University Business Plan: Applied Challenge for Tiffin Services

This assignment presents a comprehensive business plan for Tiffin Services, a food service business aimed at providing homemade-style meals to international students in Australia. The plan covers various aspects, including an executive summary, business details (structure, location, ownership), personnel information, market analysis, and a detailed financial forecast. The business aims to offer Indian and Nepalese cuisine, targeting students with busy schedules. The plan includes marketing strategies, operational details, and a sustainability plan. Financial projections include start-up costs, balance sheet forecasts, profit and loss statements, and break-even analysis. Appendices provide stakeholder analysis and additional supporting information. The vision is to become a successful international fast-food restaurant, focusing on quality, profitability, and corporate social responsibility.

Applied business challenge 1
Tiffin services
By [Name]
Name of the school/Course
Professor’s Name
Name of the university
Name of the city/ state of location
Date

Applied business challenge 2
Executive summary
The paper describes how Tiffin business is going to be conducted within Australia. It
describes the different features of the Business plan for Tiffin. These features are
categorized under: The Business, Personnel Information, Innovation, Insurance,
Sustainability Plan, Customers, and the Future. To be in a position of establishing and
running the business without complications, members of the team, the entire start-up
capital amounting to $100,000. The company’s business name is Tiffin services. The
company will essentially be a food service oriented. It will be involved in the provision of
food to people that have very busy schedules and cannot therefore find enough time to
cook. The company will also look to serve those people who miss homemade food. The
company intends to open a kitchen that can trade for a period of 7 days a week while also
serving three meals a day. Tiffin services will be run as a privately held company. It shall be
incorporated as a company limited by share capital. The company’s the registered
Australian business number is ABN 51 824 753 556. Its registered Australian company
number is ACN 000 000 019, 007 249 989, 005 749 986. The business’s main address will be
the Australia Square, 265, level 48, Sydney, and NSW 20000, Australia. Tiffin services will
range from 80 – 100 meter square in terms of size and will therefore be able to seat from 25
– 50 guests at a time. The business was incorporated on 1st of May 2019 and will officially
commence its operations on 1st July 2019. The business will be owned Guy by 6 people on
the basis of share capital. They will include Akshita Sharma, 20%, Niraj Tamarkar, 20%,
Anurag Raut, 20%, Saksham Pratap Khan, 20%, Navreet Kaur 4597374, 10%, Navjot Singh
4597356, 10. The sales are assumed to increase by 40% in the second year and 50% in the
third year. Rent is expected to increase by 20% for the second and third years. Wages are
presumed to grow by 10% in both the second and third years. The vision of the company is
to be the biggest and most successful international fast food restaurant in Australia. The
major objective of the company is to increase our Eat-well tiffin services reputation while
also letting people know about the food sold and how very delicious it is as your own home-
made food.

Applied business challenge 3
Table of Contents
Executive summary...........................................................................................................................2
Introduction......................................................................................................................................6
The Business......................................................................................................................................6
Business owner(s):............................................................................................................................6
Relevant owner experience:.............................................................................................................6
The Market........................................................................................................................................6
The Future:........................................................................................................................................6
Goals/Objectives:..............................................................................................................................7
The Finance:......................................................................................................................................7
The Business......................................................................................................................................7
Business details:................................................................................................................................7
Registration details:..........................................................................................................................7
Business location..............................................................................................................................7
Organization chart............................................................................................................................8
Management & Ownership..............................................................................................................8
Names of owners:.............................................................................................................................8
Details of ownership:........................................................................................................................8
Relevant owner experience..............................................................................................................8
Personnel Information......................................................................................................................9
Current staff......................................................................................................................................9
Required staff..................................................................................................................................10
Recruitment options.......................................................................................................................10
Training programs...........................................................................................................................10
Skill retention strategies.................................................................................................................10
Products/services:..........................................................................................................................11
Target Market.................................................................................................................................11
Unique selling position:..................................................................................................................11
Anticipated demand:......................................................................................................................11
Pricing strategy:..............................................................................................................................12
Value to customer:..........................................................................................................................12
Potential growth of the company:..................................................................................................12
Innovation.......................................................................................................................................12
Research & development (R&D) or innovation activities..............................................................12
Intellectual property strategy.........................................................................................................12
Insurance.........................................................................................................................................12

Applied business challenge 4
Risk management...........................................................................................................................12
Legal considerations.......................................................................................................................12
Operations......................................................................................................................................13
Production Process.........................................................................................................................13
Plant & Equipment..........................................................................................................................13
Technology......................................................................................................................................13
Trading hours..................................................................................................................................13
Communication channels...............................................................................................................13
Payment methods acceptable........................................................................................................13
Credit policy....................................................................................................................................14
Warranties and refunds..................................................................................................................14
Quality control................................................................................................................................14
Memberships & affiliations............................................................................................................14
Sustainability Plan...........................................................................................................................14
Resource/Environmental impacts..................................................................................................14
Community engagement & impact.................................................................................................14
Constraints/risks.............................................................................................................................14
Strategies........................................................................................................................................14
Customers.......................................................................................................................................14
Customer demographics.................................................................................................................14
Customer management..................................................................................................................14
Industry analysis.............................................................................................................................15
SWOT...............................................................................................................................................15
The Future.......................................................................................................................................15
Vision statement.............................................................................................................................15
Goals/objectives:............................................................................................................................15
Project plan.....................................................................................................................................16
THE FINANCES.................................................................................................................................16
Key objectives and financial review...............................................................................................16
Finance required.............................................................................................................................16
Financial assumptions.....................................................................................................................16
Start-up costs for year one.............................................................................................................17
BALANCE SHEET FORECAST.............................................................................................................18
Profit and loss forecast...................................................................................................................19
Cash flow statement............................................................................................................................20
Break-even analysis........................................................................................................................21

Applied business challenge 5
References.......................................................................................................................................22
Appendix B. Stakeholder Analysis..................................................................................................24
Appendix C......................................................................................................................................25

Applied business challenge 6
Introduction
The major purpose for our business is to provide to provide homemade foods to
international students from Nepal and India at very reasonable prices.
The Business
Business name: Eat well Tiffin services
Business structure: Partnership Business
ABN: 51 824 753 556.
ACN: 000 000 019, 007 249 989, 005 749 986
Business location: Australia Square, 265, level 48, Sydney, and NSW 20000, Australia
Date established: 1st of May 2019
Business owner(s):
Akshita Sharma
Niraj Tamarkar
Anurag Raut
Saksham Pratap Khan
Navreet Kaur
Navjot Singh
Relevant owner experience:
Four group members do have some experience working in food industry, one
working as a chef in an Indian restaurant and other three working as waiter, kitchen hand
and junior chef. One member has all the required managerial skills working as a manager in
a petrol station. Most of the members have small family businesses in home countries which
is also beneficial. All the shareholders are under graduate students pursuing bachelor’s
degree in various management fields (Ortega-Argiles, 2011).
Products/services: Hospitality Business
The Market
Target market: International students from India and Nepal
Marketing strategy: Advertising food through using Indian and Nepal Facebook Pages, share
the food on Instagram, use twitter and google radio. The business through the strategy is
aiming to make 200 new customers in every week.
The Future:
Vision statement: The vision of the company is to be the biggest and most successful
international fast food restaurant in Australia.

Applied business challenge 7
Goals/Objectives:
1. The business also has the objective of making the business as profitable as possible
through improving its popularity within Australia.
2. The company also has an objective of increasing every sale month by 10%. To
achieve it we must focus on our quality of our food.
3. The company also aims at being promoting corporate social responsibility through
engaging into practices which protect the surrounding environment.
The Finance:
The Business
Business details:
Product/services: The Company will essentially be a food service oriented. It will be
involved in the provision of food to people that have very busy schedules and cannot
therefore find enough time to cook. The company will also look to serve those people who
miss homemade food. The company intends to open a kitchen that can trade for a period of
five days a week including Mondays, Tuesdays, Wednesdays, Thursdays and Fridays while
also serving three meals a day.
Registration details:
Business name: Eat well Tiffin services
Business structure: Partnership Business
ABN: 51 824 753 556.
ACN: 000 000 019, 007 249 989, 005 749 986
Business location: Australia Square, 265, level 48, Sydney, and NSW 20000, Australia
Date established: 1st of May 2019
Business name: Eat well Tiffin services
Trading name(s): Eat well Tiffin services
Date registered: 1st of May 2019
Location(s) registered: Australia Square, 265, level 48, Sydney, and NSW 20000, Australia
Domain name: www.Tiffin services. Com
Buy/lease: We will rent space from nearby estate in Parramatta, Sydney where the business
is to be located.
Business location
The business’s main address will be the Australia Square, 265, level 48, Sydney, and NSW
20000, Australia. Tiffin services will range from 80 – 100 meter square in terms of size and
will therefore be able to seat from 25 – 50 guests at a time. The location will include its own

Applied business challenge 8
originality in terms of merchandise display as well as other brand construction attributes.
Management intends to equip the outlet with modern furniture while also aiming for an
open, clean and warm feeling. The selection of the site has been based on several factors
such as the size of the community. It was considered that the community should have a
minimum of 800,000 people and these should be within a radius of 8 kilometres. It should
also be a destination for tourists, the site also had to be easily accessed and finally a large
community of the potential customers are youthful people. All the above qualities are
consistent with the business’s goal of ensuring the provision of a top quality fast food
atmosphere. The business intends to use word for mouth as its best form of marketing
(Murphy, 2011). The intention is for the business customers to value the business brand as
something exciting which they will always be eager to share with their neighbours and
friends (ABC Radio National, 2015).
Organization chart
Figure 1: Example of organization chart:
Management & Ownership
Names of owners:
Akshita Sharma, Niraj Tamarkar, Anurag Raut, Saksham Pratap Khan, Navreet Kaur, Navjot
Singh
Details of ownership:
Tiffin services will be run as a privately held company. It shall be incorporated as a company
limited by share capital. The ownership will include Akshita Sharma, 20%, Niraj Tamarkar,
20%, Anurag Raut, 20%, Saksham Pratap Khan, 20%, Navreet Kaur 4597374, 10%, Navjot
Singh 4597356, 10%.
Relevant owner experience
Four group members do have some experience working in food industry, one working as a
chef in an Indian restaurant and other three working as waiter, kitchen hand and junior
chef. One member has all the required managerial skills working as a manager in a petrol
station. Most of the members have small family businesses in home countries which is also

Applied business challenge 9
beneficial. All the shareholders are under graduate students pursuing bachelor’s degree in
various management fields (Ortega-Argiles, 2011).
Personnel Information
Current staff
Job Title Name Expected staff
turnover
Skills & Experience
General Manager Akshita Sharma 20-26 months Extra-ordinary
interpersonal,
communication, and
problem solving skills.
Assistant manager Niraj Tamarkar 17-20 months Good motivator, time
conscious, love
working.
Marketing Manager
Anurag Raut
20 – 24 months Good in
communication, fluent
in Hindu, English,
French, and other
additional languages.
Has good
interpersonal
relationship
Information technology
manager
Saksham Pratap
Khan
18 -24 months Skills in IT
infrastructure,
software
developments
Human resource manager Navreet Kaur 20 – 26 months Good interpersonal
relationship.
Procurement manager Navjot Singh 18 – 24 months Skills in financial
assessments.
Required staff
Job Title Quantity Expected staff Skills necessary Date required

Applied business challenge 10
turnover
Chef 4 1-3 years Knowledge in
cookery of Indian
foods and Nepal
foods with relevant
papers (certificate
minimum).
At least little
knowledge in Hindu
29/05/2019
Waiter 4 2 years minimum Fluent in English and
Hindu
29/05/2019
Kitchen-hand 3 3-12 months Must be hardworking 29/05/2019
Cleaners 2 3-7months Must be hardworking 29/15/2019
Recruitment options
When the capital for the company increases, the company will expand its services to other
places. There will be need for recruiting more workers. The different recruitment methods
used will be:
 Use of social media platforms through making advertisements on WhatsApp,
Facebook, LinkedIn, and others
 Use of employee referrals.
 Use of recruitment agencies that deal in sales and food production.
 Use of internal applications so as to make recruitments
Training programs
The company will be responsible for training its workers. It will equip with both hard and
soft skills. Soft skills consists of skills which include entrepreneurship, management,
communication, and etcetera. Hard skills refers to skills related to hands-on. Both of these
skills are crucial for the smooth running of an enterprise (Australian Bureau of Statistics,
2009). All entrants in the organization will be equipped with these skills.
Skill retention strategies
The organization will benefit a lot from its skill training programs. The employees who will
also participate in those programs will also as well benefit (Richardson et al 2009).
Employees who will take part in the skill training sessions will be suitable for the salary
increase plans as well as able to obtain new job positions within the company (Crespi &
Antonelli, 2011). Inorder for the employee to acquire a new job position in the organization,
he/she would meet the following training conditions
 The employee would at least have a 92% minimum attendance rate.

Applied business challenge 11
 All the assessments would accomplished fully by the employee successfully and
within the required time period.
Products/services:
The business intends to focus on selling fries. The business will not involve its self in the
selling of Alcoholic drinks within its outlets given that it promotes a healthy and positive
Indian lifestyle. The business will instead focus on the provision of Italian Soda as a
complement for the fries. For the purpose of promoting, Fresin Fries way of life, the
business intends to offer its merchandise marked with its colours and business logo. These
will include hats, potato cutters, t-shirts as well as the business’s signature sauces. The
business also intends to incorporate home delivery services. The fact the company will be
offering exclusively differentiated services and unique products, we anticipate a huge
demand for our products (Bjerke and Renger, 2017). We anticipate to have 30% of the
market share within our community within the first year of operations.
Target Market
The business will majorly be targeting international students as well as busy corporate
people that miss homemade Nepalese and Indian food (Dingwall & McDonnell, 2015). Our
products would be chosen by international students over others because of the exquisite
atmosphere we intend to create (Paul & Colin, 2009). In addition, the business will create an
environment of love where they can feel at home. Moreover, the homemade foods will be
provided at reasonably cheaper prices compared to others restaurants. For the busy
corporate groups who do not have time to engage in cooking at home, we intend to provide
them with some of the most efficient food delivery services with unrivalled quality. This
business’s biggest target are the international students hailing from Nepal and India (Osita
et al. 2014). The business intends to deliver to them at their homes while also charging
comparatively cheaper prices.
Unique selling position:
The company will have limited competitors within the market. Therefore, there is a
possibility of the company to make profits. The company will base mainly on students who
lack time to do the cooking
Anticipated demand:
The demand of the products and services offered by the company will be highly
demanded. This is because of the increasing number of foreigners within Australia.
Pricing strategy:
The price strategy used will be price skimming strategy. Price skimming means that
prices are high but there matching the value and quality of services or products offered
(Drake 2009).
Value to customer:
The offered product is valuable to the customers because it would help them save
time and energy.

Applied business challenge 12
Potential growth of the company:
There is an expectation of growth of the company. That is because the company
would be offering goods needed and unique to customers.
Innovation
Research & development (R&D) or innovation activities
In order to have development, the company need to carryout research in different areas of
business (Worsley et al. 2013). The company has to research about market potential; it also
has to make the research about the cost of services and products in order to be in position
of coming up with profits.
Intellectual property strategy
The company will protect its innovations and ideas by registering with IP Australia. The
company currently seeks for confidential agreements. Use of trademarks and copyrights
would be very crucial since it avoid services provided by the company to be duplicated.
Insurance
Risk management
The company would offer two types of insurance; Workers compensation and Public
liability Insurance. Workers compensation looks at protecting different workers from the
outcomes which are unexpected or uncertain. Among these outcomes or risks are accidents
at workplaces. The insurance will be undertaken using the AHM Heath insurance company
(Wena & Chen 2011). The other Insurance type undertaken by the company is the third-
party insurance which is meant to cover all equipment used by the company.
Legal considerations
The services to be offered by the country will be monitored by Food Safety Standards
(Ghosh 2014). The reason for monitoring the company is to ensure that the services
provided by the company are standard and will not cause any harm to the public (Elizabeth
2008). Food Safety standards only operate in Australia. The following legal considerations
would make an impact on the day running of the business. They are listed below:
1. Food Act 2006
2. Work Health and Safety Act 2011
3. Local Government 2009
4. Fire and Rescue Service Act 1990
5. Sales of Goods Act 1896
6. Water Supply (Safety and Reliability) Act 2008
7. Retail Shop Leases Act 1994