Key Processes and Business Processes in a Growing Company

The consumers are gaining confidence to purchase them more than the conventional foods despite the fact that they need to pay a higher amount of money, especially in the Australian food market. Since the customer now-a-days are ready to even pay an additional amount of money to consume within an environment-friendly environment, the organic restaurants are considered to be an immensely profitable option. The qualified organic food by law is committed towards having less of unpleasant elements, which in turn, makes the organic food immensely delicious

Running head: ENTREPRENEURSHIP
Entrepreneurship
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Table of Contents
1. Introduction............................................................................................................................3
2. Business Model Canvas.........................................................................................................4
i. Customer Segments.............................................................................................................4
ii. Value Proposition...............................................................................................................5
iii. Customer Relationships....................................................................................................5
iv. Channels............................................................................................................................6
v. Key Activities.....................................................................................................................8
vi. Key Resources...................................................................................................................8
vii. Key Partners.....................................................................................................................9
vii. Revenue Structure............................................................................................................9
ix. Cost structure..................................................................................................................10
3. Planning................................................................................................................................11
3.1. Market Analysis............................................................................................................12
3.2. Operations and Technology..........................................................................................13
3.3. Human Resources..........................................................................................................14
3.4. Finance..........................................................................................................................14
i. Profit and Loss statement (P/L account).......................................................................14
ii. Cash Flow Statement...................................................................................................15
iii. Balance Sheet..............................................................................................................16
iv. Personnel Plan.............................................................................................................17
4. Conclusions..........................................................................................................................17
5. References............................................................................................................................18
6.Bibliography..........................................................................................................................20
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1. Introduction
At present, the popularity of organic foods is found to be increasing on a wider scale. The
consumers are gaining confidence to purchase them more than the conventional foods despite
the fact that they need to pay a higher amount of money, especially in the Australian food
market. Since the customer now-a-days are ready to even pay an additional amount of money
to consume within an environment-friendly environment, the organic restaurants are
considered to be an immensely profitable option. It has also been observed that to have a
meal in the green restaurant, the customers are willing to pay around 10% more.
Contextually, the organic agricultural observations are responsible for protecting the
environmental issues globally, thereby maintaining a sustainable atmosphere in the long run.
The qualified organic food by law is committed towards having less of unpleasant elements,
which in turn, makes the organic food immensely delicious and attractive as compared to the
conventional food items (Lewin, 2019).
In the current scenario, the restaurants are found to possess an opportunity to choose from an
enormous and assorted range of organic food products which have been adequately certified.
The chefs who are specialized in preparing organic food also possess the potential to access
varied kinds of organic fruits as well as other organic products. Since Australian people are
seen to be indulged and conscious about organic food, therefore, planning for an organic
restaurant named Vegan café which is to be introduced at the central area of Melbourne by
the end of the next year. Although the center of Melbourne is congested with various types of
coffee, fast food stores as well as bakery shops, the organic restaurant will be a unique option
to start with. The foremost strength of this restaurant will be the sale of only fresh organic
food being bought directly from the farmers, who cultivate in a sterilized way considering the
involvement of highly skilful chefs. The primary goal of this restaurant would be to keep the
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people healthy by serving them with eco-friendly dishes and by emphasizing the context of
protecting the environmental aspects.
2. Business Model Canvas
i. Customer Segments
Satisfying customers need is considered to be the crucial element for building up the repeated
purchase. One of the crucial challenges faced by the restaurant industries in today’s world is
to provide quality food as it is the most fundamental element for restaurant experience which
is not only persuasive for the customers but can also prove to be a strong threat for the
business rivals. Providing superior quality of food is the most exceptional manner, in which
full advantage of the success of the restaurant business can be experienced. A remarkable
change within the food industry is that the customers are always ready to pay more for fresh
and superior-quality foods. According to the global strategic business report, Australian
customers preferred eating organic food. Therefore, the market is considered to be improving
with the initiative of catering to the needs of the people for organic food. Customer’s
emotional reaction to the organic food menu poses a significant influence on market
penetration (Gagić, Erdeji, Mikšić, & Petrović, 2015). Therefore, Vegan Café undergoes
varied ranges of organic items for the breakfast, lunch as well as beverages at a relatively
cheaper price
Breakfast (Until 1 pm) Price Lunch Price Beverages Price
Onion Porridge with green salad $ 6 Mushroom sandwich $ 8 Green Smoothie $ 4
Gluten free granola $ 7 Black bean burger $ 6 Sky sodas $ 3.5
Fruit salald $ 5 Gluten free pizza $ 9 Planet juice $ 2.5
Eggs toast $ 3 Soup and Salad $ 6
Sandwich with spinach $ 2 Vegan Lasagne $ 8
Quich $ 7
Menu of Vegan Café
Table 1: Projected Menu
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Moreover, it has been observed that the organic food market can be categories under three
different sets of customers, which are based on their behavioral beliefs regarding organic
foods. A large section of the female population within the age group of 18 to 20 possesses
positive attitudes towards organic foods. It has also been shown that the people with high
income also possess the required amount of knowledge on the advantages as well as the
needs for organic food. However, they try to enhance social recognition and respect through
this approach. Some of the Australian data reveals that the customers of organic food are
highly educated and holds higher income as compared to the non-organic food customers, as
the expenditure ranges to around AU$35,000 per year. However, cost and availability can be
a significant barrier in the case of organic foods. Health benefits can further act as a factor
influencing organic food habits among the customers (Nasir & Karakaya, 2014; Lea &
Worsley, 2005).
ii. Value Proposition
Vegan Café proudly announces that it will be committed towards providing fresh authentic
organic food along with fair enough amenities. Vegan Café’s value proposition is ultimate
which is relied on more than offering the quality food is but also tends to offer the customer
more attentive and personalized service because we are independently owned and managed
and not franchised by others. Contextually, its sustainability aims to provide fresh organic
foods with locally-based sourced ingredients which are grown in own herbs. The restaurant is
owned by full-service facilities along with offering online ordering. Great customer service
will be maintained by the skilful staffs. The exceptional signature item will be Vegan lasagna
which will be made off with all homely ingredients which will maintain the traditional fare
and the items will be comparatively cheaper than the other restaurants in this area. The
family-friendly ambience will contribute to adding an extra feature. Streamline feature of fast
delivery will also be a convenience for the customers.
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iii. Customer Relationships
Customer relationship management (CRM) contributes to the swift development of
communication as well as information technology, which further helps the companies to
attract the attention of the new customers. The increasing competition within the restaurants
of a particular region along with the continuously declining numbers of potential customer
generate the necessities associated with the implementation of the specific tools for obtaining
loyal customers by providing enormously modified products as well as services. The process
of maintaining customer relationship thus entails the proper management of the combination
of people, technology and processes. By randomly communicating with the customers,
effective CRM can be built up. An effectual CRM can rely on Exploratory Factor Analysis
(EFA), Reliability and Validity Analyses, by implementing the barriers and improving the
quality of the services. Availability of technical requirement is an essential element as it
implements CRM successfully, and even contributes in positioning time as well as the
resources in terms of the top administration assurance. It is also used for controlling the
operational aspects in association with targeting the long term benefits. CRM generally relies
on six markets, which are identified as the six market model consisting of the customer,
influencer, employee recruitment, supplier, referral and internal market among others (Ho,
Yang & Hung, 2015).
Figure 1: Factors influencing CRM
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(Source: vDoIT Technologies Pvt. Ltd., 2019)
iv. Channels
Australian restaurants are influenced by changing household demographics and lifestyles tend
towards the long term shifts in consumers trends (O'hanlon, 2018).
.
Figure 2: Food Supply and Integrity Services
(Source: PwC, 2019)
For creating an effectual supply chain management, the relationship with the suppliers and
other intermediaries need to be improved. Vegan Café will also be integrated with indigenous
Australian businesses to encourage supplier partnerships for supplying safe foods.
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Figure 3: Channels to customers
(Source: Australian Government, 2012)
v. Key Activities
For growing a food business, the owner must be responsible for disposing of the wastage or
by-product cautiously. Establishing long-term as well as the stable relationship with organic
food growing bases in Melbourne can be considered as one of the foremost activities with
respect to its collection of the key resources. Contextually, searching for the restaurants and
cooperating with them regarding the provision of similar kind of services can act as a unique
source of learning business skills. Moreover, developing a proper contact with the local
cultivators can also be regarded as an immensely accessible option in this case. Maintaining a
good partnership with investors can also be a major component. The explosion of social
reputation and maintaining communication with the public through social media can also be
considered as one of the most favorable key activities.
To obtain a proper food license, the first and foremost aspect, which needs to be considered,
is determining the classification of food business with the different territories in Australia.
The local governing body is involved in examining whether the business is properly
providing its food classification or not. After opening the restaurant, a premise register is
required to be shown to the restricted council. It is compulsory to get a staff designated by the
Food Safety Administrator in Australia, who can get involved in providing online or formal
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classroom training through Registered Training Organization (RTO) (Australian Institute of
Food Safety, 2019).
vi. Key Resources
The food industry is a fundamental aspect of Australia’s economic as well as social richness.
Around 20 per cent of the sales as well as service income are incurred from domestic
industrialization. It is also a noticeable factor that Australia is well-known for manufacturing
safe food on the worldwide scale. The local farmers are intensely responsible for growing and
supplying the foods in their own fields. However, Australian climate change can prove to be
a huge challenge for the Australian economy and the sectors such as agriculture, fisheries and
forestry are hugely dependent on climate change. The Farm Support Division, which are
operating under agricultural department are involved in improving some facilities to hold the
aspects of the agricultural sector and is hence considered to be a part of the climatic policies
(Australian Government 2, 2019).
vii. Key Partners
The Intrepid Foundation is involved in sending an enormous amount of their clients’ year to
KOTO foundation. Contextually, Intrepid sponsored 34 of KOTO trainees to their class
(KOTO, 2017). Therefore, the partnership with The Intrepid Foundation may thus prove to be
beneficial for vegan café so as to attract newer customers every year.
vii. Revenue Structure
Revenue structure can act as a major key element for creating a proper business plan. By
forecasting the upcoming sales for the next financial year, Vegan Café’s revenue structure
can be easily determined. The sales forecast is an ongoing process of business planning,
especially with regards to the lenders and the investors involved in it. Sales forecast
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automatically filled the profit and loss statement and this forecasted sales of the vegan café
has thus been provided below:
Items Unit Price ($) Unit Sales Total Sales
Onion Porridge with green salad 6 1235 7410
Gluten free granola 7 2363 16541
Fruit salald 5 1526 7630
Eggs toast 3 5678 17034
Sandwich with spinach 2 2356 4712
Quich 7 1259 8813
Mushroom sandwich 8 4598 36784
Black bean burger 6 6921 41526
Gluten free pizza 9 4568 41112
Soup and Salad 6 8784 52704
Vegan Lasagne 8 894 7152
Green Smoothie 4 8925 35700
Sky sodas 3.5 6589 23061.5
Planet juice 2.5 4595 11487.5
Annual Sales 311667
Forecasted Sales of Vegan Café for the Next Financial Year
Table 2: Forecasted Sales
ix. Cost structure
Generating cost structure is essential for a business to determine is the combination of all the
estimated variables and fixed costs which are incurred while conducting the business
activities. To start the Vegan Café, the estimated cost structure can be as follows:
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Items Estimated Monthly
Expenses (A) ($)
No of months to
cover expenses(B)
Cash required to
start the business
(A*B)
Salary of owner and manager 9900 12 118800
All other salaries of staffs 5800 12 69600
Rent 1833 12 21996
Advertising 6700 3 20100
Raw Material transportation 5600 12 67200
Supplies 4000 12 48000
Other utilities 2200 5 11000
Insurance 2300 5 11500
Taxes including Employment insurance 3600 12 43200
Maintainence 3100 12 37200
Legal and professional fees 5400 6 32400
Miscellaneous 2500 8 20000
Total cash required for monthly expenses
(C) 500996
One time capital cost:
Fixtures and Equipements
Decorating and modelling
Installating of fixtures and Equipement
Starting Inventory
Soft Costs:
Deposites with public utilities
Legal and other professional fees
License and permits
Advertising and promotion for opening
Accounts Receivable
Cash
Miscellanous
Total one time cash requirements (D)
Total estimated Cash required to start
business (C+D)
Cost Structure of Vegan Café
2659
6548
7412
5594
1569
5744
5400
6800
3259
8900
7210
61095
562091
Table 3: Forecasted Cost Structure
3. Planning
Proper planning is associated with providing specific and organized information for
facilitating a proper direction to the business. Moreover, it assists in maintaining a record of
all the financial activities, thereby covering the requirements at the time when it is needed.
The planning comprises certain criteria that include market analysis holding the current
market scenario of that particular industry in that specifically selected region, description,
outlook, and brief about the market leaders of that same industry. The other essential
components that need to be adopted are the operation and technology, which can emphasize
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the business with growing possibilities. The third vital element entails human resource
practices to achieve complete success of the organization. Last but not least, the most
essential element includes, maintaining the financial requirements in the long run.
3.1. Market Analysis
Innumerable opportunities can be found accessible in the Australian food market with respect
to the increasing numbers of consumers with the preference to consume foods outside their
home. Australian foodservice industry is classified by the types of a full-service restaurant,
self restaurant, street stalls of fast foods, kiosks, Café and bars and the home delivery
restaurants are also significantly noticeable in Australian Market. Although the largest
segment of the Australian food industry is determined by the restaurants providing full
service as the rapidly increasing segment relies largely on chained food restaurants. The
Australian food market is expected to reach the approximate amount of USD 80 billion with
the compound growth rate of 5.1% within the expected period of 2019 to 2024. It has also
been observed that an excess of 50 million people in Australia intends to consume food
outside thrice a week.
The major players of the Australian food market include McDonald's, Red Rooster, KFC,
Subway, Domino's and Hungry Jacks. The most favored and popular fast food restaurant
chain is thus considered to be McDonald's followed by KFC along with the others, who
indulge in offering Asian foods. Customers are more likely to shift towards eating healthy
foods and therefore opening an organic food restaurant would prove to be immensely
beneficial. Quite a few international brands of food service restaurant are consistently trying
to explore untouched markets in varied regions of the world, thereby expanding into the ones
already entered, so as to enlarge their operational business functions and to achieve a
competitive advantage in the long run. Thus, several fast-food chain of restaurant players,
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such as McDonald's, Subway Domino's, KFC, Pizza as well as Hut Hungry Jack's are
incessantly involved with the breaking of their market restriction by introducing new
restaurants throughout Australia. Contextually, in excess of the last few decades, Domino’s is
constantly trying to develop and sustain in Australia by introducing even more than 693
outlets throughout the country as by 2018.
Figure 4: Most Preferable Australian Fast Food Restaurants (2018)
Source: (Mordor Intelligence, 2016)
Although opening an independent full-service restaurant in a tight competitive landscape of
company-owned franchised outlets could be a little hazard but the raise in the shift towards
having healthy foods can act as a strong foothold in the market. This can further help the
company in achieving functional benefits for an organic restaurant for the next few forecasted
years. A separate promotional strategy with attractive menus and offers can contribute to
covering the customers of the market.
3.2. Operations and Technology
The most evaluated technology which can prove to be immensely helpful for emphasizing the
organizational activities is enhancing business intelligence (BI). It will be helpful in fixing all
the operations and in making informed decisions by aggregating real-time data. It will also be
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involving software tool to check the ingredients and the allergic substance present within
them. Voice recognition technologies might be rising and improving in the present times in
the retail sectors as well as in the foodservice industries (Stone, 2018).
3.3. Human Resources
Effective Human resource strategies are considered to be the most vital factor to balance
employee satisfaction, thereby achieving the targets in the long run. Due to an enormous
number of restaurants as well as fast food houses within the city, for running their business,
an effectual HRM practice would be required to meet the requirements of a beneficial market
(Tapola, 2019). Vegan café will, therefore, involve skilled employees and provide consistent
training to meet the customer’s satisfaction and reduce employee turnover largely. The
employees, who undergo stigmatized in food service jobs, possess the tendency to avoid
hospitality skills. This aspect can be regarded as one of the reasons behind the selection of
such incompetent employees working specifically in the restaurants, with respect to the
hospitality, which is the major element in case of servicing the customers.
3.4. Finance
The key elements, which need to be considered for generating a financial plan of any
business, include cash flow and profit and loss statement along with the balance sheet as well
as personnel plan. Contextually, break-even analysis contributes to adjusting the sales to
reach the break-even point, which is also necessary for the long run.
i. Profit and Loss statement (P/L account)
P/L account is significantly required to determine the profit as well as the loss encountered
over a certain period of time. The account is made of all the revenue elements, which lead
towards providing the net profit at the end. P/L account is also identified as an income
statement which can be considered as an essential report for a future business plan. Three
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major parts of the P/L account comprises revenue, cost of goods sold (COGS) as well as the
gross margin. The expected income of Vegan café for one financial year after opening can be
described as follows:
Amount ($) Amount ($)
3,11,667
78,568
9,445
88,013
2,23,654
55,568
8,900
2,568
1,587
2,894
1,575
15,563
803
962
3,567
22,000
809
2,300
35,568
1,54,664
68,990
8500
60,490
3200
57,290
Expected Profit & Loss (2021)
Propane
Salaries and wages
Food and Condiments
Royalty
Total Cost of Goods sold
Insurance
Particulars
Depriciation
Net Income before Taxes
Income Taxes
Net Income
Employee related expenses
Sales or Revenue
Cost of Goods sold
Gross Profit
Total Expenses
Net Income before Depriciation
Vehicle
Wages & benefits
Municipal Taxes & Water
Heat, Light and Power
Advertising and promotion
Rent
Telephone
Accounting
Interest & Bank Charges
Miscellaneous & office
Operating expenses
Table 4: Expected Profit and Loss Statement
ii. Cash Flow Statement
The ongoing and outgoing cash within a business is maintained through cash flow statement
because without determining the in-hand capital, from where the cash enters into the business
and where it goes, the owner can face hard times in running a healthy business. It also helps
to understand the profit, income and the current position of cash In the long run.
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Amount ($) Amount ($)
68,202
57,290
-8500
26,037
-10,710
4,605
485
1,37,409
2,600
1,34,809
16752
-859
1,50,702
78596
2,29,298
Projected Annual Cash flow (2022)
Particulars
Net Cash from Operations
Net Cash in Hand
Net Profit
Depriciation
Change in Account receiveble
Change in Inventory
Assets Purchased or Sold
Net Cash from Financing
Change in Short Term Debt
Change in Long Term Debt
Cash at beginning of period
Total
Total
Total
Change in Account payable
Change in Income Tax payable
Net Cash from Investing
Table 5: Projected Annual Cash Flow Statement
iii. Balance Sheet
The balance sheet is prepared to determine the financial position, which includes three types
of accounts, namely the Liabilities, Equity as well as Assets. It can also be identified as the
balance sheet, as per which an equation needs to be maintained in it. As Vegan Café
maintains a sole proprietor therefore, our retained earnings will be zero.
Assets = Liabilities + Equity
Assets Amount ($) Liabilities Amount ($)
Current Assets: Current Liabilities:
Cash on hand 2,29,298 Accounts payable 4,605
Cash at Bank 229298 Rent/lease 22,000
Inventory 10710 Utilities 2,200
Prepaid expenses 5689 Income Tax 3,200
Accounts receivable 26,037 Sales Tax 5,600
Employee mediacal insurance 236988
Total 5,01,032 Total 2,74,593
Fixed Assets : Long term liabilities 7,26,589
Land & Building 897000 Long term loans 4,56,822
Furnishings 12200 other long terms
Kitchen equipements 25680
Other assets 7845
Total 942725 Total 11,83,411
Total Assets 14,43,757 Total Liabilities 14,58,004
Projected Balance Sheet
Table 6: Projected Balance Sheet
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iv. Personnel Plan
Personnel planning must be conducted by considering the contribution of each member
towards the business in order to determine if they are justified. The members include
managers, cooks, staffs, employees, lenders, and investors among others. The payroll costs
include ones’ own earnings along with the wages of the managers, which should meet
somewhat around 25 to 35% of the entirety annual sales. If payroll costs are more than 35 per
cent of the gross sales, finding the appropriate ways to either decline those costs or augment
the sales can be considered as immensely beneficial in the long run (Entrepreneur Media,
2019).
4. Conclusions
It can be concluded that irrespective of Australia’s geographic condition, its demographic and
social lifestyle is changing hugely and the people are found to be shifting their preferences
towards consuming more organic food than fast foods, especially when they are outside.
Therefore opening a restaurant will be beneficial. Since there are several competitors in
Melbourne because of the advantage of the farming industry, the organic food supply can be
made easily accessible for the people therein.
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5. References
Australian Government 2, 2019, A change in climate, Commonwealth of Australia, viewed
23 September 2019, <http://www.agriculture.gov.au/ag-farm-food/climatechange>
Australian Government, 2012, ‘Foodmap An analysis of the Australian food supply chain’,
Department of Agriculture, Fisheries and Forestry, pp.1-100.
Australian Institute of Food Safety, 2019, Everything You Need to Know about Starting a
Food Business, Food Business Licensing, viewed 23 September 2019,
<https://www.foodsafety.com.au/resources/articles/everything-you-need-to-know-about-
starting-a-food-business>
Entrepreneur Media, 2019, The Staff You Need to Hire to Run a Restaurant, Entrepreneur
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Gagić, S., Erdeji, I., Mikšić, D., & Petrović, M.D, 2015, ‘new trends in restaurant industry:
serving locally produced and organic food
Ho, C.T.B., Yang, J.M.D., & Hung, C.S.V., 2015, ‘The Factors of Information System
Success: An Example of Customer Relationship Management Implementation in Food &
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<https://www.koto.com.au/key-partners>
Lea, E., & Worsley, T., 2005, ‘Australians` organic food beliefs, demographics and values’,
British food journal, vo. 107, iss. 11, pp. 855-869.
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Lewin, J., 2019, what does Organic mean, Immediate Media Company Limited, viewed 23
September 2019, < https://www.bbcgoodfood.com/howto/guide/organic>
Mordor Intelligence, 2016, Australia Foodservice Market - Growth, Trends, and Forecast
(2019 – 2024), Market Snapshot, viewed 23 September 2019, <
https://www.mordorintelligence.com/industry-reports/australia-foodservice-market>
Nasir, V.A., Karakaya, F, 2014, ‘Consumer segments in organic foods market’, Journal of
Consumer Marketing, Vo. 31, iss. 4, pp. 263 – 277.
O'hanlon, J., 2018, ‘Inside the supply chain of crown resorts’, BizClik Media Ltd, viewed 23
September 2019, <https://www.supplychaindigital.com/company/inside-supply-chain-crown-
resorts#>
PwC., 2019, Food supply and integrity services, From farm to fork, we’ve got your supply
chain covered, viewed 23 September 2019, <https://www.pwc.com/gx/en/services/food-
supply-integrity-services.html>
Stone, J., 2018, Six Ways Technology Can Elevate Your Restaurant Operations in 2019,
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Tapola, M., 2016, ‘Effects of employee turnover on service quality and customer satisfaction
in contact centers’, International Business, pp.1-13.
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6.Bibliography
Fast Business Plan, 2012, ‘Restaurant Business Plan’, Business Objective, pp. 5-33.
Government of South Australia, 2016, ‘A guide to starting a restaurant, café or take-away’,
Department of State Development, pp. 5-32.
National Restaurant Association, 2019, Research & Trends, Latest Research Headlines,
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