Business Aims and Objectives Assignment
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Added on 2020-01-07
Business Aims and Objectives Assignment
Added on 2020-01-07
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Business Plan1
TABLE OF CONTENTS1. Executive summary .........................................................................................................................32. nature of business ............................................................................................................................3Introduction about company ...........................................................................................................3Business aims and objectives ..........................................................................................................3Description of products or services ................................................................................................33. market ..............................................................................................................................................4Market growth .................................................................................................................................4Market demand for start up .............................................................................................................4Market demand risk and opportunities ...........................................................................................44. Competitors analysis .......................................................................................................................55. Marketing plan .................................................................................................................................5Marketing strategies ........................................................................................................................5Segmentation, targeting and positioning (STP approach)...............................................................66. Operational structure .......................................................................................................................77. Financials and forecasts ...................................................................................................................7Financial feasibility..........................................................................................................................7Sources of finance ...........................................................................................................................9References...........................................................................................................................................11INDEX OF TABLESTable 1: Projected income statement....................................................................................................8Table 2: Average sales price of dishes..................................................................................................9Table 3: COGS for various dishes........................................................................................................9Table 4: Percentage growth of dishes on monthly basis.......................................................................9Table 5: Employee cost of the firm......................................................................................................92
1. EXECUTIVE SUMMARY In the present era, growth which takes place in service industry such as hospitality,restaurants etc. is more commendable. By taking into account this aspect entrepreneur has decidedto open restaurant in Manchester of London. Moreover, it is the more famous area of Londonwhere number of luxurious restaurants are situated. In this, entrepreneur has identified that he willcompete with such restaurants by establishing the artificial water fall in Fountain Valley. Besidesthis, entrepreneur has determined that by opening the restaurant at late night he will enlarge itsprofit margin to the large extent. Further, from the operational and financial point of view theproject of restaurant will be more viable. Hence, by framing the suitable framework according thecompetitors framework Fountain Valley will enjoy the desired level of outcome or success . 2. NATURE OF BUSINESS Introduction about company From market research, entrepreneur has decided that he will open Fountain Valley restaurantin London. This restaurant will be based on artificial waterfall which assists him in attracting thelarge number of customers. In this, the the waves of water will move from the below side in such away that it is move from the table. It is one of the main innovativeness of this restaurant which willmake it different from others. This restaurant will offer, British, Mexican, Chinese and Indian foodproducts or services to the customers. Besides this, it will also provide late night restaurant servicesto the customers. Further, with the aim to enhance profitability by serving more customers strategiesof competitors will be analyzed by the business entity. It will enable him to frame competentstrategic and policy framework for attaining success in the strategic business arena. Business aims and objectives Aim of the entrepreneur includes the offering of hygienic and quality food products orservices to the customers at late night. It will provide assistance to the business entity inmaximizing the productivity and profitability by influencing the more customers. Sole proprietorhas employed below mentioned goals and objectives for carrying out the project of restaurant are: To offer remarkable dinning experience to the customers by establishing artificial waterfall. To provide customers with attractive ambiance which make their experience memorable. To offer variety of foods such as British, Indian, Mexican, Chinese etc. for increasing thecustomer base. Description of products or services Business entity will offer wide variety of foods at different time. Moreover, breakfast,3
lunch, snakes as well as dinner will be offered by Fountain Valley restaurant. In this regard, soleproprietor will offer breakfast to the customer during the time period of 10am to 12 pm. Whereas,during 1pm to 3 pm lunch will be availed by the restaurant. Further, from 7pm to 12am restaurantwill offer snakes and dinner to the customers according to their demands. Besides this, suchartificial water fall restaurant will provide many kind of food on one roof such as Indian, Mexican,Chinese, British etc. Along with this, Fountain Valley restaurants will deliver late night and otherdinning services in whole year. Besides this, business unit will also make focus on building theambiance of restaurant highly attractive through artificial waterfall and music system. Besides this,business entity will also design the restaurant in such a way that gives satisfactory experience to thecustomers by making luxurious dinning arrangements and reducing the waiting time to thesignificant level.3. MARKET Market growth According to the report introduced by market intelligence firm Allegra Food services, thegrowth of the restaurant will double over the next three years. Besides this, report shows that theUK restaurant market will be reached on £52bn by 2017 (Market trend of UK, 2016). This aspectclearly shows that the people of London prefer to go restaurants more frequently. In the presenttime, rise in disposable income and desire of living with high standard is one of the main causesdue to which people go to restaurants. This is the good indicator for the firm which will aid in theirgrowth and profitability aspects. Hence, Fountain Valley can build or sustain competitive advantageby offering the unique dinning products or services to the customers. Market demand for start up Demand for the new start up will be high due the changing trends or pattern of lifestyle. Inthe present scenario, large number of people prefer to go to the restaurant on weekends whichreflect their standard of living. Besides this, trend towards the working women also increased withthe very high pace. In this, most of the time couple prefers to go to the restaurant for taking lunchand dinner more frequently. Market demand risk and opportunities Changing taste and preferences of the customers is one of the main factors which closelyhampers the market demand. Moreover, now customers prefer to take experience of new-newdishes. Besides this, uncertain economic condition such as inflation or deflation also affects thedemand of the market in the negative direction. Whereas, entrepreneur can enhance its revenue by4
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