Business sustainable growth plan for Honey n Chilly restaurant

This report provides a business plan for Honey n Chilly restaurant, including description of services, customers, competitors, skills analysis, funding sources, resource plans, management systems, and vision for the business idea.

BM564 Enterprise and Entrepreneurship
Business sustainable growth plan
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Table of Contents
INTRODUCTION ..........................................................................................................................5
MAIN BODY...................................................................................................................................5
Your Proposed Future Business..................................................................................................5
Customers....................................................................................................................................5
STP analysis of the Honey n Chilly restaurant is mentioned below- .............................................6
Competitors.................................................................................................................................6
Porter five forces of Honey n Chilly restaurant- .............................................................................7
Skills analysis..............................................................................................................................7
Finding, evaluating and selecting suitable sources of funding to grow the business opportunity
.....................................................................................................................................................7
Your plans for obtaining your resources, both tangible and intangible between now and either
1-2 year ahead.............................................................................................................................8
The type of organisation and the management information systems required to effectively
control the business.....................................................................................................................8
Vision for your Business Idea.....................................................................................................9
CONCLUSION ...............................................................................................................................9
REFERNCES:................................................................................................................................10
Books and Journals:..................................................................................................................10
Appendices.....................................................................................................................................11

INTRODUCTION
The main purpose of this report is to make a business plan for the restaurant whose name is Honey n
Chilly. Hence the business is related to service industry therefore, focusing on customers needs and wants
is essential. The following report will cover description of services offered by the restaurant, description
of customers, competitors and skills analysis required to perform the business. The following report also
include financial data of the restaurant, sources of funding, requirement of management information
system and vision of the business idea.
MAIN BODY
Your Proposed Future Business
 The service is related to the restaurant and they are mainly focused to provide international
recipes and flavours to their customers to make them happy and satisfied because customers
search for various international recipes.
 The Honey n Chilly restaurant will mainly focus to satisfy their customers with their different
variety of food items and unique menu design.
 The main innovation for this business is that the restaurant is offering almost all continental food
dishes to their customers. For example, a customer can even found English foods, Indian dishes,
Chinese and Thai recipes, Italian foods as well as food from different countries like Mexico, USA
and UAE are available in the restaurant.
 Intellectual property is that intangible property of a business which is used by the companies so
that their competitors will not copy the idea of their innovations. Some of commonly used
intellectual properties are patent, copyright, trademark and few others.
 The Honey n Chilly restaurant can use three types of intellectual properties and they are
trademark and registered designs.
 Trademark is used for protecting their logo and business name to get copied by their competitors.
 Registered design can be used for them to protect the pattern, color and decoration of their
interiors to get copied by others. The mentioned restaurant has good interior decoration which
attracts customers. Hence, this IP will help them to become unique in their market.
Customers
 The targeted customers for the restaurant are couples, family members, and the customers of all
age group.

 Any normal citizen of the country as well as tourists can buy the products and services offered by
Honey n Chilly. Middle class and high class citizens can use their services well because they
offer their food products and services in a low prices.
 The main USP of the Honey n Chilly restaurants is that it offers their foods and services in lower
prices as compared to their competitors with effectively focused on quality and excellent hygienic
factors. Another USP for the restaurant is their various kinds of recipes from different countries. The basic need of having quality food dishes with proper satisfaction is fulfilled by the
mentioned restaurant. A customer can find various continental dishes within a single roof.
STP analysis of the Honey n Chilly restaurant is mentioned below-
 Segmentation- This is the process of dividing markets into smaller sections to decide which
section is going to target for earning maximize profit (Čížová, 2020). In context of chosen
restaurant, they can segmented their market for high income, low income and middle class
incomes customers, males and females can also be segmented, children, adult and old age
customers are also preferred by the restaurant. In context of behavioural and psychological
segmentation the restaurant will segment their market for those customers who are loyal and
prefer to eat varieties of food dishes.
 Targeting- It is the process where company select one or more segmented groups to analyse their
targeted customers to whom they specifically offer their products and services (Hussain, 2019). In
context of chosen restaurant, their targeted customers will be from all age group of males and
females. They can also target high class and meddle class customers who are seeking for varieties
of continental food dishes.
 Positioning- This will define the position of company within the industry where it serve, as well
as the techniques used to higher the position of chosen restaurant (Norris, Taylor Jr and Taylor,
2021). In context of Honey n Chilly restaurant, their USP and special services will help them to
gain high position within their industry. They can gain the attention of customers through their
online services of delivering food products plus promoting their product on social media channels
which is having global reach.
Competitors
 The main competitors of Honey n Chilly restaurant are Divine Dine UK restaurant, Moor Hall
and many others.
 A level of market share is captured by these competitors. The main reason to buy the services of Honey n Chilly rather than than its competitors is that it
offers various food dishes from various countries like India, Italy, Maxicon and many others.

Secondly, the food is prepared by the well known chef of different countries to maintain the
quality and taste of the food dishes.
Porter five forces of Honey n Chilly restaurant-
 Threat of new entry- The cost required for business conduction and and managing supply chain
process is moderate but the cost for creation and maintenance of brand image image is high (Wei,
Xing and You, 2018).
 Threat of substitutes- In the food and beverages sector, there are various substitutes available.
Hence, customers have choice to switch to other brand if the chosen restaurant did not fulfil their
demand appropriately. It is also observed that high affordable rates are required to copy the
products and services. The chosen restaurant is required to use intellectual properties so that their
competitors will not copy their food dishes or business idea to attract customers.
 Power of suppliers- Finding individual suppliers are easy for the restaurant in the market. There
are various kinds of suppliers available within the industry,. Hence, this will help restaurant to
choose a low cost of supplier facilities.
 Power of customers- Customers which is targeted by restaurant is from UK and near by
countries. Hence, they are required to focus more upon English food dishes to satisfy their
customers.
 Competitive rivalry- A strong competition is seen inside the market which are experienced and
can impact the chosen restaurant's growth. The strategies and plans of substitute restaurants are
well developed.
Skills analysis
It is essential for every business to develop few of the skills and talents within their employees according
to their industry and objectives (Shah and et. al., 2018). In context of Honey n Chilly restaurant there are
few of the skills which is required to grow well and these skills are mentioned below-
 Communication skill- It is essential for the staff members of this restaurant to gain effective
communication skill to communicate properly with customers and analyses their needs and
requirements to fulfil them.
 Time management skill- Offering food dishes on time is essential to satisfy customers. In case
chefs and cooks took lot of time to deliver food dishes to customers than this will make their
customers unsatisfied and they can even switch the restaurant (Anning-Dorson and Nyamekye,
2020).
 IT skills- Today, most of the work is done online, hence, the orders taken by customers will be
delivered through touch screen system. Hence, the staff members must know the ways to manage
such technology effectively to deliver order to right customer at right table.

Finding, evaluating and selecting suitable sources of funding to grow the business opportunity
 It is essential for every business to analyses the source of funds for their business appropriately so
that they will not face any obstacle which can impact badly upon business operations (Hussain
and et. al., 2020). In context of Honey n Chilly restaurant, they can use banking facilities for
managing their funds for the business. In context of UK, there are various types of bank loans for
different businesses. UK is having 6% of interest rate per year for SMEs. Hence, using banking
loans can be beneficial for the restaurant.
 Angel investors are another source of fund which can be use d by the restaurant. Angel investors
are those individuals which provide funding to the various kinds of SMEs and specially they
invest in those businesses in which they are having expertise and they can predict future benefits
(Vives, Jacob and Payeras, 2018). Hence, analysing angel investor who can invest high in
business is beneficial for restaurant.
Your plans for obtaining your resources, both tangible and intangible between now and either 1-
2 year ahead
The investment of £500,000 is made in the business which is divided into various parts to manage the
business appropriately. The breakdown of the investment amount is mentioned below-
Star-up resources needed (these will include operating resources) Costs
Equipment 65000
building 200000
Staff hiring expense 25000
Promotional expenses 25000
Interior designing 30000
Furniture 20000
Raw material 50000
Research and development department 35000
Cash in hand for future use 50000

The type of organisation and the management information systems required to effectively control
the business
There are various kinds of management systems which are required to manage the Honey n Chilly
restaurant like-
 Management information system (MIS)- This is the information system which is used in
decision making (Nisar and et. al., 2021). This system will help management team to make
decisions on the process, technology and people within the organisation. In context of chosen
restaurant, their management team can analyse the requirement of staff members and requirement
of new tools and machines for their business success.
 Decision support system- It is a computerized program used to support determinations,
judgements, and courses of action in an organization or a business. In context of chosen
restaurant, their executives will use this system to make overall decision for their organisational
growth.
 Business information system- It is that system which is used by the companies to collect
information which can used by them for their effective growth (French, 2018). In context of
chosen restaurant, this system will provide them about the strategies of their competitors, the
current trends to follow for growth and many other marketing situations so that they will make
decisions to mitigate their obstacles.
 CRM system- It helps to keep customer's contact details up to date, tracking every interaction the
customer's have with business and managing their accounts (Spriet and McNabola, 2019). In
context of chosen restaurant, they can use this system well and this is one of the most important
system for the restaurant where they can analyse which food dish is more preferred by their
customers and which is not so that they will work harder to make modifications in those food
dishes which are not much liked by their customers.
Vision for your Business Idea
It is expected that the Honey n Chilly have bright future with effective operational and strategical
planning. They have the vision to build a strong customer base in UK marketplace. The main aim of the
restaurant is to maintain the long term business image by providing customers a good quality of food
dishes which further help them to satisfy and influence them to become the loyal customers of the
business. Another developed vision of the company is to gain competitive advantage within the industry.
CONCLUSION
It is concluded that the companies can gain high advantage of business growth when they are
managed properly and show innovations within their products and services. In context of

restaurant, they can grow well by identifying their targeted customers and analyse their needs
and wants and then work harder to fulfil them. Identifying competitors conditions will also help a
business to make effective strategies for their growth.

REFERNCES:
Books and Journals:
Anning-Dorson, T. and Nyamekye, M.B., 2020. Be flexible: turning innovativeness into competitive
advantage in hospitality firms. International Journal of Contemporary Hospitality Management.
Čížová, M., 2020. A Business Plan for the Establishment of a Korean BBQ Restaurant.
French, S., 2018. Between globalisation and Brexit: Migration, pay and the road to modern slavery in the
UK hospitality industry. Research in Hospitality Management, 8(1), pp.23-31.
Hussain, I. and et. al., 2020. Effects of sustainable brand equity and marketing innovation on market
performance in hospitality industry: mediating effects of sustainable competitive
advantage. Sustainability, 12(7), p.2939.
Hussain, M.T., 2019. A comprehensive business plan for the launch and execution of a fast food
restaurant.
Nisar, Q.A. and et. al., 2021. Depletion of psychological, financial, and social resources in the hospitality
sector during the pandemic. International journal of hospitality management, 93, p.102794.
Norris, C.L., Taylor Jr, S. and Taylor, D.C., 2021. Pivot! How the restaurant industry adapted during
COVID-19 restrictions. International Hospitality Review.
Shah, A. and et. al., 2018. Multiple surface segmentation using convolution neural nets: application to
retinal layer segmentation in OCT images. Biomedical optics express, 9(9), pp.4509-4526.
Spriet, J. and McNabola, A., 2019. Decentralized drain water heat recovery from commercial kitchens in
the hospitality sector. Energy and Buildings, 194, pp.247-259.
Vives, A., Jacob, M. and Payeras, M., 2018. Revenue management and price optimization techniques in
the hotel sector: A critical literature review. Tourism economics, 24(6), pp.720-752.
Wei, M.S., Xing, F. and You, Z., 2018. A real-time detection and positioning method for small and weak
targets using a 1D morphology-based approach in 2D images. Light: Science &
Applications, 7(5), pp.18006-18006.

Appendices