Business Idea Development for Indian Tadka Restaurant

Innovation and
Entrepreneurship

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
Business Idea Development .......................................................................................................3
Task 2...............................................................................................................................................5
Business Plan .............................................................................................................................5
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Business involves an organisation that are engaged in different industrial, commercial
and professional activities. Some business is perform with the intention to earn maximum profit
and aim of many business is to serve the services to society and not to do business for profit
making purpose. Some are operate to fulfil charitable mission. For any type of business it is
necessary to formulate business plan so that it can become easily to make arrangement and tends
to run the business smoothly. As it is prepare for long term and according to that only it become
possible to formulate strategies and frame policies for the purpose of business survival. In this
project business idea is to open Indian Restaurant with the name “ INDIAN TADKA ”in Park lane
, London. The main objective of such restaurant is to serve Huge variety of North and south
Indian food to the people who search for pure vegetarian food court. Various topics related to
business development plan , porter's generic model, SWOT, financial requirements are discuss in
the report (Alayoubi, 2020)
TASK 1
Business Idea Development
On the basis of analysis it is observe that people do not hesitate to spent amount for
delicious and tasty food. And youngster try new food places to take experience. So business idea
which tends to generate is to open themed restaurant in the prime location of the United
Kingdom so that large audience can be attracted easily. The creation of unique and innovative
idea to open theme restaurants. The restaurants will stand out from other competitors due to their
unique design and excellent décor. The costumes of waitresses and waiters will be stunning. Fine
dining experience in cozy atmosphere will be offer to their customers. The main moto of such
restaurant will be to provide quality food item as it will not only concern regarding great food
but to make excellent atmosphere and will offer great services. The menu will appeal to a wide
and varied according different types of customers. It is international with interesting twist of
offering genuine traditional recipes. Special theme nights will be planned like musical nights in
restaurant, Local artist's opening, Midsummer party, Easter dinner , presence of wine tasting
lunch and dinner , smorgasbords as well as special ethnic food & drink nights. As all these
features will attract large customer base. Without exception focus will be on cost controlling

because there are tough competition in hospitality and food industry. And restaurants must focus
for various ways so that to differentiate their business place for the purpose to maintain &
achieve competitive advantage. The restaurant will be plan to design in such a way that no other
hotels and restaurants in the area have this type of concept & atmosphere as this new plan
provides great opportunity to business and through capturing all the opportunity new business
can take entry into profitable niche in the market (Bekmansurov, 2019)
To satisfy the planning , smart strategies must be framed so that by implementing these
effective policies and strategies all work will be done in planner manner. To take competitive
advantage , the porter's generic model is follow-
Porters generic model
The generic strategies can be used to determine or formulate strategies for setting and
implementing new business idea. To beat competition organisation choose clear course. The
main strategies to concentrate on following elements such are describe as follows-
Cost Leadership: The main motto of organisation to capture large part of market share
by appealing to cost consciousness . The main objective of the company is to become lowest cost
producer in context to selected food industry. The main target of the company is to eliminate or
reduce unnecessary cost. This tends to permit the industry to offer their food items and services
below the average cost as a result it will achieve greatest profit. Organisation who tends to
exhibiting cost leadership try to eliminate various traits & attributes that make them best suited
for respective approach such as high level of productivity, low cost base with regards to labour,
overheads , material. Use of bargaining power for the purpose to negotiate low production cost.
Differentiation: the main attention of company is to make their item different from
competitors product so that brand can take competitive advantage. Such type of organisation
make emphasise to target large market and concentrate on concept of differentiation in wide
scale in specific industry than only it will be consider as cost led company. In terms to industry
services , products , the method to gain differentiation can broadly vary across industries. It make
focus to determine that in what manner products as well as brand marketed the product so that it
achieve an image for which audience value. At the time of food items , managers will leads to
focus on various criteria that are considered by consumer with in the industry. The important
trait associated with differentiation led company are strong research , innovation and