other
restaurants. The interior of the restaurant is
Business idea
A new Chinese restaurant will be open in the London street
as there is no Chinese outlet in that area and people like
Chinese food.
Aim
To increase the sales of new Chinese restaurant: La familia
Objective:
•To provide high quality of Chinese food to consumer
•To increase liking and preference of Chinese food
•To increase profitability of new start-up La familia
Target consumers and buying pattern
Target market refers to make strategy to attract a group of customers to whom company wants
to sell their products or services. The reason behind opening the Chinese restaurant is to attract
young generation people, children and group of age of people between 35-45 age and the
people who like Chinese. In today's world young generation people go in new restaurants and
enjoy with their friends. Before opening the restaurant owner should do market research and
analyse the buying behaviour of the consumer. Staff of La- familia should do market research
to identify the strategies used by their competitors to attract customers and also determine
threats for the restaurant. A team of four to five members should be appointed for market
survey or research.
Supply chain management
Supply chain management will help the owner
and supplier of the restaurant to distribute product to the final
consumer. This network helps in providing information to the
consumer regarding new restaurants that is open and about the
quality of the product. The company will recruit agents or some
talented people for distribution of products to the end user.
REFERENCES
Hansen, M. W., and et.al., 2018. Coping with the African
business environment: Enterprise strategy in response to
institutional uncertainty in Tanzania. Journal of African
Business. 19(1). pp.1-26.
Daschner, S., 2017. Architecting Modern Java EE Applications:
Designing lightweight, business-oriented enterprise applications