Business Plan: Culture Cuisine - An Entrepreneurship Venture in AU

Verified

Added on Ā 2023/03/31

|23
|3804
|61
Report
AI Summary
This report presents a business model and plan for Culture Cuisine, a startup restaurant in Australia focusing on delivering authentic cultural food experiences. It includes a business model canvas outlining key activities, partnerships, customer relationships, and revenue streams. The market analysis covers the size of the Australian market, industry competition, current trends, market segmentation, target consumers, and key competitors. Operational and technological aspects are discussed, including technology development, production options, and sales and distribution strategies. The report also addresses human resources requirements, ownership structure, and growth strategies. Finally, it provides a financial overview, including estimated sales, costs, profits, and sources of financing. The document is contributed by a student and available on Desklib, a platform offering study tools and resources for students.
tabler-icon-diamond-filled.svg

Contribute Materials

Your contribution can guide someoneā€™s learning journey. Share your documents today.
Document Page
Entrepeneurship
(Student Name)
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Entrepreneurship 1
Executive Summary
Culture Cuisine is one of the startup businesses that will be introduce in Australia. It is based on
authentic food that will be delivering according to different culture. It is one of the innovative
concepts and idea in restaurant that will attract maximum number of consumers the market of
Australia will provide an opportunity to the restaurant to earn maximum revenue. However, it is
also required to analyze competition in the market to compete them efficiently. Culture Cuisine
will cater variety of services to their consumers. The target market will be young and old
generation therefore, various activities will be adopted by the restaurant to attract maximum
number of consumers efficiently.
Document Page
Entrepreneurship 2
Table of Contents
Executive Summary.........................................................................................................................1
1. Introduction..............................................................................................................................3
2. Business Model Canvas............................................................................................................3
3. Market Plan..............................................................................................................................5
3.1. Size of the Market.............................................................................................................5
3.2. Analysis of Industry and Competition involved...............................................................6
3.3. Trends................................................................................................................................6
3.4. Market Segmentation........................................................................................................6
3.5. Targeted Consumers.........................................................................................................7
3.6. Major Competitors............................................................................................................7
3.7. Location of Culture Cuisine..............................................................................................7
4. Operation and Technology.......................................................................................................7
4.1. Options for Developing Technology.................................................................................7
4.2. Impact of Change in Technology......................................................................................8
4.3. Options for Producing the Product....................................................................................8
4.4. Option of Sales and Distribution.......................................................................................8
4.5. Resources Required...........................................................................................................8
4.6. Laws and Regulation related to business..........................................................................8
4.7. Moral or Ethical Issues.....................................................................................................8
Document Page
Entrepreneurship 3
5. Human Resources.....................................................................................................................9
5.1. Requirement of technical and management experience....................................................9
5.2. Owner and its Role............................................................................................................9
5.3. Ownership Structure.......................................................................................................10
5.4. Manpower Requirement..................................................................................................10
5.5. Growth Strategy of Culture Cuisine................................................................................10
6. Finance...................................................................................................................................11
6.1. Estimated sales of the Culture Cuisine are explained below: In $00..............................11
6.2. Cost.................................................................................................................................11
6.3. Estimated Profits.............................................................................................................11
6.4. Sources of Financing.......................................................................................................11
7. Conclusion..............................................................................................................................11
8. References..............................................................................................................................12
9. Appendices.............................................................................................................................14
9.1. Appendix 1......................................................................................................................14
9.2. Appendix 2......................................................................................................................15
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Entrepreneurship 4
1. Introduction
In the recent scenario, the market is full with lots of opportunities and threats. Most of the
companies have grabbed such opportunities that support them to grow in the market. Culture
Cuisine is one of the small start-up restaurants that will be introduce in Australia. Culture
Cuisine will represent all the culture at one place that will give new picture to the consumers.
Costumes will be also providing for the consumers to make them feel different experience in the
restaurant. Entire world cover with different culture, representing such different culture at one
place will create innovative concept in the restaurant. Australia. While entering in the new
market, the restaurant is required to prepare proper business plan that will help them to entre in
the new market more efficiently.
In the following part there will be detailed analysis of the market with product or services that
will be delivered to the consumers. The main objective of this report is to analyze business
canvas and its essential elements. Along with it, operational, human resources as well as
marketing plan will be outlined that is required to run the business.
2. Business Model Canvas
Business model will help the Culture Cuisine in providing conceptual strategy execution s well
as the alignment of the strategies to the process of business efficiently. It will provide logical
insight about the methods as well as procedures that Culture Cuisine can use to create value to
the consumers. The business of Culture Cuisine is explained in below points:
Document Page
Entrepreneurship 5
Key Activities
Preparing
and serving
quality food
Generating
employment
Promotional
and
Marketing
Activities
Participatin
g in social
services
Key
Partnerships
Suppliers
Other
Retailers
Government
Grocery
Owners
Wholesalers
Managers
Other
Commercial
Equipmentā€™s
Customer
Relationship
The food
will be
provided at
nominalpri
ce
Platform f
feedback
will be
provided to
the
consumers
to share
their
experience
and issue
or any
concern
It the food
quality is
not up to
the mark
as well as
does not
comply
with the
food
quality
standards
Value Propositions
Will provide
confortable
environment
to the
consumers
that will
make them
feel of their
own culture
Home
delivery will
be provided
to the
consumers
Majorly
Predilection
will be given
to the quality
Ecological ā€“
utensils will
be used in
the
restaurant
Customers
Segment
Children
between
the age to
group of 7
to 12
years
All
teenagers
and elders
people
will be
warmed
welcome
by the
restaurant
Yong
people
will be the
main
target
consumers
for the
restaurant
Channels Key Resources
Document Page
Entrepreneurship 6
Home delivery Service will be
also provided to the consumers
Food outlet will be provided in
the crowded place
Online webpage where the
facilities of the online ordering
food products can be
commenced speeding up the
process of lunch and dinning
then the
consumers
will be
provided
an option
to change
Equipmentā€™s required in cooking
Capital
Employees (Cook, Servers and
waiters, Cleaning Staff)
Suppliers
Brand and Patent
Kitchen and Utensils
Cost Structure
Salaries
Store Maintenance
Equipmentā€™s
Building Rent
Ingredients
Freights
Taxes
Marketing Cost
Salaries
Logistics and Supply chain
Revenue Streams
In-store Sales
Cash Payment
Advertisement and Promotion
Web-Based Sales
Credit or Debit Cards
3. Market Plan
3.1. Size of the Market
The size of Australian market is huge. The country is considered as sixth largest country in the
world. The economy of the Australia is the largest mixed market economy with the GDP of
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Entrepreneurship 7
AUS$ 1.69Trillion. The GDP of the country is one of the highest of the entire countries as well
as services take a major part in it with 70% of the GDP. Australia is suggesting many
opportunities to entre its market for foreign companies in huge performing sectors such as food
and beverages.
3.2. Analysis of Industry and Competition involved
ļ‚· Industry Analysis: the food and beverages industry in Australia represent tremendous
growth over the past five years 2019-2020, as Australian people are keen for tasty foods
and beverages. The people of Australia are considering in foodie people that make them
force to try innovative food in the market. The consumers are attracted in the roots and
taste of the products. The revenue in such industry is estimated to increase by 2.7% over
the five years through 2019-20, to reach $5.0 billion. It comprised estimated evolution of
4.2% in the year 2015-16 (Hallak et al., 2018).
(Source: Preston, 2017)
ļ‚· Competition in the Industry: there are more than 40000 cafes, restaurants as well as
catering business that are operating in Australia. Since there were only 36,500 of such
businesses in the year 2013. It represent that the industry was grown with 25% over the
five years. Therefore, the country involve with the great competition that will create
Document Page
Entrepreneurship 8
biggest challenge for Culture Cuisine. The huge demand and craving of consumers for
foods attract new restaurants to entre in such market efficiently.
3.3. Trends
In the recent scenario, most of the people are switching towards healthy foods. They prefer to eat
healthy with tasty food that will help in maintaining their lifestyle. Proper diet char is followed
by them to make their body fit. It affected the industry at greaterlevel. The junk food stalls now
converted into healthy food to attract the consumers. It increases the level of competition among
the consumers at greater level.
3.4. Market Segmentation
Culture Cuisine will target their segment their market on the basis of demographic and behavior.
Demographic is majorly focused on the age, gender, income level of the consumers and behavior
is based on the nature and preference of the consumers. Therefore, according to the demographic
analysis, the average people that prefer to visit new restaurants are between the ages of 14-40
years with an average income of earning is between $20000 to $500000. While analyzing the
behavioralsegmentation, most of the people in Australia are switching towards healthy lifestyle.
3.5. Targeted Consumers
The targeted consumers of Culture Cuisine will be young generation of the consumers between
the ages of 15 to 36 due to the main reason. Such people has great spending power as at this
particular time of personsuchpeople are free from ay responsibilities that make them free to
spend amount on their enjoyment in an effective manner and old generation will be also the
targeted consumers for the restaurant due to authentic food will be loved by them that will make
them mesmerizing. Culture Cuisine will target both genders males and females for their business.
The price of the products will be imposing normally to target middle and high class people. It
will help in expanding the range of targeting consumers in an effective and efficient manner.
Culture Cuisine will also target health conscious people by serving them authentic cultural food
with full of healthy vegetables and fruits (Ray, 2018).
Document Page
Entrepreneurship 9
Age Yon and Old generation between the age of 15
to 36 and more than 50 years
Income Between the average income of $20000 to
$50000
Gender Both Men and Women
Lifestyle Health conscious people will be the target
consumers
Religion Cover all type of religion
3.6. Major Competitors
The existing and top restaurants such as Quay, Attica, and Marque will create huge competition
to the Culture Cuisine at greater level. They have set up the brand image in the market through
offering and delivering quality products to its consumers that made them competitive in the
market. The marketing strategies of such competitor are also effective that attract maximum
number of consumers effectively (George, Corbishley, Khayesi, Haas, and Tihanyi, 2016).
3.7. Location of Culture Cuisine
Culture Cuisine will locate near beach to make the consumers relax and can able to enjoy more
efficiently. It is expected that more than 20 people in the afternoon will visit Culture Cuisine and
more population is expended to visit in the evening and night (De Villiers, Rouse, and Kerr,
2016).
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Entrepreneurship 10
4. Operation and Technology
4.1. Options for Developing Technology
The involvement of technology in restaurant is low. Therefore, Culture Cuisine will give
subcontract to the other individual to develop required technology in the restaurant. The
restaurant will provide the service of ordering food from tablet to the consumers as well as they
can also track their order how much time it will take. It will enhance the service quality and
speed up the services of Culture Cuisine. Chef will receive order from tabs that will make them
aware about the food ordered by consumers rather than wait for waiter to come with the slip of
orders. Such technology will also make the order more clear (Kuada, 2015).
4.2. Impact of Change in Technology
Introduction of Self-order Kiosks gives new market and face to the restaurants. It is appreciated
across Australia at greater level. Most of the restaurants are using such feature in their business
to make their restaurant more competitive in nature in the market. Furthermore, the online order
provides new opportunities to the restaurants to target their consumers efficiently. Therefore,
Culture Cuisine can use such technology in their business to make their restaurant unique and
competitive in the market. it will help in enhancing its service in the market and can able to
satisfy more (Gu, Zhang, Vaz, and Mukwereza, 2016).
4.3. Options for Producing the Product
In-house option will be adopted by Culture Cuisine to set up their business in the new market.
The employees will be hired by Culture Cuisine to produce the product and serve it to the
consumers. restaurant is one of the own development business that does not required any help
from outsiders as huge amount is not required in setting up such kind of business. Therefore,
Culture Cuisine will be whole and sole manage by the individual person to achieve maximum
profit from the market.
4.4. Option of Sales and Distribution
Culture Cuisine will set up its own small outlet to serve their product. In-house option will be
adopted by the consumers to target their consumers Culture Cuisine will have direct interaction
Document Page
Entrepreneurship 11
with its consumers that make them more competitive in the marker. Al kind of services will be
proved by Culture Cuisine itself to their consumers to make its business more competitive in the
market (Ofori, 2015).
4.5. Resources Required
The resources that are required for developing the products are skills of chef, who will cook the
food, raw material that will be used as ingredient, suppliers who will supply required ingredients
for preparing food and basic equipment such as table, stove, utensils and crockery in which he
food will be served (Sezgin, and Sanlier, 2019).
4.6. Laws and Regulation related to business
The restaurant will require taking permission from the local authority to open their profit making
business in particular place. The restaurant will be required to register their business under
Workplace Health and Safety Act, 2011 (Cth) in which Culture Cuisine is require to ensure that
it will make the environment healthy for the consumers as well as for employees. Culture
Cuisine will also require taking Tax Fie Number with the name of its registered name as well as
require opening separate business bank account in Australia (David, and David, 2016).
4.7. Moral or Ethical Issues
ļ‚· The problem of discrimination related to the employees can be occurring in the
workplace. Working hours more than 8 hours per day can increase level of irritation
among the employees.
ļ‚· While accepting online order, Culture Cuisine can face the issue of hacking of their dada
and security. It can create biggest challenge for the restaurant to cope up from such
challenges.
ļ‚· Violation of copyright can create issue for the Culture Cuisine at greater level. due to free
flow of information on the internet, the plagiarism and copyright violation can be the
continual issue for Culture Cuisine (Ansoff, et.al., 2019).
Document Page
Entrepreneurship 12
5. Human Resources
5.1. Requirement of technical and management experience
The manager is required t have knowledge about the technical and management skills to manage
the restaurant as a whole. He should be capable of providing effective technical and
managementtraining to their subordinate and other staff. The chef is required to have some basic
knowledge about the technical skills that can be required to manage order from tab. Overall the
employees are required to have minimum experience of 2 years in technological as well as
management skills (Casnocha, and Hoffman, 2012).
5.2. Owner and its Role
ļ‚· Mr John will be the CEO of the company who are expertise in finance. Therefore,
MrJohn will be capable of establishing strategic plans, and will be liable for forecasting
the future or manage the budget of the restaurant. All the financial related activities will
be managed by the CEO of the restaurant. He will raise the funds for their restaurant to
make it more competitive and also manage inflow and outflow of the cash activities in
restaurant.
ļ‚· Mr Dale is Sales and Marketing manager who will manage the marketing strategy of the
restaurant to compete their competitors
ļ‚· Mr Ronald is the Chief Operating Officer who will manage multipart operating details of
the restaurants. He will take care that the restaurant can able to deliver the service
gradually.
ļ‚· Mr Richard is the Chief Technology Officer whole will manage all the IT related
activities in restaurant and manage the inflow and outflow of inventory though software
(Katz, and Corbett, 2016).
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Entrepreneurship 13
5.3. Ownership Structure
Culture Cuisine will be managed by the single owner. The main role of the owner will be to
manage whole activities related to the restaurants. GeneralManager will be responsible for the
day to day operations of the business which includetraining, hiring as well as overseeing the
staff. After general manager, front of house will come in the hierarchy in which he will manage
the dining area of restaurant including setting up of service, waiting on consumers and
interacting with kitchen staff. At the last executive chef will be present who will manage the
activities related to kitchen section (Van de Ven and Engleman, 2004).
5.4. Manpower Requirement
It in the initial stage of the restaurant, the Culture Cuisine will require less employees as
comparison to the 2nd and 3rd year due to the reason it is expected that the sales of the restaurant
will be low in the first year therefore, in the first year not more than 25 employees will be hired
in the restaurant. It will increase gradually with the increase in sales. The right employees will be
searched from the social media such as LinkedIn and with contacts. The employees will be paid
according to the time 10 hours shift will be available for the staff. Moreover, the employees will
be motivated through remuneration and other extra benefits with incentives will be provided to
Document Page
Entrepreneurship 14
the employees.Training related to attending consumers will be provided to the employees to
enhance their services (Cassar, 2004).
5.5. Growth Strategy of Culture Cuisine
The quality of the restaurant will be monitored by the general manager and proper feedback form
will be provided to the employees that will share their review. It will help the restaurant to
control over the quality of the product in an effective manner (Rogerson, 2018). Culture Cuisine
will hire more professional in their restaurants that will change the organizational structure of the
restaurant with growth. The employees will have opportunity to promote as scenario manager of
executive that will motivate them to work more efficiently. IJP (Internal Job Posting) will be
provided in the restaurant (Colombo and Piva, 2012).
6. Finance
6.1. Estimated sales of the Culture Cuisine are explained below: In $00
Year 1 Year2 Year3
Selling Price per unit 60 74.5 96.11
Sale Volume 100 120 130
Expected Revenue $6000 $8250 $12375
6.2. Cost
Startup Cost = AUS$300000
Equipment Cost= AUS$154000
Document Page
Entrepreneurship 15
6.3. Estimated Profits
Estimated Profits of the First Year: $60650
Estimated Profits of the Second Year: $216650
Estimated Profits of the Third Year: $487650
6.4. Sources of Financing
The main source of finance will be loan from bank and own investment. It will help in initiating
the business more effectively. The own investment amount is saved in the bank and loan
formalities will be done for raising funds from loan. The loan will be taken on mortgaging the
personal property (Juntunen, 2012).
7. Conclusion
From the above analysis it can be concluded that expansion of business required effective
analysis and huge amount of investment. One of the innovative restaurant Culture Cuisines will
be introduce in Australia in the form of Startup. While entering in the market, it is required for
the restaurant to analyze the market efficiently. Australia is one of the developed countries that
will give new opportunities to the restaurant to enter in such market. Therefore, it is required for
the restaurant to prepare effective marketing strategies to attract maximum number of consumers
in more efficient and effective manner.
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Entrepreneurship 16
8. References
Ansoff, H. I., Kipley, D., Lewis, A. O., Helm-Stevens, R., and Ansoff, R. (2019). Implanting
strategic management. Springer.
Casnocha, B., and Hoffman, R. (2012). The Start-up of You. London: Random House Business
Cassar, G. (2004). The financing of business start-ups. Journal of business venturing, 19(2), 261-
283.
Colombo, M. G., and Piva, E. (2012). Firmsā€™ genetic characteristics and competence-enlarging
strategies: A comparison between academic and non-academic high-tech start-ups. Research
Policy, 41(1), 79-92.
David, F. R., and David, F. R. (2016). Strategic management: A competitive advantage
approach, concepts and cases. Pearson.
De Villiers, C., Rouse, P. and Kerr, J. (2016) A new conceptual model of influences driving
sustainability based on case evidence of the integration of corporate sustainability management
control and reporting. Journal of Cleaner Production, 136, pp.78-85.
George, G., Corbishley, C., Khayesi, J.N., Haas, M.R. and Tihanyi, L. (2016) Bringing Africa in:
Promising directions for management research.
Gu, J., Zhang, C., Vaz, A. and Mukwereza, L. (2016) Chinese state capitalism? Rethinking the
role of the state and business in Chinese development cooperation in Africa. World
Development, 81, pp.24-34.
Hallak, R., Assaker, G., Oā€™Connor, P. and Lee, C. (2018) Firm performance in the upscale
restaurant sector: The effects of resilience, creative self-efficacy, innovation and industry
experience. Journal of Retailing and Consumer Services, 40, pp.229-240.
Juntunen, M. (2012). Co-creating corporate brands in start-ups. Marketing Intelligence &
Planning, 30(2), 230-249.
Document Page
Entrepreneurship 17
Katz, j., and Corbett, A. (2016). Models of Start-up thinking and Action. Wingley: Emerald
Group.
Kuada, J. (2015) Entrepreneurship in Africaā€“a classificatory framework and a research
agenda. African Journal of Economic and Management Studies, 6(2), pp.148-163.
Lee, T.H., Chao, W.H. and Lin, H.Y. (2018) Cultural inheritance of Hakka cuisine: A
perspective from touristsā€™ experiences. Journal of destination marketing & management, 7,
pp.101-111.
Ofori, G. (2015) Nature of the construction industry, its needs and its development: A review of
four decades of research. Journal of construction in developing countries, 20(2), p.115.
Ray, K. (2018) Culinary Culture in Colonial India. A Cosmopolitan Platter and the Middle-Class
19(1).
Preston, G. (2017) Sydneyā€™s Dynamic Food Industry Outlook [Online]. Retrieved from:
http://www.prpsydney.com.au/3340-2/ [Accessed on 25/05/19]
Rogerson, C.M. (2018) Pro-poor local economic development in South Africa: The application
of public procurement. In Local Economic Development in the Changing World (pp. 101-130).
Routledge.
Sezgin, A.C. and Sanlier, N. (2019) A New Generation Plant For The Conventional Cuisine:
Quinoa (Chenopodium Quinoa Willd.). Trends in Food Science & Technology.
Van de Ven, A. H., and Engleman, R. M. (2014). Event-and outcome-driven explanations of
entrepreneurship. Journal of Business Venturing, 19(3), 343-358.
Van den Berghe, P.L. (2014) Ethnic cuisine: Culture in nature. Ethnic and Racial Studies, 7(3),
pp.387-397.
Document Page
Entrepreneurship 18
9. Appendices
9.1. Appendix 1
START-UP COSTS Cost ($) EQUIPMENT/
CAPITAL COSTS Cost ($)
Registrations Business purchase price 45000
Business name 50000 Franchise fees 5000
Licences 25000 Start-up capital 60000
Permits 10000 Plant & equipment
Domain names 8000 Vehicles 5000
Trade
marks/designs/patents 6000 Computer equipment 4000
Vehicle registration 5000 Computer software 3000
Membership fees 4000 Phones 1000
Accountant fees 3000 Fax machine 2000
Solicitor fees 9000 Security system 5000
Rental lease cost (Rent 100000 Office equipment 14000
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Entrepreneurship 19
advance/deposit)
Utility connections &
bonds (Electricity, gas,
water)
10000 Furniture 4000
Phone connection 4000 Shop fitout 6000
Internet connection 500
Computer software 6000
Training 4000
Wages 10000
Stock/raw materials 8000
Insurance
Building & contents 200
Vehicle 200
Public liability 400
Professional indemnity 1000
Document Page
Entrepreneurship 20
Product liability 1000
Workers compensation 2000
Business assets 3000
Business revenue 2200
Printing 1500
Stationery & office
supplies 1000
Marketing & advertising 25000
Total start-up costs $300,000 Total equipment/capital
costs $154,000
9.2. Appendix 2
PROFIT & LOSS Year 1 Year 2 Year 3
Sales 600000 895000 1249500
less cost of goods sold - 100000 80000
Document Page
Entrepreneurship 21
Moreā€¦
Gross profit/net sales $600,000 $795,000 $1,169,500
Expenses
Accountant fees 30000 30000 30000
Advertising & marketing 250000 300000 350000
Bank fees & charges 45000 45000 45000
Bank interest 7000 7000 7000
Credit card fees 4000 4000 4000
Utilities (electricity, gas, water) 15000 20000 29000
Telephone 8500 9000 15500
Lease/loan payments 8500 10000 15000
Rent & rates 1550 2550 3550
Motor vehicle expenses 22000 22000 22000
Repairs & maintenance 5800 5800 5800
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Entrepreneurship 22
Stationery & printing 10000 10000 10000
Insurance 10000 10000 10000
Superannuation 8000 8000 8000
Income tax 50000 10000 15000
Wages (including PAYG) 10000 15000 20000
Other Expenses 54000 70000 92000
Total expenses $539,350 $578,350 $681,850
NET PROFIT (Net Income) $60,650 $216,650 $487,650
chevron_up_icon
1 out of 23
circle_padding
hide_on_mobile
zoom_out_icon
logo.png

Your All-in-One AI-Powered Toolkit for Academic Success.

Available 24*7 on WhatsApp / Email

[object Object]