Business Development Plan

This business development plan focuses on the opening of Bays Waterfall restaurant in London, offering a unique dining experience with a waterfall. It includes a product/service description, rationale for the business idea, critical success factors, and financial analysis.

Business Development Plan

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................1
BUSINESS OVERVIEW ...............................................................................................................1
The vision....................................................................................................................................1
The mission.................................................................................................................................2
Core values..................................................................................................................................2
Business objectives.....................................................................................................................2
Product or service description.....................................................................................................3
Rationale for business idea..........................................................................................................3
Critical success factors ...............................................................................................................4
LITERATURE REVIEW ...............................................................................................................6
RESEARCH METHODOLOGY ..................................................................................................10
FINDINGS.....................................................................................................................................11
BUSINESS ENVIRONMENT ANALYSIS.................................................................................11
Pestle analysis...........................................................................................................................11
SWOT analysis.........................................................................................................................13
MARKETING STRATEGIES ......................................................................................................14
Focus for market segment.........................................................................................................14
Core Business segments............................................................................................................14
Market timing............................................................................................................................14
Market penetration....................................................................................................................14
Market development................................................................................................................15
Marketing mix...........................................................................................................................15
Segmentation, targeting and positioning (STP approach).............................................................17
Competitor analysis...................................................................................................................18
Risk assessment.........................................................................................................................20
MANAGEMENT ..........................................................................................................................22
Operational plan .......................................................................................................................23
Key resources ...........................................................................................................................24

FINANCIAL ANALYSIS ............................................................................................................25
Cost structure ...........................................................................................................................25
Start-up capital .........................................................................................................................26
Gross and Operating Margins...................................................................................................27
Profit Potential and Duration....................................................................................................27
Fixed and variable cost.............................................................................................................27
Break even analysis...................................................................................................................27
Time to break even....................................................................................................................30
Time to positive cash flow........................................................................................................30
Venture and working capital needs...........................................................................................31
CONCLUSION & RECOMMENDATIONS................................................................................31
REFERENCES..............................................................................................................................32

EXECUTIVE SUMMARY
The present business plan is based on coming up with the new business named as Bays Waterfall restaurant in London
introducing in busy location of the Bayswater, within which the market is having a concentration of the restaurants at all the levels in
order to serve all the market segments. The restaurant industry in the UK has been seen as growing strongly over the years but due the
increase in cost and poor demand of the consumer in respect to the UK's decision for leaving a European Union had reversed such
trend in the other half. The performance of an industry is been influenced by the trends in the consumer preferences because the
disposable income and the confidence of consumer has been declined in the year 2016-17 and the households resulted a increase in the
weekly expenditure on the restaurants. The study will be throwing a deeper insights towards the product and service description and
the cost volume analysis and strategies that the business will be adopting for the purpose of attaining a competitive edge against its
rivalry. Furthermore, financial projections will also be made for making the feasibility study that the business will generate sufficient
profits or not. Moreover, the report will be presenting marketing, operational and development plan that are the major elements of the
new business which leads the business towards achieving a growing success in the future and in increasing the market share with loyal
customer base.
BUSINESS OVERVIEW
The vision
Vision of Waterfall luxury restaurant is to attain growth by delivery quality food experience to consumers of different cuisines.
The vision of restaurant is based on hanging lifestyle and food preferences of people. The aim of fine dine will be on serving extra
ordinary luxurious and refreshing experience to gain people with different preferences.
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The mission
The mission of restaurant is to set luxurious environment of fine dine keeping in mind the concept of waterfall which will be
managed by focusing on the seating arrangement of restaurant. In this focus of fine die will be on privacy of guest and view of
waterfall. The restaurant will offer significantly different taste of dishes from Italy, Mexico, Afghan, Asia, Australia, Philippians and
Finland.
Core values
 Consistency in quality of services will be foremost priority of waterfall luxury restaurant. However, to main consistency of
services the managing staff of restaurant will brief guest about the different services and quality of food. This will be done to
create value of services and for serving food which will help in delivering value for money.
 Foremost priority of Waterfall restaurant will be customers and therefore will be involved in decision making like changes in
cuisines, price, quality, etc. This will help in deriving interest of potential guest and will aid in developing loyal customer base.
 Authenticity of restaurant will be another major focus of restaurant which aid in managing relationship with customers
(Hwang, Han and Kim, 2015). The authenticity standards of restaurant will be focused engaging staff of restaurant with
consumers, being honest on quality of food, test of the food quality on the basis of quality parameters.
 Group work in the restaurant play a crucial role and therefore Waterfall luxury restaurant will be focused on diving work of
staff in synchronised ay and will focus on continuous training and monitoring. This will be done to manage conflicts and maize
the risk of errors in consumer services.
Business objectives
 To attain competitive position in London against all restaurant business within 8 months.
 To increase sales of services by 5 % within 6 months
 To attain loyal customer base of at least 6 % within 1 year
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 To grow business sin London in with 3 years to increase availability of quality food and the concept of waterfall luxury fine
dine
Product or service description
The restaurant will be offering a multi cuisine dishes that includes Asian, Thai, Mexican, Italian etc with different flavours
served with unique presentation to the visitors. It will serve all types of salads, starters, beverages, drinks and main course with wide
variety and delicious taste served as the classical traditional cuisine with a flavour of different sauces. The services of the restaurant is
different in terms of its location as it will be serving the food to the visitor within the location or area where they can enjoy the
waterfall and could have a dinner. Services with regards to the payment facility will include accepting the payments through the use
of debit or the credit cards or an online payment form by making use of the payment app. The restaurant will not give online services
and provides for only in-store services where the guest or the visitors can experience the place and have their dinner and lunch with
soft music and waterfall. The restaurant will also involve photo booths for the guest at various points so that they could take good
pictures with their family and the friends that in turn creates memories. Bays waterfall will be serving the dishes to the guest that
contains a mix of Indian and Asian flavours and its menu will comprise of the dishes relating to different cuisine. Visiting the
restaurant guest could enjoy free WI-FI facility, transparent food preparation facility, DJ, Games, screening etc. so that visitors will be
enjoying all the things at one place and it induces them to visit the place on a frequent basis. It also provides natural and live dishes
that will be prepared instantly in terms of deserts, starters and Mock-tails. Such food and drink dishes are made up of the natural
ingredients with wide range of flavours that involves mint, fruit and dark chocolates.
Rationale for business idea
The fact behind choosing this business idea is to bring a unique experience for the customers by serving them food besides a
rainfall that is not been used by any other restaurants in London. In today's evolving world people prefer to go in a restaurant for
having a dinner with the family and the friends. People actually cook their foods on its own at the home but there are many of the
people specifically youth chooses to eat in the restaurant, particularly busy people. As such people do not have enough or sufficient
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time in cooking at the home, they mainly prefers to go outside and have their food. Moreover, at the time of special occasion or an
events there are many people who chooses in celebrating a place other than its home and desires to taste different kinds of the foods.
As Bays waterfall restaurant tend to be imaginative and creative when it comes to foods and waterfall experience that the business is
preparing for in comparison to other restaurant businesses in London.
Critical success factors
There are various factors that the restaurant needs to considers for attaining success in the near future or the future periods are as
follows-
Targeted marketing- For achieving success, Bays Waterfall restaurant has to make sure that its marketing strategies focuses on
its trade are, customer demographics and its buying behaviours. It needs to find several ways in measuring the success for each of the
marketing program.
Quality food- It is very important for the restaurant to focus on providing a quality food in order to ensure the good health and
safety of the guests. This in turn helps the restaurant in achieving success with well known brand value in the future periods or in long
term.
Quality services- The restaurant is said to be good as its lasts with the better customer interaction by greeting them and
offering them the best taste which meets their expectation (Chitty, D'Alessandro and Gray, 2019). By facilitating them an ease in the
services such as providing them Wi-Fi facility and the online payment services, company can attain success.
Flawless implementation- By doing all elements of an experience, it is expected from the restaurant in providing to the
customers and taking an action for providing a flawless services to the guests.
Customer data- Before opening a restaurant, it has to make a research on analysing its targeted customers that is information
relating to their demographic profile, their preferences and the needs. Thereafter, in accordance to the desire of a customer,
restaurants have to plan its strategies and setting the menu accordingly so that they will prefer to visit the restaurant on a quick basis.
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Customer feedback- It relates to encouraging the customers in facilitating the feedback at times they are been served and in
relation to the experiences that they feels regarding the services that are provided by the restaurant. This helps in attracting more
customers which leads to achievement of success in the future.
Realistic financial formula- Restaurant has to assess that its business will generate a sufficient revenues in meeting fixed cost
and a estimation of the profits after the variable cost are reduced (Alves, Fernandes and Raposo, 2016). By applying an investment
appraisal technique, it can analyze the feasibility and viability of the study which is very important for analyzing the success of the
company in the future periods.
Labour balanced as per demand- In order to open doors, a business requires evaluating basic labour needs as its cost reflects as
the fixed cost. The profits are often been squandered through the poor scheduling of the variable cost that represents an additional
labour which need to meet an anticipated demand and knowing the requirements of the labour in respect of hour and the schedule
accordingly.
Winning attitude- For gaining success, Bays Waterfall must seek for a winning attitude in terms of its staff by showing a
positive attitude towards the guest or the visitors.
Competitive advantage- It has to analyze competitor of the business who offers same kind of the services and the products to
the consumers. Bays waterfall restaurant need to check out its location, customer service, prices and significantly relating to its food
quality and menu. By identifying the creative and unique dishes that can be offered to the consumers where its competitor lacks like
better discounted prices, several cuisines with different flavours etc.
Employees- It has to be taken care by the restaurant for gaining success in the long run that highly reliable employees are hired for
running its business. In case its cooks, servers, bus-boys are not performing their job effectively then it would be charging a high cost
for the business. By setting higher standards for its employees is seen as critical factor for attaining success. By setting higher
standards for its employees are counted as the real people and not a commodity. By treating employees as a member of an
organization is very critical for retaining a best or large talent at the workplace.
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Sanitation- By keeping an entire restaurant not only clean but also sanitary is very essential for the restaurant. Floors, restrooms,
table tops and the kitchen must be disinfected with an effective solution for cleaning. Restaurant should consider a strong odour of the
cleaning chemicals so as to make sure that the substances like bleach are diluted in a well manner. It is critical that all the employees
are educated on standards of local health department and in looking towards that the business meets each of the critical factors.
LITERATURE REVIEW
To identify the growth of food industry and their impact on planning strategy for opening waterfall luxury restaurant.
According to Jang, Zheng and Bosselman, (2017), food industry is growing at approximately 5% every year. The global
expenditure on the food and beverage products are expected to reach around US$20 trillion by the year 2030. The food industry tends
to offer several benefits beyond the basic nutrition. It is considered to be one of the growing global segment within the global food
industry. According the market research done by the MCA, they sought to evaluate that, fast food industry has doubled the growth of
its products and services over the past 3 years and is expected to be worth around £9.8 billion by 2021. Lee, and Barker, (2017) sought
to analyse the fact that, the food industry is expected to be one of the largest sectors in the United Kingdom. It has led to higher
economic contribution which mainly accounts for 17% of all UK manufacturing GVA. , the restaurant business in the UK has faced
major decline in the UK restaurant market. The worth of restaurant industry in United Kingdom is estimated to be £38 billion. UK has
approximately around 86000 restaurants which tends to participate in the restaurant sector. Brits tend to spend around £18 on eating
out on a weekly average. This industry tends to play a key role in improving the functioning of the economy. It is one of the crucial
sector which tends to employ around 988,000 people within the restaurant sector. Bonn, Cho and Um, (2018) critically investigated
that, Growing food industry tends to demonstrate that, opening of innovative waterfall restaurant in the UK tends to result in
effectively carrying out several business operations with ease. This helps in offering innovative ambience with the view of the
waterfall by offering wide range of food and drinks with the scenic and eye catching view. Increase in food industry tend to result in
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expansion and establishment of various restaurants which in turn has positive impact and aids to greater opportunity to food sellers
and manufacturers. The annual growth in the sales of the UK which mainly leads to £230 billion spending on food and drink in the
United Kingdom each year. With the growing rate in food industry, UK based manufacturers are pushing boundaries for food
production by effectively adapting to the diverse customer taste and preference.
To determine the current trends within UK which affects the profitability of restaurant.
Jogaratnam, (2017) critically investigated that, there has been increasing trend associated with the total factor productivity in
UK food industry. The GVA of the food industry has increased to 2.7 in year 2016, in 2017 GVA increased to 3.9%. Increase in the
total factor productivity tends to improve the competitiveness. Kraak and et.al., (2017) argued that Veganism is considered to be one
of the increasing trend which tends to show the growing popularity to eat meatless and dairy free products within the restaurant
industry. Use of advanced and digital technology is trending which helps in enabling and managing competition within the restaurant
sector. Technology helps in reducing cost and increasing convenience and profitability for the business. Sustainability, trust and
transparency is an increasing trend which in turn largely influence the profitability business within the particular sector. Tripathi and
Dave, (2017) established the fact that, the increasing trend towards healthy eating and counting calories are considered to be an
effective measure which in turn influence restaurant to move towards producing food which are healthy and are low in calorie.
Customers tend to focus on experiencing customer satisfaction which in turn leads to higher sustainable growth. The gap between the
quality offered to the customers and the expectations of the customers tend to play a key role which largely influence the restaurant
industry. The restaurant sector must tend to focus on hiring experienced employees who can deliver effective customer experience
which in turn leads to higher customer experience. There are various key trend which in turn affects the profitability of the restaurant
is mainly associated with the weakening of sterling in order to increase the cost of the food which is sourced abroad. Increase in the
rates of the revaluation of the business in Wales and England which in turn increases the cost of the property in cities like London.
Another major trend is that, increase in the labour cost in turn largely affects the business operations.
To critically evaluate the current needs, expectations and preference of customers within hospitality industry.
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Nguyen and et.al., (2018) critically investigated that, the customer trends tend to change with time which is considered to be one
of the major factor which in turn influences the operations of the hospitality industry. The change in the preference of the customers to
visit restaurants with high interior and luxury layout largely influence the restaurant industry in UK at a large scale. Boella, (2017)
argued that, Competitors who are offering wide range of quality products and services to the customers in turn largely influence the
working of the hospitality industry within UK. This in turn hampers the performance and profitability of the business. This gap in the
changing customer needs and expectation, influence entrepreneurs of the hospitality industry to come up with the innovative idea by
effectively introducing attractive ambience, quality and delicious dish, improved hospitality services, etc. in order to engage and
attract customers from all over the world. Technologies are changing at a greater scale where they tend to choose the restaurants which
have been suggested by the friends and family members and also by the online rating of the restaurant. This in turn largely influence
the preference of the customers while choosing particular restaurant. There is an increasing customer demand for home delivery of
food by making orders through online mobile application and personal website of the particular restaurant brand. Jang, Zheng and
Bosselman, (2017) sought to analyse the fact that, Customers tend to prefer clean environment where they tend to have positive,
soothing and ravishing experience. Customers tend to prefer that, they must be treated with mutual respect and timely services in order
to deliver effective services to the customers. This helps in attracting large number of customers from across the globe which in turn
leads to higher professional growth and sustainability of the business. Enhancing the customer experience in turn helps in setting
accurate picture in the minds of the customers from across the globe. Customer expectation within the restaurant industry helps in
delivering perceived value to the customers in order to seek benefits while availing goods and services from the specific restaurant. In
order to improve the customer expectation and bridge the gap, the restaurant industry tends to focus on upgrading the loyalty program
by giving customers effective customer discount. Boosting up and prioritizing guest security and safety helps in mitigating the needs
and expectations of the customers within the hospitality industry.
To analyse the challenges faced by waterfall restaurant in planning stage of business development plan.
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Tripathi and Dave, (2017) said that, Restaurant business can seem to be a very easy market to break in, however things can take a turn
when opening a waterfall restaurant. Many unseen challenges come in the way which require unique strategies to solve. Dealing with
the changing market trend and mitigating the needs of the customers are considered to be one of the key measure which are considered
to be one of the major challenge faced by the restaurant business in the UK. Kraak and et.al., (2017) argued that, Capital investment
can also become a problem as a waterfall as to created artificially which costs huge capital and if it is constructed on a natural
waterfall then a permit may be required from the government to operate which takes a huge toll on earnings and can hinder long term
financial goals.
The ambience of a restaurant is a key aspect which is deciding factor for a customer. Some people may like the sound of a waterfall
but some may hate it as the sound of water can be too much distracting for some customers . The water may also attract insects like
mosquitoes ,moths and other water breeding insects. Pest control can become very tricky and the reputation of the restaurant can
decrease dramatically if any customer gets an insect in the food . It can potentially affect the entire business and customer trust
forever.
Jang, Zheng and Bosselman, (2017), critically investigated that, All the restaurants nowadays efficient air ventilation systems
that purify air and put fragrance in the air. It is very difficult to achieve with a waterfall restaurant as water can have a pungent smell
and if water is not replaced or replenished timely then it will have a foul smell that is a deal breaker and in the cut throat competition
in the restaurant business this means shut down . Its architectural layout is also problematic as the ground near a natural waterfall will
contain big hard rocks that are risky and difficult to get rid of . The land itself is muddy and unfit for high building constructions.
Therefore structures have to be built with high quality material that is generally more expensive and harder to maintain. Also
structures have to built with furniture that is waterproof and does not rust. If materials are not rust resistant then they will corrode over
time and will cause loss of property which is not a problem in traditional restaurants. Another major challenge is associated with the
rivalry competitors which in turn largely influence the operations and setting up of the waterfall restaurant business.
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RESEARCH METHODOLOGY
It refers to the methods and techniques which is used in respect of selecting, identifying, processing and then analysing the facts
and information about the selected topic (Boyd and et.al., 2019). Thus, it carries the following methods such as:
Research types: In these methods, it mainly carries two types of methods such as qualitative methods and quantitative methods.
Thus, to present the research in right manner, researcher had applied the Qualitative data in which they carry the research on the bases
of raising question of the selected topic. Thus, in the present case relating to business development plan, the questionnaire procedure is
used in respect of raising question from the customer regarding availing the information about the concept of waterfall restaurant.
Research approach: These methods is mainly undertaken in respect of carrying the planning and procedure regarding gathering
the information from various sources. Thus, it carries two approaches such as inductive and deductive approach and researcher in this
case applied the inductive approach which is the combination of the Qualitative methods (Bresler and Stake, 2017). In respect of
conducting the business development plan, the inductive methods is used in respect of gathering information from secondary sources
so that they gathered more relevant information from other sources.
Research philosophies: It refers to the ideas, thoughts and expression which is used by researcher in respect of examining the
data in right manner (Smith, 2015). Thus, it carries two methods such as positivism and interpretivism. Thus, to gather the relevant
information and data, researcher had chosen the interpretivism method to interpret the data which is collected from various sources. In
this research, the data is collected from secondary sources and thus it is easy to interpret the data from such sources to gather relevant
informations.
Data collection: Data collection refers to process of gathering or verifying the data which is selected from various sources or
methods (Data Collection Method, 2018). Thus, it carries two types of methods such as primary methods and secondary methods. In
this researcher had applied the secondary methods in which they gather the data and information from authors, books and journals
through which they can compare the information and used it in their own research. In this, the business development plan the themes
which are used are collected from the social media sites or article of the authors which presented their views regarding the particular
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point. The data which are collected from the secondary sources is relating to the strategies of the London market restaurant which they
are applying to attract the customer. Thus, applying the similar strategies to compare the information which they collected and then
present them in better way.
Reliability and validity: In respect of conducting this research, reliability is maintained in respect of collecting the data after the
year 2010. This indicates that the data which is collected from such sources resulting in getting more reliable results and also it is not
amended or Mold in any of the stages (Silverman, 2016). Through this manner the chances of conducting this research is more valid
and the results are interpreted in right manner.
FINDINGS
BUSINESS ENVIRONMENT ANALYSIS
Pestle analysis
This is referred to as an effective framework which in turn helps in effectively monitoring the various macro- environmental
factors in order to improve the performance and productivity of the business. This is considered to be very useful in critically
evaluating the various environmental factors which in turn largely affects the business operations. Political factor: Waterfall Luxury Fine Dine restaurant is largely affected by the various government rules and regulations. It
is largely affected by the various tax reforms, law associated with the health and safety, inflation, labour laws and regulations,
grants and initiatives etc (Kasemsap, 2018). Therefore, Bayswater need to take care of all the government regulations and
accordingly has to take appropriate decisions in minimizing an impact of these regulations. Economic factor: It relates to inflation, currency exchange rates, disposable income etc. which greatly affects the smooth
functioning of the business. In case if an inflation rate rises within an economy where Bayswater operating its business will
highly affecting prices of an ingredients. This leads to an increase in the menu prices and people will avoid for ordering a food
from the restaurant or will less prefer to go for a shopping. Disposable income of the people is an another major economic
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factor that affects the restaurant business as if the income of the consumer is high then they will more hang out with their
family for a lunch or dinner. However, if disposable income is low then their purchasing power will be reduced. Social factor: There are various social factors which affects the restaurant business with both the aspects that is positive and
negative. Social factor might affect the restaurant menu in today' world people prefer organic and quality food rather than junk
food. The other factor is busy lifestyle due to the late hours work in an office, such people always seems to be busy in their
routine life and do not have time for the proper food, sleep and the workout. They would prefer fast food, coffee and the
carbonated drink in the routine. Technological factor: It reflects the technological advancements and the change that has a great impact on the restaurant
business. Bayswater need to focus on using latest technology such as Wi-Fi facility, automation in the food preparation
process, employing equipment’s etc. This helps in quick serving of the food to consumer so that they do not to wait for the
long hours and faster service leads to larger consumers (Carter, 2018). The waterfall restaurant will also be using a manual
registers in order to take care of the restaurant accounts and the other operations. There are various accounting software which
could be used by Bayswater like Toast POS and the QuickBooks online with many of the processes and the options. If such
software are been used properly, it could increase flow of profitability and the sales for the company. Environmental factor: It is very important to consider external as well as the internal environmental factors as such factors
highly influences the working of the business operations. Restaurant should place for some indoor plants and needs to take care
of the cleanliness on the regular basis whereas external surrounding must be clean and should be hassle free so that the
customers could reach to its place. In order to cope up with the environmental effects, it must use the recycled material and in
executing proper policy relating to waste management by donating leftover food to the needy and the charity people. Each and
every environmental factor tends to be crucial for the business expansion and the loyal customer base.
 Legal factor: It includes the legal laws and the legislation that required to comply by the restaurant business such as Health
and safety laws, Standard Food Act etc. These legislations are been framed by the regulatory authorities who visit different
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areas of a restaurant such as store and the kitchen in checking the quality of the food items, its expiry and the other type of
hygiene conditions.
SWOT analysis
Internal audit of restaurant will aid in reviewing present strength, opportunities and threats to waterfall restaurant. The audit is as
follows:
Strength
The concept of waterfall luxury restaurant with Multi Cuisine is
unique and therefore owns the strength of attracting wide and
diverse range of consumers.
The concept of restaurant allows appeal to diverse customer
segments and therefore have potential to grow.
Focus on quality and maintenance of authenticity standards will
be major strength to Waterfall luxury restaurant as it will govern
value of services and consumers spending.
Weakness
The business concept is news and requires huge investment in
order to meet requirement of planned services in restaurant.
The restaurant business and is new and therefore major weakness
can coordination in employees work with rest to quality standards
and guest expectations (Ward, 2016).
The concept of waterfall restaurant is determined and innovative
in itself and lacks market research and therefore lacks information
on needs and expectation of guest.
Opportunities
Consumer acceptance can be an opportunity for waterfall luxury
restaurant because loyal customer base in London will be a
success factor for growth in new areas of London and other
regions.
Offering Multi cuisines can be opportunity because in this the
restaurant will have advantage to add unique and customized
dishes in menu to meet consumer needs and gain customer base
Threat
Competition from existing restaurant business is a major threat
which can restrict growth of luxury fine dine. The exiting
restaurant owns strong control over customer base and food is the
most sensitive business (Brace, 2018). Therefore, changing
customer preferences and gaining acceptance is a major threat
when entering into new market.
Imitation is another threat which can ruin the unique business
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in market (Youn, Hua and Lee, 2015).
The restaurant business has opportunity to grow in start-up
business with the new concept because of its capabilities that is
rarity and low risk of imitation.
concept of waterfall restaurant and can be copied by exiting
leading restaurant with minimum cost investment.
MARKETING STRATEGIES
Focus for market segment
In accordance market research for food restaurant business in London, it can be said that focus of Waterfall Luxury Fine Dine
will be customers of competitors because in food services consumers seeks of uniqueness in food type and cuisine which is the
strength of restaurant and therefore competition will be the major focus of restaurant (Brace, 2018).
Core Business segments
Priority 1: The first segment for Waterfall luxury restaurant will be local families and young group university students.
Priority 2: Dinner for families and Early morning breakfast for students
Priority 3: Take away for students and business people at the time of lunch
Priority 4: Customised food services on the basis of cuisines
Market timing
The launch of Waterfall luxury restaurant is favourable to attain defined business objectives
Market penetration
Year 1 Year 2 Year 3
To launch Waterfall luxury restaurant in London
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To attain growth in revenue by 40% continuous
year by year
To grab loyal customer base of at least 5000
local guests of London
Market development
Year 1 Year 2 Year 3
To expand market in London by opening 1 more
Water fall luxury restaurant in London
To build brand reputation by meeting consumer
expectations
Marketing mix
Marketing mix is referred to as the set of directions which in turn is referred to as set of tactics and actions which a company
adopts in order to promote its products and services and brand in the target market (Kraak and et.al., 2017). It helps in putting the right
product at the right time and at the right price.
Product: Waterfall Luxury Fine Dine tends top offer wide range of products and services with wide varieties of cuisines,
drinks. They also focus on offering warm and effective hospitality services which helps in giving proper customer experience to the
customers of Waterfall Luxury Fine Dine. It offers large varieties of cuisines such as Mexicans, Italian, British cuisine, English
cuisine, Welsh cuisine, Moroccan cuisine, Scottish cuisine, Northern Irish cuisine, sundae, mock tails, shakes, cocktails, etc.
Price: Waterfall Luxury Fine Dine will offer products and services at a competitive price in the market. They tend to focus on
providing effective products and services where they offer wide range of products at services at a very competitive price. The price of
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the products ranges from $10 to $80 for wide range of products and services offered by the Waterfall Luxury Fine Dine. This
restaurant tends to follow psychological pricing strategy and bundle pricing strategy. This helps in offering goods and services which
is affordable by the customers. This results in higher sales and profitability for the Waterfall Luxury Fine Dine restaurant.
Place: Waterfall Luxury Fine Dine restaurant will be located near 32 Bryanston Street, Marble Arch, London W1H 7EG,
England. This helps in catering attention of people from across the globe by locating the business in a approachable and convenient
place. They also tend to offer goods and services through online mode. This in turn helps in delivering goods and services at the
doorstep of the customers.
Promotion: Waterfall Luxury Fine Dine will promote the products at a very competitive price. They promote their product and
services with the help of social media marketing, advertising, public relations, advertisement, digital marketing, sales promotion, word
of mouth, direct marketing, etc. this in turn helps in making people aware about the products and services offered by the Waterfall
Luxury Fine Dine across the globe (Jang, Zheng and Bosselman, 2017). Waterfall Luxury Fine Dine restaurant also develop a personal
website where they can effectively reach large number of customers from across the globe. The restaurant also advertise on several
newspaper, radio channels, hoardings, boards, pamphlets, etc. in order to cater attraction of large number of customers from across the
globe. Word of mouth helps from friends and family members is an effective promotional tool which helps in effectively carrying
several business operations.
People: Waterfall Luxury Fine Dine consists of various people which mainly involves customers, management, employees,
business owner, etc. It also tends to have qualified and professional chefs and staff members where they can effectively serve their
customers and provide better customer experience and satisfaction. Waterfall Luxury Fine Dine tends to attract customers of all age
group in order to provide luxury dining experience near waterfall. It will focus on targeting people of various age groups by setting
menu by considering the needs and preference of all demographics within the sector.
Process: Waterfall Luxury Fine Dine tends to focus on providing effective customer experience at the place where the business
is located and also by delivering products and services through online delivery mode. This is considered to be as an effective process
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which in turn which helps in reaching the end customers. Waterfall Luxury Fine Dine restaurant also tends to focus on providing
highly qualified chefs and professional staff in order to deliver quality food services and also helps in effectively treating its
customers.
Physical Evidence: Waterfall Luxury Fine Dine restaurant tends to focus on delivering products to the customers where they
tend to focus on delivering effective customer services (Nguyen and et.al., 2018). They focus on developing a very positive
environment where they provide positive and comfortable environment to the customers. They offer high quality products and services
where they intend to focus on delivering effective customer service. Waterfall Luxury Fine Dine restaurant tends to focus on creating
a ravishing experience where the customers will get ravishing ambience with high quality layout and design. This in turn helps in
creating amazing experience for the customers which in turn leads to higher growth and helps in attracting large number of customers
from across the globe.
Segmentation, targeting and positioning (STP approach) Segmentation: They are referred to as the group of consumers which are based on demographics, location or any other
measure. Waterfall Luxury Fine Dine restaurant tends to attract large number of customers of all age groups in order to
provide effective consumer experience (Tripathi and Dave, 2017).
Geographic: This is an effective strategy used which helps in serving customers in the particular market area to the targeted
audience. Waterfall Luxury Fine Dine restaurant tends to target customers of the UK based customers who have same culture, values
and beliefs. This in turn leads to higher sustainability growth and efficiency of the business (Lee, and Barker, 2017). It targets large
group of potential customers from all over the country, region, state or city. This helps in gaining higher customer base which results
in high profitability.
Demographic: This helps in targeting the customers within several markets which helps in attaining organizational targets.
Waterfall Luxury Fine Dine restaurant tends to target men, women and children of all age groups, family size, education, occupation
and income level. This in turn leads to higher operational performance and profitability for the business.
17

Psycho-graphic: Waterfall Luxury Fine Dine restaurant tends to target customers who have high degree of interest to explore new
places and try effective cuisines which in turn leads to higher sustainability growth. It is an effective way to target people with
different opinions, interest, attitude, lifestyles, etc.
Behavioural: Waterfall Luxury Fine Dine restaurant tends to effectively create an effective attitude towards a particular brand.
This in turn helps in influencing the decision making power of an individual towards a particular brand.
 Targeting: This is referred to as an effective process which is very useful in determining the attractive segment which are
considered to be the most profitable for the business. Waterfall Luxury Fine Dine restaurant tends to offer effective customer
experience where they focus on providing wide variety of cuisines to all the age groups. It tends to target customers of UK
where they focus on proving ravishing experience to the customers of all age groups (Jang, Zheng and Bosselman, 2017). This
in turn results in higher operational growth, profit and sustainability for Waterfall Luxury Fine Dine restaurant. It helps in
selling products and services to the specific segment, I.e., all demographics of the UK in order to attain attraction of large
number of customers which leads to increased sales and profitability.
 Positioning: It helps in effectively positioning the products and services to the particular target market. This in turn helps in
creating value for the offering. It has positioned the restaurant by offering high quality products and services with the relishing
experience of a waterfall (Bonn, Cho and Um, 2018). It helps in attracting large number of target customers where they tend to
effectively carry out the business operations. Waterfall Luxury Fine Dine restaurant will position the brand of the restaurant by
effectively evaluating the various range of the products offered by the restaurant. This in turn leads to higher sustainable
growth and efficiency. Waterfall Luxury Fine Dine restaurant will hire professional chefs and quality employees which helps
in delivering the best quality services to the customers.
Competitor analysis
Basis of difference Bays Waterfall restaurant Amrutha Lounge Sushi Tetsu
Product This restaurant will be offering However, it is the restaurant On the other hand, this
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all types of cuisine by following
different cultures across the
world (Yang, 2018). It also
provide for range of flavours
with different variety.
that serves only for an Asian
dishes and not counted as the
multi-cuisine restaurant.
restaurant offers mainly
Japanese food and less focus is
on providing various cuisine to
the visitors.
Place It will be facilitating its services
in the London at location of
Bayswater. It has also planned
for opening large number of
outlets within the UK.
Its outlet is present in London
and had not planned for
expanding its business into
other countries of United
Kingdom.
This restaurant brings for a
relaxed experience to the guests
in the hidden alleyways of the
clerk-well present in London.
Price This restaurant will be adopting
penetration and premium
pricing strategy that helps in
attracting larger customers as
affordable prices will be set for
the customers.
It makes use of skimming
pricing strategy which means
that only targets high class
people who are ready to pay
higher prices for the
experiencing a dinner (Baena,
2016).
It opts for differential pricing
strategy where different prices
are charged to different
customers as per the dishes
ordered by them.
Promotion It makes huge investment in
advertising on hoardings and
templates for promoting its
restaurant (Sillani and
Amrutha Lounge also uses
advertising tool as the
promotional method by way of
social media marketing,
Sushi Tetsu advertises by using
different restaurant apps like
Dine out at which it provides
offers to the visitors such as
19

Nassivera, 2015). It also make
use of sales promotional tools
by offering the discount offers,
happy hours, free coupon and
party offers. Using such
promotional tools, restaurant
could attract large number of
guests for visiting the
restaurant.
templates and the hoardings. It
also makes use of other
promotional strategies such as
publicity through campaigns
etc.
discount coupon on specific
meals and also makes online
delivery through the use of food
app.
Risk assessment
Risk management is counted as the pre-requisite as it involves an ability of the business in predicting, identifying the risk and
developing the strategies accordingly for effectively counter such risks which threaten a success or the survival of the business. The
plan for risk assessment is considered as an integral part of any of the start-up business plan.
Types of risks Likelihood of occurrence Ways to mitigate
Strategic risk It reflects the risk that is been associated
with the particular or specific strategy.
There are high chances of occurring this
risk in the future as an environment is
dynamic and due to this strategies get
failed.
By defining the objectives and the business
strategy and establishing the key indicators
in measuring the results, strategic risk
could be managed.
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Financial risk It relates to the several kinds of the risks
that is attached with the financing, with
inclusion of the financial transactions that
involves entity loan in default risk (Polat
and Akgün, 2015). This risk seems to be
high for Bays waterfall restaurant in the
future as it could face lack of funds and
larger debts for making more and more
expansion.
Financial risk could be mitigated or cope
up by creating a solid plan to perform a test
regarding quality control and keeping a
proper records of the loans.
Compliance risk This risk is occurred at the time when the
regulations and laws breakdown. In most of
the cases, business might fully intended in
following the law but ended up by violating
the regulations because of errors and
oversights. This risk seems to have less
likelihood of occurring for restaurant
business in the near future.
By putting a system into the place and
defining the tolerance foe such risk through
incorporating appropriate regulations
within the business (Glende and et.al.,
2016). By taking such measure, Bays
waterfall could be able to minimise the
compliance risk.
Operational risk This type of risk tends to be medium as it is
associated to the prospects of the loss that
results from an inadequate or the failed
procedures, policies and the systems. Some
of the common examples of compliance
There are various steps that need to
followed by the restaurant for eliminating
operational risk includes segregation of the
task, reinforcing an organizational ethics,
hiring the right pool of talent and
21

risk are employee errors, fraud and
criminal activity and system failures
(Adamopoulos and Todri, 2015). It also
means that any of the event which disrupts
the processes of the business.
monitoring or reviewing at regular period
of interval.
Competitive risk This is the most crucial risk that is faced by
the business where its competitor or rivalry
will be gaining an advantage against the
firm. There is higher possibility of
occurring competitive risk in coming years
for Bays Waterfall as in this industry there
comprises a strong threat of a new entrant
and the level of competition is high.
Competitive risk could be mitigated by
determining and resolving the pain points
of the consumers (Zhang and Wang, 2019).
By developing a own niche for having the
more and more rooms for the businesses.
Economic risk It means that there is a possibility that the
conditions in an economy will be
increasing its costs and reduce the sales
(Rexhepi and et.al., 2018.). This kind of
risk sees as high because it is reflected as
the systematic risk which cannot be
controlled by the business.
Mainly this risk cannot be eliminated
because it is uncontrollable but by creating
effective strategies and policies, Bays
Waterfall can cope up with any kind of the
economic risk that occurs in the future and
can also match with an uncertainty.
22

MANAGEMENT
Bays waterfall restaurant will be having an experienced team members together who shares the knowledge within many or
several different fields of the business. The team involves operating manager, general manager and marketing managers in managing
the restaurant appropriately and are directed towards a common goal in providing a unique experience to the guests and developing
strategies to attain growing success in the future.
Operational plan
The personnel plan is been framed in good proportion towards the restaurant size and the projected or estimated revenues
(Kasemsap, 2018). The staff will be including the 12 full time employees and 6 part time workers who will be working for 740 hours
per week and will be generating average weekly payroll amounting to pound 4700 for first year in the business. An anticipated annual
payroll of the value equating to pound 220500 that reflects smaller proportion of the sales.
Personnel Number of personnel
Chef 3
Prep cooks or the dish washer 2
People for cleaning a restaurant 2
Front manager 2
Waiters 4
Bartender- full time 1
Bus boys-full time 2
Bus boys-part time 1
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Personnel plan Years
1 2 3
General manager 0 30000 30000
Front manager 15000 18000 18000
Captain 5500 5500 5500
Wait-person 3200 3200 3200
Bartender 9700 9700 9700
Bus-boy 7000 7000 7000
Head chef 30000 32000 32000
Chef 25000 28000 28000
Cook 16000 16000 16000
Dishwasher 8200 8200 8200
Cleaning 11200 11200 11200
Additional cook 0 8000 8000
Waiters 5000 5000 5000
Total people 13 15 20
Total payroll 135813 181815 181820
Key resources
There are different types of key resources which are needed for opening water fall restaurant in London. Those resources are
helpful for managing work and earn money by performing well. Those resources are as follows:
24

Human resource: Human resources required for managing work to run and operates restaurant. There are several categories of
personnel in the restaurants business like managers, cooks, servers, bus persons, dishwashers, hosts and bartenders. They all have their
responsibility for running business.
Equipments: For starting new water fall restaurant such as commercial refrigerators, grill, deep fryer, all the kitchen
equipments, cooking surface equipments, dinning room and its decorative items, selling and administrative equipments, cookware, set
of knives, appliances, miscellaneous tools and others which are hire important (Jogaratnam, 2017).
Finance: The finance is the most important think which is highly helped to start new business and run old business. For
starting new water fall restaurant in London is required a higher number of finance. This is helped to purchase all this equipment
which are more important for run business in effective manner.
Physical resources: They are also required a physical resource such as raw material, transportation, storage facilities and
machines. This help to preparing food item for customers in order to attract them.
Building: This is most important key resources which are highly required for sets new business in market. The need to find the
proper building to house their restaurant (Fréry, Lecocq and Warnier, 2015). This help to attract more customers.
Food services: The Food services are an integral part of any successful restaurant plan. Food services providers are delivered
food directly to restaurant, so selecting the best food service for company.
FINANCIAL ANALYSIS
Cost structure
The restaurant will adopt penetration and the premium pricing strategy where it sets the menu as per the dishes as like for
normal dishes reasonable prices are charged which are affordable to the guest and the consumers. For special dishes that involves
various flavours and different cuisine, premium prices are set for the high class people who has willingness for trying new dishes and
experiencing new types of dishes that contains a blend of multi cuisine flavours. The start up cost or expenses that has to be bear by
the restaurant business are as follows-
25

Start-up expenses Amount
Graphic logo 800
Permits 1000
Contingency 8000
Outdoor signs 2500
Building improvements 47000
Working capital 170000
Pre-opening expenses 12800
Total 242100
Start up assets
Artwork 600
Walk in AC 6000
Commercial Dishwasher 5000
Stainless steel freezers 4000
Cold station 1700
Blender 790
Ice maker with the storage bin 3500
Steel hood with an exhaust 10000
Door reach in the beverage cooler or the glass doors 3200
26

Sandwich prep 4500
Small wares relating to kitchen 1200
6 burner 3200
Shelving systems 400
Reach in coolers 7000
Work tables 1000
Hutch for table 700
Liquid form fire protection system 3000
Bowl sink 1200
Oval tables 18000
Wooden cafe chairs 4000
Track lighting 800
Napkins and table cloth 1100
Art or Decor 1800
Fireproof safe 400
POS systems and the cash registers 3500
Office PC 1100
Total 87690
Start-up capital
For opening a waterfall restaurant, owner incurs a cost of Pound 50000 to 70000. It will be considered as the start-up capital
that is been incurred for procuring resources and buying an equipment in order to run a business smoothly and effectively.
27

Gross and Operating Margins
Gross margin refers to the percentage gross profit cover of entire revenue amount. Gross profit for each projected year is expected
to be 70%. Cost of production of edible items and revenue are assumed to increase at constant rate each year. However, fixed
expenses are expecting to decline after first year and net profit percentage may increase from 12% to 40% at end of year 5. Thus, stiff
control on expenses will lead to increase in profit in the business.
Profit Potential and Duration
Business have a good profit potential but in first year loss is observed in the business. Loss duration will be of one year and it is
expected that thereafter good amount of profit will be earned in the business.
Fixed and variable cost
Like every business in restaurant business also fixed and variable expenses are incurred. In the prospective business also fixed
and variable expenses will be incurred. As part of fixed cost modular kitchen expense is covered in the projection. Order to
manufacture modular kitchen will be placed with the relevant supplier or company. In the variable expenses HR cost is included in the
projections. 5 waiters will be kept in the business premises and £7 will be hourly pay. Total working hours will be 8hrs. Hence, total
cost for day for each waiter will be £56. Overall, HR cost of day will be £280. Overall, cost of HR for the month will be £8400.
Administrative expense is another one that will be incurred in the business. Its amount is kept between £3000 to £4392 for five years.
Break even analysis
For break even, analysis few inputs are required which are calculated. In order to compute those inputs some facts are taken in to
account which are given below.
Table 1Cuisine cost
Cuisine Pound
Finland 35
Philippians 5
28

Italy 30
Mexico 6
Afghan 7
Asia 8
Australia 20
Table 2Number of customers for month
Januar
y
Februar
y
Marc
h
Apri
l
Ma
y
Jun
e
Jul
y
Augus
t
Septembe
r
Octobe
r
Novembe
r
Decembe
r
Number of customers on single day 3 3 3 3 4 4 4 4 4 5 5 5
Number of customers January February March April May June July August September October November December
Finland 90 94.5 99 104 109 115 121 127 133 140 147 154
Philippians 90 94.5 99 104 109 115 121 127 133 140 147 154
Italy 90 94.5 99 104 109 115 121 127 133 140 147 154
Mexico 90 94.5 99 104 109 115 121 127 133 140 147 154
Afghan 90 94.5 99 104 109 115 121 127 133 140 147 154
Asia 90 94.5 99 104 109 115 121 127 133 140 147 154
Australia 90 94.5 99 104 109 115 121 127 133 140 147 154
Total number of customers 630 662 695 729 766 804 844 886 931 977 1026 1078
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Table 3Revenue across months in first year for various cuisines
Revenue
Januar
y
Februar
y March April May June July
Augus
t
Septembe
r
Octobe
r
Novembe
r
Decembe
r
Finland 3150 3308 3473 3647 3829 4020 4221 4432 4654 4887 5131 5388
Philippians 450 473 496 521 547 574 603 633 665 698 733 770
Italy 2700 2835 2977 3126 3282 3446 3618 3799 3989 4189 4398 4618
Mexico 540 567 595 625 656 689 724 760 798 838 880 924
Afghan 630 662 695 729 766 804 844 886 931 977 1026 1078
Asia 720 756 794 833 875 919 965 1013 1064 1117 1173 1231
Australia 1800 1890 1985 2084 2188 2297 2412 2533 2659 2792 2932 3079
Total revenue 9990 10490 11013.98 11565 12143 12750.05 13388 14057 14759.78 15498 16272.66 17086.29
Table 4Projected P&L
Particulars Year 1 Year 2 Year 3 Year 4 Year 5
Revenue 159012 206716 268730 349350 454154
COGS 47704 62015 80619 104805 136246
Gross profit 111308 144701 188111 244545 317908
Expenses
Company related restaurant
expenses 100800 105840 111132 116688.6 122523.03
Fixed expenses 80000 10000 10000 10000 10000
Administrative expenses 3000 3300 3630 3993 4392.3
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Total expenses 183800 119140 124762 130681.6 136915.33
Net profit -72492 25561 63349 113863 180993
Table 5Break even analysis
Fixed cost 80000
Price per unit 15.9
Variable expenses 10.35123422
BEP 14529.84517
Time to break even
Firm will need one and half year to break even or to cover fixed cost incurred in the business in first business year. Fact indicate
that manager need to sold total 14529 units to cover fixed cost. In year 1 total 10027 units sold up to 12 months of the first year.
Hence, it can be assumed that in first year cost of fixed assets will be covered to great extent and in next year within 6 months entire
cost will be covered.
Time to positive cash flow
Table 6Time required to earn positive cash flow
Months of year Cash flow Fixed cost Residual
1 9990 80000 -70010
2 10490 80000 -59521
3 11014 80000 -48507
4 11565 80000 -36942
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5 12143 80000 -24799
6 12750 80000 -12049
7 13388 80000 1339
8 14057 80000 15396
9 14760 80000 30155
10 15498 80000 45653
11 16273 80000 61926
12 17086 80000 79012
Table given above is indicating that in the first year within six months cost will be covered. It is assumed that premises were
already owned by an individual and thus any capital expenditure is not made to acquire premises. As part of capital expenditure
investment is made on the modular kitchen and other equipment’s as well as development of waterfall whose cost is £80000.
Mentioned cost will be covered in six months. Thus, positive cash flow starts in the business from month of June. Low duration is
required to cover cost because from first month raw items will be purchased in small quantity. Thus, even less number of
customers created in first few months cost will remain in control. Consequently, major pressure is to cover modular kitchen and
equipment’s cost and waterfall cost in the business.
Venture and working capital needs
In order to meet investment needs contact will be established with the venture capital firms. Under this series of meetings will be
take place and VC firm will be persuade to make investment in the current innovative business idea. In order to meet working capital
needs short term loan can be taken from the banks or personal savings can also be used.
32

CONCLUSION & RECOMMENDATIONS
In respect of bringing the waterfall restaurant in London, there are various aspects which is to be undertaken such as:
 Undertaking the budgetary control tool, so that after occurring expenses in respect of bringing new equipment is restaurant, the
comparison is to be done in respect of actual and standards budgets. This helps in undertaking the right procedure regarding
managing the restaurant in better way. As it is necessary that budgets is to be maintained before dealing in any task, through
this manner it helps in managing the overall inventories in right manner.
 The another things which is to be adapted by the restaurant is relating to taking proper feedback from the customer regarding
the services or other facilities which is provided in the restaurant. As through this manner, it helps in improving the services
and other aspects in better perspective.
 Waterfall restaurant is the innovative concept and thus it attracts many customers towards the restaurants, thus is such case the
waiting facility is to be improved. This can be done through conducting the various attractive games or activity once the
customer placed the orders. So that, they not had to wait for the order or number to avail the services of the restaurant.
33

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