Restaurant Business Analysis and Plan

This assignment delves into the financial analysis of an existing restaurant, examining past sales and profit data over ten years. Students apply descriptive statistics and visualization techniques to identify trends in revenue and profitability. Based on the analysis, they develop a comprehensive business plan for opening a second restaurant location in London, incorporating project management methodologies like Gantt charts and network diagrams.

Business decision-making
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Table of Contents
INTRODUCTION................................................................................................................................3
TASK 1.................................................................................................................................................3
1.1 Create a plan for primary and secondary data...........................................................................3
1.2 Survey methodology and sampling frame.................................................................................4
1.3 Design a questionnaire for given business problem..................................................................5
LO 2......................................................................................................................................................8
2.1 Create information for decisions-making by summarising data using representative values....8
2.2 Analyse the results to draw valid conclusions in business context..........................................11
2.3 Analyse data using measures of dispersion to inform business...............................................12
2.4 Explain how quartile. Percentile and correlation coefficient are used to draw useful
conclusion......................................................................................................................................12
TASK 2 ..............................................................................................................................................13
3.1 Produce graph using spreadsheet and draw valid conclusions based on the derived
information.....................................................................................................................................13
3.2 Create trend lines in spreadsheet graphs to assist in forecasting for specified business
information.....................................................................................................................................15
3.3 Prepare a business presentation using suitable software and techniques to disseminate
information effectively...................................................................................................................16
3.4 Prepare a formal business report..............................................................................................16
LO 4....................................................................................................................................................17
4.1 Use appropriate information processing tools.........................................................................17
4.2 Prepare a project plan for an activity and determine critical path...........................................17
.......................................................................................................................................................18
.......................................................................................................................................................18
4.3 Use financial tools for decision-making..................................................................................19
CONCLUSION..................................................................................................................................20
REFERENCES...................................................................................................................................21
Index of Tables
Table 1: Determination of critical path of the project........................................................................21
Table 2: Calculation of pay-back period ............................................................................................21
Table 3: Calculation of accounting rate of return ..............................................................................22
Table 4: Calculation of net present value and internal rate of return ................................................22
Illustration Index
Illustration 1: Sources of data collection .............................................................................................4
Illustration 2: Methods of sample selection .........................................................................................6
Illustration 3: Previous 10 year's sales and profit of restaurant..........................................................12
Illustration 4: Descriptive statistics of sales and profit .....................................................................12
Illustration 5: Formula of standard deviation and variance................................................................13
Illustration 6: Correlation ..................................................................................................................14
Illustration 7: Column graph of sales an profit ..................................................................................15
Illustration 8: Line graph of sales and profit .....................................................................................16
Illustration 9: Bar graph of sales and profit .......................................................................................17
Illustration 10: Trend line of sales and profit ....................................................................................18
Illustration 11: Project plan to open second restaurant in London.....................................................19
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Illustration 12: Gantt chart to open new restaurant in London...........................................................20
Illustration 13: Network diagram of new restaurant's project............................................................21
3

INTRODUCTION
In all the business organizations, managers are responsible to govern business operations
and take decisions to improve potential performance. Decisions-making is the cognitive process
through which the most effective course of action can be selected among several alternative
possibilities. In the present report, a restaurant chain planned to open its second restaurant in
London. In order to assess the viability of such expansion program, this assignment will focus on
gathering data from both primary and secondary sources and analyse it by various statistical tools
and techniques and graphical presentation as well. Along with this, capital budgeting tools will be
used to identify most viable capital project. Besides this, the role of management information
system to record huge quantity of data and project management tools will be undertaken to
accomplish project within set time.
TASK 1
LO 1
1.1 Create a plan for primary and secondary data
Data collection is the first and foremost step of decision-making process. It is very
challenging task which need exhaustive planning, diligent work, proper understanding etc . In order
to open a new restaurant chain in the city of London, researcher can acquire data from both primary
and secondary sources, explained hereunder:
I
llustration 1: Sources of data collection
(Source: Gibbs and et.al., 2010)
4

Primary sources:
This sources provide new and authentic information that is particularly associated with
research goals and objectives (Polkinghorne, 2005). Following techniques are available to gather
primary information, given below:
◦ Observation
◦ Interviews
◦ Experiments
◦ Focus group
◦ Surveys
With regards to restaurant, survey of selected sample will be conducted through the use of
web-questionnaire. It will helps to assess customer taste, preferences, buying habits, price
sensitivity etc. Henceforth, it will make researcher able to open new restaurant according to the
consumers preferences.
Secondary sources:
It is second hand information which has been collected previously by any other person for
his or her research goal (Reynolds and et.al., 2005). Both internal and external sources are available
to the restaurant chain to obtain secondary information that are given below:
Internal sources External sources
 Past financial statements of restaurant
chain
 Governmental reports
 Sales record  Trade journals
 Inventory reports  Economic reports
 Profit records  Media, newspapers, telcasts
 Internet
 Articles
With reference to present research, internal data will be generated about sales and profit
figures over last few years whilst secondary data will be gather from web sources (Gibbs and et.al.,
2010). Secondary sources of data collection technique take less time and resources as compare to
primary sources.
1.2 Survey methodology and sampling frame
Survey methodology: It is the process of studying only the selected sample size from the universe.
Survey is a primary techniques of data collection in which research can gather required information
through direct or indirectly communicating with the affected parties like consumers (Matthews and
Ross, 2014). In present report, consumer survey will be undertaken by constructing questionnaire. It
5

comprises different set of questions like open-ended, close-ended, ranking etc. to obtain needed
information. The most important benefit of this is it enhance the accuracy and reliability of data.
With the assistance of this, restaurant can assess consumer's demand and perceptions towards taking
meal out so that, they can make logical selection for its proposed expansion.
Sampling frame:
Study the universe is not possible due to its complexity. Henceforth, all the researcher often
use sampling frame to select an appropriate size of sample by taking into consideration all the
characteristics of the population (Malhotra, 2012). Through this, restaurant will be able to conduct
survey of sample and analyse it to assess overall population of London.
Illustration 2: Methods of sample selection
(Source: Probability sampling, n.d.)
In Non-probability sample, each member of the population do not have any probability to include in
sample. However, in probabilistic samples, the probability of each member have an probability of
selecting in sample (Probability sampling, n.d.). In the present report, sample will be selected on the
basis of probability sample. In this, simple random sampling will be utilized in which sample of 100
consumers will be selected randomly without any biasness. In other words, it can be said that when
a sample is selected on random basis than there will be equal probability of each unit to being select
in sample.
1.3 Design a questionnaire for given business problem
It is essential for the effectiveness of questionnaire that each and every question must be
simple, properly explained and arranged logically (Fleischhacker and et.al., 2013). So that,
respondents will be able to understand it and give their responses accordingly. It will helps to
acquire prominent information and maintain high confidentiality also.
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Market survey questionnaire
Demographic information:
Name:
Gender:
Male: ( ) Female ( )
Marital status:
Single ( ) Married ( ) Married with child ( )
Age Group:
20 – 25 ( ) 35 – 40 ( )
25 – 30 ( ) 40 – 45 ( )
30 – 35 ( ) Above 45 years ( )
Monthly income:
less than £10000 ( ) £10000 - £15000 ( )
£15000 - £20000 ( ) £20000 - £25000 ( )
More than £25000 ( )
How many time do you often prefer to take meal out?
Once in a week ( )
1-2 times in a month ( )
3-5times in a month ( )
What do you think about taking meal out in restaurant?
More convenient than preparing food at home ( )
Tasty food at effective prices ( )
Not very clean ( )
How much amount do you usually spend on restaurant services in a month?
Less than £30 ( )
£30 - £40 ( )
£40 - £50 ( )
More than £50 ( )
Which type of cuisine do you like the most?
Indian ( ) Continental ( )
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Chinese ( ) Italian ( )
American ( ) European ( )
Which kind of architectural style of the restaurant do you like the most?
Traditional ( )
Modern ( )
Homey ( )
Traditional and Modern ( )
Romantic ( )
Baroque ( )
Which of the among factor has an great impact on your pricing decisions when you desire to eat
meal out in any restaurant?
Price ( )
Taste ( )
Price and taste ( )
Staff services ( )
Hygiene ( )
Attractive discounts ( )
Infrastructure ( )
How much prices do you like to pay for excellent and delicious food services in a restaurant?
High prices ( )
Reasonable prices ( )
Low prices ( )
On which day, do you often go to the restaurant?
Birthday ( )
Wedding anniversaries ( )
Business parties ( )
Public holiday ( )
Which type of music do you often prefer while eating meal out in restaurant?
Soft music ( )
Jazz music ( )
Pop music ( )
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Please recommend ways to enhance level of customer satisfaction in a restaurant.
-----------------------------------------------------------------------------------------------------------------
Thank you for giving your responses
LO 2
2.1 Create information for decisions-making by summarising data using representative values
 European and Continental cuisine gains greater preference
Findings and analysis: In our survey, 30% Londoners replied that they often prefer to take
continental food whereas 28% consumers replied that they prefer European cuisine. On contrary to
this, less percentage of sample prefer other cuisine line Indian (13%), Chinese (9%), American
(11%) and Italian (9%). Thus, it can be said that European and Continental food will be highly
demanded by most of the people resides in London.
 Traditional and modern architectural style gains high preference
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Indian Chinese American Continental Italian European
0
5
10
15
20
25
30
35
13
9
11
30
9
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Findings and analysis: As per the graph, most of the Londoners (37%) like traditional and modern
architectural style rather than Traditional (9%), Modern (12%), Homey (10%), Romantic (22%) and
Baroque (10%). Thus, it can be said architecture of new restaurant must be design in a mixture of
Traditional and Modern style.
 Price and taste has high impact on consumer's buying decisions
10
Traditional
Modern
Homey
Traditional and modern
Romantic
Baroque
0
5
10
15
20
25
30
35
40
9
12 10
37
22
10
Price
Taste
Price and taste
Staff services
Hygiene
Attractive discounts
Infrastructure
0
5
10
15
20
25
30
35
40
45
7
12
42
12 11 10
6

Findings and analysis: Above graph reflects that 42% of the sample replied that both price and
taste gains equal importance and affect their buying decisions to a great extent. On contrary to this,
factors like only price, taste, personnel service, discounts, hygiene and infrastructure gains less
importance over price and taste. So that, it can be said that new food outlet should be based on
quality products at reasonable prices.
 Pop music gains high preferences
Findings and analysis: Presented graph reflects that 52% of the total respondents replied that Pop
music is highly preferred by them. While, less proportion likes other music like soft (12%), jazz
(18%) and other music (18%). Therefore, it can be said that restaurant should be based on Pop
music so that large number of customers can be satisfied.
Secondary data:
11
Soft Jazz Pop Other
0
10
20
30
40
50
60
12
18
52
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2.2 Analyse the results to draw valid conclusions in business context
Mean: It is also known as average which can be determined by dividing the sum of
measurement with the total number of measurements (Zheng and et.al., 2016). With reference to the
restaurant, its average revenue is £1309 and average profit is £144.1. On the basis of above average,
it can be concluded that there is a possibility that in future years, restaurant's minimum sales and
profit figures will be equal to this average.
Mode: It is most frequent value which incurred for more than once time or has highest
occurrence as compare to other values (Leys and et.al., 2013). Mode does not available in all the
values because none of the figures has been incurred frequently in more than one year. It indicates
that potential sales and profit will be fluctuate from the current level in any direction.
Median: It is middle (50% or ½) of the series which distribute observed set of data into two
parts, one is above ½ and other is below ½ (Davis, 2015). Median of the sales is £1245 whilst in
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D e s c r ip ti v e s t a ti s ti c s s a le s p r o fi t s
Me a n 1 3 0 9 1 4 4 .1
S ta n d a rd E rror 7 1 .7 2 3 2 .9 6
Me d ia n 1 2 4 5 1 1 6 .5
Mod e # N /A # N/A
S ta n d a rd D e v ia ti on 2 2 6 .7 9 1 0 4 .2 3 8 5
S a m p le V a ria n c e 5 1 4 3 7 .7 7 1 0 8 6 5 .6 5
K u rtos is 0 .4 3 3 .9 8 3 5 6 4
S k e w n e s s 1 1 .8 9
R a n g e 7 2 0 3 4 8
Min im u m 1 0 5 0 5 2
Ma x im u m 1 7 7 0 4 0 0
S u m 1 3 0 9 0 1 4 4 1
C ou n t 1 0 1 0
Illustration 4: Descriptive statistics of sales and profit
S.no. Sales Profit
1 1100 55
2 1050 94
3 1190 119
4 1145 52
5 1200 80
6 1290 114
7 1340 136
8 1430 161
9 1575 230
1 0 1770 400
Illustration 3: Previous 10 year's sales and profit of restaurant

case of profit, it is £116.5. From the above, it can be seen that restaurant's current sales level is
higher than median hence, there is a greater probability that in future years, its revenue and profit
will go beyond median value.
2.3 Analyse data using measures of dispersion to inform business
Dispersion is an statistical techniques which measure an extent to which each and every
individual item vary. Spread, scatter or variability of a series can be determined through such
measurement. In other words, it indicates that how close data are clustered or associated from
central tendency measurement.
Range: It measure spread between maximum and minimum value of a series (Definition of
range, n.d.). Hence, it indicates the greatest value of scatter of observed figures.
Range = Largest data value – lowest data value
With reference to restaurant's revenue, range is £720 and profit range is £348.
Standard deviation and Variance: This statistical methods of dispersion is more better
because it measure difference between each separate unit and central tendency measurement to
assess scatter or stretched in given set of figures. Variance avoid positive or negative sign when
taking this deviations while standard deviation use deviation with signs. Square root of the
variances indicates standard deviation (Hocking, 2013).
Illustration 5: Formula of standard deviation and variance
(Source: Hocking, 2013)
Variance of sales and profit is £51437.78 and £10865.7 while standard deviation is £226.79
and £104.238 respectively. High value of standard deviation reflects that data are highly volatile
from the median value.
2.4 Explain how quartile. Percentile and correlation coefficient are used to draw useful conclusion
Quartile and percentile: Values that indicates 25 percentage (¼) of given set of figures is called
quartile, expressed as Q (Liu, Hu and Gu, 2015). However, percentile measures value which fall
below a fixed percentage of observation in overall data set, denoted as P.
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Quartile Percentile Sales Profit
1 25 1156.25 83.5
2 50 1245 116.5
3 75 1407.5 154.75
4 100 1770 400
Correlation: Linear relationship between two series can be find out by correlation (Cohen and
et.al., 2013). Through this, restaurant can find out the level, strength and direction of changes in
profits with variability in sales. The highest and minimum range of correlation is +1 to -1.
Illustration 6: Correlation
(Source: Cohen and et.al., 2013)
Correlation co-efficient of 0.94 indicates that each pound increase or decrease in sales will
change profit by 94% in same direction. Thus, it can be suggested that restaurant should enhance
their revenue by rendering food services according to customer taste and preferences so that, it can
increase their potential profitability.
TASK 2
LO 3
3.1 Produce graph using spreadsheet and draw valid conclusions based on the derived information
Here, data regarding past 10 year's turnover and profit figures of restaurant are presenting
graphically so that it can be analyse more effectively (Patra, 2014).
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15
1 2 3 4 5 6 7 8 9
0
200
400
600
800
1000
1200
1400
1600
1800
1100 1050
1190 1145 1200 1290 1340 1430
1575
1770
55 94 119 52 80 114 136 161 230
400
Illustration 7: Column graph of sales an profit
1 2 3 4 5 6 7 8 9
0
200
400
600
800
1000
1200
1400
1600
1800
2000
1100 1050
1190 1145 1200 1290 1340 1430
1575
1770
55 94 119 52 80 114 136 161 230
400
Illustration 8: Line graph of sales and profit

Interpretation: From the above presented graphs, restaurant's past turnover and profit values
over last ten year's can be seen. With regards to revenue, initially, it has been declined or inclined as
in has been declined to £1050 thereafter increased to £1190 than again decreased to £1145.
Thereafter, the figures shows an rising trend but still the rate of increase in fluctuating. For instance,
it has been increased to £1290 by 7.5% thereafter it has been rose up to £1340 by 3.87%. Whilst,
after that, it is continuously rising at increased rate by 6.72%, 10.14% and 11.02% respectively
which is good. On the other side, profitability performance also has been increased or decreased
with the fluctuation in sales. Due to this, in last three years, restaurant's profit performance has been
improved at increasing rate by 18.38%, 42.86% and 73.91% respectively. Growth in demand,
increasing number of consumers, expansion, online operations, more effective services, cost
effective prices etc. may be the reasons behind high revenue and profitability.
3.2 Create trend lines in spreadsheet graphs to assist in forecasting for specified business
information
Trend line indicates potential movement of data on the basis of their previous occurrences.
In business context, trend line is often use by management to forecast future and thereby make
advance plan accordingly (Deochand, Costello and Fuqua, 2015). Trend line may shows three trend,
upward, downward and constant. With regards to restaurant, trend line can be drafted to predict
future trend of sales and profit as well.
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1
2
3
4
5
6
7
8
9
0 200 400 600 800 1000 1200 1400 1600 1800
1100
1050
1190
1145
1200
1290
1340
1430
1575
1770
55
94
119
52
80
114
136
161
230
400
I
llustration 9: Bar graph of sales and profit

Interpretation: Presented graph reflects upward slope of trend line which indicates that
restaurant's sales and profit will be increase in upcoming years. Changing society attitude and
perception towards taking meal out, increasing income, consumer awareness through marketing,
attractive discounting offers. Improved standard of life and additional services like event planning
etc. may be the reason behind such potential occurrence. Through this trend line, it can be said that
in the future period, restaurant will perform much better and earn grater yield through operations.
3.3 Prepare a business presentation using suitable software and techniques to disseminate
information effectively
PPT attached.
3.4 Prepare a formal business report
To: Board of directors of restaurant
From: Research analysts
Date: 2nd June, 2016
On the basis of above analysis, it can be reported that restaurant's revenue and profit shows
an volatile trend over last ten years. Initially, it has been increased and decreased while over last
five years, it is increasing on an consistent basis. But still, it must be reported that the rate of
increasing does not remain constant. In context to sales, restaurant's revenue is increasing at high
rate in recent five years. However, in case of profit, last three years profit is improving at higher
rate which indicates that restaurant is accomplishing customer need to enhance its performance.
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Sales
Exponential (Sales)
Profit
Exponential (Profit )
1 2 3 4 5 6 7 8 9
0
200
400
600
800
1000
1200
1400
1600
1800
2000
1100 1050
1190 1145 1200 1290 1340 1430
1575
1770
55 94 119 52 80 114 136 161 230
400
f(x) = 970.9632906099 exp( 0.0520121293 x )
f(x) = 45.6011476045 exp( 0.174972628 x )
Illustration 10: Trend line of sales and profit

On contrary, trend line estimated that potential sales and profit of restaurant will go rise in future
years. Expansion, increasing consumers, high loyalty, discounting offer, cheaper prices, variety of
cuisine, events, changing people attitude towards dining out may be the reasons behind this. Thus,
it is clear that restaurant's potential performance will be high from current level.
LO 4
4.1 Use appropriate information processing tools
Information processing is the process to obtain required reports with the helps of transaction
processing system. Management information processing (MIS) tool will be very appropriate
information processing tool which restaurant can use to record information and generate reports
(Sousa and Oz, 2014). The reason behind this is in the technological age, it becomes very
complicated to prepare manual reports with keeping high security. MIS tool provide assistance to
keep detailed records about menus, inventories, guests order, invoices, marketing operations, sales,
purchase, etc.
Accounting information system (AIS) tool of MIS can be use to prepare accounts so that
performance can be evaluated. Thus, financial managers can control cost and frame strategies to
enhance restaurant's financial performance. While, Transaction processing system (TPS) perform
data integration to generate reports in an appropriate manner. So that, restaurant's managers will be
able to remove operational hurdles. On contrary to this, Decisions support system (DSS) is a web-
based program which middle and higher level managers can use to resolve issues and conflicts by
taking effective decisions. Besides this, Executive information system (EIS) helps to summarize
reports of all the department quickly. All the systems will make restaurant manager to assess their
strength and weakness and take quick decisions by effective analysis.
4.2 Prepare a project plan for an activity and determine critical path
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Gantt chart:
19
Activities Duration Preceding activities
Restaurant planning 1 month -
New location identification 5 months -
Alteration in Ambience 2 months -
Retirement of staff 2 month 1
Renovation of building 0.5 month 2
Implementation of various policies 2 months 3, 4
Training and workshops 1 month 5
Printing and documentation of menu card 0.5 month 6, 7
Starting of restaurant 0.5 month 8
Monitoring 1 month 9
Preparation of opening 1 month 10
Illustration 11: Project plan to open second restaurant in London

Illustration 12: Gantt chart to open new restaurant in London
Network diagram:
Illustration 13: Network diagram of new restaurant's project
Critical path:
Table 1: Determination of critical path of the project
Activities Duration (In months)
2 5
5 0.5
7 1
8 0.5
9 0.5
10 1
11 1
20

Total 11.5 Months
4.3 Use financial tools for decision-making
Financial tool of capital budgeting helps to take decisions about capital expenditures. In this
regard, expenditures which are very huge in amount and have a long life time (purchase fixed
assets) are called capital expenses (Baum and Crosby, 2014). Capital budgeting tool analyze each
project by identifying their return so that restaurant can select such project in which greater chance
of profitability exists.
Pay back period indicates time period to get back initial cash outlay.
Table 2: Calculation of pay-back period
Year Project A Cumulative Project B Cumulative
Initial
investment -120000 -120000
1 28000 -92000 29000 -91000
2 35000 -57000 38000 -53000
3 47000 -10000 53000 0
4 68000 58000 68000 68000
5 56000 114000 79000 147000
Project A = 3 year + (£10000/£68000)
= 3.15 year
Project B = 3 year
Accounting rate of return (ARR) express the percentage of return on initial cash investment (Kerr,
Phaal and Probert, 2012).
Table 3: Calculation of accounting rate of return
Year Project A Project B
Initial
investment 120000 120000
1 28000 29000
2 35000 38000
3 47000 53000
4 68000 68000
5 56000 79000
Total 234000 267000
Average 46800 53400
ARR 39.00% 44.50%
Net present value shows surplus of estimated future values of cash inflows over initial project's
investment (Dyson and Berry, 2014). However, Internal rate of return (IRR) shows rate at which
21

NPV will be nil and project cost will be equal to the potential values of cash inflows.
Table 4: Calculation of net present value and internal rate of return
Year Project A Project B DV at 10% Discounted value (A)
Discounted
value (B)
Initial
investment -120000 -120000 1 -120000 -120000
1 28000 29000 0.9091 25454.55 26363.64
2 35000 38000 0.8264 28925.62 31404.96
3 47000 53000 0.7513 35311.80 39819.68
4 68000 68000 0.6830 46444.91 46444.91
5 56000 79000 0.6209 34771.59 49052.78
IRR 23.26% 27.80% NPV 50908.47 73085.98
Interpretation: Pay back period of project B is shorter to 3 year and ARR is high to 44.50%.
Moreover, IRR and NPV of project B is greater to 27.80% and £73085.98. Henceforth, all the
results clearly exhibit that project B is more viable as compare to A and should be accepted.
CONCLUSION
Above project report concluded that Survey methodology is the best technique to collect
reliable and accurate data. Primary analysis concluded that new restaurant should offer variety of
European and continental cuisine at reasonable price and it should be based on pop music and
traditional and modern architectural style. While, secondary analysis concluded that restaurant's
revenue and profit over last five years are rising at higher rate. Due to this, trend line predicted that
there is a greater possibility that restaurant will earn high revenue and profit in forthcoming years.
In end, report concluded that project B is more viable and will provide greater profitability to
restaurant.
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