Foodies Restaurant Business Plan for Enterprise and Entrepreneurship Course

This business plan for Foodies Restaurant is helpful for gaining the competitive advantage required for the enterprise and entrepreneurship course. It includes skills analysis, projected profit and loss account, cash flow forecasts, sources of funding, and plans for attaining resources.

BM564 Enterprise and
Entrepreneurship

Executive summary
Food industry is considered to be the one which is said to be the factor that is responsible
for the company to be able to gain the completive advantage in order to bring operations.
Business planing is very helpful and responsible for gaining the competitive advantage required.
There are various skills require for having successful business which has been accomplished by
involving different professionals such as operational marketing manager, etc. from the forecasted
financials it has been identified that business can potential of earning portability.

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................4
MAIN BODY...................................................................................................................................4
Proposed Future Business............................................................................................................4
Customers....................................................................................................................................4
Competitors..................................................................................................................................5
Skills analysis...............................................................................................................................5
Providing projected 2 year profit and loss account and cash flow forecasts including break-
even for the particular business ..................................................................................................7
Analysing and choosing suitable sources of funding to grow the business opportunity ...........7
Providing plans for attaining resources involving both tangible and intangible........................7
Type of organization....................................................................................................................8
Vision for your Business Idea......................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
APPENDIX....................................................................................................................................10

INTRODUCTION
Entrepreneurship is the activity of the business for taking the financial risks in the hope
of profits of the organization. In this project the chosen business idea is foodies restaurant based
in UK.
MAIN BODY
Proposed Future Business
This restaurant known as Foodie's restaurant is a business idea that will open in London
in compliance to the current culture. The products of this organization are going to be all the
Turkish food items such as Turkish Sharma, Turkish desserts, and classic Turkish beverages
such as lemons and Aryan (Lee, 2018.). This is going to help company to be able to be very
successful in the market. The company will bring the innovation of a new theme of food
restaurant in the market that is related to Turkish style of cooking.
For this organization the best form of intellectual property would be the trade mark which
is the right that is related to the ways in which the persons are over the creation of their minds. It
is also helpful for the creator to give exclusive right over the use of their creation of the certain
period. It will help the company to develop a sign that will help it to distinguish its products and
services with other restaurants.
Customers
This business will focus on the tourists and the locals of London for their products. The
target customers for this organization would be the young individuals which will get attracted by
this company from the social media marketing means. USP for this organization would be “taste
of Turkey in the London at foodies restaurant”. The buyers of the product will be the individuals
that will be interested in a Turkish meal. This is also said to be the key factor which is helpful for
the organization in the underpinning the research of the target market and their evaluation for the
businesses and its position for meeting the market needs.
The target market of this company will be related to the different types of customers that
are involved in the market with relation to the ways in which they provide the business with the
position of the market. The customers of this organization are the young individuals that are

related to the factors that bring the success to the business and also the ways in which they are
able to bring the business the growth which are essential for the business (Priskila and Rina,
2019.). This company will be using social media in order to attract the customers as the target
market of this company are young individuals which are the most active on the social media
platforms.
Competitors
The competitors of this business can be analysed with the help of the porter's five forces,
Threat of new entrants :
In this market of restaurant business the threat of new entrant is always there and with a
innovative idea of this company the other business entrepreneurs will also get influenced for
making investment in the restaurant business with Turkish food (Cadena and et.al., 2020).
Threat of substitutes :
For an organization in the food industry the customers have many options hence there are
different types of substitutes for the Turkish food of this company.
Power of suppliers :
The suppliers of this company are vendors that are going to be providing the company
with the raw materials which is useful for the generation of the business.
Power of customers :
The customers in the market if this company has the most Power as they are able to gain
the success of the business as this there are many other option for the company invest into. This
allows the customers to switch their options with very less switching cost.
Existing competitions :
Existing competition in the market of this company are related to the ways in which the
company is able to gain the success in the market for which is able to gain the success in the
organization.
The reason why these customers will choose the products of the Turkish background as
an innovation of this organization is that it will able to gain the competitive advantage.
Skills analysis
There are various form of the attributes which are required for having the smooth
processing of organization so that effective working for accomplishing the organizational

objectives can become possible. In order to have the successful functioning of restaurant, the set
of skills which are available involves higher understanding of customer demand, creativity,
communication, detailed oriented behavior, change adaptability, etc. there are various skills
which are possessed and for overcoming gap of lacking areas the course of action which will be
adopted involves having effectual marketing tools so that greater emphasis on market demand
can be exerted (Lynn and Rosati, 2021). There is requirement of having different skills
possessing employees so that higher effectiveness in meeting the overall requirements of
different department of company can become possible. For this purpose proper team
management by possessing suitable recruitment process which involves having identification of
needs, job description formulation, evaluating the available pool of candidate, interviewing, etc.
the primary element in team is having proper understanding of business requirement.
Team members Skills and experience
Engineer Possessing 5 years of experience with having attributes such
as building innovation process in firm by handling technical
requirements (Onyeoke and Owenvbiugie, 2021).
Chefs With 4 years of experience by including the higher
knowledge of product design, customer satisfaction,
optimum utilization of resources, etc
Cleaning employee With 2 years of experience with possessing knowledge of
health & safety and hygiene needs of customers, etc
Waiters 3 years of experience of delivering precise information,
presentation, etc.
Accountant 2 years of knowledge in formulating reports, allocation &
monitoring resources, taxation, etc.
Operation manager The major skills' requirement such as data handling,
technical knowledge, leadership, etc with 3 years of
experience.
Marketing managers Having the greater market knowledge, precise

communication, expertise in digital practices, feedback
handling, etc with 3 years of experience.
Inbound logistic manager 11 year of experience with good network in market, quality
control assurance, etc skills.
IT manager For collecting, storing, handling data and other requirements
with significant & suitable application of software for higher
efficiency with 5 years of experience.
Providing projected 2 year profit and loss account and cash flow forecasts including break-even
for the particular business
From the evaluation of the projected profit and loss account (Attached in appendix ) it
can be interpreted that there are various expenses which are basically exerted by the organization
for accomplishing the ability to earn profitability. On the basis of this it can be interpreted that
the profitability is found to be in the inclining trend which helps in gaining the confidence that
higher stability in the overall processing will be derived by enterprise.
Cash flow statement which is formulated for the tow year (enclosed in appendix) which
is interpreting that there is higher cash inflows as compared to outflow which aids in depicting
that organization is achieving significant position to operate in hospitality sector. The break even
point is helpful in finding the situation where there is no profit and loss which is presented in
appendix (Singh and Maiti, 2019). It is required to earn revenue of 55666.66 so that break even
situation can be achieved.
Analysing and choosing suitable sources of funding to grow the business opportunity
There are different types of the sources of finance which involves different form of
sources that comprises crowdfunding, equity, bank loan, etc (Ali and Khalid, 2019). for the
current purpose the organization focuses on the bank loan which is one of the significant
external sure of finance for which interest is required to be pay. Investment & venture capital for
achieving ability to coordinate with the changing requirement of the hospitality sector can
become possible. On the basis of this it can be mentioned that these are the sources of finance
which are taken into process.

Providing plans for attaining resources involving both tangible and intangible
Start-up costs
Particulars
Budgete
d £
Business name 30
Licenses & Permits 80
Domain names 40
Trade marks/designs/patents 50
Registration of Vehicle 65
Fees of Accountant 150
Fees regarding Solicitor 70
Utilities (Electricity, gas, etc) 90
Computer software 450
Plant & equipment
Warehouse expenses
Vehicles - forklift 1000
Equipment for Safety 2000
Security & data handling system 1000
Furniture 3000
Reception fit out 6000
Computer equipment 2500
Other software 4000
Total cost required 20525
Type of organization
Foodies Restaurant is going to be divisional organization as it will have the structure in
which their will be different division in which the work is going to be divided and the company
will be able to gain the competitive advantage out of the performance of each division
(Kryukova and et.al., 2019). The management of the company will be able to gain more
effectiveness with the help of having different division with different divisional leaders

responsible for their actions it will divide the responsibilities effectively and help the company to
gain the competitive advantage that is required for the restaurant in the food and beverage
industry.
Vision for your Business Idea
Providing distinctive and high-quality
Turkish culinary products that can permit the business to have effective ability to meet
customers' requirement for gaining leading position in market.
CONCLUSION
From the above report it can be concluded that entrepreneurship requires various skills
which can help in accomplishing organizational objective. The current study has involved
information regarding customers, competitors, sources of fiance, forecasting financial statement,
etc which depicts that business can attain success.
REFERENCES
Books and Journals
Ali, K. and Khalid, M., 2019. Sources to finance fiscal deficit and their impact on inflation: A
case study of Pakistan. The Pakistan Development Review. 58(1). pp.27-43.
Cadena, M. A. T., and et.al., 2020. Neutrosophic AHP in the analysis of Business Plan for the
company Rioandes bus tours. Neutrosophic Sets and Systems. 34. p.16.
Kryukova, E., and et.al., 2019. The development of the restaurant business in Russia. Journal of
Environmental Management & Tourism. 10(3 (34)). pp.412-419.
Lee, S. M., 2018. The influence of the experiential marketing factors of restaurant on the brand
image, satisfaction, and customer loyalty: Focused on restaurants in complex shopping
mall. Culinary science and hospitality research. 24(2). pp.112-118.
Lynn, T. and Rosati, P., 2021. New sources of entrepreneurial finance. Digital Entrepreneurship,
p.209.
Onyeoke, J.E. and Owenvbiugie, R.O., 2021. Skills and knowledge required by business
Education Graduates for Entrepreneurship Survival. Multidisciplinary Journal of
Vocational Education & Research. 1(4).
Priskila, L. R. and Rina, A., 2019. Risk management for start-up company: a case study of
healthy kitchen restaurant and catering. Russian Journal of Agricultural and Socio-
Economic Sciences. 86(2).
Singh, P. and Maiti, D., 2019. Sources of Finance, Innovation and Exportability in Asia: Cross-
country Evidences. Journal of Asian Economic Integration. 1(1). pp.73-96.

APPENDIX
Profit and loss account
Year 1 Year 2
Particulars £ £ £ £
Sales unit 25000 35000
Selling price 120 120
Sales Revenue 3000000 4200000
Less Cost of goods Sales 675500 575500 75500
Gross Profit 2324500 3624500
Gross Profit Margin 77% 86%
Expenses:
Payroll 9000 9000
Sales and Marketing 7500 9000
bank loan interest 1200 1200
Utilities 1200 1200
Insurance 300 300
Rent 6500 6500
Cleaning expenses 1500 1200
Less Total operating expenses 27200 1500 28400
Profit before interest and tax 2297300 3596100
Less Interest 1150 1150
Profit before tax 2296150 3594950
Less Tax @ 20% 459230 718990
Net Profit 1836920 2875960
Net profit Margin 61% 68%
Cash flow statement
Particulars Year 1 £ Year 2 £
CASH INFLOWS £ £
Investments 35000

Loans 10000 10000
Venture capital 25000
Total inflows 45000 35000
CASH OUTFLOWS
Payroll 9000 9000
Sales and Marketing 7500 9000
bank loan interest 1200 1200
Utilities 1200 1200
Insurance 300 300
Rent 6500 6500
Cleaning expenses 1500 1200
Total outflows 27200 28400
NET CASH FLOW 17800 6600
Break even
Particulars Formula £
selling price per
unit 120
less: VC per unit 90
Contribution
Selling
price-
VC
30
FC 16700

BEP (units)
Fixed
cost/
contribu
tion
557
BEP (rupees)
55666.66
6666666
7