Business Plan for Multi Cuisine Restaurant in London - Desklib

This business plan is about opening a new multi cuisine restaurant named Gloria in London, UK. The plan includes the mission, vision, objectives, products and services, market analysis, competitors analysis, marketing mix, operational and legal structure, budget, and monitoring and controlling. The restaurant will offer diverse food items according to the culture of diverse tourists at one place. The budget for starting the restaurant is £33,650. The legal structure of the restaurant is sole proprietary. The business plan will help the company to raise funds from investors.

ENTERPRISE AND
ENTREPRENEURSHIP

Introduction
 Business plan is a documentary proposal designed to establish a new venture with company's objective and detailed plan and
strategy to achieve its goals.
 The main advantage of business plan is to know the cost of developing new venture and to raise funds from investors.
 A restaurant is proposed to be started in London, UK. Name of the restaurant will be “GLORIA: Food for choosers”.
 The restaurant will be multi cuisine therefore, it will serve variety of food items in accordance to culture of diverse tourist at one
place.

Business plan
Mission
 The mission of Gloria is to provide delicious, high standard and remarkable food and drinks to clients
and give them satisfaction.
Vision of the business
 The vision of Gloria is to become first choice in multi cuisine restaurants for people in UK and among
different tourists.
Objectives
The objectives of Gloria are as follows:
• To provide an outstanding experience to customers
• To establish customer loyalty
• To offer diverse menu
• To create a brand value

Motivation for the choice of business
 Restaurant and food service industry is a profitable business no matter where it is located but the
profit margin of this industry in UK is growing day by day.
 The growth of tourism industry is another reason which motivated to choose this industry.
 Hospitality and tourism industry are the major source of income in UK and has major contribution in
UK economy.

Description of products and services
 The menu of restaurant will include Indonesian, Mexican, Italian, Indian, British and chef
special alternatives both for vegetarian and non vegetarian customers.
 The chefs will be hired from different regions and food products used will be fresh and
quality.
 Along with food restaurant will also offer drinks and wines according to tastes and
preferences of customers.
 The interior of restaurant will be based on different themes which would give traditional and
cultural atmosphere.

Market analysis
 Market analysis is an assessment of market within specific industry.
 The market analyzed using different tools such as PESTLE, Porter's generic tool and
SWOT analysis.
 The SWOT analysis reflects the strengths and weaknesses of restaurant along with the
opportunities and threats.
 For the success of organization, it is essential to identify opportunities and threats in
industry and take actions according to strengths and weaknesses.
 Company can achieve success if there is constant evaluation of opportunities and threats.

Continued…
PESTLE analysis
 PESTLE analysis enables organization to study and analyze external environment of business that may impact
business performance.
 Political factors
 Economic factors
 Socio-cultural factors
 Technological factors
 Environmental factors
 Legal factors

Continued
Porter's Generic strategy
 Porter's Generic strategy is a competitive strategy which can be used
for both product and services and in all industries and organizations of all sizes.
 The restaurant is planning to implement differentiation strategy by offering its
customers with diverse food according to culture of customers.
 Restaurant will focus on providing high standard products to its customers therefore,
price of food and drinks will be relatively high.
 Cost leadership.
 Differentiation
 Cost focus
 Differentiation focus

Competitors analysis
 Competitors analysis refers to examination of competitors, their market share, pricing, market strategy
and products or services offered by them.
 The major competitors of Gloria are Willows on the roof, Scarlett Green, Hibox, Faros London. These
restaurants are offering multi cuisine menu and also provides home delivery facilities.
 The competitive advantage of Gloria is that location is near lake so customers would be able to enjoy
their food with lake view.
 Restaurant will also provide multi cuisine menu according to taste of its diverse customers. Interior of
restaurant will give peaceful and friendly vibe along with music.
 The restaurant also has outdoor seating facilities.

Marketing mix
 Product
Gloria is planning to provide variety of food options to customers along with friendly services.
 Price
The restaurant will be providing high standard quality food with variety of options which may be little expensive..
 Place
Gloria will be providing offline as well as online food services to its customers.
 Promotion
Company is going to promote its business through online and offline sources.
 People
People are very essential part of restaurant, Gloria will recruit and hire skilled staff who can provide efficient
services to customers.
 Processes
Gloria will implement excellent service facility with minimum waiting time.
 Physical evidence
Restaurant will give friendly and peaceful environment to its customers with lake view that will give outstanding
experience to customers and enable company to develop strong customer base.

Operational structure and legal structure
 The organizational structure of Gloria will be functional structure i.e. all functions of
restaurant will be divided into different departments and each department will have
department head.
 The legal structure of restaurant is sole proprietary i.e. all major decisions will be
taken by owner.

Budget
Particulars Amount (in £)
Premises (rent, rates) 26000
Legal charges 1200
Salary and wages 4500
General expenses 850
Market research expenses 760
Miscellaneous expenses 340
Total 33650

Monitoring and controlling
 It is very essential to continuously monitor the business plan to know the
practicality and effectiveness of each process and action.
 And in case any modification and changes need to be made then the monitoring will
help in analysing the same.
 Key performance indicators must be set which can measure the success of the
business plan step by step.
 Number of people who contacted and enquired abut the products needs to be
considered as a quantitative measure for the monitoring.

Conclusion
 The above report has highlighted a detailed business plan which will enable company to raise funds from investors.
 The business plan is about opening a new multi cuisine restaurant with name “GLORIA”.
 The product has been chosen, after analysing the growth of restaurant and food industry
 The project contains market analysis through PESTLE, SWOT and Porter’s generic strategy.
 It also included operational and legal structure of company.
 The provisional budget for starting restaurant is also highlighted in this project.

References
Books and Journals
 Bernal, R. L., 2020. Objective and Organization. In Corporate versus National Interest in US Trade Policy (pp. 1-12). Palgrave
Macmillan, Cham.
 BMir, F. A. and Mir, M. A., 2019. Macro-Environment Analysis of the Tourism Industry of Kashmir. E-Commerce for Future & Trends.
6(1). pp.65-76.
 Cornell, D. A. V., 2019. Managerial skills and functions of restaurant managers of independent casual restaurants in national capital
region, Philippines. Revista Turismo & Desenvolvimento. (31). pp.91-100.
 Gordon, S. P., 2022. Vision and Mission. In Developing Successful Schools (pp. 245-262). Palgrave Macmillan, Cham.
 Kristiawan, Y., Hartoyo, H. and Suharjo, B., 2021. Customer Satisfaction: Service Quality or Product Quality (Case Study at Fast Food
Restaurant in Jabodetabek). Binus Business Review. 12(2). pp.165-176.
 Wichmann, J .R. and et.al., 2022. A global perspective on the marketing mix across time and space. International Journal of Research in
Marketing. 39(2). pp.502-521.
Online
Marketing mix, 2022. [Online]. Available through: <https://mailchimp.com/en-gb/marketing-glossary/marketing-mix-7ps/>