Entrepreneurship Development: Business Plans for Studio24*7

This article discusses the business plans for Studio24*7, a new medium-sized restaurant in London that focuses on organic and ethnic food. It covers the business objectives, marketing plan, operational plan, technical solution and IT plan, human resources and organization plan, and possible future development.

Entrepreneurship Development

Contents
INTRODUCTION (200).................................................................................................................3
Business objective...........................................................................................................................3
Detailed development plan..............................................................................................................6
Marketing plan.............................................................................................................................6
Operational palm.........................................................................................................................6
Technical solution and information technology plan..................................................................7
Human resources and organization plan......................................................................................8
Possible future development............................................................................................................8
Summary..........................................................................................................................................9
REFERENCES..............................................................................................................................16

INTRODUCTION
This is the business plans for the studio24*7, new medium sized restaurants which will be
trending the main street of London paying more level of emphasis on the organic and ethnic
food. There will be major level of emphasis on dedication to sustainable developments procuring
the food form the locals body reducing the dependence on the fossil fuels use for the respective
transformation. The business will have the usage of the ethnic recipes to have the providence to
the customer with diverse and unusual menus. There will be emphasising of the dishes by
recognizing the trends within the restaurant for the demand of the healthy cuisines.
Business objective
 To stay as the small restaurant with excellent food and services.
 To keep their food cost under 35% revenue between 24-29% of revenue.
 For keeping the employee labour cost.
 To have the average sales of the between $1,000,00-1,500,00 per year.
 To have the expansion of marketing and advertising in the street of London.
 To have the achievement of 12% return on investment to investors for the first two years
and 15% for the next three years.
Customer value proposition canvas
The value proposition canvas is an extension of the business model canvas with a focus
on customer profile and value map. It requires you to observe what the customer actually wants
and then design a value proposition which will sell. The Value Proposition Canvas is about
finding out why the customer needs a supplier, what the customer can perceive as an extra value
and what the customer finds annoying or disadvantageous.
This have been statement of the restaurant as the statement in which is the offering there
of the restaurants to the respective customer which is not advisable to the other dinning
establishment in their particular areas. This have been considered as the essential aspects of the
any business speciality the truth which will be helpful; om the complete level of attraction their
patrons over the other business restaurants in the perfect manner.
The value proposition of the restaurant is having the organic food made up in the pattern
of he ethnic pattered as the offering the target markets for the new level of offering to the
customer who are considered to the diet conscious and nutrients conscious. This is the major
level of category which is falling the young generations or the lonely rich, young happy
3

customers, the rich hippies which have autarky desire of the organic foods as well as ethnic
cuisines and healthy offering dieting women. Cuisine differs across India's diverse regions as a
result of variation in local culture, geographical location (proximity to sea, desert, or mountains),
and economics. It also varies seasonally, depending on which fruits and vegetables are ripe.
The firm have the special level of speciality regarding the development of different
products which certainly made up of there pure organic milk without having any level of
malnutrition in significant manner. As there to have the basic level of value proposition as there
all the product are turned out the purely organics without having any level of pesticides and
the added growth hormones used in it.
The restaurant is more level of uniqueness in terms of serving the foods with adding of
the original flavours which have the coming up from the true region in the key significant
manner. the restaurant is promotion with the tagging of “simply authentic organic food in ethnic
taste.”
The firm is aiming the customer to have the believe in to have the delivering what they
are actually expecting. There will be major level of emphasis on dedication to sustainable
developments procuring the food form the locals body reducing the dependence on the fossil
fuels use for the respective transformation. The business will have the usage of the ethnic recipes
to have the providence to the customer with diverse and unusual menus. There will be more
focus on their strength and weakness of the establishment in to have the proper level of
combinations instead of the looking a the compositor location. By providing all information like
timing, features, place and all about products on social media platform it can promote its new
food By making an effective use of communication skill and providing discount, gift vouchers
and other benefits, it can increase its sales and attract customers to the great extent.
Lean business model canvas
The model has there promising the action and the entrepreneur focused business plans which
have the proper level of attention on the proving the solution to the different problems, the key
metric which is necessary of the business along with gaining more level of competitive
advantage in the significant manner. Business Model Canvas is a strategic management and lean
startup template for developing new or documenting existing business models. It is a visual chart
with elements describing a firm's or product's value proposition, infrastructure, customers, and
finances. It assists firms in aligning their activities by illustrating potential trade-offs.
4

So, to have the understanding the important faction of the business canvas model are such as
The customer segments
 The customer segment in the first group that is lonely rich 400,000 people. Along with
young happy customers growing at an annual rate of 8% with 150,000 potential
customers. In addition, there will be rich hippies which have autarky desire of the
organic foods as well as ethnic cuisines. The healthy offering dieting women which
number 350,000 in London area.
Channels
For promoting new organic food and making people aware about its features it will make use of
social media platforms and brochures. By providing all information like timing, features, place
and all about products on social media platform it can promote its new food.
Customer relationships
Use of video tutorials and effective use of communication skill and providing discount, gift
vouchers and other benefits, it can increase its sales and attract customers to the great extent.
Revenue stream
Sales and return of investment which have been kept as target to have the achievement of 12%
return on investment to investors for the first two years and 15% for the next three years.
Key resources
The resources will be considering of the tangibility and intangible. The tangible will be such as
the physicals and human capital consisting of the employee and the other investor and asset of
restaurant. On the other hand. in tangibility is about the intellectual’s property and good will.
Key activities
 Food process
 Serving food
 Inventory
 Home delivery aspect
key partnership
The partners of the business will see such as the supplier, logistics partners tights are local
vender of organic food and resources by acquiring the partner.
Cost structure
5

The company have the expectation of the raising about to raise e $40,000 of our own capital and
to have the borrowing of the $10000 to be guarantee as the 10 years loan.
Detailed development plan
Marketing plan
Marketing plan refers a report which consists of strategy by which company can promote its
services and products (Wood and Jobber, 2016). For restaurant it is important to attract target
market as it is going to offer organic food and make them feel valued. With the help of 4P's it
can give detail of its service to target people such as:
Product: Indian food with having all nutritional values is the new product which. Wants to offer.
Price: restaurant will use price skimming as in this strategy companies offer its products at
higher by delivering the quality of food for the quality of customer.
Place: Online food delivery to target people along with providing food at physical restaurants can
help it out to increase sale. According to convenience of customers it will offer product.
Promotion: For promoting new organic food and making people aware about its features it will
make use of social media platforms and brochures. By providing all information like timing,
features, place and all about products on social media platform it can promote its new food
(Išoraitė, 2016).
Rather, marketing mix will make an effective use of video tutorials as it is one of the
effective marketing strategy as the better company make its the more value it can provide to
customers as well as can boost visibility. By making an effective use of communication skill and
providing discount, gift vouchers and other benefits, it can increase its sales and attract
customers to the great extent.
Operational palm
It is a highly detailed plan which allows companies in making them know that how all function
will be done and which department, who will be responsible for each task. For making this
plan successful and performing all activities in an effective manner, restaurant will allocate
each task to responsible person. A detailed operational plan for offering organic food for the
6

new level of offering to the customer who are considered to the diet conscious and
nutrients conscious
Objectives: To provide value to target market by providing nutritional Indian food is one of the
main objective-
To become the market leader in food industry is other main goal which it wants to accomplish.
Strategies: It will make use of PESTLE, SWOT, Porter's 5 forces, Marketing mix, sustainability
and other strategies for identifying both internal and external factors as well as making
business sustainable (Towbin and et.al., 2018).
Functions: It requires performing purchasing, inventory management, sales, customer service,
recruitment and selection related functions. For each department it will hire experienced
skilled workforce like marketing manager, customer relationship manager, employees for
accounting and funding.
KPI: Using key performance indicators is one of the main key of managing operations and
making improvements accordingly. For example: CRM can allow company in knowing
effectiveness of its performance and level of customers satisfaction. By doing so, it can also
monitor and control its functions.
Communication is other main key of success of operational plan as by choosing appropriate
mode of communication manager of restaurant can make employees aware about what they
are required to do, what metrics they need to use, importance of using and what are their
roles in working towards goal.
By making an effective use of hierarchical organisational structure it can allot functions and can
manage all functions in an effective manner.
Technical solution and information technology plan
An Information technology plan is a blueprint that helps to focus on the comprehensive business
processes which is enabled and managed by technology and which the business uses to guide the
path to operations. It helps the companies to guide the path of decision making for IT.
The plan will help the business to analyze the overall strategy instead of just focusing on
succeeding in the market. With the help of this plan they will be able to increase the value of the
business and gain advantage over their competitors by taking the use of resources in an effective
manner. there are objectives of this plan which is easily aligned with the goals and mission of
the business developed by the entrepreneur.
7

It is necessary to assess the priorities of the business and take out the projects which are related
with IT so that the business can invest in that area. It is necessary that the plan of Information
technology includes a SWOT analysis for both the factors that is internal and external so that
they can work on the factors that are affecting the growth and contribution of Information
technology.
It is necessary that the gaps are filled so that plan taken out works more effectively. At the last
stage it needs to made sure that it is aligned with the goals and make sure that it complies with
the budget of the project so that resources are used on the basis of that which helps the business
to meet their objectives.
Human resources and organization plan
Human resource plan
The objectives and strategies of business for the next step will assess the requirement of
human resources. Human resource plan will help the company to review the requirements of HR
and ensure that there are enough employees for the business with skills that are required. It is
difficult for the business to find the right employee for the right area. It is because the market of
labor keeps on changing and people that are necessary and suitable for the business are not easily
available.
For this business needs to make extra effort and take out the source of information and
opportunity through which they are able to assess the talent in the market. This plan will help the
business to meet the requirement of supply of people. It takes many resources, time and effort
and if this planning has not been made before taking a decision then the right type of employees
and talent won’t be possible.
It is the responsibility of both the managers that is line and staff. Line manager of the business
will make evaluations for the requirement of manpower and the staff manager assess the
information that is supplementary. It is necessary to focus on the planning of the activities of HR
because it covers all the aspects included in it such as recruitment and selection, training and
development, evaluating for promotion etc.
Possible future development
As the art of the future development in considered this will have the clear level of dependency
on their level of total customers and the capacity and competence of their employees, their
8

investment strategy and the business structure. The main aims of restaurant are to have their
building the business which will be helpful in surviving their own projected cashflows without
having the any level of injecting finance from external sources once the business is officially
running. As the parts to the proper successful of the establishment of the restaurant will be helps
in providing the sustained expansion to the different locations with mailing the establishing the
resign foundation, structure an processes corporate culture is designed to drive our business to
greater heights and training and retraining of our workforce is at the top burner. There will be
emphasising of the dishes by recognizing the trends within the restaurant for the demand of the
healthy cuisines. For each department it will hire experienced skilled workforce like marketing
manager, customer relationship manager, employees for accounting and funding.It is necessary
to assess the priorities of the business and take out the projects which are related with IT so that
the business can invest in that area. At the last stage it needs to made sure that it is aligned with
the goals and make sure that it complies with the budget of the project
Summary
the studio24*7, new medium sized restaurants which will be trending the main street of London
paying more level of emphasis on the organic and ethnic food. The business will have the usage
of the ethnic recipes to have the providence to the customer with diverse and unusual menus. The
value proposition of the restaurant is having the organic food made up in the pattern of he ethnic
pattered as the offering the target markets for the new level of offering to the customer who are
considered to the diet conscious and nutrients conscious. The restaurant will use price skimming
as in this strategy companies offer its products at higher by delivering the quality of food for the
quality of customer. It will make use of PESTLE, SWOT, Porter's 5 forces, Marketing mix,
sustainability and other strategies for identifying both internal and external factors as well as
making business sustainable. CRM can allow company in knowing effectiveness of its
performance and level of customers satisfaction. By doing so, it can also monitor and control its
functions. It is necessary to focus on the planning of the activities of HR because it covers all the
aspects included in it such as recruitment and selection, training and development, evaluating for
promotion etc. The main aims of restaurant are to have their building the business which will be
9

helpful in surviving their own projected cashflows without having the any level of injecting
finance from external sources once the business is officially running
10

Appendix I
Market size
There is the increase level of trends regarding the customer to have the establishment of the
organic food items in the life course. In London their food spending is there all about 56% of the
total’s costumes experience and consumer spending on leisure and recreation made up of 13% of
total consumer spending.
Market growth
As per the increasing level of awareness among the customer regarding the importance of being
healthy in over the past few years have the upgraded their food service sectors. As the facts,
there is nor level of existence of the organic restaurant which provided the opportunity in order
to have the entrance to the profitable niche market.
Customer Segmentations
 The customer segment in the groups as he aims of targets as the first group that is lonely
rich 400,000 people.
 The next will be young happy customers growing at an annual rate of 8% with 150,000
potential customers.
 Third will be the rich hippies which have autarky desire of the organic foods as well as
ethnic cuisines.
 The fourth is the one interested in the healthy offering dieting women which number
350,000 in London area.
11

Preferences
As per the analyse the customer have the want of the organic and healthy food even through it is
costlier along with looking for the speed in the services. Consumer wants to have the
entertainments and fun experiences along with insisting upon the clean, friendly and attractive
environments which is adopting the global lifestyle coming from the ethnic level of
backgrounds.
Competitors
As due to the intense level of competition between the organic food and the fast food industry ,
the restaurant have the significant try o have the looking for the ay in order o differentiates there
palaces of business in order to have the achievements of maintaining the more level of
competitive edge so the firm will have try o look at the sophisticates and entreating looks in
order to have adopting the global lifestyle coming from the ethnic level of backgrounds.
Key partners
 Food process
 Serving food
 Inventory
 Home delivery aspect
12

Channels
The firm will have the leverage of there over stabilizing the restaurant over the posh area of
London with the classic sitting areas and more level of eligible services in order to make the
customer happier. There will be buying of the fresh material for the local organic supplier. There
will be following of the traditional formats and with development of there website marketing
statements which should be parallels to the compliance of cooperate sector.
Technologies
Appendix II
Cost structure
13

Revenue stream
14

15

Financial plan
The company have the expectation of the raising about to raise e $40,000 of our own capital and
to have the borrowing of the $100000 to be guarantee as the 10 years loam which will be
provided as there bulk to have the significant level of start-up as the financing which is
deliberately to be part of requirement.
Break even analysis
16

Cashflow analysis
REFERENCES
Books and Journals
17

Online
Wood, M.B. and Jobber, L., 2016. The marketing plan handbook. Pearson.
Išoraitė, M., 2016. Marketing mix theoretical aspects. International journal of research
granthaalayah. 4(6). pp.25-37.
Towbin, A.J. and et.al., 2018. Building and implementing an operational plan. Radiographics.
38(6). pp.1694-1704.
Kurowska-Pysz, J., 2016. Opportunities for cross-border entrepreneurship development in a
cluster model exemplified by the Polish–Czech border region. Sustainability, 8(3), p.230.
Vossenberg, S., 2016. Gender-aware women's entrepreneurship development for inclusive
development in sub-Saharan Africa. INCLUDE knowledge platform on inclusive
development policies.
Skrypnik, A., 2020. Business Plan for a Healthy Food Restaurant in Lappeenranta.
Bokhari, A.A., 2017. Economic Diversification in Saudi Arabia: Looking beyond Oil.
International Journal of Science Commerce and Humanities, 5(2), pp.1-12.
Leong, N., 2016. Identity entrepreneurs. Calif. L. Rev., 104, p.1333.
Sulaiman, S., 2018. Streamlining of Supply Chain to Improve Operational Efficiency in ARS
Emerging Market (Doctoral dissertation, Cardiff Metropolitan University).
Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan
International Higher Education.
18

19

20