Small Business Plan

Running head: SMALL BUSINESS PLAN
Small business plan
Name of the Student
Name of the University
Authors note

1
SMALL BUSINESS PLAN
Table of Contents
Answer to question 1......................................................................................................2
Answer to question 2......................................................................................................3
Answer to question 3......................................................................................................5
References:.....................................................................................................................7

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SMALL BUSINESS PLAN
Answer to question 1
Franks all American barbeque a famous restaurant at south England has become the
pioneer of good food products for nearly 20 years sand dealing with the good customer
satisfaction for the products. However the company is now thinking of increasing the
business and opting to open a new restaurant England. However the takeout business opted
by the company was very much old school type where the customers directly visit the
restaurant and order the food from the menu card. However the company is trying to
improve the ordering strategy where they are thinking for improving the ordering process
where the customers will be ordering the food in the company website. Apart from this the
company management is also thinking to offer combo meals to the customer which is cheap
and quality. Thus in order improve the process the company have identified the pricing
objectives and pricing strategy of the restaurant.
Pricing objectives: it refers to following the company objectives and to check on whether the
company forward in establishing the pricing strategy. However the different small business
have different pricing strategy which includes the in house capabilities, profit sales etc.
Sales based objectives: franks all barbeque could try to increase the sales volume and
relative market share to improve penetration pricing at the competitors expense and price
raising of the meal product to win over the competitors (Buchel and Frantzeskaki 2015).
Profit maximization objectives: the company could also try to increase the profit by
improving market skimming where they provide better quality products in high price than the
competitors. Apart from this the company could also increase the target market to provide
improve the business.
Pricing strategy : the company could also include the different new schemes for
improvement of pricing like discount based pricing , cost based pricing , prestige pricing and