Business Plan for New Venture

Business plan for new
venture

Contents
INTRODUCTION.........................................................................................................................3
Overview of Company:................................................................................................................3
Description of product and services.........................................................................................3
Marketing and sales strategies.....................................................................................................7
Operational plans.........................................................................................................................9
Financial projections..................................................................................................................10
Management and organisation:..................................................................................................10
Present financial and funding requirements..............................................................................12
Contingency plan.......................................................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Business plan is defined as the written document that contains all details about business, its start-
up process and goals and objectives of business that want to achieve. It is the lay out that guides
the business for various business operations such as marketing, financial as well as operational
standpoints. Basically, business plan is the essential statement of business that attracts
investment to established and expand business. There are various business element that start
from executive summary, information about product and service, report of market analysis,
organisational marketing strategies, financial planning and proper budget which are used to
established business within competitive market (Almeida and Santos, 2020).
Overview of Company:
In this report the chosen business is KETRA Cuisine Co., Ltd. which is a local food and drink
restaurant founded by owner Kevin Huggins. Ketra Cuisine Co., Ltd. will provide an
unprecedented dining experience as we strive to provide our customers with first-class customer
service, which will encourage them to return. Our staff are well trained with wealth of
experience and the food menu will be unique, healthy and easily put together. The main goal of
Ketra Cuisine Co., Ltd is to become the premier fast-food casual restaurant in every market it
enters, opening a new store every 12 months, and providing high-quality food and wonderful
experiences at reasonable prices. Its mission is to become the premier fast-casual dining
experience. This will be achieved by providing an unprecedented experience as well as delicious
food and reasonable prices. The vision and value of Ketra Cuisine Co., Ltd. is to be leading,
Nutrition and competitive health as well as wellness company in order to enhance more value to
stakeholders through preferred corporate citizen, preferred suppliers, employees and products as
well (Bajerová, 2019). Aim of respective organisation is to offer simple, delicious menu items
and services in order to fulfil the needs and demands of customers.
Description of product and services
Products Ketra Cuisine Co., Ltd. provides are meats, fruits, vegetables, rice, provision,
beans, desserts, cutlery, drinks, tables and cheers to their customers. All dishes are equipped with
signature pineapple slices for decoration and eating pleasure. All the meat will be marinated
overnight in sweet soy sauce and ginger juice.
Meat items such as Chicken, Beef, Pork and Lamb:

The reputation of our suppliers and brands is critical to the quality of the products they
provide. Using a leading brand of meat such as Westco Angus Beef, ensures our customers
that we are preparing and serving only the best quality beef products. We will also evaluate a
restaurant supplier that provides value-added products, such as breaded beef and marinated,
sliced and diced meat because our company wants a smooth ordering process, in that way
one supplier will carry all meat lines of their products.
Poultry:
Dairy products are another category we need to consider when looking for a supplier. We need a
supplier that offers a wide range of dairy products to meet our needs. Because we are a start-up
company we will go with a supplier whose cheese selection will satisfy each of our applications,
be it loaves or slices. If you need specialty cheeses, they should be able to supply both imported
and domestic products. As for agricultural products, we would have an excellent restaurant
supplier that will work with multiple growers and transporters, allowing us to get the freshest
products at a competitive price.
Dry Products:
This product group of dry goods is very wide and will comprise of canned, boxed packaged, and
bagged products, such as meat, poultry, vegetables, sauces, desserts, cereals, dairy products, etc.
As with other groups, bulk or wholesale packaging sizes are critical to cost-effectiveness.
Services Ketra Cuisine Co., Ltd. provides will show in our prestige dining experience in the
fast-casual niche of the restaurant industry. All customers will receive the attention of celebrities,
which will encourage them to come back. The menu provided is fast, simple, healthy and easy to
prepare. The organisation conducts proper market research before launching the restaurant,
collect data regarding the customers views, demands, preference and current market trends as
well. Data is collected from various primary as well as secondary sources to fulfil customer
needs appropriately. There are various marketing strategies are provided by the company to show
their new product and services in market. Social media marketing, internet marketing and
advertisement are the marketing platforms that are used by Ketra Cuisine Co., Ltd. to promote
their product and services existing and perspective customers in order to achieve the objective of
higher sales and brand recognition.
 Stew chicken, teriyaki or curry- $50.00
 Stew beef, teriyaki or curry- $60.00

 Stew vegetable, teriyaki or curry- $30.00
 Add rice, white or brown- $20.00
 Add vegetables- $20.00
 Green salad with soy ginger vinaigrette- $20.00
 Beverages include iced teas, hot teas, soft drinks, coffee, and bottled water
Assorted pre-prepared desserts
Market description:
Market analysis: Market analysis is defined as the process of identifying the volume as
well as value of market, effective segments of potential customers and their buying behaviour,
conditions of economic environment, level of competition within industry and evaluate the
regulatory powers of market (Berruto, Busato and Sopegno, 2017). As Ketra Cuisine Co., Ltd.
Is a new start-up company we will use various strategies to reach in different market such as
demographic, behavioural and geographic segmentation market strategies to evaluate the
changing needs of customers in the competitive industry.
Ketra Cuisine Co., Ltd. conducted the proper market research programme to gain the
depth-knowledge of the market that enables the organisation to develop a prime food product and
service according to customer requirement. So, organisation analyse the market in various steps
such as industry overview, identifying target market, analyse competitors and determine the
pricing of food products. Various phases of marketing analysis are defined below:
Industry overview: Ketra Cuisine Co., Ltd. identifies the industry properly in which the
organisation provides its existing menus and services. Organisation focus on various industry
matrix such as industry size, projected growth and current trends as well. In this research
company analyse the business process and strategies which are dealing in similar food products,
menus and services. It is quite different from the market research which enhance the knowledge
of organisation regarding their competitive organisations (Catteau, Leyronas and Loup, 2020). It
helps the business to analyse the future demand of existing menu styles and products in market
and competitive environment within industry.
Identify target market: Target market is the most important aspect of market analysis
process that helps our business to identify the potential customer in market. As the organisation
lunches the new restaurant within market so it divides the whole market into small segments and
identify the potential group of customers to provide them with prime food menu and service in
order to enhance brand image. There are various researches are done by the organisation to
identify the target customers those elements are discussed below:

 Market size: First of all, market size is identified by Ketra Cuisine Co., Ltd. for our food
menu in order to find out the potential customers who like to purchase and dine to taste
our delicious food products. Organisation separates the whole market into various
segments according to their similarity and preferences.
 Demographics: Ketra Cuisine Co., Ltd. analyses the customers on their demographic
factors such as age, gender, income, education and marital status in order to cook and
serve the food product according to their preference and demands.
 Geographic: In this market research the organisation evaluates the customers on the
bases of their locations to know from where they are belongs to such as their region, city
and state. It helps organisation to segregate customers properly.
 Psychographic: It is most important factor that facilitates the Ketra Cuisine Co., Ltd. to
analyse the needs, demands, personality and preferences of potential customers. The
analysis helps to know about customers buying pattern and behaviour as well.
Assessment of competition: assessment of market competition is the important factor of market
research. As Ketra Cuisine Co., Ltd. is dealing in competitive market environment, there are
various competitors such as Rising Star, More Vino, The Rig and Texas de Brazil which can
provide similar food products and menus within market (Climate-KIC and Woth, 2019). Better
understanding of competitors provides various competitive advantages. Through analysing
competition within industry organisation can differentiate themselves by offering different food
products in order to fill the gap and gain competitive advantages. Respective organisation
analyses the competition through assessing some specific areas that are described below:
 Direct competition: Direct competition is defined as the stage in companies are offering
similar food products and services to customers in market. It divides the market share and
affect the profitability of Ketra Cuisine Co., Ltd.
 Indirect competition: Indirect competition is defined as the alternative solution of
problem that the organisation wants to solve. In this market competition, organisation
invent brand new food products, menus and services that are not offered by any
competitor in market. These-organisation indirectly affect the organisation profitability
and sustainability in competitive market environment.
 Barrier to entry in market: Barriers are defined as the protection that restrict the new
companies to enter in market that enhance the competition within industry. There are