Business Essentials Portfolio: Introduction for Food Retail

This portfolio assignment presents a detailed business plan for a new restaurant, 'Rendezvous Asia Continental,' specializing in Asian and continental cuisine in the UK. The introduction highlights the need for such a restaurant to cater to the diverse population and provide a taste of home for Asian migrants. Task 1 outlines the business idea, location, target market, and competitive analysis, emphasizing the importance of quality, pricing, and a homely environment. The business objectives include becoming a premier cuisine outlet, delivering authentic food, and promoting Asian cuisine. The assignment also explores the advantages of sole proprietorship. Task 2 utilizes PESTLE analysis to assess the macro-environment, considering political, economic, social, technological, environmental, and legal factors influencing the restaurant. Task 3 details the launch event, including its location, entertainment, event identifiers, food and beverage offerings, and menu choices. The launch event is designed to attract customers and introduce the restaurant's offerings. The portfolio emphasizes innovative ideas, customer satisfaction, and effective business strategies to ensure success in a competitive market. The restaurant aims to provide a unique dining experience by focusing on authentic flavors, a welcoming atmosphere, and modern technology for online ordering and promotion.

PORTFOLIO TASK: BUSINESS ESSENTIAL: INTRODUCTION

Table of contents
Introduction...................................................................................................................... 3
Task 1.............................................................................................................................. 3
Task 2.............................................................................................................................. 6
Task 3.............................................................................................................................. 8
Task 4............................................................................................................................ 14
Conclusion..................................................................................................................... 15
References.....................................................................................................................16
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Introduction
Establishing a new business requires various essential factors. For this, business
essential portfolio is supposed to address on a food retail to reduce the hunger of
continental and regional appetite.
Task 1
Part A
The business idea is to establish a regional and continental restaurant with specializing
majorly on the Asian foods in the heart of United Kingdom. There are many migrants
from different parts of the world. Asian people also gather the United Kingdom for
various purpose and stay for longer time. They lack experiencing the regional foods and
hence this restaurant would provide them with most delicious regional as well as
continental appetite that would provide them with most enjoyment. The restaurant is
committed to provide 100 seats and domestic environment. Here the people of Asia as
and other location can visit and enjoy the taste of Asian foods and continental foods as
well. This business would be family owned and dedicated over serving foods with most
delicacy. The restaurant business is supposed to reside at Burdett road, Limehouse,
UK. The establishment of the restaurant requires around 3000 sq. ft. of ground space
with home like ambience. There would be decorated traditional dining table surrounded
with teak wood chairs and comfortable cushions. Further, the business management
proposes to appoint mini vans to scroll all through the major areas where people may
fulfill their desire to taste the delicious appetite from Asia and other continents. There
would be proposal of delivering foods through online orders by website service. People
can sit at their home, order from the listed food items, and have different payment
options. This will hopefully increase the customer attraction and gain more of them. The
food qualities will also make satisfy to them. Thus the business would be both online
and high street.
The business would be effective due to innovative ideas and the products or services,
which the restaurant would provide to the customers (Hartmann,et al. 2016). The
business has the target to serve their delicacies for the food lovers and the people who
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likes to eat their regional foods. The environment of the restaurant would provide feel
like home and thus they would like to visit the place ad have large meals often.
However, various competitors can create impact on the business. The possible list of
competitors of the business is stated below:
Competitors
 Bathak Grill & Restaurant
 Royal Spice
 Lime Grill
Cuisines
 North Indian, Pakistani
 Bengali, Continental, Curry
 Indian, North Indian
The above stated competitors are in the location, which is the target market of the new
business. The competitors are serving quite similar products to the people residing at
the target market. However, with effective market analysis and establishment of
effective business strategies would help reducing the possible threats coming from the
competitors (Evans, 2015). The quality, quality and pricing must be compliment to each
other and hence the restaurant has the greater chance to make profit since this would
provide seating arrangement of 100 people at a time with homely atmosphere.
Part B
The business objectives of the restaurant are as follows:
 To become the supreme cuisine outlet having domestic environment in the
western United Kingdom
 To deliver bona fide Asian and continental cuisine at an affordable pricing and
exemplary services
 To make promotion of food essence of authentic Asian cuisine
 To generate cover ratio of 1.20X from every catering banquet
The first objective is to become the supreme food supplier with providing the customers
with home like ambience. The home like environment would satisfy the customers to
feel having food at homes. Customers would like to enjoy home environment rather than
a fake atmosphere. Foods, which are the taste of region, can be taken from the
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restaurant allowing people to remember the taste of home, which they left for some
personal requirements. The next objective is to provide authentic food items of Asian
countries, which would be the special for this business motivation. There may be
various cooks, who prepare Asian food items. However, the cook from Asian country
would be added advantage to produce the real taste of this region. Thus, people would
be able to get the same old taste, which they felt during staying at the homelands. The
people of United Kingdom would also have the experience of the rich taste of Asian
food. The third objective is to promote the food essence of authentic Asian cuisine to
the people of United Kingdom so that the restaurant can be well known for the kind of
cuisine delivers to people and its quality.
The restaurant business should be at the sole ownership or proprietorship. This would
provide various advantages such as:
Ease of information – starting sole proprietorship business is less complicated than a
formal cooperation and cheaper as well (Storey, 2016).
Tax benefits – owner of sole proprietorship is not needed to file separate business
report on tax. The sole proprietorship saves additional cost for accounting and tax filing.
Employment – sole proprietorship has the scope of hiring employees. This leads to
various benefits related top job creation and tax breaks. There is opportunity to employ
spouse of the owner without informing officially to anyone.
Decision-making – this kind of ownership allows controlling entire business and the
decision remains at the hand of owners. The proprietorship can be transferred to
another owner when felt necessary to do so (Mullins, 2013).
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Task 2
In order to analyze the macro environment and detect potential parameters, which can
influence the business the PESTLE or PEST analysis tool, is used. There are some
aspects partial with the characteristic behavior of empirical categories and require
dealing accordingly.
Political – these factors create huge impact over restaurant industry since government
wants having influence on the business and hence they announced different rules and
regulations taking care of public health. Hence, the restaurant business should consider
checking the cleanliness of restaurant and maintain the rule such as labor laws and tax
rates. Government checks the food and ingredient quality and the restaurant cleanliness
factors to keep safe of people’s health well (Lee et al. 2016). The preservation of food
must be in better way and maintaining its tidiness. There are certain employment laws
established by the government for safety rights and regulations for environment in order
to adhere to the environmental policies. The restaurant also require to follow the trade
restrictions and maintain the food standard in United Kingdom.
Economic – the fiscal policies by government can create impact on the business within
the restaurant industry. When they impose taxes over the consumer products, then the
restaurant would require enhancing the prices of their food products. There are changes
in inflation rates that effects business since the price of raw materials can raise resulting
to which the restaurant also require to increase the prices of their foods. This may
minimize their profit margins. Due to economic changes in various other countries, there
are ill impacts over the restaurants. The economic growth of United Kingdom is effective
and hence there is great scope of restaurant business in United Kingdom.
Social – most educated people are conscious on their health. Thus, they like to intake
health and safe foods. Thus, the business must provide healthy food and the food
ingredients must be considered to the standard of United Kingdom. People often check
food products those used in preparing cuisines (Ahmad and Muhammad Arif, 2016).
Within the health, conscious market the business of restaurant must provide healthy
foods to their customers. The restaurant needs to prepare foods according to
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customer’s expectations. Many people likes to dine at restaurant however many of them
also like to prepare foods at home and eat at their own home. Thus in order to grab
attention to dine out the restaurant must take suitable solutions and strategies.
Technological – with the emergence of information technology and technical supports
many restaurants use them to make promotion of their brand name and the products or
services they provide. Thus, this is the greater opportunity of the new business to make
promotion and advertise of the business by using the technology. With the help of online
marketing, the restaurant can take order, deliver with care to the people, and take
payments through online channels as well (Möhring, 2014).
Environmental – Various ecological external factors imply over the consumers of food
companies. For this, they require referring the environmental issues. The business
requires following the governmental rules and regulations and requires checking rising
rates towards the corporate atmosphere programs and gain the sustainable growth
strategies for the business. The restaurant also requires considering the environmental
protection and acting accordingly.
Legal – different government agencies are working for regular supply as well as quality
of food products. These agencies did set some rules and regulations in order to control
provision and supply of food items within the market. The business requires to consider
the rules and regulations of food products along with regulations of employment and
wages (Chen and Elston, 2013). The company should provide healthy food and take
proper care of welfare for their employees.
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Task 3
Part A
Rendezvous Asia Continental
(Launch event)
On 31st December 2017 there will be inauguration of the regional and continental food
restaurant “Rendezvous Asia Continental” in Burdett road, Limehouse, UK. The people
love to eat Asian regional and continental food of different parts of world can attain the
launching party. There is no age bar to attain the launching party. However, the young
people please come with your parents or any escort. The migrated people of Asian
countries must visit the party to have the same delicious tastes that were left behind
while coming to United Kingdom.
Restaurant launch event place
The event would be on 31st December 2017 at 7 PM. The venue of the event is at 227,
Burdett road, Limehouse. The event will commence at the indoor space of the
restaurant. The interior of the space would decorate as a nightmare. The major
attraction is at the entrance. People visiting to this event would get astonishing
experience and hope of love the event.
Entertainment at the launch event
The major attractions of the event are wide range of Asian continental foods. People
can enjoy the foods and feel the taste of Asia. There will be almost all the major asian
cuisines that are loved by wide range of Asian people. The event comprises of food
eating competition at free of cost. There is special attraction of DJ night. The DJ night
will conduct by DJ Paul. There
Event identifiers
The event will be conducted by proprietor; Sean Mark, who will address the attraction of
the event and the effectiveness and deliverable from the restaurant in future during the
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business. The receptionist at the event venue will be Edward and Jane. The special
attractor of the event is Abourezk Reuben, the famous singer along with DJ Paul.
Tables and chairs
The event consist arrangement for only 200 people to seat at the dinning. So hurry to
grab your invitation and have an opportunity to feel the taste of Asia. The entry pass will
be available at free of cost. For relishing with Asian foods, visitors require to pay
discounted prices for each items they like to have. The prices of the food items will be
as usual on opening of the restaurant.
Restaurant launch event beverages and foods
Some of the major foods that will be present at the launch event are burhani, kopi telur,
su jung kwa, sencha sour, Chinese sticky rice dumpling, Korean scallion pancakes,
lumpia, pork and kimchi, Chinese steamed pork buns, doenjang jjigae, tandoor, mughlai
foods and many more.
Menu choice in the restaurant launch event
 Burhani, (Bangladeshi spicy yogurt drink)
 kopi telur (padang egg coffee)
 su jung kwa (rye spiked cinnamon tea)
 sencha sour,
 Chinese sticky rice dumpling,
 Korean scallion pancakes,
 lumpia, pork and kimchi,
 Chinese steamed pork buns,
 doenjang jjigae,
 tandoor, mughlai
 Korean rice cake plus honey
 Manchurian chicken
 Kofta
 Malai chingri ( prawn in coconut)
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 Biryani
 Mughlai parantha and lot more
Please visit to enjoy the real attraction of the restaurant at scheduled time and place.
Thank you
Part B
Budget plan
CATEGORY PROJECTED
SUBTOTAL
Venue SUBT
OTAL £ -
Location Rental 700
Equipment Rental 100
Additional Tables / Chairs 120
AV Equipment 100
AV Staff 200
Venue-Specific Staff 300
Venue-Specific Catering 600
Wi-Fi 100
Venue Tech Support 200
Security 300
Décor SUBT
OTAL £
-
Linens 200
Lighting 220
Additional Signage 170
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Additional Furniture 250
Additional Decorative Items 150
Food / Beverage SUBT
OTAL £
-
Food 4000
Beverage 3000
Catering Staff 300
Bar 200
Additional Bar Staff 200
Additional Coffee Cart 175
Take-Away Food / Beverage 1500
Event Programming SUBT
OTAL £
-
Speakers 180
Performers 4000
Video Production 300
Presentation Graphics 320
Interpreters 500
Additional
Entertainment
SUBT
OTAL £ -
Music / DJ 1500
Gaming Rentals 700
Additional Rentals 200
Event Documentation SUBT
OTAL £ -
Photographer 300
Videographer 400
Attendee / Guest
Services
SUBT
OTAL £ -
Transportation 300
Accommodation 450
Storage 80
Charging Stations 110
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Swag 200
Giveaways 300
Registration SUBT
OTAL £ -
Software 100
ID Production 120
Signage 100
Communications SUBT
OTAL £ -
Flyers 200
Maps 100
Schedules 100
Event Materials 150
Public Relations SUBT
OTAL £ -
Announcements 100
Graphics 200
Press Releases 150
Marketing SUBT
OTAL £ -
Email Marketing 100
Surveys 100
Video Production 120
Photography 240
Design 270
Printing 150
Social Media SUBT
OTAL £ -
Twitter 20
Facebook 20
Pinterest 20
Instagram 24
Google+ 21
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LinkedIn 20
Snapchat 18
Advertising SUBT
OTAL £
-
Online 200
Print 120
Outdoor 180
Television 100
Sponsors SUBT
OTAL £
-
Acquisition 100
Communication 200
Complimentary Passes /
Tickets
300
Thank You Gifts 500
Logistics SUBT
OTAL £
-
Insurance 200
Contracts 100
Permits 90
Other SUBT
OTAL £
-
Miscellaneous 1000
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Task 4
Marketing objectives
The restaurant has the marketing objectives such as providing regional as well s
continental foods to the people living in United Kingdom. They require providing better
food quality maintaining the health factor standards of UK. The marketing strategies of
them must consider the product pricing. Many other competitors provide regional as well
as continental foods to the people. Thus, the business needs to provide quality foods at
an affordable pricing. The food products do stand in well-defined position since people
often like to visit outdoor to dine. The strategy of the business should be value for
money in eating habits. The key brand message, that is for conveying customers is
“Value for Money in Eating Habits”.
Target markets
The target market of the restaurant must be the areas where the people love to eat
good food. People love to take continental food are the target customers of the
business. The target customers are the common people who just love to eat good
regional and continental food and there are no bars or discrimination for the customers.
People of any age, sex, social status, economic background and race can avail the
foods from the restaurant. the people of every kind liking to eat are the target customers
along with the customers of their competitors since the competitors provide similar kind
of food products at more prices.
Marketing mix
In order to establish effective decisions for business and marketing they require
following the 4P’s of marketing mix.
Product: the products of the restaurant must be according to the customer’s
expectation maintaining the quality, quantity and the kind of cuisines they prefer most in
some different country. There are various demands of customers, which require to
consider by the restaurant for effective business success (Chaperon et al. 2016).
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Price: since there are various competitors in the target market the pricing of their
products must be less and competitive in nature maintaining the quality of foods for
serving the target customers.
Place: the location that has been chosen for the restaurant is Burdett Road, Limehouse,
is an effective place for the restaurant business. This is essential to have prime location
to do business and hence the location is quite justifying for the restaurant.
Promotion: The online promotion such as social media advertising and web publishing
along with television ads would be beneficial for the business promotion and advertising
(Khan, 2014).
Conclusion
The restaurant business specializing in Asian regional and continental foods is effective
which is indeed an innovative venture and an intrinsic desire to promote regional cuisine
with the satisfaction of respective kinship.
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References
Ahmad, S.Z. and Muhammad Arif, A.M., 2016. Entrepreneurial Characteristics, Motives,
and Business Challenges: Exploratory Study of Small-and Medium-Sized Hotel
Businesses. International Journal of Hospitality & Tourism Administration, 17(3),
pp.286-315.
Chaperon, S., Coca-Stefaniak, A. and Kennell, J., 2016. Business improvement districts
and the visitor economy.
Chen, S.C. and Elston, J.A., 2013. Entrepreneurial motives and characteristics: An
analysis of small restaurant owners. International Journal of Hospitality
Management, 35, pp.294-305.
Evans, V., 2015. The FT Essential Guide to Writing a Business Plan: How to win
backing to start up or grow your business. Pearson UK.
Hartmann, P.M., Hartmann, P.M., Zaki, M., Zaki, M., Feldmann, N., Feldmann, N.,
Neely, A. and Neely, A., 2016. Capturing value from big data–a taxonomy of data-driven
business models used by start-up firms. International Journal of Operations &
Production Management, 36(10), pp.1382-1406.
Khan, M.A., 2014. Restaurant franchising: Concepts, regulations and practices. CRC
Press.
Lee, C., Hallak, R. and Sardeshmukh, S.R., 2016. Innovation, entrepreneurship, and
restaurant performance: a higher-order structural model. Tourism Management, 53,
pp.215-228.
Möhring, M., 2014. Food for thought: rethinking the history of migration to West
Germany through the migrant restaurant business. Journal of Contemporary
History, 49(1), pp.209-227.
Mullins, J., 2013. The New Business Road Test: What entrepreneurs and executives
should do before launching a lean start-up. Pearson UK.
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Storey, D.J., 2016. Understanding the small business sector. Routledge.
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