Business Plan for The Burger Factory: A Football-Themed Restaurant in Manchester
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This business plan outlines the goals and strategies for The Burger Factory, a football-themed restaurant in Manchester. It includes market analysis, competitor analysis, marketing and pricing strategies, and financial requirements.
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Table of Contents INTRODUCTION...........................................................................................................................1 Business detail.................................................................................................................................1 Macro Environmental overview......................................................................................................2 Market and Industry analysis..........................................................................................................2 Competitor analysis.......................................................................................................................3 MARKETING AND PRICING STRATEGY................................................................................4 OPERATION PLAN.......................................................................................................................5 SWOT ANALYSIS........................................................................................................................5 .........................................................................................................................................................5 Financial requirements.....................................................................................................................6 MONITORING AND EVALUATING........................................................................................13 CONCLUSION.............................................................................................................................13 REFERENCES.............................................................................................................................14
INTRODUCTION Business plan is a written document which contain the goals and objective of the business and methods for achieve in a specify time frame, in this plan every thing is analyse in the market according to the business idea. It depends on the nature of entity and industry in which the business lie. In simple terms, it provide the road map for the direction to achieve the business. This business plan is based on the restaurant which is based on the football theme. The name of the restaurant is “The Burger Factory” which is located at Manchester in the UK. In this restaurant various types of dishes are baked to attract the customer at low price. Business detail This business plan is based on the restaurant which is based on the football theme to attract the customers of all age from teenager to the adult both male and female because everyone loves football which is live streaming in the inner side of the restaurant on the projector (Buschand Lewandowski,2016). This is open all 7 days from morning 10 to late night 2'0 clock. The restaurant also fulfil the needs and requirements of the consumers by making new new and innovative dishes at cheap price to the individuals, because the chef in the restaurant are very experienced, they make all dishes delicious which satisfy them and make the client happy. Their main aim is to become popular among all restaurant through their service and also offer their service in such a unique way that satisfy every consumer easily and make them happy. In this there is also the new thing is used which is theme of the football on the wall there is the picture of the football players and pic of the ball in the sitting area, on which they take enjoy of the theme while eating dishes. There is the full on football game is running, teenager is also play the PlayStationgames in the projector , for this limited charges is incurred. There is also the parking facility is available so every one is park their vehicles with no security problem because there is watchman is there for the safety of the vehicles, in this both non veg and veg foods are delivered to the customer like non veg burger, veg burger, non veg pizza of different styles and chicken, meat and French fries and more dishes is provided in the menu to thee name of the restaurant aware among all peoples.
Macro Environmental overview In the business plan, for making decision and planning strategy for the restaurant according to environment condition of the country Manchester there is the use of PESTLE analysis(Chen, Ong and Hsu, 2016). Political factors-It refers to the factor related to the government of the country that influence the economy of the certain industry, this factor include tax policies, fiscal policy and trade tariffs. In the business of restaurant if government remain stable it is beneficial for the economy but if they impose new tax make difficult for the industry to run in future because their entire revenue might change from these. Economic factors-It means these factors affect the economy performance of the organization through the rise of the inflation rate and change in the demand and supply of the economy. There are various factor involved in this are interest rate, foreign exchange rates and foreign direct investment. In the business of restaurant it give effect on the purchasing power of the customer because by high rise in inflation they purchase less products and visit the restaurant very low. Social factor- It means business get impact by the social environment of the market like change in the trends and due to change in the population. In The burger factory, they have to change the taste of the dish according to the choice and also make innovative dishes according to the trends. Technological factors-It means innovation in the technology that give impact on the operation of the industry in favourable and unfavourable condition. In The burger factory, they also want to bring new technology for the dish making and also develop new software for the recording of the transaction and making bills at the reception. Legal factors- It means there are various laws are made based on the policies that affect the environment of the business. In the business of restaurant there are various consume laws and safety standard are made to control the effect of legal policies in the country. Market and Industry analysis In the market and industry analysis for the business plan there is the use of the segmentation, targeting and positioning in the minds of the customer(Laisasikorn and Rompho, 2019).
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Segmentation-It means divide the market into groups of customers, the main aim of these is to develop various customer segment based on the traits. In the restaurant, demographic segment is used for this because in this there is different area is made for kids, teenager and family for sitting. In kids area there is gaming area is there and for family there is LCD is there on which lice match is streaming and for teenager there is visual graphics is present for them to take enjoy of all thing(Li, Zhao, Sun and Yin, 2017). Targeting- it means the segment which is choose in segmenting and then determine the main segment which is help in creating the desired conversions. This targeting is based on the size of the segment, profitability of the lifetime values of the customer in each segment and reachability of the consumer to the location. In The burger factory, they target the youngster because they come everyday in the restaurant for enjoying the match of football with their friends group, they also make use of the visual graphics to see the match in the 3d, there is the extra charges is taken for this which provide benefit to them very easily in the match time. Positioning- After the targeting and segmentation,then the next step is positioning which mean is putting the product and services on the minds of the customers, this also help in making the product different from competitor. In the restaurant, owner solve the customer problems and provide genuine benefits and they make their brand name in the minds of the consumer by providing the offers , discounts on the meals for the new customer and is existing customer bring new customer then their favourite dish is free for them.(Nyeadi,Ibrahim and Sare, 2018). There are some dominant competitor are present Indian Tiffin Room Manchester,Mowgli Street food,Bundobust, but THE Burger factory is different from all because they provide cheap meals and dishes and also provide football theme which is like by everyone. This industry is growing because hospitality industry is such which never get decline because food is the essential part of everyone life and for enjoy and chillall peoples go to restaurant three times in a week. So it is growing business. Competitor analysis Competitor analysis is very important for any business because to know the strength and weakness of the competitor. For this there is the use of Porter's five force model. It is a model that is used to analyse the competitive forces for determine the corporate strategy. There are many stages are classified in this-
Competition in the industry- The first force refer to the ability of the competitor along with the number of the product they offer. In restaurant, they offer all dishes at low price and also maintain the quality of the product. In future if competitor fails, they can charge high price and result is earning of high profit(Otieno, 2016) Potential of new entrants into the industry- It means power of the firm is also effect by the new entrants, because if new firm is come with same business then it result is decline in profit. In THE BURGER FACTORY, there are many threats are come from this if the amount of capital is low for enter into market, if there is low customer loyalty with the restaurant and other firm also keep their price low, this effect the business in a long run. So they have to evaluate all things for this. Bargaining power of the suppliers- It means there is the requirement of the strong bargaining power of supplier to sell higher price with low quality material. This increase their profit and sales also when there is few suppliers and many buyers. In the restaurant, they also charge high price when there restaurant is going to famous then other but maintain the quality help in the long run and they follow the forward integration for this. Bargaining power of the buyers- It means buyers have power to demand low price and high quality products from the producers. In restaurant, there are many substitutes are presentit is harmful for the industry they have to keep their price very low to remain in the market because buyers are price sensitive(Przychodzen, Gómez-Bezares and Przychodzen, 2018). Threats of substitutes- This force is used when buyers find substitute goods with unique price and better quality. In restaurant, they keep their service price low so buyer can not switch from their place to other. MARKETING AND PRICING STRATEGY In the company, marketing and pricing strategy play a important role in the business because their product and service promote only through promotion tools which is used by every businessman for the expansion and growth of the industry. Pricing strategy means strategy for deciding the price of the product that is offer by them to customers. There are various types of strategy is followed by different industry. Promotion refers to the activities which are conducted for communicate the brand name to the end user, the idea for this to make clients attract, aware and induce them for buying. There
are various types of promotion is activities are there advertisement, schemes, discounts and social media etc. In the restaurant, they choose the social media platform for doing the advertisement of their restaurant, regularly updated their picture of their dishes and new pictures of their restaurant. So it is like by everyone and also do the advertisement by organising a DJ night on every Saturday with some couple or single charges in which include meal is included. Pricing strategy means method to choose the best price for the product or service by apply different method according to nature of the industry. In the industry of Restaurant, there is competitive pricing strategy is used because through this they can take best advantage of the product or service is respect to their competitor, they regulate their prices according to the market condition and set the price according to the price of their competitor not think of their cost and profit because they want to expand their business in future(Yang and Baasandorj, 2017). OPERATION PLAN Operation plan means detail oriented plan related to the business, in this daily activities are recorded which is require for running the business. In THE BURGER FACTORY all the food is make by chef but baked on different equipments because every dish require different equipment, it is located in the centre of the Manchester so anyone can order online on the restaurant website and get their product ready, the delivery man delivered their order in 30 minutes which is the business rule, if they are not able to deliver it is free for customer. The supplier of the raw material are wholesaler they take from the manufacturer(Zalaghi,Godini and Mansouri, 2019). SWOT ANALYSIS STRENGTH Provide high quality food . Attract customers with football theme Cooperative staff member. WEAKNESS All people do not like football theme. Pricing strategy of competitors. Brand image. OPPORTUNITIESTHREATS
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MONITORING AND EVALUATING From the above business plan it has been evaluated that all the activities are running according tom planned manner. If any gap is occur in future then various tools is used to remove this which are benchmarking and KPIs. Through this they can measure the performance of the organization easily and improve the taste of dishes according to the feedback.
CONCLUSION From the above business plan it has been concluded that, business plan is made for any new business which is going to establish in the country this is an expected plan for reaching to the customer. In this, there is full analyse of the target market and the competitor with the marketing strategy and pricing strategy used in the business. There is financial evaluation is also prepare for this. REFERENCES Books and journals Busch, T. and Lewandowski, S., 2016. Corporate carbon and financial performance: A meta- analysis. InAcademyof Management Proceedings(Vol.2016, No. 1, p. 11657). Briarcliff Manor, NY 10510: Academy of Management. Chen,P.H.,Ong,C.F.andHsu,S.C.,2016.Understandingtherelationshipsbetween environmentalmanagementpracticesandfinancialperformancesofmultinational construction firms.Journal of Cleaner Production.139.pp.750-760. Laisasikorn, K. and Rompho, N., 2019. A study of the relationship between a successful enterpriseriskmanagementsystem,aperformancemeasurementsystemandthe financial performance of Thai listed companies.American Journal of Business.10(2). Li,D.,Zhao,Y.,Sun,Y.andYin,D.,2017.Corporateenvironmentalperformance, environmentalinformationdisclosure,andfinancialperformance:Evidencefrom China.Human and Ecological Risk Assessment: An International Journal.23(2), pp.323- 339. Nyeadi, J. D., Ibrahim, M. and Sare, Y. A., 2018. Corporate social responsibility and financial performance nexus.Journal of Global Responsibility. Otieno, S., 2016.Relationship between risk management and financial performance: empirical evidence from microfinance banks in Kenya(Doctoral dissertation, School of Business and Economics). Przychodzen,W.,Gómez-Bezares,F.andPrzychodzen,J.,2018.Greeninformation technologies practices and financial performance–the empirical evidence from German publicly traded companies.Journal of Cleaner Production.201.pp.570-579. Yang, A. S. and Baasandorj, S., 2017. Exploring CSR and financial performance of full-service and low-cost air carriers.Finance Research Letters.23.pp.291-299. Zalaghi, H., Godini, M. and Mansouri, K., 2019. The moderating role of firms characteristics on therelationshipbetweenworkingcapitalmanagementandfinancial performance.Advances in Mathematical Finance and Applications.4(1), pp.71-88.