Business Plan for a Multi Cuisine Restaurant in London UK

This business plan outlines the steps required to start a multi cuisine restaurant in London UK. It covers the core features and benefits of the opportunity, steps taken to test the idea among the target market, size and profile of the target market, direct and indirect competitors, plans for promoting the proposed opportunity, sales strategy, finances required to fund the opportunity, and financial statements.

BUSINESS PLAN
1

Executive Summary
The following report has created enough response to the management of the business. In creation
of new business the report have provided information that required to clear objectivity for
understanding how new business needs to be repaired or presented. The organisational work has
also been discussed in the following report that must be considered by every other new aspirant
of preparing new business in society. The report has also provided with direct and indirect
competitors if the organisation is presented in society. Risk and the impact of that risk are also
discussed in the following report to enable the management to understand the positions that must
be considered to minimise the risk and problem. The report have also discuss regarding the
positive financial statements that must be considered to ensure that the business has a stable
financial strength. Legal as well as regulatory requirement for a new business to be formed in the
society have been discussed with descriptive format that will be helpful for acquiring advantages
in relation to business operation and marketing.
2

Table of contents
Introduction......................................................................................................................................4
Background......................................................................................................................................4
Core features and benefits of the opportunity..................................................................................4
Steps taken to test your idea among target market..........................................................................5
Size and profile of the target market................................................................................................5
Direct and indirect competitors.......................................................................................................6
Plans for promoting for proposed opportunity................................................................................6
Sales strategy...................................................................................................................................7
Finances required to fund the opportunity.......................................................................................7
Sources of finance for the proposed opportunity.............................................................................9
Financial statements.......................................................................................................................10
Contingency plans and risk assessments.......................................................................................15
Plans for managing the new business or the growth opportunity and Operational plans..............16
Legal or regulatory requirements...................................................................................................16
Conclusion.....................................................................................................................................17
3

Introduction
The following business opportunity is to open a multi cuisine Restaurant in UK as its is growing
industry and market both in the domestic as well as the international trend. The opportunity is to
open a multi cuisine restaurant in London and to generate good amount of revenue by customer
by rendering high quality services and products at a formidable price. The multi cuisine will be
named as Cravings and will be a multi cuisine restaurant, which will provide every type of and
range of diverse food products to their customers. It can be said that the number of customer for
a multi cuisine restaurant is high and the market size of the restaurant will thus be large as it will
be able to render both non-vegetarian and vegetarian food products, which will diversify the
range of customer, which the company will be available to.
Background
Restaurant industry and the restaurant market is one of the biggest revenue generating market all
around the world. There turnover is huge and the consumer base for such type of business is
huge which is a big opportunity for the entrepreneur to use and establish a affect restaurant
business in London UK. It can be said that as the firm will be multi cuisine restaurant the size of
the market which will be available to the company will be large which will financial benefit the
company and will provide exposure to the business in the market. The restaurant business is
opportunity for the entrepreneur to enter an significant and profitable industry and to operate in
the same (Scarborough, 2016)
Core features and benefits of the opportunity
The core features and benefits, which can be seen in the opportunity, are as follows:
1. The market is huge and there is huge amount of customers in the market which are
valuable to the company (Boiko, 2016)
4

2. The industry is in its growth stage the industry is growing on fast pace, which is
beneficial for the company’s future growth in the market, as the market will develop the
company, will develop.
3. The easy availability of materials and resources for this business is also a core benefits,
which can be received by the entrepreneur while operating under this industry.
It can be said that based on the above key features and benefits the company can do well in the
market after the start-up (Yu and Wiklund, 2015)
Steps taken to test your idea among target market
The steps that have been taken in order know the target market of the company is as follows:
1. Gathering data relevant to the target market for multi cuisine was conducted to know the
demographic aspects of the target market in the current market (Hopp et al. 2018)
2. Identification of the targeted using the relevant data we also performed through effective
evaluations of data which was collected through research process
3. Proper classification of the target market was performed to know the target market of the
company to ensure that the company is able know the population it has to target for
rendering services (Harrington, 2016)
Size and profile of the target market
Target market is the population, which the company will target for promoting their services and
will try attracting this population which will ensure effective operation of the firm in a
significant manner. It can be said that Cravings has diversified range of target market, which is
key feature of being a multi cuisine. It can be seen that in demographic manner people from 18-
45 are the highest population which are interested in eating out in some restaurants which will be
the main target market of the company. There are 65.5 million over 18 in the city which will be
5

the target market of the company and this shows the size of the target market which the company
has to attract for its operations. It can be said that in this way the company will be able to build
an effective consumer based in the market (Harrington, 2016)
Direct and indirect competitors
In every market, there are competitors, which have both direct and indirect competition of each
other. It can be said that for start-up firm it is important that competitors are identified to know
their strengths and weakness based on which the company is able to render effective services to
the customers in an efficient manner. It can be said that the firm has huge competition in the
market, as there are various companies and restaurants in the market. Although the range of
customer is high which will not affect the sale of the company but the major direct competitors
of the firemen are The blacksmiths arm and Jimmy’s Restaurant Wimbledon which are an
established restaurants in the multi cuisine segment. Direct competitors are the competent
operating in the same segment and having a direct impact of their competition to the business.
The indirect competition to the company is fast food companies and cafeterias like Subway,
McDonalds, Cafe Coffee day which derive a huge number of populations to their operations in
the market. They are considered as indirect competitors as because they do not working in the
same segment but has competitive effect of the firm indirectly by driving customers (Heslop and
Johnston, 2015)
Plans for promoting for proposed opportunity
Promotion and advertisement is one of the most crucial elements within a stray business. It can
be said that for making the following opportunity viable and successful the company will have to
promote and advertise the products and services of the company to attract the target market
towards the firm (Kusumaningrum and Hidayat, 2016). The advertisement and promotions of the
6

firm will be done through digital advertisement as because it is a prominent platform which can
be used for promoting and advertising the restrain. The social media and digital media user in the
city as well as the country is huge and thus is an effective media through which the target market
can advertised and attracted. Offline advertisement will also be done through leaflets and
banners. The company in the initial days will offer the discounts and complimentary dishes to to
promotes the services and attract the customers (Watson et al. 2018)
Sales strategy
The sale strategy of the company is very simple and is derived through two basic assumptions
that the consumer through promotion and advertisement will increase which will eventually in
the consumer base of the company. The sale strategy of the company is to render high quality
service and food to the customer at an formidable rates combined with a joyful ambience within
the restaurant to make the customers experience at the restaurant and joyful one this will help the
company to retain the customer. The company will also associated with some delivery system to
render home deliveries to customer order food online through various online ways such as Uber
eats which enhance the sales of the company and will give the sales of the company and
exposure in the market. The company will also be looking to provide stall of their flooding
various locations to increase sale of the food products provided by the company in the market
(Smith, 2018)
Finances required to fund the opportunity
The startup cost below will show the total amount of funds which will be required by the firm in
order to start the business in a efficient manner.
Start Up Cost
7

Particulars Amount Amount
Utensils £
1,200.00
Raw Materials £
30,000.00
Interior decoration £
6,000.00
Licensing fee £
5,000.00
Furnitures £
10,000.00
Machineries £
8

8,000.00
Equipments £
9,000.00
Lighting £
6,000.00
Begning cash
requirments
£
3,500.00
Offuce Supllies £
4,500.00
Total Startup Cost
required
£
83,200.00
Sources of finance for the proposed opportunity
There are various sources of finance, which are present to startup firm, and they are as discuses
below:
9

1. Debt finance: Debt finance is a source of finance in which the entrepreneur can take debts
from the available varying sources. There are a number of resources available in the
markets that provide the facility of financial debts.
2. Equity finance: It is one of the sources of finances in which the company could sell some
of its shares to acquires monetary value. However this benefit could only be attained by
the firm that are already existing
3. Venture capital: In this source of finance an external investor could be identified that
would make investment in the business venture activities.
Therefore, in respect to the new business venture of Cravings the entrepreneur should
consider venture capital for its major source funding. Since the startup, company could easily
get investors from the markets. As the investors, consider the start up options as an
opportunity for growth and development. Moreover, the entrepreneur would be able provide
easy return on the investments to the investors from the profit share value. In addition to this
the venture capital is more of an advantageous source of funding rather than any other
funding option.
Financial statements
Profit and loss statement of the company for year 1
Profit and Loss statements for Cravings
Partic
ulars
M
on
th
1
M
on
th
2
M
on
th
3
Q
ua
rte
r 1
M
on
th
4
M
on
th
5
M
on
th
6
Q
ua
rte
r 2
M
on
th
7
M
on
th
8
M
on
th
9
Q
ua
rte
r 3
M
on
th
10
M
on
th
11
M
on
th
12
Q
ua
rte
r 4
T
ota
l
10

Sales £
5,1
25.
00
£
18,
37
5.0
0
£
22,
50
0.0
0
£
46,
00
0.0
0
£
16,
18
7.5
0
£
5,6
25.
00
£
7,8
75.
00
£
29,
68
7.5
0
£
9,4
50.
00
£
10,
80
0.0
0
£
11,
47
5.0
0
£
31,
72
5.0
0
£
14,
62
5.0
0
£
16,
87
5.0
0
£
18,
00
0.0
0
£
49,
50
0.0
0
£
15
6,9
12.
50
Hom
e
delive
ry
£
30
0.0
0
£
30
0.0
0
£
30
0.0
0
£
90
0.0
0
£
30
0.0
0
£
30
0.0
0
£
30
0.0
0
£
90
0.0
0
£
30
0.0
0
£
30
0.0
0
£
30
0.0
0
£
90
0.0
0
£
30
0.0
0
£
30
0.0
0
£
30
0.0
0
£
90
0.0
0
£
3,6
00.
00
Cost
of
Good
sold
£
40
4.0
0
£
56
5.6
0
£
80
8.0
0
£
1,7
77.
60
£
1,4
14.
00
£
2,0
20.
00
£
2,8
28.
00
£
6,2
62.
00
£
3,3
93.
60
£
3,8
78.
40
£
4,1
20.
80
£
11,
39
2.8
0
£
5,2
52.
00
£
6,0
60.
00
£
6,4
64.
00
£
17,
77
6.0
0
£
37,
20
8.4
0
11

Gross
Profit
£
4,7
21.
00
£
17,
80
9.4
0
£
21,
69
2.0
0
£
44,
22
2.4
0
£
14,
77
3.5
0
£
3,6
05.
00
£
5,0
47.
00
£
23,
42
5.5
0
£
6,0
56.
40
£
6,9
21.
60
£
7,3
54.
20
£
20,
33
2.2
0
£
9,3
73.
00
£
10,
81
5.0
0
£
11,
53
6.0
0
£
31,
72
4.0
0
£
12
3,3
04.
10
Less
Expen
ses
Elect
ricity
Expen
ses
£
18
0.0
0
£
22
1.0
0
£
31
6.0
0
£
71
7.0
0
£
55
3.0
0
£
79
0.0
0
£
1,1
06.
00
£
23,
42
5.5
0
£
1,3
27.
00
£
1,5
16.
00
£
1,6
11.
60
£
4,4
54.
60
£
2,0
54.
00
£
2,3
70.
00
£
2,5
20.
00
£
6,9
44.
00
£
35,
54
1.1
0
Rent £ £ £ £ £ £ £ £
1,6
£ £ £ £ £ £ £ £ £
12

55
0.0
0
55
0.0
0
55
0.0
0
1,6
50.
00
55
0.0
0
55
0.0
0
55
0.0
0
50.
00
55
0.0
0
55
0.0
0
55
0.0
0
1,6
50.
00
55
0.0
0
55
0.0
0
55
0.0
0
1,6
50.
00
6,6
00.
00
Pack
aging
and
Shipp
ing
£
23
7.5
0
£
33
2.5
0
£
47
5.0
0
£
1,0
45.
00
£
83
1.2
5
£
1,1
87.
50
£
1,6
62.
50
£
3,6
81.
25
£
1,9
95.
00
£
2,2
80.
00
£
2,4
22.
50
£
6,6
97.
50
£
3,0
87.
50
£
3,5
62.
50
£
3,7
92.
00
£
10,
44
2.0
0
£
21,
86
5.7
5
Salar
y
£
1,4
58.
33
£
1,4
58.
33
£
1,4
58.
33
£
4,3
75.
00
£
1,4
58.
33
£
1,4
58.
33
£
1,4
58.
33
£
4,3
75.
00
£
1,4
58.
33
£
1,4
58.
33
£
1,4
58.
33
£
4,3
75.
00
£
1,4
58.
33
£
1,4
58.
33
£
1,4
58.
33
£
4,3
75.
00
£
17,
50
0.0
0
13

Assis
tant
salary
£
20
0.0
0
£
20
0.0
0
£
20
0.0
0
£
60
0.0
0
£
20
0.0
0
£
20
0.0
0
£
20
0.0
0
£
60
0.0
0
£
20
0.0
0
£
20
0.0
0
£
20
0.0
0
£
60
0.0
0
£
20
0.0
0
£
20
0.0
0
£
20
0.0
0
£
60
0.0
0
£
2,4
00.
00
Offic
e
expen
ses
£
44.
00
£
44.
00
£
44.
00
£
13
2.0
0
£
44.
00
£
44.
00
£
44.
00
£
13
2.0
0
£
44.
00
£
44.
00
£
44.
00
£
13
2.0
0
£
44.
00
£
44.
00
£
44.
00
£
13
2.0
0
£
52
8.0
0
Total
expen
se
£
2,6
69.
83
£
2,8
05.
83
£
3,0
43.
33
£
8,5
19.
00
£
3,6
36.
58
£
4,2
29.
83
£
5,0
20.
83
£
33,
86
3.7
5
£
5,5
74.
33
£
6,0
48.
33
£
6,2
86.
43
£
17,
90
9.1
0
£
7,3
93.
83
£
8,1
84.
83
£
8,5
64.
33
£
24,
14
3.0
0
£
84,
43
4.8
5
Profit/
Loss
£ £
15,
£
18,
£
35,
£
11,
-£ £ -£
10,
£ £ £ £ £ £ £
2,9
£ £
38,
14

2,0
51.
17
00
3.5
7
64
8.6
7
70
3.4
0
13
6.9
2
62
4.8
3
26.
17
43
8.2
5
48
2.0
7
87
3.2
7
1,0
67.
77
2,4
23.
10
1,9
79.
17
2,6
30.
17
71.
67
7,5
81.
00
86
9.2
5
Contingency plans and risk assessments
To operate a restaurant in recent society full of uncertainty there must be proper planning known
as contingency planning to ensure that the risk that Surround the organisation while it operates in
full phases does not impact much. Following structure present the list map that may hamper the
operation of the organisation the “Cravings” (Sadgrove, 2016).
15
Probability of Occurrence
Impact of risk
Low
High
High
Food
Poisoning
Customer
Dissatisfactio
n
Insurance
Management
Challenge

From the above Risk Probability Map, there is clear evidence regarding the probability of
occurrence and impact of raised up on the organisation that is to be newly formed named as
“Craving”.
Management challenge in the organisation the craving that is to be presented in society seems to
have a high probability of occurrence but a low impact of risk over it general work condition.
This is why it is clearly place in the very first quadrant of the risk map where the relation
between probability of occurrence and impact of risk is presented (Brink, 2017).
When discussing about high chance of occurrence we see that Customers dissatisfaction is kept
in second quadrant. We observe from the above map that the probability of occurrence of the
problem in the organisation is high and their impact over the organisational work if occurs will
have high concern. Food poisoning and insurance malfunction have low chance of occurrence
but have low and high impact over the organisation respectively (Brustbauer, 2016).
In order to ensure proper contingency plan for mitigating the management challenge that could
occur in the organisation the management team of “Cravings” must ensure a democratic format
of leadership where every organisational worker has their own se and decisions are taken in
accordance to the benefit of every management work in the organisation (Negnevitsky, Nguyen
and Piekutowski, 2015).
Considering the effect of customer dissatisfaction proper receptionist and waiter must be
appointed who have communication skills and sense of understanding the views of the customers
when they face any issue.
16

Plans for managing the new business or the growth opportunity and
Operational plans
For the constant chance of making the organisation success in long run it is essential that the
management must be prepared for the challenges that have to come in future. When discussing
about the operational plan the organisation that craving will be placed in the market where there
is gathering of both students and people working in offices. With the premises being presented to
students there will be requirement of Wi-Fi and small indoor games to make them feel comfy.
There will be soothing music around the cafeteria (Wright, Zeltmann and Griffin, 2017).
In requirement of the equipment for the cafeteria the Cravings, coffee machine, grill machine,
cooking utensils, liquid gas furnace, table, chairs and air condition are required in the very best
and possible time.
Legal or regulatory requirements
In requirement for the legal or related requirement for starting the captive the text and good
service tax that is GST nowadays must be properly filled up with proper tax file number.
Keeping the organisational financial is safe required proper accounting system that could have
institute for daily good practice of accounting work in easy method. Insurance also falls under
regulatory requirement for an organisation to safeguard them from unfortunate period (Jacques et
al. 2016). Getting in touch with the local Council for the approval of developing an organisation
in the society is one of the most important aspects that falls on the legal or regular requirement.
The questions and the guideline presented by the local Council of the society help in guiding the
management to form a new organisation with proper safeguard aspect.
17

Conclusion
From the above information regarding the preparation and planning for a new business
organisation in the society there has been enough explanation of the ways and the aspects that
must be included. Most interestingly the work has provided with information, Regarding every
aspect of market analysis, understanding of customers, preparation of expected budget, expected
profit and loss and many others that actually is required to prepare for operating new cafeteria in
the society. The assignment have also provided above operational plan and legal requirements
that would help them to mitigate problem while operating in long run.
18

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