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(solved) Business Development Assignment

   

Added on  2020-10-22

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BUSINESSDEVELOPMENT 1
(solved) Business Development Assignment_1

EXECUTIVE SUMMARYThe presented business proposal is of Chuck & Chick restaurant which is going to setupits restaurant business in Malta. The business idea is based on multi-cuisine food that will beserved by following the cultural procedure of country whose cuisine food will be going tosevered. These restaurant will be established at three prime locations of Malta such as Popeyevillage, Azure window and Gozo island as these are the tourism attraction place. The reasonbehind working over cultural themed restaurant is that it is totally a new concept which keepscompetition away. This present report elaborates about the Business development report thatcontains a detail about mission and vision of restaurant. In addition to this it also describe aboutthe concept behind this business idea over which feasibility analysis will be performed that helpin preparing an effective business plan.
(solved) Business Development Assignment_2

Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................5Rationale.................................................................................................................................5Vision:-...................................................................................................................................5Mission:-.................................................................................................................................5Design and structure of the report..........................................................................................6Relevant Model and Information sources used......................................................................7Assumptions...........................................................................................................................7Timescale for achievement.....................................................................................................8BUSINESS CONCEPT...................................................................................................................9Facilities or services ..............................................................................................................9Target market........................................................................................................................10Value added..........................................................................................................................10Specific Feature....................................................................................................................11Who is involved....................................................................................................................11Windows of opportunity.......................................................................................................11FEASIBILITY RESEARCH ........................................................................................................12Primary and Secondary data needs.......................................................................................12Research methodology.........................................................................................................135 Key areas of feasibility research........................................................................................13Marker feasibility.................................................................................................................21Industrial feasibility..............................................................................................................22Organisational Analysis........................................................................................................24Financial feasibility..............................................................................................................25Ambition Vs Ability.............................................................................................................28THE BUSINESS MODEL.............................................................................................................29The core strategy..................................................................................................................29Business Canvas Model........................................................................................................30BUSINESS PLAN FOR A NEW RESTURANT SETUP ..................................................37
(solved) Business Development Assignment_3

IN MALTA...........................................................................................................................37Executive summary..............................................................................................................38Geographical market location and customer acceptance......................................................38Business potential.................................................................................................................38Strategies for competitive advantage....................................................................................38The Team..............................................................................................................................39Legal structure......................................................................................................................39Partners.................................................................................................................................39Business plan for The Chuck & Chick restaurant................................................................391. The industry, company & products..................................................................................402. The Market.......................................................................................................................413. Marketing approach..........................................................................................................44Potential risk for Chuck & Chick restaurant........................................................................46Critical factor for success.....................................................................................................47Visibility of plan...................................................................................................................48Visibility of Budget and investment.....................................................................................49FINANCIAL FORECASTED.......................................................................................................50REFERENCES..............................................................................................................................53
(solved) Business Development Assignment_4

INTRODUCTIONPresent report is about a business development plan of chain restaurant which is going tobe established at three prime locations in Malta. It will be a multi cuisine restaurant which isnamed as “Chucks and Chicks restaurant”. Multi cuisine refers to the a specific set of cookingtradition and practices that are usually associated with some specific culture as well as region ofparticular country (Balcerzak and Pietrzak, 2017). These restaurant will cook and serve newdishes which is made up by combining the basic cuisine food of countries like China, Italy andMexico with the local food of Malta in order to form up new or unique dishes.RationaleThe main aim behind selecting this business start up idea is that Malta is a basic tourismattraction place where number of foreigners visit daily in a large quantity. Hence, for thebusiness like restaurant there are great opportunity is present at marketplace. Therefore by settingup a restaurant chain it become easier to position it and attract large number of customer throughits unique preposition. Another reason behind selecting this business ides is that there are numberof restaurant which offer local as well as some basic cuisine dishes. But none of them offer corefood of a particular country, so by setting up this chain restaurant there will be a greateropportunity for getting more customers traffic at initial stage. In addition to that, this businessstart up if positioned and maintained successful then it be able to setup monopoly at marketplacebecause it working toward offering something unique and new to the local people as well astourist in Malta. Vision:-“Vision of restaurant is to growth in market place for becoming a leading and culturalthemed restaurant at Malta by capturing market share of around 70% by 2025.” Mission:-The mission statement of Chucks and Chick restaurant is given below that help inreaching up to vision of restaurant:To satisfy the expectation of customers by delighting them with restaurant services. To position this restaurant as a place which serve multi-cuisine food in a way that reflectthe cultural of origin country.
(solved) Business Development Assignment_5

Design and structure of the reportThe presented business development plan of Chuck and Chick restaurant is divided into5 section. The information these section contain is explained below:Introduction:-This is the first part of business plan that brief about the restaurant chain start up ideaalong with the reason behind its selection in rationale part. In addition to this it also includesinformation about the vision and mission statement of restaurant along with further futureassumption as well as time scale for overall business plan. Business concept:-This section describe about the basic idea behind the business plan of Chunk & Chickwhich it is going to set up in Malta. Further it also contain the information about food, services,target market, special feature, people involved as well as value added factors that it is offeringin marketplace that make them unique from others (Hickson 2016). Feasibility study:-This section work toward gathering and evaluating the information in order to judgetheir plan on the bases of its viability or soundness, by marking it over the criteria of datacollected about market as well as opportunities (Li and et. al., 2016). For achieving it, thissection includes a detail about feasibility plan, research methodologies along with primary andsecondary data. Apart from this it also includes five key area of feasibility research such asproduct/services, market, industry, financial and organisational factor. Then it contain resultfrom this analysis as per ambition or ability of business. Business Model:- This section will elaborate about the introduction of business model of Chucks & Chickrestaurant along with elements involve in this. Further it also contain Core strategy that supportin achieving competitive advantage and sustainability. It also contain description about resourcerequired, networks & partnership details. Business Plan:- This is the last section of business development plan which involve the informationcollected from secondary sources. This gathered information will help toward the insight ofpotential risk involved in business, opportunities present and viability of plan by consideringbudget as well as investment requirement.
(solved) Business Development Assignment_6

Relevant Model and Information sources usedIn order to develop an effective business development plan, information is required tocollect in effective manner so that proper actions can be taken toward the establishment for thisbusiness. For performing research over this business plan primary as well as secondary datacollection method has been used which help in developing an understanding in this area bycombining the knowledge of existing as well as fresh data of market (Springer and et. al., 2016).In primary source data will collected using questionnaire in which some questions are beingasked by target market that support in identifying the reliability of business plan and view ofcustomer toward this idea. For collecting secondary data journals, articles or magazines will beused for obtaining desired information on similar concept viewed by different people. On the other side, Porter's five force model will be used that support in collectinginformation regarding the competition or several threat that are present in market and may affectbusiness when set up (King and Mackey 2016). This will support Chucks & Chick restaurant todetermine the actual scenario of market along with the scope of this new idea of food offeringwithin Malta. AssumptionsIn order to conduct an effective business plan for a restaurant start-up followingassumptions are being made for supporting and creating a foundation of business proposal:There is an huge demand of restaurant that have a capability to mix match the cuisinestyle, taste and culture of different countries with an aim to offer new or unique dishes. Malta is a country where majority of tourist stay and visit, therefore at this placerestaurant will easily be able to position its business in marketplace. Chefs that are appointed from different nations will also remain committed to theirproject. Local people are fed up with similar sort of food as well as common cuisines and nowwant something new or more innovative food dishes. This will created a possible successchance for restaurant in Malta as it is offering totally new dishes. It has been assumed that the restaurant will not be able to create more profit in initial yearbut as the time passes it will be able to generate revenue of around 20,000€ in first year,40,000€ in 2nd year and around 70000€ in 3rd year.
(solved) Business Development Assignment_7

Timescale for achievementWork over this project will be commenced from march 2019 and before April endingmarket research for this project will be performed with an aim to determine the potential risk aswell as opportunities that are present for Chucks and Chicks restaurant within Malta. In the midof May, locations for restaurant will be determined and evaluate on the bases of its pros or consas well as approach of customers. After deciding the restaurant setup locations, proposal will beprepared in order to attract investors for influencing them to invest in business. After this in Juneend, application regarding legal licence for operating restaurant will be forwarded. Once all theseactivities has been performed, human resource consultancies will be approached in order to hirebest suitable and experienced staff who can support restaurant in accomplishing their objectives.These activities will be completed by the end of October and from this procedural work it can beestimated that Chuck and Chicks restaurant will be able to start construction work of its outlet byNovember and can start its business by 1st April 2020.
(solved) Business Development Assignment_8

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