Welli All You Can Eat: A Business Plan for a New Restaurant Venture

This project presents a detailed business plan for 'Welli All You Can Eat,' a proposed restaurant in Wellington, New Zealand, offering Indian, Chinese, and Mexican cuisines. The plan outlines the restaurant's mission, vision, and unique selling points, including live cooking and an all-you-can-eat buffet style. It explores key transactional relationships, partners, and stakeholders, emphasizing the importance of strong relationships with employees, suppliers, and government entities. A PESTLE analysis assesses the political, economic, social, technological, legal, and environmental factors influencing the venture. The plan also covers the identification of potential customers and stakeholders, analysis of customer needs, and marketing strategies, including product pricing, placement, and positioning. The project concludes with a reflective statement and references.

BUSINESS PLAN
ON
'Welli All You Can Eat'
RESTAURANT

TABLE OF CONTENTS
BUSINESS IDEA............................................................................................................................1
Realistic description of business idea and mission statement ...............................................1
Innovative and unique selling points .....................................................................................2
Key transactional relationship, partners and stakeholders ....................................................3
PESTLE analysis of mentioned restaurant venture................................................................4
POTENTIAL CUSTOMERS AND STAKEHOLDERS................................................................6
Identify and describe customers, partners and stakeholders..................................................6
Analysis of customers needs, want, preferences and characteristics .....................................6
Expected customers and expenditure expected .....................................................................7
ANALYSIS OF COMPETITION AND MARKETING STRATEGIES .....................................15
Strengths and Weakness of competitors ..............................................................................15
Marketing strategies developed on these findings and industry wide information .............16
Product pricing, placement and positioning strategies ........................................................18
Critical success factor for organisation ...............................................................................18
CONCLUSION OR REFLECTIVE STATEMENT.....................................................................19
Reflective .............................................................................................................................20
REFERENCES..............................................................................................................................22

BUSINESS IDEA
Realistic description of business idea and mission statement
This proposal shows a plan for starting a new business idea and the concept is to open a
new restaurant in Wellington, New Zealand (NZ). The restaurant will sell high quality of Indian,
Chinese and Mexican cuisines at an affordable price which will attract large customer base
towards it. The name of the proposed restaurant is 'Welli All You Can Eat'. Further, the major
business idea is to render quality of food and services in comfortable as well as pleasant business
environment (Patel, Thomson & Wilson, 2013). It will also be easy for the customers to eat these
three types of cuisines at a particular price. There will also exist different varieties of dishes in
cuisines so mentioned above which will surely attract a large customer base towards it. With this,
cited restaurant will be able to get the competitive advantage over the competitors who are
working in the same industry.
The business idea of opening a restaurant is a good point because the local citizens were
in the need for the same where they can get different types of cuisines at a single point.
Providing various varieties in different cuisines will automatically attract the customers to enjoy
the meal for once. Further, firm will effectively focus on making a loyal base for customers from
the starting time period only. With this, there will ibe increase in organisation revenue as well as
productivity. Owner of the restaurant has to develop effective marketing mix for different dishes
rendered to clients. This will show the effectiveness as how their product of different cuisines is
developed (Altinay, Paraskevas & Jang, 2015).
'Welli All You Can Eat' restaurant business idea is certainly a unique one where different
cuisines namely Indian, Chinese as well as Mexican will be served to the customers. These
cuisines will comprise of different types of dishes which will satisfy needs and demands of
customers in a clear and effective manner. Further, the meal to the customers will be served in
the buffet style. The employees who will be recruited will be multi-skilled and they will work
with best of their dedication to meet their own and organisational goals and objectives.
Mission statement of organisation
Mission statement usually motivates the organisation to give their best in the
accomplishing their goals and objectives. . Accomplishing the same within the set time frame
boosts the company’s morale and employees tends to work with best of their dedication to
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achieve firm's objectives (Bilton & Cummings, 2010). The mission of 'Welli All You Can Eat' is
to provide different types of food, drinks (both alcoholic and non-alcoholic) to the customers.
Moreover, mission for the venture is also to satisfy expectations of guests which usually they
expect from a hospitality firm. In New Zealand, travellers come from different locations from
whole around the globe and it is essential for the firm to render best quality of food as per their
taste. With this, they will be able to enhance their revenue as well as goodwill in coming time
period.
The food and drinks which will be served should meet the highest standard of superiority
as well as freshness. The mission is also linked with providing customers high quality of services
in form of warmth, civility, professionalism, etc. Employee’s morale also need to be boosted by
giving them friendly, cooperative as well as rewarding environment. This will motivate worker
to work with dedication to meet their own as well as organisational goals (Portales, 2015).
Further, mission is to understand the employees request so that they can stay for long time period
in the organisation. Further, the mission of the cited restaurant also emphasize on contributing
their best for the society so that their exist growth and development of the nation.
Vision statement of organisation
The vision statement of 'Welli All You Can Eat' is stated below:
“Restaurant planning is to become the first choice of customers for enjoying different
varieties of food in Wellington where they can get all types of food and drinks at a single place”.
Their vision is to expand their chain with the success of current restaurant as with this the
organisation will be able to satisfy various needs of customers. This will lead into increase in
firm's revenue as well as profitability.
Innovative and unique selling points
The innovation which owner is coming up with is the opening up of a restaurant in the
Wellington city of New Zealand. Restaurant firm will be serving various dishes of three different
cuisines i.e. Indian, Chinese as well as Mexican. This will give customers broad choice to select
their meal and have food. Further, these all dishes will be available to customers with best price
and excellent quality (Cummings & et.al., 2013). No doubt that with the taste only they will
become the loyal customer of the cited business venture. Further, all the mentioned cuisines will
be given to the customers under one roof. However, the concept of 'Welli All You Can Eat' is
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something new as the cost of meal for lunch is at relative low prices but there exist relative high
prices for dinner. It is usually because the dishes in dinner is more.
The unique selling point is that live cooking will be provided and customers will be able
to see that how food is prepared and can note down the hygienic factor which chef and cooks
usually consider at time of cooking. The owner of restaurant will also focus on increasing family
gatherings, corporate event meetings, etc. It will be necessary for the owner to make image of
new restaurant in the eyes of customers and for that various promotional techniques will need to
be taken into consideration (Poulston & Yiu, 2011). Moreover, one more uniqueness which firm
has that there do not exist any this type of restaurant in Wellington. This is a brand new concept
where all types of dishes are given to the customers at a single place. However, there are many
restaurants within the Wellington which is specialised in offering only one cuisine to the
customers and these might be only Indian, Chinese or Mexican, etc. There is not a single
restaurant present which offers all mentioned three cuisines under a single roof.
Key transactional relationship, partners and stakeholders
It is necessary for the owner of mentioned restaurant to make effective relationship with
different partners as well as stakeholders. Relationship can be in any form and with this, there
will be increase in brand image and goodwill for the enterprise. It is because the stakeholders
emphasise on giving their best contribution in growth and development of enterprise (Innes &
et.al., 2010). Transactional relationship for the owner will play an important role as with this,
they will be able to manage and make effective contact with the key stakeholders which will
contribute their best in excelling the performance of business venture. For opening of new
restaurant, the major requirement is the fund and this can be managed by taking help from
various parties.
Mentioned restaurant partner will have stakeholders in different forms and they are
employees, suppliers, creditors, customers, government, etc. Manager of the cited venture has to
make effective relationship with all parties so that they can stabilise their operations and get
competitive advantage over their rival competitors. Relationship with employees will play an
important role as they are real asset and firm has to satisfy their needs and demands in an
effective manner Wang, Chen & Chen, 2012). Their better performance will lead into good
productivity of venture. Owner has to frame policies in such a manner so that the morale of the
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employees get boosted and they work with better dedication to achieve their own and
organisational goals.
Role of suppliers will also play effective role and firm has to identify better suppliers so
that they can send quality of raw materials to the organisation. With best quality material, there
would bet better quality in food which will maximise the customers’ expectations from the
mentioned venture. Firm has to make effective bond with suppliers as well so that at times they
can provide them credit facility and no issues should be there when firm is delayed in payment
(Galuscak & et.al., 2012). This thing will not hamper the organisation brand image in eyes of
other parties. Firm also have to make strong bond with government so that their do not exist any
sort of problem in rendering the service. Owner of cited firm should follow all the norms and
acts which are prescribed in the New Zealand laws. Some of them which firm has to strictly
follow are in form of Food Act 1981, Animal Products Act 1999, Agricultural Compounds and
Veterinary Medicines Act 1997, Wine Act 2003, Alcohol Act 2012, etc.
PESTLE analysis of mentioned restaurant venture Political factors: The operations of any business will be afffected by policies and rules of
there government. As the new venture is going to be set up in New Zealand, risk is more
because government is not stable and rules use to change there in every three year. So
firm has to be aware of these changes and make plans beforehand. Beside this, company
needs to invest a substantial amount for start-up as the rate of labour force is high as well.
Moreover the lending rate here is also more which will decrease the revenue of venture,
as the company will have more tax burden (Eweje & Perry, 2011). Economic Factors: The economic condition of Newzealand is quite sound as the
inflation rate of the country is very low compared to other countries. Country focuses
more on tourism industry as it has small manufacturing sectors. This will be a positive
point for the firm, because it is going to serve local and foreign customers as well. The
purchasing power of the country is good which helps to circulate money all over the
country. So the huge investment done by company will be returned with profits over the
time by selling its services. Social Factors: Social and cultural fatcors of the country are favourable for the company.
The literacy rate is almost 100% which shows that living standard of people is high, and
is beneficial in the sense of having more local customers (Hutt, 2010). Further the
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government has more focus on tourism industry providing various facilities to tourists.
This will obviously increase international customers for restaurant. But the firm has to
take care of the preferences of the local and foreign customers needs as they have the
different perceptions of taste. Additionally, the moratality rate of the country is low so
after retirement people get benefits of pension and gratuity without doing any work. This
rule is not beneficial for the organisation and can affect profits. Technological Factors: Developed technology will always be beneficial for any venture
though it needs some large investments. Company has to update its technological
facilities to high level so that it can meet the international standard and meet the
expectations of customers. Updated technologies will help the restaurant also as keeping
track of significant informations will be easier (Freeman, 2010).
 Legal factors: Legal factors of the country are very favourable for starting a new
business as it provides trade freedom which helps the venture in expanding its operations
easily. There are less legal formalities in comparison to other countries and provides a
wide scope for expansion of comapny. The fact that has to be considered carefully is
unstability of government which results in frequent changes in rules in short time. So
manager has to plan strategies infront of changes by making some backup options in
advance . Further, manager will have to take care of some basic laws and acts like fair
trade practices, employment and labour laws etc. for smooth running of business.
 Environmental Factors: The population of country is well educated so they are aware of
environmental issues. Country has well developed systems for managing pollution free
environment and to deal with probable dangers. The location of restaurant will have great
effect on its functioning and investment to manage the pollution free environment. If
venture is located nearby any beach, park ar any other similar location then it has to take
care of cleanliness of surroundings. If it is located in centre of city then it has to face
issues of polluting environment due to release of smoke while cooking or by any other
ways Gikonyo, Berndt & Wadawi, 2014). Therefore the operational cost of restaurant
may increase in such case.
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POTENTIAL CUSTOMERS AND STAKEHOLDERS
Identify and describe customers, partners and stakeholders
'Welli All You Can Eat' restaurant will have their stakeholders in different form and they
will give their best performance so that the firm can achieve their goals and objectives in clear
and specific manner. Mentioned firm will focus on satisfying the needs and demands of various
stakeholders so that they can contribute their best. This will give mentioned restaurant firm a
competitive edge over their rivals. The stakeholders for the cited venture will be in form of
employees, suppliers, customers, creditors, government, etc. Moreover, at the time of opening up
of restaurant, if the fund is opted from any personal source i.e. friends or family members, then
their contribution will also exist at the time of making effective plans and policies for the
enterprise (Maumbe, 2012).
Role of suppliers will be important as they will render the quality of raw material to the
hospitality firm. Their performance will play an important role as they ave responsibility of
sending quality stuff to the venture. If the raw material would be not of adequate quality then the
firm will not be able to give their best and this will hinder their performance badly. Suppliers
also need to be efficient at the time of dealing and their price for different raw material should be
less as firm will purchase the same in stock. Freshness and hygiene will play an important role
herein (Relationship Marketing vs. Transactional Marketing, 2016.
Employees for the cited firm will be in two categories. One is management and the other
is back working employees who will be in form of chef's, cook's, etc. Their role in the growth
and development of venture will be effective as they have responsibility of preparing best of the
food so that the needs and demands of customers get fulfilled. Moreover, management will also
emphasise on taking effective feedback from employees so that they can make necessary
changes in their food quality as well as in other important elements (Park & Allen, 2013).
Moreover, for all the posts, efficient and talented workforce need to be recruited so that they can
work with best of their dedication to meet their own and organisational goals and objectives.
Analysis of customers needs, want, preferences and characteristics
Customers needs never get satisfied and they are in need of new things from time to time.
Further, the expectations of one individual differ from the another and thus it is important for the
owner of cited restaurant firm to give different varieties in cuisines which maximise their
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demands. Currently, restaurant firm will render various dishes in cuisines like Indian, Chinese
and Mexican. Customers will have best of their dining experience with their loved one's as well
as family members.
Owner of cited restaurant before launching different meal should take prior concern of
customers so that he must come to know as what customers are in need of. There are various
restaurants in Wellington who servers these cuisines but developing a unique dish and taking all
the three cuisines to a single platform will make functioning of organisation smooth (Hanaysha,
2016). The owner of 'Welli All You Can Eat' knows that they are working in dynamic
environment and thus, it is necessary for them to take necessary feedback from employees before
implementing their own plan. Relative concern from the customers will help them to grow in
effective manner. This will enhance organisation performance upto quite an extent.
Moreover, it is necessary for the manager to decide a target market whom they will
initially focus on. Attracting them towards the dishes will make them loyal customers towards
the firm. However, the perception of one individual usually differ with the another one and
therefore, it is utmost necessary for the owner to make a right tactic so that a large base of
customer gets ready to taste something new which is in form of different cuisines.
ANALYSIS OF COMPETITION AND MARKETING STRATEGIES
Strengths and Weakness of competitors
Restaurant industry in New Zealand is quite strong because it is one of the major country
for tourist attractions. There are various restaurants in Wellington which emphasise on giving
quality of food to the customers so that they have best of their dining experience (Dedeoğlu &
Demirer, 2015). Some of the most popular restaurant in Wellington are Tandoori Pakwan,
Charley Noble Eatery & Bar,Higher Taste, etc. On witnessing, it is found that the restaurants
which are prevailing in Wellington are largely Indian because a large number of population stays
of that only. From the three restaurants mentioned above, two of them are is Indian restaurant
which serves popular typical Indian food. Some components here which has to be taken into
consideration are:
 Market share: Market share of the restaurant firm is not relatively high for one particular
because there is stiff competition. No restaurant is getting a competitive edge because
there exist many rivals in the same field. Further, the three restaurants which has been
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distinguished above sell only one particular cuisine and thus it is difficult for them to stay
in the competitive market. Market share of all the three has been defined down under:
Name of restaurant Market share
Tandoori Pakwan 15.00%
Charley Noble Eatery &
Bar
16.00%
Higher Taste 13.00%
Thus, from the above market share it is found that the competition is stiff but still due to
large population of Indians as well as existing population, these existing ventures are been able
to develop a good brand image in the eyes of customers.
 Profits and revenue: Profits and revenue is one of the important aspect as the restaurant
firms whole around the globe are striving for that only. Owner of the firm knows that
they are working in dynamic environment and thus it is necessary for them to identify the
expectations of customers and bring all those dishes accordingly. Further, the profits
earned by these firms are reasonable because after generating the profits, there are many
things which needs to be deducted as well in form of expenses. Employees salary,
electricity, purchase of raw material, etc. are to be considered by the owner.
Considering these elements, it is found that at the initial phase, firm might face difficulty
in running down their operations. However, the concept of the cited firm is relatively new as they
are serving three different types of cuisines to maximise the needs and demands of the
customers. Owner of the cited firm is bounded to make plans and policies by considering of their
competitors so that they can give them stiff competition (Osterwalder & et.al., (2014).
Marketing strategies developed on these findings and industry wide information
For surviving in competitive market, every firm has to analyse their competencies
effectively and efficiently. SWOT analysis can provide opportunity to revise or strengthen their
performance for coming time period. This process will also help firm in getting an competitive
advantage over the rival competitors who are working in same industry.
Strengths-
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 Restaurant providing tasty food in different cuisines will give the cited venture best
dining experience. The interior of the venture will be decorated in such a manner that it
will give pleasant experience to their customers (Eweje & Perry, 2011). There another major strengths is that the pricing of the products are relatively low for
various meals. This strategy so opted will differentiate them from their competitors.
Weakness-
Restaurant has some weaknesses and they need to be overcome within specific time
period. Some of them has been discussed down below:
 Major weakness of the cited firm is that they have limited staff members and they are not
well trained. Further, training and development session need to be done so that they get
new knowledge as how to deal with the clients effectively. Mentioned firm can high level of competition in the NZ market so, it is utmost necessary
to modify their plans and policies from time to time (Hanaysha, 2016).
Opportunity-
 Major opportunity which firm can have in form of offering healthier and organic dishes
or salads in the menu.
 Finding various ways of generating more of the traffic during slow times. For instance
the afternoon session where there exist less rush. This may represent an opportunity for
growth for the cited enterprise Different other opportunity which firm has is dressing or baked goods which can be help
in enhancing food quality and will be a point of customers attraction.
Threats-
There are various threats for the cited restaurant venture and owner has to overcome the same
within the stipulated time frame:
 New restaurant opening in different areas can enhance venture supply chain for various
customer segments (Piercy, 2014).
 Rising in price to certain potential product's raw materials can be another threat for the
mentioned firm. This can be seen as a major challenge for the hospitality firm.
 New market entry and increasing customers demands can be also seen as a threat.
Considering all these factors, it is utmost necessary for the owner of 'Welli All You Can
Eat' restaurant to make certain strategies by taking the help of the different stakeholders. It is
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because they have been to outside world and can help the venture with the experience they have
as what consumers are in need of. Basic strategies has to be formed in form of targeting, pricing,
positioning, etc.
Product pricing, placement and positioning strategies
Target market for 'Welli All You Can Eat' restaurant will be done on the basis of
segmentation which the owner has to consider effectively. Segmentation usually plays an
important role where a particular segment is selected and organisation emphasise on same to
improve their revenue and productivity (Lovelock, 2011). The major concentration of the venture
will be on demographic as well as psychographic segmentation Further, in the demographic, the
main aim will be on different aspects which will relate to age, sex, income level. Further, the
owner of the venture will focus on the age group from 18-60 as this the only age where people
have so much of food attraction. For the sex group, both male and female will be attracted
towards different types of multi-cuisine dishes developed by the firm. Apart from it, the major
emphasise will be on income level where both middle income adults and families who like to eat
outside their homes will be preferred. On the other side, for psychographic segmentation,
customers needs and wants will be considered and only those goods and services will be
produced of which consumers are mostly in need of.
The pricing strategy for the products so served will be kept as competitive so that firm
can give best of the food to the customers at an affordable price. This will surely enhance the
revenue and productivity for the cited business unit. Further, the competitive pricing strategy will
lead organisation in achieving their goals and objectives as well with creation of loyal of
customer base as well. Cited firm will majorly emphasise on two customers groups and these are
local people and tourists from NZ and other countries.
After deciding the target market and pricing technique, cited firm has to position
themselves in the marketplace. This positioning will be made by giving high quality of products
and services to the customers. Firm has to position their products in the eyes of customers by
giving superior quality of meals and friendly services when customers reach to restaurant.
Further, using effective advertisement techniques with brand promotion will assist consumers to
have the meal for once (Positioning in marketing, 2016).
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