BAM101 Business Plan: Launching a Chinese Restaurant in Vancouver

This document presents a business plan for starting a traditional Chinese restaurant in Vancouver, Canada. The rationale behind this venture stems from the increasing popularity of Asian cuisine and the health-conscious shift among consumers. The plan identifies key competitors, emphasizing the importance of unique selling propositions and innovative promotional strategies, particularly through social media. The location at Vancouver's West Broadway is strategically chosen due to the significant Asian community and tourist traffic. The target market includes regular consumers of Asian dishes, identified through internet trends and search engine optimization. The plan highlights the necessity of a well-defined strategy, proper management, and a skilled team, including chefs and service staff. The importance of an authentic interior design and excellent customer service is emphasized. The document concludes with a commitment to ongoing analysis of competitors and a focus on maintaining unique selling points to ensure customer satisfaction and business success. This student-contributed assignment is available on Desklib, a platform offering a wealth of academic resources.

Running head: STARTING A NEW BUSINESS
STARTING A NEW BUSINESS
Name of the Student
Name of the University
Author Note

1STARTING A NEW BUSINESS
If I were to start a new business, I would open a traditional Chinese Restaurant. The
reason I selected this type business is that in Canada, the value of Asian food has increased a lot
over the past few years. Also, have most Chinese dishes have a very minimalistic recipe as they
are mainly boiled and spice less food, which is why it would be a cost saver to the business as
well. Also in Canada, raw materials for making Chinese food are relatively less than other
countries. The reason for selecting this business would be mainly because most Chinese dishes
are very healthy and nowadays people have became more attentive to their health as they are
switching over from fast food to healthy dishes. As a hardworking person my attribute towards
the business would be giving it the proper attention and support. When looking at the
competition, there are several Chinese restaurants located in Canada. Such businesses would
include Sawtow Resturant, Lai Wah Heen, Bao Bei and many more. These restaurants are over a
decade old and they control most of the customer base (Dees 2017). However, despite these
businesses control most of the customer base in Canada, I have noticed that these businesses
have a high price rate due to the fact they are running for a long time. Despite this, I will not opt
for a low price range as it may lead to a financial loss. The best strategy from my end would be
to create new and improved promotional method and unique selling propositions. It is in the
nature of human beings that they would look for the new and happening things. Even after using
a service for a while, people will always look for better alternatives (Fan and Khademi 2014).
The best way would be to understand the customer’s requirements and act accordingly, as a start-
up business it be best to use the means social media promotion first to let people know about the
business.
The best location for the business would be at Vancouver, West Broadway. The reason
why I have selected this location is because the Asian community in Vancouver is more than

2STARTING A NEW BUSINESS
500,000. Also as Vancouver is one of the most tourist attractive places in the world, it would
draw tourists towards the restaurants. As per study shows, there were more than 10 million
tourist visits in the year of 2017. This would state that the restaurant would normally get a lot of
customers and especially during tourist visits. When looking at the target market, it would be
best to look for customers who normally consume Asian dishes regularly. This can be done more
easily in today’s date and age due to the help of the internet. With the internet, we can easily
look up at what the people are searching for or what is actually trending (Burns 2016). With that,
we can look for the information of where people are actually looking for Chinese dishes. On top
of that, with the power of search engine optimization, I can set the relevant keywords in the
internet such as “Chinese restaurants in Vancouver” so if anyone where to search with that
information, they would be able to find my business name. This fast method of promotion is used
by most of the successful executives to increase their customer base. Even multinational
companies like Coca Cola or Apple uses the same technique for promotion. To start a new
business, the most important requirement is proper strategy. If I plan ahead that what kind of
resources I would need and how I would utilize them then the hardest part of the build-up is
covered (Fan, Lau and Zhao 2015). Proper management in the areas of financial matters,
customer service, communication and negotiation is also required. As the business owner, I can
also cook but having a business in an area like West Broadway would attach more than 100
customers in a span of 6 hours. Therefore it is important to vital to hire more chefs for the
restaurant. For the Chinese restaurant, around 10 chefs including myself would be enough. I also
plan on designing the interior more of an authentic way, like playing traditional Chinese flute
music in the background, having soft white lights and bamboo styled chair and table, and serving
the wishes in a wooden bowl. From the customers’ perspective, the look and appeal of a resultant

3STARTING A NEW BUSINESS
matter a lot. Even if the food is excellent, if the customer is not satisfied with the interior and the
appeal of the place then it is hard to retain that customer. However that does not mean that the
customer will keep on coming back if the food is not up to the mark and the interior is beautiful
(Gandy 2015). Both of the aspects should be perfect along with the behavior of the staff. The
customer always look for these 3 things when they visit a restaurant for the first time, one being
the hospitality of the staff, second being the food quality and third is the ambience. Other than
the cook, it is also important to have waiters who would serve the dishes, around 2-3 would be
enough. Also keeping a cashier at the front who will collect the payment from the customers is
needed. I firmly believe that this business would indeed be a success, and this is because so far,
the strategies that I have implanted are very organized and methodical. I will also keep a
detailed records of all the information related to the business that would involve financial
matters, raw materials and highlights of all the factors that the business will face, no matter if it
is a profit or a loss (Real, Roldán and Leal 2014). I have also kept a watch and I plan to keep on
analyzing my competitors because there is always room to improve. Also, has the business will
feature unique selling points like healthy dishes and with a proper ambience, it would keep the
customers satisfied. For any businessman, it is vital to be creative because the customers always
want the best serve, so giving them what they want and be successful from it is what every
businessman wants.

4STARTING A NEW BUSINESS
REFERENCES
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Dees, J.G., 2017. 1 The Meaning of Social Entrepreneurship. In Case Studies in Social
Entrepreneurship and Sustainability(pp. 34-42). Routledge.
Fan, M. and Khademi, M., 2014. Predicting a business star in yelp from its reviews text
alone. arXiv preprint arXiv:1401.0864.
Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data analytics for business intelligence
through the lens of marketing mix. Big Data Research, 2(1), pp.28-32.
Gandy, D.L., 2015. Small business strategies for company profitability and sustainability.
Real, J.C., Roldán, J.L. and Leal, A., 2014. From entrepreneurial orientation and learning
orientation to business performance: analysing the mediating role of organizational learning and
the moderating effects of organizational size. British Journal of Management, 25(2), pp.186-208.