Individual Business Plan

This business plan is based on a new start up “The Organic Farm Restaurant” which will offer its services in hospitality sector. This business will introduce “Customer-Facing Tabletop Tablet and Kiosks” which enable customer to get the food on table at less time. This report covers information about sources and approaches of innovation, relevant market information and data on hospitality sector. It also include information on competitors and customers and its application in context of hospitality industry. At last, a detailed business plan is developed which contains all the crucial information that helps in getting growth and success in market.

Individual Business Plan

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
The Idea.......................................................................................................................................3
Sources of innovation..................................................................................................................3
Innovation approaches taken by start ups...................................................................................4
Market Analysis..........................................................................................................................5
Target Market..............................................................................................................................7
Justification for start up market...................................................................................................7
Information on customers and competitors.................................................................................7
Business plan...............................................................................................................................9
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
A Business Plan is defined as a written document that includes all the informations about
a business including its nature, objective, vision, mission, marketing and sales strategy, financial
background, projected profit and loss statement etc. This written document provides a direction
for business as it contains the goals, strategies to attain these goals as well as the specific time
period within which these needs to be accomplish (Allison, McKenny and Short, 2014). This
business plan is based on a new start up “The Organic Farm Restaurant” which will offer its
services in hospitality sector. This business will introduce “Customer-Facing Tabletop Tablet
and Kiosks” which enable customer to get the food on table at less time. This report covers
information about sources and approaches of innovation, relevant market information and data
on hospitality sector. It also include information on competitors and customers and its
application in context of hospitality industry. At last, a detailed business plan is developed
which contains all the crucial information that helps in getting growth and success in market.
MAIN BODY
The Idea
“The Organic Farm Restaurant” is a new start up which will operate in hospitality sector
and offer organic food to customers in order to ensure their healthy lives. The restaurant will be
located in Central London, United Kingdom which is the innermost part of London comprising
various boroughs. In this restaurant, “Customer-Facing Tabletop Tablet and Kiosks” will be
available which allow customers to browse the menu, place orders, send them directly to kitchen
as well as pay bill without requirement of a live server. This is an innovative service which
provide an ease to customer to place the order faster without wasting time to wait for waiters to
take orders (Brinckmann and Kim, 2015). The main objective of this restaurant is to provide high
quality food products and services to diners and render them an unforgettable dinning
experience. In order to execute this idea successfully, it is required by management to analyse
the market and sector in proper way.
Sources of innovation
In order to bring innovation, it is very essential that an individual have an innovative
business idea. This idea come from analysing various sources which are also termed as areas of
opportunities. The different sources of innovation includes unexpected occurrences, process

needs, demographic changes, market and industry changes, incongruities, new knowledge and
changes in perception. All these sources of innovation can be utilise to generate an idea. The idea
of opening “The Organic Farm Restaurant” is generated by analysing the changing perceptions
of customers regarding food. Now a days, people prefer more to have organic food, instead of
fast food or junk food or the food that put adverse impact on the health of an individual. Due to
increasing health issues, it would be beneficial for people to eat organic food as it is good for
health. Apart from this, the idea of introducing “Customer-Facing Tabletop Tablet and Kiosks”
come from the analysis of change in market and industry. In the hospitality industry, the market
trends are changing rapidly which increases the competition in sector. In order to get success in
restaurant market, it is very necessary to bring constant innovation in processes and services. So,
the idea come from the increasing expectations of customers regarding products and services
(Cross, Belich and Rudelius, 2015).
Innovation approaches taken by start ups
Innovation is defined as the execution of new and better solutions that mitigates the
unarticulated needs. For each and every organisation, whether a start up or existing firm,
innovation is necessary. In case of a start up, it is a prime need as it is based on new and fresh
ideas along with the thirst for transformation and risk. As “The Organic Farm Restaurant” is a
new start up, it is very necessary for it to bring innovation in its services. The different
approaches to innovation that can be taken by firm are mentioned below:
Lean start up: It is the approach which is specifically designed for start ups,
entrepreneurs or firms which are looking for developing new goods or services. This approach is
developed by Steve Blank and is characterized as a blueprint for the way to run a start up. The
intent of this approach is to find out a product market fit by moving a product or service which
is minimum viable by develop-measure-learn loop of feedback. This approach initiate and end
with consumer. Through acquiring insights from perspective consumers at the initiation of
development, an individual, entrepreneur or restaurant can learn the way to design and execute
goods and services that will suits with the needs of customers effectively (Feenstra, 2014). At
the time of developing new product or service and execute lean start up approach, firm start by
developing minimum features that helps in satisfying early users. The assumptions of users about
features are then tested and measure. This assist management in taking evidence based decisions
regarding the direction a product or service must be moving into next iteration. In continuous

loop, this process is repeated until a product market fit is reached. Utilization of this approach
will provide practitioners with actionable metrics.
Design thinking: It is a problem solving approach that outcomes in solutions that are
loved by people. In this approach, an empathy is develop with people for which the product or
service is develop. Various techniques like sociology, psychology and ethnography are utilized
to acquire insights on behaviour of humans (Gately and Cunningham, 2014). This enables the
management of organisation to get clear understanding regarding the user and their needs. After
this, the design thinkers prioritize the most pressing issues of users and come up with the ideas to
resolve them. These ideas are then converted into rudimentary prototypes and provide to
customers. Use of this approach can minimise the risk included in bringing innovation to market
through probing the interest of people before invest in development.
Among both the approaches to innovation, lean start up is the most appropriate as by this,
the management of “The Organic Farm Restaurant” can develop order, not chaos through
administering tools to test vision constantly. Apart from this, it eliminates uncertainty and can
enable management to take evidence based decisions.
Market Analysis
Before initiating a business at new place, it is very necessary to analyse the market first in
order to effectively determine that opportunities and threats that are exist in the market place.
“The Organic Farm Restaurant” will open in Central London, England, United Kingdom. Each
country has its own business environment and contains various factors that impacts on
operations of restaurant. These factors can be analysed by conducting macro environment
analysis which is mentioned below:
Political factor: United Kingdom is one of the most powerful country and has a stable
political environment. Due to stable political condition, the policies and procedures are not
change frequently which will provide an opportunity to “The Organic Farm Restaurant” to run its
business operations effectively (Izvercian, Miclea and Potra, 2016). Although, Brexit has created
some uncertainties, it open immense opportunities for the nation and the businesses running in
it.
Economic factor: It involves the economic landscape of country. The economy of United
Kingdom is one among the largest in the world by nominal gross domestic product. High
economic growth of the country provide an opportunity to “The Organic Farm Restaurant” to

attain high profits and revenue in market. The spending of people on food is rely on economic
condition of market so, as the economic landscape of country is good, it renders an opportunity
to restaurant to sustain in market for longer run (Johnson and Garvin, 2017).
Social factor: This includes the needs and preferences, lifestyle trends etc. of people
living in country. The food industry of United Kingdom is influenced by these trends. The
awareness of people regarding their health influence the overall food and restaurant industry. The
attitude of people towards food is changing continuously and they prefer to have healthy food
options in their meal. This will provide an opportunity to “The Organic Farm Restaurant” to
attract more people towards restaurant as will offer organic food to customer which helps it in
effectively satisfying their needs.
Environmental factor: The food and restaurant industry of United Kingdom is largely
affected by environmental aspect. In UK, the rules regarding environment are strict and required
to follow by organisations in order to gain long term sustainability in market. If the “The Organic
Farm Restaurant” will not follow the rules made by government, then there are high chances for
restaurant to face criticism from society. On the other hand, compliance with all the
environmental laws and regulations provides an opportunity to company to run its business
operations effectively and smoothly (Keegan and Rowley, 2017).
Technological factor: In the growth and development of food and restaurant industry,
technology plays very crucial role. The sales of a restaurant is majorly affected by consumer
convenience and service quality. In this, introduction of technology like “Customer-Facing
Tabletop Tablet and Kiosks” can administer an opportunity to “The Organic Farm Restaurant”
as it will provide an ease to customer to browse menu, place order and send it directly to kitchen
and paying bill without need of any live server. This will help restaurant in gaining attention of
large group of customers and attaining competitive advantage in market over rivals.
Legal factor: In food and restaurant industry, the nutritive value and quality of food are
the areas which are impacted majorly by the law. Moreover, waste management and packaging
are also the aspects which impact the food sector most. Compliance with all the laws and
legislative requirements is very essential for “The Organic Farm Restaurant” in order to run its
business successfully. By complying with all the government regulations, restaurant will get the
opportunity to run business with the support of government and attain high profits (Krush, Sohi
and Saini, 2015).

Target Market
Segementation: It is the process of dividing market into homogenous groups. “The
Organic Farm Restaurant” divides its market on demography and behavioural basis. Income is
the factor which is considered while dividing the market. Medium and high income group
people are the main target group of restaurant. Apart from this, the needs and prefereces of
customers are also taken into consideration (Lidstone and MacLennan, 2017).
Justification for start up market
The chosen market to open “The Organic Farm Restaurant” is Central London. The main
resason behind selecting this particular market is that it consist of various boroughs and large
number of tourist visit that area which provides an opportunity to restaurant to attract large
number of customers towards the restaurant and earn higher sales.
Information on customers and competitors
In United Kingdom, the restaurant sector is growing rapidly and worth of 38 billion
pounds. Over 86,0000 restaurants are operating in the sector and spend around 18 pounds in a
week on eating out. In UK, around 1.7 million individuals visit restaurant once in a week which
is evidence of constant growth and evolution of industry. In the economy of United Kingdom,
the restaurant sector plays significant role by employing around 988,000 people. In year 2017,
the expenditure of customers on cafes and restaurant has reached to around 88 billion pounds
(Restaurant industry in the United Kingdom (UK) - Statistics & Facts, 2018). There are various
restaurants operating in London which offers organic food to customers. These include Oliveira
Organic Vegetarian Kitchen, The Rosemary Organic Hungarian Restaurant, The Duke of
Cambridge, Farmstand, Le Pain Quotidien etc. which are the competitors of “The Organic Farm
Restaurant”. All the rivals offers healthy organic food to people of London (Mastorakis and et.
al., 2015).

(Source: Number of restaurants and mobile food service enterprises in UK, 2018)
The above statistics depicts the number of restaurants and food service firms in United
Kingdom from year 2008 to 2018. In year 2009, a decline is seen in the number of restaurants,
but after that, it has been increasing steadily and in year 2018, the number were reached to
88,846 restaurants (McDONALD, 2016).
Illustration 1: Number of restaurants and mobile food service enterprises in UK

(Source: Consumer spending on food in UK from 2005 to 2018, 2020)
The above statistics shows the total spending of consumers on food in United Kingdom
from year 2005 to 2018. A constant increase in customer's spending on food is seen in the
statistics and in year 2018, it has been reached to around 94 billion pounds (McKeever, 2016).
Business plan
Executive Summary:
The plan is about opening a new start up named as “The Organic Farm Restaurant” which
offers organic food to customers who are concerned about their health. Market analysis helps in
analysing the situation of market and the factors that may impact the business. Competitive
analysis helps in determining the competition in market. Relevant marketing strategy supports in
promoting products and services effectively and attainment of goals and objectives of restaurant.
Company Description
Illustration 2: Consumer spending on food in UK from 2005 to 2018

“The Organic Farm Restaurant” is a new start up that will offer organic food to people
who are concerned regarding their health and prefer to have healthy food. The restaurant will be
established in the city of London, United Kingdom. “Customer-Facing Tabletop Tablet and
Kiosks” will also be introduced in the restaurant that makes it easy for customers to order food
quickly by sending it directly to kitchen and pay bill without using any other servers. The main
objective of restaurant is to offer high quality food products to customers with convinient
services and attain a leading position in the market of London.
Market Analysis
The macro environment of United Kingdom's market is appropriate for “The Organic
Farm Restaurant” as it will provide various opportunities to restaurant to effectively grow and
sustain in market. The political stability of country enable the restaurant to run its operations
effectively. The economic landscape is also in the favour of restaurant that will provide an
opportunity to firm to generate high profit. “Customer-Facing Tabletop Tablet and Kiosks”
technology provides it competitive advantage in market over the rivals. Apart from this, as the
awareness of people regarding health is increasing, providing them with organic food provides it
an opportunity to attain long term sustainability in market.
Competitive Analysis
Numerous competitors of “The Organic Farm Restaurant” are available in market
including The Rosemary Organic Hungarian Restaurant, Oliveira Organic Vegetarian Kitchen,
Farmstand, The Duke of Cambridge, Le Pain Quotidien etc. which will provide tough
competition to restaurant but, its innovative service of “Customer-Facing Tabletop Tablet and
Kiosks” provides it an advantage over the rivals.
Description of Organization and Management
“The Organic Farm Restaurant” is a sole proprietorship firm which manage and run by
single individual. The restaurant will hire skilled chef, stevards, and other staff so that all the
activities and operations can be run smoothly.
Products and Services
The restaurant will offer high quality organic food and quick ordering services to
customers.
Marketing Plan

Numerous promotional tools will be use by “The Organic Farm Restaurant” to promote
its products and services in market including social media, advertisement, public rlations, own
websites etc.
Sales Strategy
Initially, “The Organic Farm Restaurant” will offer discounts to customers in order to
attract them more towards it and then after some time, numerous other offers will also be
provided so that high sales and revenues can be generated. Apart from this, the restaurant will
offer its food at nominal prices which helps in generating high sales.
Financial Projections:
The financial projections for next 12 months of restaurant are mentioned below:
2020 – 2021 Budget
Monthly Cash Budget (in pounds)
Mar
ch
Apri
l May June July
Aug
ust
Sept
emb
er
Octo
ber
Nove
mber
Dece
mbe
r
Janu
ary
Febr
uary
TOT
AL
Opening
Balance
45,0
15
206,
061
289,
412
364,
656
449,
213
492,
266
510,
300
505,
924
466,5
34
485,
433
537,2
15
571,8
73
4,923
,903
Cash
Receipts:
Sales
revenue
385,
330
233,
224
206,
128
176,
520
107,
708
75,1
08
60,6
76
73,3
20
165,1
68
197,
192
193,8
00
217,7
36
2,091
,910
Total Cash
Available
430,
345
439,
285
495,
540
541,
176
556,
921
567,
374
570,
976
579,
244
631,7
02
682,
625
731,0
15
789,6
09
7,015
,813
Cash
Payments:
Direct
Materials
Purchases
51,6
03
48,1
97
39,5
14
25,4
91
16,5
53
14,5
28
20,3
22
37,5
26
47,69
3
48,2
30
53,69
3
60,02
6
463,3
76
Direct
Labour
137,
515
74,1
86
64,9
60
42,6
72
26,2
22
21,2
66
23,2
40
50,4
84
71,38
6
70,1
40
77,63
0
87,16
4
746,8
65
Variable

Overhead
Costs:
Indirect
material
10,9
78
5,86
0
5,14
0
3,40
0
2,12
0
1,72
0
1,86
0
4,00
0 5,660
5,56
0 6,080 6,960
59,33
8
Indirect
labour
5,48
9
2,93
0
2,57
0
1,70
0
1,06
0 860 930
2,00
0 2,830
2,78
0 3,040 3,480
29,66
9
Fixed
Overhead
Costs:
utilities 450 450 450 450 450 450 450 450 450 450 450 450 5,400
insurance
2,20
0
2,20
0
2,20
0
2,20
0
2,20
0
2,20
0
2,20
0
2,20
0 2,200
2,20
0 2,200 2,200
26,40
0
Restaurant
Supervisor’s
Salary
5,00
0
5,00
0
5,00
0
5,00
0
5,00
0
5,00
0
5,00
0
5,00
0 5,000
5,00
0 5,000 5,000
60,00
0
Rent
4,60
0
4,60
0
4,60
0
4,60
0
4,60
0
4,60
0
4,60
0
4,60
0 4,600
4,60
0 4,600 4,600
55,20
0
Repairs and
Maintenanc
e 500 500 500 500 500 500 500 500 500 500 500 500 6,000
Operating
Costs:
Utilities 50 50 50 50 50 50 50 50 50 50 50 50 600
Insurance 500 500 500 500 500 500 500 500 500 500 500 500 6,000
Administrati
on staff
wages
2,50
0
2,50
0
2,50
0
2,50
0
2,50
0
2,50
0
2,50
0
2,50
0 2,500
2,50
0 2,500 2,500
30,00
0
General
office
expenses
1,50
0
1,50
0
1,50
0
1,50
0
1,50
0
1,50
0
1,50
0
1,50
0 1,500
1,50
0 1,500 1,500
18,00
0
Rent
1,40
0
1,40
0
1,40
0
1,40
0
1,40
0
1,40
0
1,40
0
1,40
0 1,400
1,40
0 1,400 1,400
16,80
0
Total
Payments
224,
284
149,
873
130,
884
91,9
63
64,6
55
57,0
74
65,0
52
112,
710
146,2
69
145,
410
159,1
43
176,3
30
1,523
,647
Cash on
Hand
206,
061
289,
412
364,
656
449,
213
492,
266
510,
300
505,
924
466,
534
485,4
33
537,
215
571,8
73
613,2
78
5,492
,167

CONCLUSION
As per the above mentioned report, it has been concluded that business plan is a crucial
document that directs the functioning and future actions of business. It consist of strategies,
methods, objectives, goals etc. as well as the way to accomplish the goals. For a new start up, it
is very necessary to develop an effective business plan so that high growth can be attain in
market and firm enable to generate high profits.

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Online
Restaurant industry in the United Kingdom (UK) - Statistics & Facts, 2018. [Online]. Available
through: <https://www.statista.com/topics/3131/restaurant-industry-in-the-united-
kingdom-uk/>
Number of restaurants and mobile food service enterprises in UK, 2018. [Online]. Available
through: <https://www.statista.com/statistics/298871/number-of-restaurants-in-the-
united-kingdom/>
Consumer spending on food in the United Kingdom from 2005 to 2018, 2020. [Online].
Available through: <https://www.statista.com/statistics/289911/expenditure-on-food-in-
the-united-kingdom-uk/>