Business Plan for Diamond Restaurant: Budget, HR, and USP

This report presents a business plan for the Diamond Restaurant, located on Uxbridge Road, Ealing W5. It begins with an introduction to the business concept, followed by a detailed analysis of the capital required, including startup and running costs, with a budget breakdown. The report then examines the restaurant's layout and equipment needs, specifying space allocation and equipment costs. Human resource requirements are outlined, emphasizing the importance of staff. The target market is identified, along with a promotion plan focusing on digital platforms. The report also covers the products offered, highlighting the restaurant's multi-cuisine approach. Competitors are identified using Porter's Five Forces model. The business's strengths, weaknesses, opportunities, and threats are analyzed using a SWOT framework, and the unique selling proposition (USP) is defined. The report concludes with a summary of the findings and references used.

INTRODUCTION TO BUSINESS
Diamond Restaurant

Table of Contents
INTRODUCTION
MAIN BODY
Capital required (Budget)
Layout and equipment budgets
Human resource requirements
Target market of the business
Products offered by restaurant
Identification of competitors
Strengths and weaknesses of business
Unique selling price
CONCLUSION
REFERENCES

INTRODUCTION
 Business is the process which is done to generate money by selling
goods and services.
 Business idea will be the opening of restaurant in the name of
Diamond restaurant which is situated at Uxbridge Road, Ealing W5.
 This study will discuss the amount of capital required in starting the
business with the location and layout.

Capital required (Budget)
 It means that how much funds is required by the business and it
includes start up cost and running costs of business.
Particulars Amount (€)
survey 1800000
equipment 10000000
Staff salary 5000000
rent 450000
Legal costs 20000
Marketing costs 236000
insurance 100000000
Fuel expense 1900000
maintenance 300400
Other expenses 200500

Layout and equipment budgets
 Layout will tell that how the complete space of the restaurant has been utilized.
 The size of the space is 1000 sq. ft. and total space is divided into entrance,
kitchen, restrooms, reception, bar etc.
Equipment budget
Particulars Amount (€)
ovens 2000
mixers 1400
refrigerators 20000
Safety equipments 25000
Washing equipment 10000
Electric grill 8750
others 24500

Human resource requirements
 Human resource plays vital role in business and effective human
resource will lead to successful business.
 Human resource which include the staff of the restaurant and the
performance by them will contribute in the growth of restaurant.
 In the restaurant there will be 10 employees which include HR,
hotel manager, kitchen staff, cleaning staff, bar staff, delivery staff.

Target market of the business
 Target market of the business means that the segment of population which have been
selected by the business.
 After selection company will target that particular audience and do research about
their likings and try to sell those things which are in demand by the targeted audience.
Promotion plan
 Company will advertise mainly using digital platforms like using social media handles
like Facebook, twitter, Instagram etc.
 Social media platforms will be used because nowadays majority of people are using
social media for promoting their business.

Products offered by restaurant
 It is multi cuisine restaurant so will be offering huge variety of
food items.
 The chefs of the restaurant are very expert, and they can create
food items according to the preference of the customer.
 The restaurant have separate dinning space where one can
organize birthday party, kitty party etc.

Identification of competitors
Competitors are identified by using porter's five forces model. This model is used to know the
complexity of the organization, it has five elements which are:
Threat of new entrants
 Launching new restaurant requires good level of investment and the intensity of new entry
is high as it is easy to enter.
Bargaining power of buyers
 The intensity of bargaining power of buyer is high as they have many options.

Cont..
Bargaining power of supplier
 Suppliers are the party who supply raw materials to the business.
Threat of substitute products
 This threat is reasonably high as the customer have lots of choices for the restaurant.
Competitive rivalry
 It means that how much competition is there for the restaurant and the intensity of this are
very high.

Strengths and weaknesses of business
It will be explained with the help of SWOT framework which have four
categories.
 Strength
 Weaknesses
 Opportunities
 Threats

Unique selling price
 The USP of diamond restaurant is they give value to the customer and the
prices are also reasonable.
 The ambience which include the interior and atmosphere of restaurant is also
very comfortable.