New Business Venture Assignment

Running Head: New Business Venture 1
Start-up of Restaurant

New Business Venture 2
Contents
Task 1...............................................................................................................................................3
Overview of the business.............................................................................................................3
Advantage and disadvantage........................................................................................................3
PESTEL Analysis........................................................................................................................3
Task 2...............................................................................................................................................4
Impact of globalization................................................................................................................4
Technology to improve business..................................................................................................5
Task 3...............................................................................................................................................5
Target customers..........................................................................................................................5
Ways to attract customers............................................................................................................6
Task 4...............................................................................................................................................6
Ethics in business.........................................................................................................................6
Treating the staff ethically...........................................................................................................7
References........................................................................................................................................8

New Business Venture 3
Task 1
Overview of the business
This report focuses on the startup of the business in the future. In the report, the business
idea of opening the restaurant is taken. This business idea is about the multi-cuisine restaurant
which will be started UK to meet the needs of the customers. Aim of the business of restaurant is
to provide delicious food and drinks to the customers in the market (Burns, 2014). The food and
drink will meet the highest standard of superiority, freshness and seasonality combination of the
customary and creative style of cooking. Name of the restaurant will be Paradise De Nature.
Food is the most important and integral part of daily lives of people. The restaurant can be
considered as the mode of availability of the food to the customers easily. The restaurants
business will be successful as there is 50% population of children and teenagers in the country
who demand food (Barros, Gal & Kindler, 2012).
Advantage and disadvantage
There can be advantages and disadvantages of starting the business of a restaurant. It is
observed that busy people choose to eat out rather than taking time to prepare the food at the
home. It means that the right restaurant at the right location will be profitable and beneficial.
Along with this, food is universal people have been hardwired to grab something to eat when
they are hungry. On the other hand, there are some disadvantages while opening the restaurant
business. There can be the issue of low margins, and expensive initial investment. So, there must
be high capital and fund to invest in the business otherwise the business will face losses (Boone
& Kurtz, 2013).
PESTEL Analysis
Political-
To operate in the UK market, restaurant has to pay taxes such as sales tax and payroll tax
to the government. The tax obligations in UK are different from the other countries. Along with
this, there are strict consumer laws which restaurant has to follow to ensure that the quality is
maintained and they deliver what they claim.
Economic-