Entrepreneurship: A Case Study of Steakhouse Delight

Running head: ENTREPRENEURSHIP
Entrepreneurship
Name of the Student
Name of the University
Author Note

1ENTREPRENEURSHIP
Table of Contents
Introduction......................................................................................................................................3
Innovation........................................................................................................................................3
Customers and markets....................................................................................................................4
Customer Value Proposition............................................................................................................4
Customer Relationship.....................................................................................................................4
Channels..........................................................................................................................................5
Revenue Stream...............................................................................................................................5
Key Resources.................................................................................................................................6
Key Activities..................................................................................................................................6
Strategic partners.............................................................................................................................6
Financial analysis.............................................................................................................................7
Start-up summary.........................................................................................................................7
Profit and Loss Statement............................................................................................................7
Break-even point..........................................................................................................................8
Balance Sheet...............................................................................................................................9
Cash Flow Statement.................................................................................................................10
Longer term prospects...................................................................................................................11
Conclusion.....................................................................................................................................11
Reference List................................................................................................................................12

2ENTREPRENEURSHIP
Introduction
Steakhouse Delight is one of the most reputed fine dining restaurants that is located in
New South Wales Australia and the owner of the restaurant is Statham Family. Currently Nick
Statham is running the business being the representative of the family and is aiming to build a
huge reputation of the organization in all over Australia and also aiming to expand the business
in the market of New Zealand in near future. Nick Statham gained huge popularity in the market
of New South Wales as he introduced many new rules and regulations in the business
organization to enhance the service quality and the quality of the food and the beverages served
in the restaurant. He understood the fact that being a hospitality business organization, he should
stress on the quality of the service and the quality of the food products in order to sustain the
business in a market full of rivalries.
Innovation
In order to sustain the business in the market full of uncertainties due to rapidly changing
demands of the target customers and also due to fierce rivalry in the hospitality business, Nick
Statham decided to introduce the age old restaurant as a new molecular gastronomy pub in order
to retain the popularity of the organization in the tough times. Molecular gastronomy can be
looked at as a sub-discipline of food science that focuses on the chemical and the physical
transformations of the ingredients of the food while cooking. This sometimes enhances the
nutrition of the ingredients and majorly used to make the food more presentable along with
making it more artistic and technical.

3ENTREPRENEURSHIP
Customers and markets
Nick Statham before renovating the family business organization studied the market of
operation and decided that for achieving success the target customer base should be of the age
group of 20 to 45 as the type of services and the décor they will be providing to the customers is
best suited for that particular age group. Currently Nick is operating in the market of New South
Wales and wants to expand the business in the whole Australian market and in the market of
New Zealand.
Customer Value Proposition
In this context, the restaurant is going to put more emphasis on the quality of foods rather
than the price. As a result of that the food prices will be much higher but the company never
wants to compromise of its quality. In this regard, the restaurant is going to provide foods with
low fat so that it will be beneficial for reducing the high risk of obesity which becomes an
epidemic in Australia (Hayes et al. 2016). Moreover, there is an array of foods which are not
only delicious but also healthy and in good quality.
Customer Relationship
The target customers for the restaurants are mainly from 20 to 45 years of age. It means
the company encapsulates adult customers who are very conscious about their health. As a
matter of fact, the company is going to organize campaigns in the local community about the
detrimental impacts of obesity and other food oriented health problems. In course of taking these
measures it will be beneficial for the company to attract more customers. Besides this, the
company is willing to change its service procedure by conducting training for the employees. In