New Business Idea for Boat Chain Restaurant

This report proposes a new and innovative business idea for Boat Chain Restaurant that combines seaside sight, peaceful beaches, and multi-cuisine food to provide a unique and amazing experience for tourists. It discusses the benefits, opportunities, risks, feasibility, organizational structure, finance sources, projected revenue, business model, and critical attainment elements of the new business.

Running head: REPORT 0
THINK BIG
MAY 4, 2019
STUDENT DETAILS:

REPORT 1
Contents
Introduction................................................................................................................................2
Customer or market Problem.....................................................................................................2
The new and innovative business idea.......................................................................................3
Benefits from new business idea................................................................................................4
Different and amazing experience.............................................................................................4
Increase profit.............................................................................................................................4
Opportunities related to business...............................................................................................5
Risks...........................................................................................................................................5
Feasibility...................................................................................................................................5
Organizational structure.........................................................................................................5
Finance sources......................................................................................................................6
Projected revenue...................................................................................................................6
Business Model..........................................................................................................................7
Critical attainment elements.......................................................................................................7
Conclusion..................................................................................................................................7
References..................................................................................................................................9
Appendix..................................................................................................................................11

REPORT 2
Introduction
This report states new business using the 9 components business model canvas along
with value proposition canvas for determination of complex components of success together
with competency model’s viability in Boat Chain Restaurant. In the following parts, the
opportunities of new marketplace will be assessed (Johnson, Christensen & Kagermann,
2008). This report proposes the idea not for the solution of particular issue, but for the
establishment of connections with customer in various manners for the innovative idea for
new business. This report also involves the explanation of the innovative idea to start new
business and the reasons for the selection of this new business idea. In this report, the
business model will be discussed.
Customer or market Problem
In Australia, tourism industry is leading and big industry. There are huge contribution
of this tourism sector in the economy of nation. At the time of discovering Australia, the
tourist search various things such as best food, grand beaches and deserts. It can see that there
are wonderful beaches and the seaside life in Australia. This is very essential for the tourism
industry to give additional services as well as advanced service to tourists of nation as
numerous tourists comes for holidays in Australia in a year. It is found that the travelers
search the calm and soothing atmosphere there. These are the factors, which attract them to
the seashore and nation. It can be beneficial and significant for the tourism industry to bring
together the tasty food and peaceful environment near beach to render the best and innovative
experiences to the tourists so that they can remember this country (Gibler, Manuel Casado-
Díaz, Angeles Casado-Díaz, Rodríguez &Taltavull, 2009).
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REPORT 3
New and innovative business idea
The enticing people are the simplest manner to attain consideration of different
tourists towards the royal culture or legacy and calm environment of Australia. An innovative
business idea for the task is a connection of the outstanding thoughts, the seaside sight and
wonderful peaceful beaches along with an experiences of enjoying multi-cuisine restaurant. A
concept of seaside sight and wonderful peaceful beaches together with an experiences of
multi-cuisine food is notified to Boat Chain Restaurants in which various amenities would be
rendered to the travelers.
In this way, the tourists will be able to sit in these restaurants and enjoy the boat ride.
They will also enjoy the amazing foodstuff at a similar period. This will be deliberated by
way of a multi-cuisine restaurant where pantry will be needed that will be away from the
seashore. Other amenities will also be available for the tourists, such as the tourists can give
orders at the stalls placed near the beach. They can also attain the amenities of the
combination of an innovative concept in the respective boat. There will be the amenity to
give the orders by phone that may connect to the counters at the seashore. Therefore, there
will be a place of two to three tables and eight to nine chairs in each boat. The proper name
for this creative concept will be “Food & view”. Though, the list of options will be restricted
about the creative thought. This is necessary for a businesses to provide specific
consideration to the cleanliness in the restaurants. It is also required to make sure that
wastage will not be disposed within or near the beaches. The major purpose of this creative
business concept is to receive a consideration of various people to the tasty food and sight of
beaches to give contribution in economy of nation. This will increase the opportunities
related to business for expanding the business in different locations as well and increase the
revenue of the new business (Johnson, Christensen, & Kagermann, 2008).

REPORT 4
Benefits from new business idea
The innovative business idea would generate the more profits for an organization and
the nation. The reason is that it is the unique idea in comparison of the normal restaurant. The
value proposition retains the great significance for the businesses. For the better
advancements, it is required to have more knowledge in relation to new trends and the
requirements of tourists. The advantages connected with an innovative business idea will be
discussed in following parts that will be useful to create the proper knowledge of this creative
business idea (Mitchell, Williamson & Chung, 2015).
Different and amazing experience
The new business idea would be useful to provide different experience to the travelers
in Australia, which may improve the interest of tourists to come again at this place. In the
addition of this, this may do works as profile-raising advertisements like word of mouth that
will enhance the revenue of the business prospective. The view of beaches and delicious food
would render the regular service to travelers; a new business will also improve flavor for the
foodstuff that will attract various people to the service.
Increase profit
New restaurants will enhance profits of food and tourism sector as a main purpose of
the study is to create productivity of this business and increase amenities for the travelers
through rendering them the wider ranges of facilities at same venue (Ruhanen, Whitford &
McLennan, 2015). The new business idea would be useful in drawing consideration of
traveler to new place with foodstuff facilities that will increase the profit for a business.
Opportunities related to business
This has been assessed that a business may enlarge in new places afterward achieving
the achievement in Australia. An innovative business idea is not relevant for food and

REPORT 5
beverage sector but also for a tourism sector. This has been assessed that the rates of tourist
are improved in Australia in the comparison of previous year. The new business idea would
not only draw the consideration of the tourists coming from different countries however, also
this draws the consideration of the residents of Australia (Rohrbeck, Konnertz&Knab, 2013).
Risks
It can see that there can be certain risks in this new business near to beaches. The
business may have certain negative influences. The natural disasters such as floods and
hurricanes can damage the setup of the ‘Food & View restaurant’. The physical harm to
customers is the biggest threat. There should be relevant and proper strategies to avoid these
risks associated with this new business (Hopp, et. al, 2018).
Feasibility
It can see that expression ‘feasibility’ explains the appropriateness and ability of the
business. It may be considered as operation plans evaluation norm. Through this business, it
will be possible to achieve the determined target as this is helpful in increasing the
effectiveness of the business. It is vibrant for the business to fix the accurate targets. For
ensuring the beach view and food, it is required to assess the customer and marketplaces
(Soh, 2018).
Organizational structure
Division Number of workers
Catering Department 15
Human resource 7
Chef and Waiters 12
Accounting department 3

REPORT 6
Selling department 5
Marketing department 4
Finance sources
The business doesn’t need enormous assumptions as this is significantly a service.
Though, the business will require the main outlay as below:
Particulars Projected expenditures (AUD)
Salary and hiring cost 40000
Infrastructure 40000
Maintenance cost 15000
Selling expenditures 10000
Marketing expenditures 9000
Office overheads 3000
Total expenditures 117000
Projected revenue
Year Expected Cost (AUD) projected Revenue
1 80000 >55000

REPORT 7
2 60000 > 80000
3 55000 > 95000
Business Model
The business model will be useful in explaining significance and values of the
customer. The business model says that customers are very significant for business. This is
essential for the business to have faith in a quality and proficiency (Wu, 2015). The value
proposition has key role in this business because customer’s satisfaction is very important for
the business. The business would adopt different promotional methods to get proper results.
Critical attainment elements
The corporation will get profit from new business as it is helpful in increasing
effectiveness. The business will take big changes in both industries that will enhance the
revenue. The main serious success element is enhanced number of travelers in Australia and
the mixture of this idea, which may explain significance of venues. Tourists would attain
what they want from venues in Australia. In case when people will get delicious food from
restaurant, there will always be another chance. Considering sight and foodstuff has five
boats and is working from 10.30 am to 8 pm every day (Jansen, 2017).
Conclusion
In conclusion, the business model has key role in starting up the innovative business.
The reason is that this is helpful in enhancing number of travelers in Australia. It will
enhance the possible development of new and innovative business. This study has stated
relevant information regarding the innovative business that is Food &View Restaurant.

REPORT 8

REPORT 9
References
Gibler, K. M., Manuel Casado-Díaz, J., Angeles Casado-Díaz, M., Rodríguez, V.,
&Taltavull, P. (2009). Late life second move housing choices of international retiree
migrants. International Journal of Housing Markets and Analysis, 2(2), 190-210.
Hopp, C., Greene, F. J., Honig, B., Karlsson, T., & Samuelsson, M. (2018). Revisiting the
influence of institutional forces on the written business plan: a replication
study. Management Review Quarterly, 68(4), 361-398.
Jansen, W. (2017). New business models for the knowledge economy. Routledge.
Johnson, M. W., Christensen, C. M., &Kagermann, H. (2008). Reinventing your business
model. Harvard Business Review, 86(12), 50.
Johnson, M. W., Christensen, C. M., & Kagermann, H. (2008). Reinventing your business
model. Harvard Business Review, 86(12), 50.
Mitchell, R. J., Williamson, A., & Chung, A. Z. (2015). Comparison of injuries experienced
by international tourists visiting Australia and Australian residents. Asia Pacific
Journal of Public Health, 27(2), NP1683-NP1694.
Rohrbeck, R., Konnertz, L., & Knab, S. (2013). Collaborative business modelling for
systemic and sustainability innovations. International Journal of Technology
Management 22, 63(1-2), 4-23.
Ruhanen, L., Whitford, M., & McLennan, C. L. (2015). Indigenous tourism in Australia:
Time for a reality check. Tourism Management, 48, 73-83.

REPORT 10
Soh, C., & Nam, S. (2018). Business and Human Rights Case Study of Korean Companies
Operating Overseas: Challenges and a New National Action Plan. Human Rights
Quarterly, 40(2), 287-316.
Wu, M. Y. (2015). Driving an unfamiliar vehicle in an unfamiliar country: Exploring Chinese
recreational vehicle tourists’ safety concerns and coping techniques in
Australia. Journal of Travel Research, 54(6), 801-813.

REPORT 11
Appendix
Key Partners Key activities Value
Proposition
Customer
relations
Customer
segments
 Hotel owners
 Technology
Partner
 Corporate
Travel
Managers
 Providing
good quality
of food
 Uniqueness in
food and
services
 Customer
experience
 Enhance
technology
 Freshly
cooked
 Multi-
cuisine
 Beautiful
dining
setup
 Customer
services
 Ease of
joining
 Tourists
 Reduction
of risks
 Market
intelligence
 customer
services
Key Resources Channels
 Human
resources
 Financial
 Advertisem
ent tools

REPORT 12
resources
 IT Tools
 Websites
Cost Structure Revenue Structure
 Sales and marketing
 Brand advertising
 Employees’ salaries
 Revenue from business