Business Development Report and Research Reflection

BUSINESS DEVELOPMENT
REPORT AND RESEARCH
REFLECTION

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Background.............................................................................................................................1
Rationale.................................................................................................................................1
Vision.....................................................................................................................................2
Mission...................................................................................................................................2
Aim and Objectives................................................................................................................2
Design and Structure of report...............................................................................................2
Relevant models and information sources used.....................................................................3
Actionable Assumptions.........................................................................................................3
Timescale................................................................................................................................4
BUSINESS CONCEPT...................................................................................................................4
The product/ Service...............................................................................................................4
Target market .......................................................................................................................19
Value added..........................................................................................................................20
Specific features...................................................................................................................20
Management.........................................................................................................................20
Window of opportunity........................................................................................................21
FEASIBILITY RESEARCH ........................................................................................................21
Feasibility research plan ......................................................................................................21
Research methodology.........................................................................................................22
Sample description...............................................................................................................22
Key areas of feasibility research...........................................................................................24
1. Product and service feasibility..........................................................................................25
Summary of research............................................................................................................37
Industrial feasibility..............................................................................................................37
Competitor analysis..............................................................................................................38
Organizational analysis........................................................................................................42
Financial analysis.................................................................................................................42
Ambition vs Ability..............................................................................................................43

BUSINESS MODEL.....................................................................................................................43
Core strategy.........................................................................................................................43
The business mission............................................................................................................47
Product and market scope.....................................................................................................48
Value proposition.................................................................................................................48
Customer segmentation........................................................................................................48
Channel.................................................................................................................................48
BUSINESS PLAN.........................................................................................................................51
Restaurants in Sliema (Malta)..............................................................................................51
Project planning and development stages.............................................................................52
Marketing plan......................................................................................................................57
Risk assessment....................................................................................................................69
Operating Process.................................................................................................................72
Financial Plan:...............................................................................................................................75
Set-up capital........................................................................................................................75
Projected profit and loss statement.......................................................................................76
Projected cash flow for 1st year...........................................................................................79
Critical success factors of success........................................................................................84
PART 2- RESEARCH REFLECTION REPORT.........................................................................86
REFERENCES..............................................................................................................................87

INTRODUCTION
Background
Conserving the natural resources are the prime target and requirement of the government of a nation. Along with this, it is beneficial with
respect to bring the effective environmental advantages among the society. The aim of Kaskata Rock Restaurant which has emphasised on
establishing the restaurant in Malta on the basis of developing a waterfall theme. Thus, this is totally a new and unique concept which will be
attractive among consumers in experiencing the meal under the nature. It will have influences of various European dishes with considering the
cost efficiency. Professionals have planned to appoint the most qualified, talents and skilled chefs which will have talent to prepare various
delicious European dishes (Jones and Navarro, 2018). Thus, quality and health concerns will be considered by the business to main bring
preparations based on organic products.
Therefore, this business proposal is for Sliema which is best known for main tourist attraction. Thus, this site of the city denotes as best food
and shopping hub which will be attractive and beneficiary for growth of business that will bring profitable gains (Petrie, Jones and Murrell,
2018).
Rationale
Planning and formulation of strategies for establishing a waterfall restaurant in Sliema will be a new concept on which Kaskata Rock
Restaurant has to make unique development for artificial waterfall. Thus, for bringing the memorable and unique experience of nature among the
consumers with the help of creating the restaurant theme. On the other side, as per considering the cost which will be implicated in the restaurant
business such as developing the accommodation facilities, recruitment of staff as well as effective marketing Campaign will require enough
funding (Zhang, Zhang and Wang, 2018). Thus, to meet such targets there will be planning based on proper market research, surveys as well as
formulation of strategies which will bring raise to the gains of business.
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Vision
Aiming for establishing restaurant in Malta on the basis of developing a waterfall theme and to attain break even in 2 months along with
increment in sales by 10% at each month.
Mission
 To provide unique and memorable experience of nature among customers with concept of restaurant.
 To fulfil need of customers with delightful customer services.
 To offer European dishes along with consideration of cost efficiency and organic food.
 To form clean, hygienic and convenient accommodations for its consumers.
Aim and Objectives
Aim: To establish new business start up to penetrate in restaurant industry in Malta.
Objectives:
 To attain break even in 2 months.
 To increase sales by 10% in every month.
 To gain competitive advantage by offering unique services in restaurant industry.
 To attain expertise in European dishes.
Design and Structure of report
This report is categorised in four various topics which are stated below:
 Describing concept of business: There is inclusion of concept of entire business, target market along with details of its unique features of
restaurant, facilities and services given through Kaskata Rock Restaurant.
 Feasibility research: It comprises five viable research with perspective of market, organizational resources, services, financial resources
and industry with particular theoretical framework along with its implied research techniques.
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 Business model development: The outcome of research would be mix to concept of business which would be derived as a specific
business model.
 Business plan: In this aspect, there is consideration of various stages of execution which should be followed for implementation of
business model.
Relevant models and information sources used
In this study, there will be implication of market and industry feasibility research with application of Porter's five forces. On the similar
basis, the other relevant information would be gathered with primary and secondary sources which are stated below:
Primary sources: It is an immediate and first hand accounts of topic by the people who had presence of direct link with it. In this study,
specific information would be gathered through questionnaire methods.
Secondary sources: It is a recording or document which is related or discusses information which is originally stated somewhere. In
simple words, it is material which has considered primary source and analysed, summarized, interpreted and rephrased it. In this study,
secondary information and data would be through online resources, book, articles and scholarly journals as well.
Actionable Assumptions
With reference to gain value of project of Kaskata Rock Restaurant, there are following assumptions which are formed such as:
The restaurant's revenue would vary as it will be highly dependent on seasonal fluctuation but not on basis of financial year ( Buncha and
et.al., 2017). Usually, this business is startup so it has tax exception as per central development of SME sector. The aim of business is to attain
break even in second month along with increment in sales by 10% in each month.
Timescale
The initial step is to perform market research and in-depth study related to restaurant industry in Malta along with primary market
research and risks carried in 3 days. In this aspect, every success and failure of restaurant should be considered along with reasons which will
help in gaining strength and overcome weakness and every legal issue. Further, location of restaurant must be extracted and arrangement of
funding should be started and then application of restaurant license should be processed (Beyer and Rice, Agis Software Development LLC,
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2018). Then there should be arrangement of availability of storage area where small wares, equipment’s and supplies etc. could be stored. In the
similar aspect, cooking equipment’s must be ordered and setup of utilities like gas, phone, electric etc. The ambience should be attractive and
outlets should be amended and decorated according to nature friendly. Henceforth, recruitment of staff, chef would be done in 2 weeks and then
training and induction for 4 weeks. Finally, Kaskata Rock Restaurant would be opened as waterfall restaurant.
BUSINESS CONCEPT
Kaskata Rock Restaurant would be waterfall restaurant by offering European dishes with organic raw material. This will be a unit
concept dine as one type of thematic artificial waterfall and gives natural and serene atmosphere for family outing or romantic dates (Yusuf and
et.al., 2017). There will be unearthed with the best organic and exotic flavours of Europe for treating taste buds. In addition to this, this
restaurant will also provide facilities of accommodation for special occasions without compromising food quality along with fresh out of stock
products for maintaining superior quality and tasteful. The Kaskata Rock Restaurant would be situated on Sliema which is best known for
attraction of tourist and local people as well and serves popular European dishes while (artificial) fresh water falls flows all over (Arya, Zeile and
Sudan, 2018). With context of concept of cost, it will be charging affordable cost to penetrate in this restaurant industry. The mix of service and
accommodation would be higher than money valued through its customers.
The product/ Service
The Kaskata Rock Restaurant offering lunch, breakfast and dinner menu as its unique USP with speciality of European dishes which are
stated below:
Menu of Kaskata Rock Restaurant:
Particulars Cost
Breakfast dishes
Continental breakfast € 3.35
Porridge € 0.75
Fried egg € 5.20
Lunch Dishes
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Seasonal mushroom risotto with truffle oil € 19.80
Root vegetable tating with candied nuts and blue cheese € 16.50
Balsamic lentil pies with vegetable mash € 12.45
Beverages
David Rio Masala Chai € 10.50
Dinner meals
Fried aubergine sticks with honey and sumac € 65.50
Spinach, feta and onion parcels € 85.60
Vegetarian sharing chilaquiles with feta and eggs € 45.00
Dessert
Apple pie, honeyed pecan gelato € 25.20
Salted caramel and hazelnut chocolate delice € 22.30
Breakfast menu
 Continental breakfast: It is named after various continental countries which is of light buffet of fruits, coffee, juice and pastry products.
In the same series, it has sliced bread, croissants, rolls and pastries offered alongside with jam, butter, cheeses, sliced meats and honey
with hot coffee and milk (Nasrallah and Lana, 2016).
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