The Cape Town Restaurant Entrepreneurship

Running Head: Entrepreneurship
THE CAPE TOWN RESTAURANT
Entrepreneurship

Entrepreneurship 1
Table of Contents
Introduction......................................................................................................................................2
Description of the company.............................................................................................................2
Description of industry....................................................................................................................4
Competitive Analysis...................................................................................................................4
Identification of key success factors............................................................................................6
SWOT analysis................................................................................................................................7
Strengths.......................................................................................................................................7
Weaknesses..................................................................................................................................8
Opportunities................................................................................................................................8
Threats..........................................................................................................................................8
Identification and evaluation of potential growth strategies............................................................9
Market penetration.......................................................................................................................9
Market Expansion........................................................................................................................9
Product Expansion.....................................................................................................................10
Diversification............................................................................................................................10
Acquisition.................................................................................................................................10
Business plan.................................................................................................................................11
Conclusion.....................................................................................................................................13

Entrepreneurship 2
References......................................................................................................................................14

Entrepreneurship 3
Introduction
Entrepreneurship is a form of business entity. It is a process which is launched and developed for
executing a new business venture. Generally, entrepreneurship firm starts as a small venture and
later on it converts into big organizations. The person who operates the entrepreneurship firm is
known as the entrepreneur. This report will include various aspects of the strategic plan for the
new business enterprise i.e. The Cape Town Restaurant. For the same purpose, entrepreneur of
the restaurant has decided to develop a strategic cum business plan with the view to set up an
effective image in the target market. The business plan of the firm will include several sets of
strategies in order to attain the desired goals of the organization in an effective manner.
Major points which will be covered in this report are mission and vision of the organization
through which it their aims will be defined clearly. Further, SWOT analysis, competitive
analysis, KPIs and the like strategies will be discussed in this report. Organization and the
potential growth strategies will also be evaluated in this report in order to increase the
opportunities for the organization so that the motive of establishing the restaurant in Cape Town
could be acquired appropriately. The last phase of the report will include other aspects of the
business plan which will help the management and the entrepreneur of the restaurant to convert
their idea into reality.
Description of the company
The purpose of establishing The Cape Town Restaurant is for providing delicious and quality
dishes to the nationals of the target market. The specialty of this restaurant is that they serve
numerous food dishes which are famous across the globe. Their menu range includes Asian,

Entrepreneurship 4
continental, Chinese and other famous food dishes. This will help the organization to attract the
target audience along with accomplishing their goals. This is a new venture, thus, the
management needs to adopt certain effective set of strategies which could be able to set up the
restaurant effectively along with developing a strong position in the target market. Cape Town
has been chosen as the target market by analysing the advantages of this location. In order to
attain the organizational goals, management of the restaurant has decided to set up their outlet at
the beach end in order to provide the target audience a beautiful view experience along with the
sundry choices of food dishes from all over the globe.
Apart from providing delicious dishes to its target audience, organization also serves various
beverages with the view to increase the customer satisfaction. In order to set up an effective
position in the target market, it is essential to analyse the market conditions along with
determining the internal and external environmental factors which plays crucial role while
developing the strategies for the organization. The primary mission of the ‘The Cape Town
Restaurant’ is providing authentic seafood and other delicious dishes with excellent customer
service. In order to attain this mission, organization has adopted the market research activity
which is essential for determining the needs of the target audience. The restaurant industry is
customer-centric industry because consumers play crucial role in the success and failure of the
entity. Thus, adaptation of the customer-centric approach is quite effective and it will extract
desired outcomes for the restaurant which will be opened at the beach end in Cape Town (Abidi,
et. al., 2015). Management has developed several long term objectives for the success of the
organization in the target market:

Entrepreneurship 5
 Increasing sales: Management's initial long term objective in relation to the ‘The Cape
Town Restaurant' is to attain minimum revenues of 6 lac South African Rands in the first
six months of its establishment. Apart from this, a 25% hike is expected in the next three
years of establishment of the restaurant which will help the organization to attain its
desired goals and the objectives (Armelini & Armelini, 2011).
 Competitive advantage: Apart from increasing the sales and the profitability,
management has also made certain other long terms objectives which are essential for
ascertaining the growth of the organization. With the help of unique business idea of
‘The Cape Town Restaurant’, it is expected that it will increase its customer base and the
opportunity of acquiring the competitive advantage in the first few months in comparison
with the existing restaurants (Armstrong, et. al., 2015).
 Market share: As per the unique idea of the restaurant, management is expecting to
cover at least 50% of the market share of the target market in order to attain the success
and growth related objectives. Acquiring the market share of the target market is also
required for attaining the objective of long term survival in the market. Attaining short
term objectives are necessary for setting up the effective image but long term objectives
should also be attained with the view to attain the sustainable growth in the market
(Baker, 2014).
 Brand image: After developing the position in the target market along with acquiring
certain share of the market, it is required to develop a brand image so as to increase the
value of the organization. The brand image helps the organization to increase its
customer base and it also helps to make a unique position in the industry which will help
to gain a sum of extra profits. To retain the brand image of the organization, various

Entrepreneurship 6
strategies need to be adopted in relation to the technological improvements, increasing
customer satisfaction and the like. ‘The Cape Town Restaurant’ needs to adopt the
change management in their workplace with the objective to gain desired outcomes
(Bayne, Schepis & Purchase, 2017).
 Employee and customer relations: This is another crucial long term objective for the
restaurant industry in order to survive for a long period of time. Employee relations are
necessary so as to maintain the same level of quality and to serve the customer in an
appropriate manner. Along with this, the customer relationship is another important
objective so as to attain the sustainable growth in the target market. As restaurant and
food industry is implementing the customer-centric approach, thus, till the time,
customer satisfaction will not be enhanced; organization will not be able to develop
appropriate position in their perception (Bienkowski, et. al., 2010).
 Change management: To build the good reputation in the industry along with gaining
desired outcomes for a long period of time, management of the restaurant needs to adopt
the change management in their workplace with the objective to progress as per the
dynamic business requirements. Adopting change is a vital element which leads to
enhancing the organizational performance so as to attain the desired outcomes along with
meeting with the target audience’s needs (Boutabba, 2014).
Description of industry
Restaurants are mainly known for serving prepared foods on the table and for this they are also
known as the retailers of prepared foods. Rivalry in the restaurant industry is intense same as in
the case of retail stores' industry. In order to attain the competitive advantage, every restaurant

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modifies its range of menu along with determining the factors involved in the external business
environment so that appropriate strategies could be developed to match up with those
requirements. There are numerous factors which influence the competition amongst the
restaurant companies. These factors are interior designating, location of the restaurant, food
served, quality of the food, range of menu offered by them and the most important is the price
charged by the restraints against their services. The Cape Town Restaurant has included all these
factors in order to make a separate position in the restaurant industry of Cape Town (Bryman &
Bell, 2015). With its unique idea of serving delicious dishes along with excellent customer
service and with the exotic location of their outlet, organization will easily be able to mark a
distinctive marketplace in the industry. Apart from this, there are sundry factors which affect the
organizational performance such competition, external marketing conditions and the like (Wu &
Chen, 2014).
Competitive Analysis
It is a critical part which evaluates the strategies used by the competitors to produce the products
and services. With the help of this evaluation, an organization could easily develop more
effective and dynamic strategies through which competitive advantage could be attained along
with differentiating their products and services with the competitors’. In the competitive analysis,
primary competitors are being evaluated for the organization and their strengths and weaknesses
are measured to estimate their position in the industry. Along with the strengths and weaknesses
of the competitors, opportunities and threats are also identified with the help of this analysis.
Outcomes originated form this evaluation; organization would be able to design their strategies