Business Plan for High Sky Restaurant: An Innovative Idea to Provide Food and Beverage Services in the Sky

This report deals with a business plan wherein a restaurant is being established with the name high sky restaurant which has an innovative idea of providing food and beverage services in the sky which is above 50 feet from the land. The report includes details of location, market analysis, product/service description, USP, competitor analysis, operations plan, risk and contingency plans, sales and marketing strategy, finance and funding plans, and management team.

Entrepreneurship

EXECUTIVE SUMMARY
Entrepreneurship is a venture which is initiated by the entrepreneur by an innovative idea
which involves high level of risk taking. The present report deals with a business plan wherein a
restaurant is being established with the name high sky restaurant which has an innovative idea of
providing food and beverage services in the sky which is above 50 feet from the land. This
restaurant is an innovative idea that can provide the customers with immense experience. This
business can flourish during the COVID-19 as it has the ability to act as stress releaser. By
consuming the services of this restaurant, the people can be stress relieved. The restaurant will be
established near Themes River where there is end number of competitors but the innovative idea
of restaurant in the sky has the ability to take the competitive edge in the market. The business
shall use aggressive marketing strategy by applying marketing mix so that it can attract more
customers in order to increase its sales. This innovative idea requires huge level of investment so
the funds will be raised by Angel investors or venture capital.

Contents
EXECUTIVE SUMMARY.........................................................................................................................2
INTRODUCTION.......................................................................................................................................4
MAIN BODY..............................................................................................................................................4
Business details.......................................................................................................................................4
Location...................................................................................................................................................5
Market / Industry analysis.......................................................................................................................5
Product/Service description.....................................................................................................................6
USP and Competitor analysis..................................................................................................................6
Operations Plan.......................................................................................................................................7
Risk and Contingency plans....................................................................................................................8
Sales and marketing strategy...................................................................................................................9
Finance and funding plans.....................................................................................................................10
Management team – justifying your ability to lead and manage this venture........................................11
CONCLUSION.........................................................................................................................................11
REFERENCES..........................................................................................................................................12

INTRODUCTION
The concept of entrepreneurship mainly refers to an activity which involves development
and management of the business venture so that the profits can be gained by it by taking many
risks in the world of corporate. It is simply the willingness to begin or start up the business. The
entrepreneur is the one who brings the innovative idea in order to fulfill the demand of the
market and achieve its business objective of generating maximum revenues and profitability. It is
an idea which involves setting up or starting the own business instead of working for other
person (Alseiari, 2020). The entrepreneur deals with many fears and obstacles but overcome
them with its hard work, knowledge and skill. They are the risk takers and believe in taking risk
in order to grow and succeed in the competitive world. This report shall deal with the business
plan which shall include the details of it, location, industry or market analysis, USP, competitor’s
analysis, description of product or service, operations plan, market strategy, funds and
management of business.
MAIN BODY
Business details
The present business is relating to the restaurant which shall be opened soon in London.
As there has been the major impact on the hospitality sector, especially the food and beverage
industry, this business plan is aimed to put efforts to bring the normal lifestyle for the people
wherein a restaurant is being planned to be opened which shall have an innovative idea so that
more of the people are attracted towards this industry. The opportunity for the present plan
involves giving once in a lifetime experience to the people while consuming food so that they
can be stress relieved due to the pandemic and gain the best experience. The name of the
restaurant will be “High Sky Restaurant” which shall be 50 Feet above the land in order to
provide immense level of experience to the customers. It shall provide the food and beverage to
the people in the sky. It shall have Indian, Italian, Continental and Chinese food. The customers
can avail the services of the restaurant after 2pm till 12am in the form of lunch, afternoon tea and
snacks and dinner. The opportunity to initiate this plan came from the stress which people are
experiencing due to shut down of nation at the time of pandemic of covid-19 so that now they

can get this amazing experience which can help in making their life stress-free, enjoyable and
happy.
Location
This restaurant, namely, ‘High Sky Restaurant’ shall be located in the City of London
near Thames River which will help in providing the great surrounding of availing the services of
restaurant. This location will attract the customers due to its environment and beauty. The
Restaurant shall be located near Thames River so that the elegant environment is provided which
shall serve the purpose of opening the restaurant.
Market / Industry analysis
This is one of the elements of the business plan which is mainly used to confirm
commercial feasibility of company. It mainly confirms existence of strategic opportunity and
profitable market for the product or service of the organization. The model of Porter’s five forces
shall be used for industry analysis. It is a framework which is used to understand the forces of
industry which may affect the profitability of the firm. In relation to High Sky Restaurant, it is
illustrated below-
 Competitive rivalry- It mainly looks at strength and number of competitors in the market.
It is concerned with how many rivals are there, who they are, what quality of offering do
they offer and many others. In relation to High Sky Restaurant, the power of this force is
moderate as there are many restaurants located near Thames River which have their loyal
customer base but the innovation in the High Sky Restaurant shall provide it the
competitive advantage which makes the power of this force moderate. The innovative
idea of providing services to customers in the sky shall help in attracting the customers
(Elwood and et.al.,2020).
 Bargaining power of suppliers- It is concerned with the easiness of the suppliers to
increase the prices. The power of this force for High Sky Restaurant is high as it is a new
business venture which requires it to deal with end number of suppliers at the initial time.
The dominance of suppliers in the market makes the power of this force high as their
position is market is stronger as compared to the High Sky Restaurant (Rocca, 2020).
 Bargaining power of customers- It looks at the likelihood of the customers to find other
alternatives or ways of doing what the business actually do. For High Sky Restaurant, the

power of this force is low as the restaurant has the innovative service which shall not
allow them to switch to other competitors. The service provided by High Sky Restaurant
gives it the competitive edge and is the main central point to attract the customers. So this
makes the power of this force low (Martín-sauceda, 2020).
 Threat of substitute offering- It refers to likelihood of consumers to find other alternative
option in the market or availability of similar product or service. The power of this force
for High Sky Restaurant is moderate as the business deals in providing food service
which is also offered by different companies which makes the power of this force high
but the innovative service of providing food and beverages to customers in the sky makes
its force moderate as it is the competitive advantage for High Sky Restaurant.
 Threat of new entrants- It is concerned with ability of people to enter the market. The
power of this force is low for High Sky Restaurant as it requires a lot of investment, time
and effort to enter the market with this innovative idea. Moreover, opening restaurant is
not challenge but to bring innovative and implementing it in the competitive environment
is difficult which makes the power of this force low for High Sky Restaurant.
Product/Service description
High Sky Restaurant will offer the wide range of food and beverage to the customers. It
will the multi-cuisine restaurant which will provide the Chinese, Indian, Italian and continental
food. The Chinese food shall cover the noodles, fried rice, spring rolls, Manchurian and other
items. The Indian food will include green vegetables chapattis (Breads), south Indian and other
items. In Italian, it will include Pasta, Pizza, spaghetti, Lasagna, tiramisu and many others. And
lastly, the continental items will include roast and salad, baked potato, chicken and cheese salad
and many more. The beverages shall include the cocktails, mock-tails, shakes and juices for the
customers (Marconi and Favi, 2020).
USP and Competitor analysis
The Unique selling preposition can be referred to as the unique benefit which is
exhibited by the company, brand, product or service that enables the organization to stand out
from the competitors. The USP for High Sky Restaurant is the innovative method of providing
the services of the restaurant. The service of providing food and beverages at the top of the sky
and above land is the unique selling preposition for High Sky Restaurant. Moreover, another

USP of the business is its multi cuisine which attracts more of the customers so that every
consumer who wants to consume any cuisine can enter the restaurant.
The competitor’s analysis is aimed to understand the strength and weakness of the
competitor while comparing it with itself so that the market gap is identified. It is essential for
businesses as it helps in recognizing the ways in which the business strategy can be enhanced.
For High Sky Restaurant, it is discussed below-
 The River café- This restaurant is situated new Thames River that offers the Italian
dishes to the customers. It offers the lunch and dinner facilities to the consumers and the
booking can be made online for the maximum of six people either via phone call or
through emails. The customers get the option to book the table either in dining room or
on the terrace which is suitable for all weathers and is heated and covered as well. It has
the beautiful ambience which attracts the customers and the quality of food is its major
strength (Mohammadi, 2020).
 Le Pont De la Tour- It is the French restaurant which offers the indoor and the terrace
dining service to the customers. It offers amazing jazz performances to the customers in
the evening on every Thursday wherein talented singer r the songwriters brings the sound
to audience in English and French. This uniqueness is its USP which helps it to take the
competitive edge in the market. It offers service in restaurant, bar& Grill and bar so that
the customers can enjoy the food (Romera, 2020).
Hence, it can be said from above competitor’s analysis that the High Sky Restaurant has the
USP which will help it to take the competitive advantage in the market. The innovative idea of
this restaurant f providing food to customer in sky is not yet being offered by any of the
competitor in London and the location will help it to take edge over competitors as it will be
located near Thames River.
Operations Plan
The operational proposition depicts contribute which envelops of data identifies with the
candidate's investigation and image of how restaurant and products aspiration be managed to the
benefactors and how conveyance should yield place. Challengers can be comfortable by their
métier and faintness. The vigorous assessment of the restaurant of the contenders will be that
they allot their fineness of assets by web based booking and variety open items. With the

utilization of advanced platform, the items and administrations can be strong-minded and by the
time of Coronavirus pandemic restaurants have formed this as happy to appropriate customer the
offices as near them. The everyday activities are basically doing on the arrangement premise in
the restaurant. The holding up clients redirects themselves in the parlor which includes the TV
and magazines. In the operational arrangement the administrations work contains the nail
treatments, pedicures, gel nails and so on in the authoritative capacity the administrations are
given in regards to the sourcing and putting away items, recruiting and preparing staff, client
administrations. The nail restaurant additionally plays out the working of look after faculty
(Sampath and et.al. 2021).
Risk and Contingency plans
Hazard alleviation is the way toward sorting, surveying and requesting the dangers that
makes after plentiful focuses with respect to unclearness in overall business sectors, peril of
advancement fiasco, legitimized obligations, mishaps, appreciation hazard and so on Hazard
vindication is a technique in regards to the accomplishment for lessening a social event
experience to likely danger which thought processes a grave harm or turnover or even
liquidation. The standards, charges and corporate performs variety the exertion complex which
expands the degree of hazard. There are various ways to deal with limit the peril.
 Assessing the political and business scene: By fostering an overwhelming business plan
the political illness and attractive environment can be insightful which drive arrangement
in huge the solicitation of the creation. There need be the valuation of transaction and
dissemination relationship to burn-through palatable arrangement (Silva, 2021).
 Choose the right colleague: The peril in business can be mitigating if the partner burns-
through specific thoughtful of the occupant standards and business performs. The exact
compliance administrations in the techniques and cultural possibilities of the restaurant
(Todri and Scalera, 2020).
 Hiring experienced neighborhood ability: To insurance the victory in the business very
much educated people should stay employed who burn-through the comprehension of
business representation, approaches and objectives.
 Developing a plan of action for the market: The tremendous states have multitudinous
market sections and actual regions which include a multi-part prototypical as sound as the

specific strategies. The common reflects through and through the straight and optional
consumptions with the global business.
 Following all Covid-19 protocols: In order to have smooth functioning of the restaurant
as well as safety concern from the perspective of customers the restaurant will follow all
the covid-19 protocols as prescribed by the government also will be served fresh and
healthy food which will be prepared after placing order that can be seen by the customer
as transparency will be made (Tokman, Mousa and Dickson, 2020).
Sales and marketing strategy
The idea of the redesign is real far reaching seeing someone which incorporates the
assurance of client needs and complete done satisfy people necessities. The publicizing dated is
related by the method of getting and selling the business exercises of items and offices which
remain returns between the makers to administrator. The promoting mix is a corporate
conventional uncovering the exposure practical and standard of exercises disposed of through the
development focused on the achievement of the determination in the reason market. The
showcasing blend is castoff for the advancement of variety in regards to the 4Ps of item, value,
spot and advancement.
 Product: It expresses what the restaurant needs to aimless to the clients focused on their
training and nourishment. Creation outlines an item which ideas a most minimal degree
of display in the management by the public offer of the belongings such as variety of
Chinese, Indian, Italian, Continental, etc.
 Price: It abridgements the worth of the development or conveniences articulated in the
family members of cash. Its systems the strategy for additive the value of assets and
conveniences through the creation located the inquiry like charge of creation, allure of the
development, nature of intensity. The liking helps in developed the creation later the
others and advances the portrayal of item (Yahaya, 2020).
 Place: It demonstrates the actual undertaking of properties in this way solo dwelling of
assembling to abiding of reveling. It delivers the home worth as assets are situated to the
necessary district near Thames River. It is distinct huge for amassing and dispersion of
merchandise. It marks the promotion station for passing on the belonging from seller to
procurer (Yoon and et. al., 2020).

 Promotion: It references to out and out such exercises of the creation like promoting,
explicit advancement; deals movement and publicizing which stay smart to consolation
the customer execution. The worth of advancement has blushed inferable from the
compounding rivalry. It starts inside and out those procedures that arrangement in
creation perceived the business' yield.
Finance and funding plans
 Angel financing: This kind of financing involves huge elements that put resources into
little and medium-sized organizations, just as has a spot in the organization's value and
index. These organizations have gotten information and experience from financial
backers. However, the organization requires sharing its governing body and its dynamic
force with financial backers that could be inconvenient to the organization (Zare and et.
al.,2020).
 Bank loans: The assortment of assets from monetary organizations or banks as advances
is called bank advances. This raising money technique is profoundly normal for
organizations since it gives secure exchanges and is a basic interaction. Under this model,
the bank will charge certain expenses and financing costs dependent on the measure of
credits made to the organization. For the organization, gathering pledges from banks is
the most appropriate way since it outfits secure and long haul financing. The danger
remembered for this model is low or invalid; this is the positive choice for SMEs on the
grounds that they can't confront incredible dangers. The advantage of getting a bank
advance is that the business knows your pace of return (financing cost) and the time it
takes to reimburse everything. Then again, the most fundamental disadvantage is that the
organization requires introducing some credit ensures as security.
 Crowd funding: New organizations in this industry for the most part utilize this
technique for raising support to sort out their assets. This incorporates gathering a little
piece of cash from an enormous public on the lookout. It improved the brand
acknowledgment of the organization and acquired the consideration of the media and
society. The primary detriment of this decision is that it's anything but a convoluted
interaction and is upheld by numerous legitimate techniques (Zuhdy, 2020).
For the current business the funding through angel financing will be best as this will provide
constant guide and direction to bring growth within it. In order to sustain in market with such

kind of innovation for long time a regular direction along with large amount of funds are very
essential which can only be possible through Angel financing.
Management team – justifying your ability to lead and manage this venture
In making of the corporate arrangement for the restaurant it involves the supervisory
crew to accomplish every one of the offices and cycles. The colleague comprises of the technical
department, accounts and finance, human resource, food and production, security and marketing
team where the day by day exercises are overseen and dealt with by the dispensing duties and
commitment.
CONCLUSION
The end has been produced using the discovering that beginning procedure is controlled
as regularly an embellished guide after the business from flow, decided and monetary areas. The
writer unmistakable the private undertaking as making to some degree unique by the trading of
capitals from the second rate compared to most elevate worth happenings. The risk should be
trailed by building up and with the monetary proposition of a hotspot for controlling the
outcome. The business computes the relations to arrange the liquidness, achievement and skill in
the business.

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