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A Business Plan for a New Venture Applying Principals of Entrepreneurship

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Added on  2020-01-07

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A business plan for a new venture applying principals of entrepreneurship EXECUTIVE SUMMARY3 BUSINESS GOALS5 MANAGEMENT PLAN 5 MARKET RESEARCH AND ANALYSIS6 MARKETING PLAN8 OPERATIONAL PLAN 11 FINANCIAL PLAN12 Action Plan 17 References 18 EXECUTIVE SUMMARY Entrepreneurship is a self-dependent approach of individuals to set up their own business ahead of the streamline functioning like providing services in a company or assisting in some other business. The services which will be provided in this restaurant include entertainment, a dance floor

A Business Plan for a New Venture Applying Principals of Entrepreneurship

   Added on 2020-01-07

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A business plan for a new venture applyingprincipals of entrepreneurship
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TABLE OF CONTENTSEXECUTIVE SUMMARY ............................................................................................................3BUSINESS GOALS .......................................................................................................................5MANAGEMENT PLAN ................................................................................................................5MARKET RESEARCH AND ANALYSIS ...................................................................................6MARKETING PLAN .....................................................................................................................8OPERATIONAL PLAN ...............................................................................................................11FINANCIAL PLAN ......................................................................................................................12Action Plan.....................................................................................................................................17References......................................................................................................................................182
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EXECUTIVE SUMMARY Entrepreneurship is a self-dependent approach of individuals to set up their own business ahead of the streamlinefunctioning like providing services in a company or assisting in some other business. The basic purpose behind entrepreneurialventure is to develop certain tactics which will help in overcoming certain needs and demands of the society or potentialcustomer. The Royal Chauffeur is one such entrepreneurial venture which aims to provide delicious food with exclusive servicesto customers without affecting their pockets. People nowadays are aiming to get good quality products and services withoutpaying huge amounts. The services which will be provided in this restaurant include entertainment, a dance floor apart from theeating area and a band performance every weekend. Delicious food when provided with great entertainment and music becomes much more relaxing and refreshing. Themain aim or vision behind this restaurant is to never let any customer's expectations and satisfaction level down. Before makingany decision or strategic implementation, it is important to assess the requirements and analyse the current market situations.There has to be development of goals, certain plans and proper administration so that correct implementation takes place. Thesesteps help in reducing the risk or probability of failure for the organisation and bring in more effectiveness in the entrepreneurialdecisions. Hence, a business plan has been developed for gaining these attributes and advantages. 3
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BUSINESS GOALS Entrepreneur make a decision for opening a restaurant which named as The Royal Chauffeur. Therefore, goal of TheRoyal Chauffeur, business entity to offer huge variety of foods to there customers such as Mexican, Chinese, Italian, Indian andContinental. In addition to this, The services which will be provided in this restaurant include entertainment, a dance floor apartfrom the eating area and a band performance every weekend. Further, from the investigation it has been found that there aremany small restaurant who arrange entertainment facility for those customer who pay for it such as musical show (Bryman andBell, 2015.). In accordance to this the entrepreneurship has decided for the entertainment dance floor and a band performanceevery weekend will be organized without charging extra amount from customers. This Unique concept will assist business entityin making the ambiance of the profitable. Goals and objectives of the businessThe main goal of The Royal Chauffeur is to provide high quality services to its customer, in order to attract largenumber of customer (Saunders, 2011). In addition to this free entertainment facility is organized by restaurant at free of costwhich lead to enhance the satisfaction level of customers. The foremost priority of The Royal Chauffeur is to provide excellent services to its targeted customer and surroundingcommunity by establishing a flourishing, impulsive social enterprise. Goals and Objectives includesCreating an attractive diverse menuOffering nutrient, fairly priced and diverse food optionsDelivering high quality customer services that create strong relationship.Providing an entertainment facility such as dance floor and band performance every weekend at free of cost. 5
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MANAGEMENT PLAN A management plan is a written strategy for the way to get restaurant where it want. There is some benefit ofmanagement plan that is it help in guide the way for achieving goal. Further it allow everyone within a business to clearly seetheir place which include the way to report and to whom to report. At The Royal Chauffeur highly skilled employees are hiredin order to provide high quality services to customer. The management plan consist of the following elementsOwnership: Owner is mainly accountable for the day to day operations of the business finance. Further owner of anorganization make decision and also responsible for the general direction of the business. Further it take on an active rolein the restaurant operations. General manager: The general manager plan significant role in order to carry out day to day operations. They areresponsible for hiring new staff and provide them training and development facility (Osterwalder and Pigneur, 2010).Further it ensure that The Royal Chauffeur restaurant is maintained in proper operating condition and all things runsmoothly. Front of house: Front of house works at operational level and and there duties fall into two area that is back of houseand front of house. Further, they are accountable for the restaurant dining area, and it set up services, and interact withkitchen staff on customer waiting. Executive chef: The executive chef is a person who is accountable for back of house operations. Further it includeshiring kitchen staff and create menu list. Further they purchase food and assist in determine the price accountable shouldplace for its meal. Along with this it also report to the general manager of all its purchase items.6
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