Indian Delight Business Plan

This project report presents a detailed business plan for Indian Delight, a new Indian restaurant launching in Muscat, Oman. The plan includes market analysis, customer segmentation, value proposition, marketing strategy, operational plan, financial projections, and risk mitigation. It utilizes Porter's Five Forces and Porter's Generic Model to analyze the competitive landscape and identify opportunities for success.

Preparation of
Business Plan

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
BUSINESS DETAILS.....................................................................................................................1
INDUSTRY AND MARKET ANALYSIS.....................................................................................1
CUSTOMERS AND VALUE PROPOSITIONS............................................................................4
MARKETING STRATEGY............................................................................................................4
OPERATION PLAN.......................................................................................................................6
MANAGEMENT TEAM AND COMPANY STRUCTURE.........................................................6
RESOURCES..................................................................................................................................7
FINANCIANG.................................................................................................................................8
FINANCIAL PROJECTIONS.........................................................................................................8
RISK AND STRATEGIC OPTIONS..............................................................................................8
KEY MILESTONES.......................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
APPENDIX....................................................................................................................................12

EXECUTIVE SUMMARY
Business plan is a document that carry detailed information about the business which is
going to be introduced. Mission, vision and strategic objective of the new venture are the main
components of a business plan. It guides the managers of the organisation to make appropriate
decisions so that the new business can be established successfully (Benson, Jordan and Huitema,
2012). In this project report a new business plan for an Indian restaurant whose name is Indian
Delight has been made. This restaurant is going to be launched in Muscat, Oman. This
assignment aims at the business details, industry and market analysis, customer and value
proposition, marketing strategy, operating plan, management team and company structure,
resources, financing, financial projections etc. Risks and strategic options have also been
discussed under this report.
BUSINESS DETAILS
A new Indian restaurant is going to be launched in Muscat, Oman. The name for the
restaurant is Indian Delight which is a new and innovative idea. This will help to capture large
market area by serving Indian cuisine in Oman. More than 20% of Oman's population is Indian
hence it is a great opportunity for the business to target those customers. Mission vision and
objective of the business is as follows:
Mission: Indian Delights restaurant is willing to successfully establish its business in
Oman by providing good quality food items to the local public of Oman.
Vision: Long term vision of Indian Delights restaurant is to be the first choice of the
Omanis and capture larger market share by providing good quality food to them.
Objectives: Main objective of the restaurant is to establish the business successfully in
Oman and fulfil the requirement of Indian food there.
Exact location for the restaurant is Indian Delights, Mutrah Cornish – Opposite to Sultan
Qaboos Port, Oman.
INDUSTRY AND MARKET ANALYSIS
Industry analysis: It is a tool that facilitates the companies to understand their position
in the market and also analyse the factors that may affect industry positively or negatively. It is
very important for the business enterprises to determine the profit which is going to be acquired
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in future. For Indian Delights industry analysis can be conducted with the help of Porter's
Generic Model, which is described below:
Porter's Generic Model: This model was introduced by Michael Porter. It is mainly used
for the industry analysis perspective. There are four different strategies that should be considered
by the organisations who are going to launch the business in market (Bogers, Hadar and Bilberg,
2016). Indian Delights can formulate strategies to achieve competitive advantage with the help of
this model. All the strategies of this model are described below:
 Cost leadership: According to this strategy companies should launch products on lower
prices to the target market so that large market area of the industry can be captured.
Indian Delights can get a success in Oman by setting low prices of all the dishes and
launch the business in target market. If the restaurant is the lowest cost producer in the
market than higher profit can be acquired the same.
 Differentiation: It is suggested to the organisations to introduce products in market with
uniqueness so that large number of customers get attracted. As Indian Delights is a new
concept and a unique idea hence it is possible that it can get success in less time in the
market of Oman. This strategy can be used by organisations when customers or target
segment is not price sensitive if the food supplied by Indian Delights is unique than
customers will not be worry about the price of the food.
 Cost focus: The organisations may choose to introduce their products in niche market so
that reaction of target market can be recorded on the service and quality of items that are
supplied to them. As Indian Delights is a new restaurant and it has no idea of industry's
conditions hence it can firstly launch its food in niche market and if the food is liked by
them than it may target a large market area (Campbell Jr, and Kresyman, 2015).
 Differentiation focus: For the new launching business this is the best strategy as it
suggests the companies to intrude their products with unique feature in niche market so
that competitive advantage can be attained. Indian Delights is can used this option while
introducing itself in market by offering unique food to the niche market segment.
From all the above mentioned strategies Indian Delights should select Differentiations
focus strategy because it best suits to the organisation. As it is going to offer unique food to the
Omanis and should introduce its food items in niche market so that their feedback can be used to
make future strategies to expand business.
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Market analysis: It is also known as competitor's analysis in which market related
aspects are analysed so that effective strategies can be formulated to be more competitive in the
market (Doppelt, 2017). For Indian Delights Porter's five force model can be used for market and
competitor's analysis which is as follows:
 Competitive rivalry: This force help to evaluate existing competition in the market who
may affect operational efficiency of the new launching company. As Indian Delights is
going to be introduced in Oman there are various Indian restaurants who may affect
business of the restaurant. Main competitors of Indian Delights are Mumtaz Mahal,
Woodlands, The Indus, Jashan and The great Kabab restaurants who have established
their business in Oman. It is suggested to Indian Delights to some unique elements to
establish it business in Oman.
 Bargaining power of suppliers: When there are less suppliers in market and the buyer
are vary high than it will increase bargaining power of suppliers and they will sell the
material on high prices. In Oman there are less suppliers who provide such items that are
required to cook Indian food hence bargaining power of suppliers is very high and Indian
Delights should formulate effective strategies that may help to deal with suppliers.
 Bargaining power of customers: Most of the customers demand high quality of
products on lower prices and if an organisation is not able to meet their expectations than
it is not possible to establish the business successfully. The new launching restaurant
Indian Delights should set appropriate prices for its food items and provide good quality
food so that it may help to attract large number of customers.
 Threat of new entrants: It refers to the new business who enter in the market and affect
sales of other companies. Indian Delights is a new restaurant which is going to be
introduced in Oman and it is very important for the owner to keep information of such
restaurants who also also going to launched in same market with same quality food
because this may help to formulate effective strategies for the restaurant to attain success
(Duval‐Couetil, 2013).
 Threat of substitute products or service: There are various products in the market that
can be used as a replacement of other such type of goods are called substitute products. It
is very important for Indian Delights to gather information of such substitutes that can be
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replace their food so that it may serve such items to the customers that are different from
other and cannot be replaced.
It is very important for the owner of Indian Delights to gather information of market so
that its business can be established successfully in Oman.
CUSTOMERS AND VALUE PROPOSITIONS
Value propositions can described with the help of different angles as it guides the
companies to create extra value so that large market area can be acquired. According to value
proposition an organisation should have some unique selling points that can attract large number
of individuals. As Indian Delights is a new and unique idea of restaurant which is going to be
established in Oman. Main target market segment of the restaurant is the Indians who are living
in Oman and willing to have Indian food (Joseph and Benefield, 2012). They can be targeted if
the food quality of Indian Delights is very good. Customer value proposition can be created by
the organisation by keeping customers as the the centre point of the business. There are five
different types of elements that may help to create a value proposition. All of them are as
follows:
Functional value: According to this element product or service is concerned with
convenience. It can be adopted by customers if it can satisfy their needs.
Emotional value: If the food supplied by Indian Delight is pleasant and attractive than it
may result in large number of customers.
Economic value: The food supplied by Indian delight should provide economic benefits
to the customers so that they may get attracted toward restaurant.
Symbolic value: All the organisations should fulfil all their social responsibilities that
add value to their market image.
End value: In this element all the above mentioned elements are presented by the
organisation that help to establish business successfully (Lock, 2017).
MARKETING STRATEGY
Marketing strategy is that activity of business plan in which all the promotions,
customer's identification and advertising related activities are performed so that a new business
can be launched successfully in the market. It consist all the 7P's of marketing and it help to
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formulate effective marketing strategy for the business. An analysis of all 7 elements of
marketing mix for Indian Delights are as follows:
Product: Indian Delights is the new restaurant which is going to be launched in Oman
and it is very important for the organisation to offer good food items and services so that they
may get attracted toward the restaurant. If it is not able to provide good food items to its target
segment than Indian delights cannot survive there. Indian delights is going to offer Indian
starters, beverages, deserts and main course to the Indians who are living in Oman (Sonne,
2012).
Price: Price for the food items should be decided appropriately so that customers can
afford it. Indian Delights is going to implement penetration pricing strategy in which food items
will be offered on lower prices with high quality. This will help to set a good image in the minds
of customers.
Place: It is very important for the businesses to be easy accessible for the customers so
that they may reach to them easily. Location of Indian Delights is Mutrah Cornish – Opposite to
Sultan Qaboos Port, Oman which is easy to reach for the customers. This can help to establish
the business successfully as it is a good place where people can reach effortlessly.
Promotion: The customers get attracted through good promotional strategies as this help
to aware customers about the business and products that are offered by the organisation. Indian
Delights is going to use different types of promotional strategies in which it will offer discounts
to its customers, will provide complementary goods and also provide them coupons that can be
renewed on their next visit. All of the promotional activities will help establish good market
image.
Process: It refers to the method which is used to manufacture products. Indian Delights
will use traditional and Indian cooking methods to cook Indian food so that all the customers can
get good food for what they have selected the restaurant.
People: Indian Delights is hiring well educated and skilled employees for the restaurant
so that they may help to establish the business successfully. All the workers who have selected
by the restaurant have good skills and able to interact with visitors appropriately (Stodder and
Matters, 2016).
Physical evidence: It is mainly used in service industry as it is tough to market services.
Customers rely on the physical evidence like quality of services, good location etc. As Indian
5

Delights is offering good quality food with excellent customers services which will help it to be
successful in the market.
All the above mentioned elements are the part of marketing strategy that helps to set a
positive image in the minds of customers and also helps to achieve success.
OPERATION PLAN
Operation plan is the summary of all the components and actions that are going to be
used and taken in future to attain organisational goals. It is very important for Indian Delights to
formulate a operation plan so that all the activities can be performed appropriately (Stutely,
2012). There are two different types of operations plan that can be used by Indian Delights to
execute its business effectively in Oman. Both the types are as follows:
 Single use plan: As its name describes that it is used for single time and address only
current period related problems and tasks. In Indian Delights this can be used to for
restaurant's cuisine and menu, interior and location. All the things are not going to be
changed by the restaurant in short term if the changes are made than they will be made in
long term. Such types of plans requires high cost and mostly used for such things that are
not going to changed or modified by the firms or business in a short period.
 Ongoing plan: It is the plan that keeps going with the time and and carried forward by
the companies to future periods. Ongoing operation plan can be used by Indian Delights
for those things that are going to be changed in future by the restaurant. For example it
can be used to change the cooking methods that are used to cook food and changes can be
made accounting to perception of customers.
MANAGEMENT TEAM AND COMPANY STRUCTURE
Management team of the organisation is the vital part of an organisation as they are
required to formulate strategies for an organisation so that all the operations can be executed
appropriately. Indian Delight's management team is responsible to manage all the activities that
are performed by individuals of the restaurant. Members of the the team are owner, manager,
junior manager, HR manager, marketing manager, finance manager, staff members, chefs, cooks,
waiters and other employees of the organisation.
Company structure: It refers to the organisational structure in which departments of
organisation are formulated in a specific construction (Company structure, 2018). It varies
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according to the size of business entities. There are various types of company structure all of
them are as follows:
Functional structure: In this structure employees are divided according to their abilities
and specialities. It is very beneficial for the companies as it may help to formulate effective
decisions because it helps to establish an effective communication among employees and
managers (Ward, 2016).
Divisional structure: In this structure teams are formulated according to customer's
preferences and all of them are liable to meet the same. It allows to enhance the level of
autonomy among different teams or groups within the company.
Matrix structure: It is the combination of both the above mentioned structures and used
in large organisations. Under this construction employees can report to tow or more managers as
they have higher work load it can be tough for them as they have to report multiple persons.
Hybrid structure: This is also known as flatarchy structure which is mainly used by start
ups and small businesses. Under this type of construction communication barriers are removed
by the managers and all the employees can communicate with the freely.
From all the above mentioned company structures hybrid structure is going to be
followed by Indian Delights. This will help to make effective decisions and help to implement
than because employees and other staff members are free to communicate with the managers and
other concerned persons of the organisation.
RESOURCES
Resources are the major elements of an organisation that are required to operate business.
There are two major resources that are required by Indian Delights to execute its business in
Oman. Both of them are described below:
Material: It refers to the items that are required by Indian Delights to cook food. This is
going to be acquired by the restaurant from different suppliers who are supplying food to the
industry (Turner and Zolin, 2012).
Employees: As Indian Delights is a new restaurant going to be launched in Oman hence
it required human resource to operate business. Owner of the restaurant is going to select well
trained and educated staff members who can help to execute business effectively.
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FINANCIANG
Finance is the major requirement of a new business as it is not possible to operate
business without sufficient financial resources. Indian Delights can acquire finance for its
restaurant from various resources all of them are as follows:
Bank loan: Indian Delights can acquire finance from bank loan as it may help to operate
business. For this purpose the owner have to give some collateral to the bank so that it the owner
become insolvent in future than bank can recover the amount by selling the property.
Personal capital: Personal saving of the owner can be used as a financial resource for
the business. Owner can start business by investing money in business. It will help to be less
dependent upon external resources (Van Auken and Carraher, 2012).
FINANCIAL PROJECTIONS
Financial projections are the estimation of possible future expenses that may take place in
future or required to operate business. For Indian Delights financial projections are as follows:
Particulars Amount
Promotional activities 2000
Advertising 1000
Material cost 15000
Research and development 2500
Rent 1200
Total 21700
RISK AND STRATEGIC OPTIONS
There are various risks that may be faced by Indian Delights in future. These risks are
increased competition in the market and not get adopted by the customers. It is very important or
the restaurant to keep strategic options that may help to overcome all the risks. These options are
using appropriate methods for marketing so that all the customers get aware of the food which is
going to be offered by Indian Delights (Villamin, 2016). Another strategic option that can be
chosen by Indian delights is to be more attentive about the market conditions so that it may plan
for future period.
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KEY MILESTONES
9

CONCLUSION
From the above project report it has been concluded that it is very important for
individuals who are going to establish a new business to formulate the business plan in
appropriate manner. This will help to identify all the problems that may take place in future and
take immediate actions to deal the same effectively. Operational plan is made by managers of the
organisation as they are liable to keep an eye on every action which has taken or going to be
taken in future.
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REFERENCES
Books and Journals:
Benson, D., Jordan, A. and Huitema, D., 2012. Involving the public in catchment management:
an analysis of the scope for learning lessons from abroad. Environmental Policy and
Governance. 22(1). pp.42-54.
Bogers, M., Hadar, R. and Bilberg, A., 2016. Additive manufacturing for consumer-centric
business models: Implications for supply chains in consumer goods manufacturing.
Technological Forecasting and Social Change. 102. pp.225-239.
Campbell Jr, C. L. and Kresyman, S., 2015. Aligning Business and Education: 21st Century Skill
Preparation. e-Journal of Business Education and Scholarship of Teaching. 9(2). pp.13-
27.
Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for
business, government and civil society. Routledge.
Duval‐Couetil, N., 2013. Assessing the impact of entrepreneurship education programs:
Challenges and approaches. Journal of Small Business Management. 51(3). pp.394-409.
Joseph, N. and Benefield, N., 2012. A joint offender personality disorder pathway strategy: An
outline summary. Criminal Behaviour and Mental Health. 22(3). pp.210-217.
Lock, D., 2017. The essentials of project management. Routledge.
Sonne, L., 2012. Innovative initiatives supporting inclusive innovation in India: Social business
incubation and micro venture capital. Technological Forecasting and Social Change.
79(4). pp.638-647.
Stodder, D. and Matters, W. D. P., 2016. Improving Data Preparation for Business Analytics.
Transforming Data With Intelligence.
Stutely, R., 2012. The definitive business plan: the fast track to intelligent planning for
executives and entrepreneurs. Pearson UK.
Turner, R. and Zolin, R., 2012. Forecasting success on large projects: developing reliable scales
to predict multiple perspectives by multiple stakeholders over multiple time frames.
Project Management Journal. 43(5). pp.87-99.
Van Auken, H. and Carraher, S., 2012. An analysis of funding decisions for niche agricultural
products. Journal of Developmental Entrepreneurship. 17(02). p.1250012.
Villamin, J. M., 2016. Availment of funeral planning management service among Chinese and
Filipino: Preparation of a service development package for a funeral event business.
Journal of Business on Hospitality and Tourism. 2(1). pp.434-441.
Ward, J., 2016. Keeping the family business healthy: How to plan for continuing growth,
profitability, and family leadership. Springer.
Online
Company structure. 2018. [Online]. Available through:
<https://corporatefinanceinstitute.com/resources/knowledge/finance/corporate-structure/>
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APPENDIX
l Canvas
Key Partners
Customers,
investors and other
stakeholders are the
key partners of
Indian Delights.
Key supplier of
Indian Delights is
Assarain food
products limited
who is going to
supply items that
are required to cook
food.
Bank Loan have
been acquired by
key partners.
Partner's of the
organisation are
going to invest
money in the
organisation.
Key Activities
It is very
important for
Indian
Delights to
offer unique
products to
the customers.
Distribution
channel will
be the
restaurant
where
customers
may visit and
they may also
order food
online.
Value
Proposition
Good quality
of food and
impressive
services are
delivered to
the customers.
In Oman
Indian food is
not served by
restaurant
hence this
problem is
going to be
resolved by
Indian
Delights.
Indian food is
going to be
offered to the
Indian
population of
Oman.
Customer
Relationships
Customers are
willing to be a
part of such
restaurant who
can satisfy
their
requirement of
Indian food.
As good
quality Indian
food is going
to be offered
by Indian
Delights
hence it may
help to
establish
business
successfully.
The food is
going to be
offered on less
prices to
attract large
number of
customers.
Customer Segments
Indian Delight is
mainly focused
with the Indian
Population who is
living in Oman so
that they may get
their tradition food.
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Key Resources
The food
items and
employees are
the key
resources of
the
organisation.
Food is going
to be
distributed
through online
media and the
items that are
required to
cook food are
going to be
acquired from
different
suppliers.
Good relations
with
customers can
be established
by providing
them
economic
benefits.
Channels
Customers are
willing to
have food at
their home so
that if they are
not able to go
out to have
food they may
eat it at home.
Indian
Delights is
reaching to
the customers
by providing
them online
order services.
Delivery
channel of
Indian
Delights is
very attractive
and able to
facilitate
customers.
Cost Structure
Marketing and
Revenue
Streams
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advertising costs are
going to be faced by
the organisation.
Food items that are
bought for the foods
are very costly.
Advertising
activities are most
expensive for
Indian Delight.
Good quality
food is the
main
requirement of
customers
hence they are
willing to pay
for the food
quality.
Customers
will pay if
Indian
Delights will
offer them
such food
which is not
offered by any
other
restaurant in
Oman.
14