Planning for Growth: Analyzing Opportunities and Funding Sources for Smoke and Salt Restaurant

Planning for growth

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
P1/ M1 Analyzing key considerations for evaluating growth opportunities (640)......................4
P2/ D1 Evaluating opportunities for growth through Ansoff’s growth vector matrix................6
P3 Sources of funding for Smoke and Salt:.................................................................................7
P4 Business plan for small business............................................................................................9
M3 Developing the detailed business plan for growth and investment.....................................12
D3 presenting in-depth business plan........................................................................................12
P5 exit and succession options for small business.....................................................................12
M4 Evaluating, comparing and recommending best option......................................................13
D4 Critically evaluating exit and succession options................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES .............................................................................................................................14

INTRODUCTION
Planning for the growth refers to the business activities where the organization is concern
over increasing the market share and revenues in systematic manner over the years. Also, the
present report is based on smoke and salt restaurant in UK that is very well-known for its
services to large number of customers. Moreover, the report will analyse the growth
opportunities through applying various models so that best platform might be chosen for the
future. Furthermore, the study will apply Ansoff’s growth vector matrix so that best strategies
might be selected that would help the business to grow systemically over various targeted
regions . Also, various potential sources of funding available to the firm will also be analyzed in
detail that will help the firm to carry out various business operations. Moreover, the best
business plan would also be designed that will help the firm to cover the large market areas in
well-defined manner. Lastly, the exit or succession options will be identified through analyzing
each benefit or drawback in detail under this report.
MAIN BODY
P1/ M1 Analyzing key considerations for evaluating growth opportunities (640)
For firm like salt and smoke that is specialized in selling variety of food dishes it is
required that proper growth opportunities are evaluated so that it is able to expand its business in
various new regions (Njiri and et.al., 2021). Moreover, one of the best ways is through applying
the porter generic strategies that consist of the following elements:
Cost Leadership Strategy: This is strategy that is adopted by the firm when it wants to
become the cost leader in various markets. Furthermore, this could be done through increasing
the profits from the products from keeping the lowest prices as possible. Also, t through lower
prices it would be able to increase the overall market share that is good for the running of the
business for prolonged period. Furthermore, the cost strategy could be successfully adopted only
when the company is having large number of resources and have well-established brand image in
the market.
Differentiation Strategy: it is type of strategy where the firm is focused on selling the
products in various markets through making it unique and different from other competitors
products and services that are available in the market. Also, all the products have some special
attribute in them that is not already existing in the available products. Thus, more people would
be influenced to buy such kind of products and increase the sales of the business.

Focus Strategy: This strategy is only concentrated in targeting to particular niche
segment where the products are soled either on the basis of the focusing on the cost or making it
different from others in particular target market. Furthermore, such adding of something extra
always helps the business to reach to greater height of success and also it is required that proper
research is conducted before selling the required goods in the various regions.
Another best strategy that might be applied by the business to identify the best growth
formula is SWOT analysis that would help the firm in identifying the strengths and weakness so
that systematic measures than might be taken for the future growth of the business in various
regions.
Pestle analysis
This is analysis that is mainly done by the business to identify all the external factors that
affects the working of the business in long run. Furthermore, through complete analysis of such
factors the firm would be able to devise the best strategies for the future working of the business.
Political
It is required that political stability is known
for target market so that brand loyalty of firm
is maintained and business is able to earn
revenues (Kim and Newman, 2020).
Social factors
Existing competitors in the market are also
specialized in providing services and hence
factors like change in values, customs and
beliefs among the customers had to be known
in true sense and it might need more expert
marketing team to conduct various activities of
the business so that there is no negative impact
in the future.
Technological
Use of the upgraded technology requires
proper training of staff so that they are able to
build greater competencies and skills to bring
continuous innovation at the workplace.
Economical
Revenues of business is ensured when there is
no import export restrictions in various regions
otherwise it would negatively impact the
image of the firm and would cause serious
threat for future running of business. Also,
high inflation rate would create lack of
differentiation that would impact the business