Business Plan: Entrepreneurship Report for Dragon Feast Restaurant

This report presents a comprehensive business plan for Dragon Feast, a proposed fast-food restaurant in Singapore. It begins with an executive summary and an introduction outlining the business's goals, which is to offer various food items at competitive prices to meet the increasing demand for snack outlets. The report details the marketing and sales strategies, including grand opening plans, in-store and local marketing tactics, and market analysis. It covers sales estimations, key decision-makers, product sourcing, and consumer communication strategies, including word-of-mouth marketing. The management team and organizational structure are outlined, alongside a personnel plan. A significant portion of the report is dedicated to financial feasibility, including sales forecasting, break-even analysis, and an operational plan that uses Porter’s value chain model. The report concludes with an action plan and references, supported by appendices containing financial calculations and other relevant data. The business aims to attract customers by offering Waffle fries with different sauces in an innovative environment.

The Entrepreneurship Report

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Executive Summary
In any organisation, making plans become very much important. The plans regarding the
different departments can be made citing the resources available with the firm. In order to
make sure that plans are working according to what was planned, it is essential that
companies checks its feasibility. A Dragon feast is a restaurant is planned to open in the
Pulau Ujong. It is established as an international franchise by the innovative approach to the
image of the firm and presentation. It will offer all the type of foods at lowest of prices. This
plan sticks towards giving fulfil the increasing demand for snacks type of outlets at the highly
visited places in Singapore. This report gives the marketing and sales plan for the company
along with financial feasibility analysis. In the last section of the report, operational and
action plan has been given so that they could easily implement their plans.
Contents

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Executive Summary...............................................................................................................................1
Introduction...........................................................................................................................................2
Background of the business plan...........................................................................................................2
Marketing and Sales plan for Dragon feast............................................................................................2
Strategies of marketing used by firm.................................................................................................3
Grand Opening..............................................................................................................................3
In store marketing..........................................................................................................................3
Local store marketing....................................................................................................................3
Local Media...................................................................................................................................3
Market analysis..............................................................................................................................3
Sales estimation.................................................................................................................................4
Key Decision Makers....................................................................................................................4
Product’s sourcing.........................................................................................................................4
Sales strategy.........................................................................................................................................4
Communication with consumers........................................................................................................4
Word of Mouth..................................................................................................................................5
Management Team............................................................................................................................5
Organisational structure.....................................................................................................................5
Personnel plan...................................................................................................................................5
Financial feasibility...............................................................................................................................5
Sales Forecasting...............................................................................................................................6
Break-Even Analysis.....................................................................................................................6
Operational Plan....................................................................................................................................6
Components of the production process..............................................................................................6
Porter’s value chain model............................................................................................................6
Action plan............................................................................................................................................8
Conclusion...........................................................................................................................................10
REFERENCES....................................................................................................................................10
Appendix.............................................................................................................................................12
Appendix 1......................................................................................................................................12
Appendix 2......................................................................................................................................12
Appendix 3......................................................................................................................................12
Appendix 4......................................................................................................................................13
Appendix 5......................................................................................................................................13

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Introduction
Dragon feast is a restaurant in the Singapore that aims to provide services related to fast food.
An effective business plan requires a detailed analysis of the situation that could be
problematic for the company. Business plan will provide each of the steps that will help the
idea to get succeeded along with its support to attain short and long term objectives (Mullins,
2012).
Background of the business plan
The major priority of the business plan is to present a single outlet in a busy area, specifically
in one of protruding Singapore’s places. After that the efforts of the business will be
concentrated towards creating more such retailing outlets in the nearby locations. This
business pan shows the innovative approach towards introduction of such restaurants at these
locations. Dragon feast is going to target younger people so that they can enjoy Waffle fries
with totally different kind of sauces in such an innovative environment.
Marketing and Sales plan for Dragon feast
Dragon feast is concentrated towards serving cone based gourmet fries with a different taste
of sauces. This business has a concept of Waffle Fries where the fries are fried two times with
fresh potatoes. The business unit gives excellent services where there is friendly environment,
energetic lifestyle and atmosphere of fun (Stutely, 2012). The business will recreate concepts
of companies like Jamba Juices or Starbucks as they are also concentrated towards giving
most of the key target markets among the age group 16-40 years. A complete transparency
will be maintained in all the processes of service delivery i.e. from peeling of potatoes to
frying. A brochure will be provided to the customers where they can gain knowledge about
the sauces and fries. Appropriate decoration, differentiated counters, display menus are to be
present in the firm. The business will focus on selling fries and any kind of alcoholic drinks
will not be welcomed within the outlet. This would be done to cheer the healthy food
environment. Company will only offer soft drinks with the fries. This company aims to offer
customers with food that is valuable for them.

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Strategies of marketing used by firm
Grand Opening
A festival type opening will be planned for this outlet. On the eve of the opening company
will provide food at 70% discounts. This will help in attracting new customers towards
business and hence word-of-mouth marketing can become very easy.
In store marketing
For this the company has planned to permit consumers to have a look at the brochures where
they can have in-depth knowledge of the business concept and philosophy. Apart from this,
company can utilise party catering, in-store outlook of cooking fries, wall posters etc.
Local store marketing
In this venture, Dragon feast will print brochure to produce itself in front of their consumers.
It will also offer free special t-shirts in the local store’s event.
Local Media
Company will create web-pages that will contain news, history and philosophy. Local
magazines will be more useful for targeting their prime consumers. Alongside of this,
restaurant will promote its services by putting large advertisements in the Newspaper all
along the month so as to let people understand about their idea of business.
Market analysis
There are certain kinds of operational challenges being faced by this venture that offers full-
services (Jasra, et al. 2011). Some of the operational challenges include rents, high labour
costs etc. Unlike full-service diners, these type of businesses need to have answers for these
challenges. Due to the nature of business, these types of companies have to be able to conduct
frequent campaigns and have lower prices so as to make themselves as an attractive option
for the consumers especially in the time of economic downfall.
Cost can be reduced with the help of technology. In the era of technological business, it has
become very much essential for the firms to take use of different technologies for improving
the competence in working as well as reducing the labour dependence (Blackburn, Hart and
Wainwright, 2013). Cost acts as a key driver in any entrepreneurial activity.

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Sales estimation
Key Decision Makers
Company has made customers as its key decision makers. Keeping younger people in mind
Merlin Park in Pulau Ujong is an appropriate location. Due to dense population of the area,
this area is one of the best to open entrepreneurial venture. Large numbers of high school
children avoid having food at home and go to shopping centres to have food and hence visits
at these fast food centres are increasing day by day (Glaub, et al. 2014). Adding to this, a
second target segment is of working people from Singapore that are young. They also like to
visit these places. Apart from this, it is also one of the prime tourist spots where large
numbers of people resides in this Zone. It is a site that is built by Singapore Tourism Board
hence attracts larger numbers of people from across the world who will love to have light
food at these spots.
Product’s sourcing
Distributors of dragon feast are able to give fresh potatoes to the company on daily basis.
They heavily rely on the local distributors. They have also made agreement with Firm X for
preparing sauces and the whole merchandises will be printed and produced by their partner
group in China.
Sales strategy
Their major sales strategy is to open make themselves available through both online and
offline mediums so as to gain maximum revenue and profits. In the later stage they have
planned for opening the outlets at other locations also based on the response they will be
getting for this business. All the individual settings will suffer constructing the native base of
the customers in their first three year of business. Their financial objective remains that their
outlet reach to around S$114,350 per year. Their unique flagship store is anticipated to earn
around S$220,400 per year.
Communication with consumers
Communication is a very essential part of the marketing and sales plan as it helps in
increasing the consumer’s awareness in the contemporary society (Massa and Tucci, 2013).
This venture needs to direct its tactics and programs towards the objective of briefing the
business idea and restaurant’s offering. In order to have effective communication, there need
to be high use of advanced technologies. Taking the help of their website will also help the

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company in increasing the visibility of the company and will also acts as source for word-out-
mouth marketing. Providing link of the company on other websites such as that of Singapore
tourism board or other major travel company will help the firm to give easy access to the
people who are coming to these people.
Word of Mouth
Food restaurants highly depend upon the increased numbers of satisfied consumers (Hiduke
and Ryan, 2013). These satisfied customers acts as a source of word of mouth marketing. In
food industry, this mode of marketing is best for increasing the attractiveness of business.
Hence Dragon Feast will have to make sure that they have higher numbers of satisfied
customers so as to convert this mode of marketing into effective marketing tool.
Management Team
The starting team of management is grounded on the people that are founders with little back
up (Awais Ahmad Tipu and Manzoor Arain, 2011). Experts will be required in different areas
for high levels of business growth and development. The established firm will not add extra
supervisors unless necessary. It reflects that staffs at the beginning should have to put their
additional efforts.
In the start they will have five founder members. Other additional people will have to put the
efforts towards the business development.
Organisational structure
Mr. Adams is the chief business development officer and financial officer in Dragon Feast.
Along with this Mr. Hendricks acts as a head of Human Resource development Department.
Mr. Smith is the head of marketing and sales and Mr. Shaun is the production’s head.
Personnel plan
Their workforce will be comprised of two cashiers, two cooks and two other staffs for other
additional activities. Cooks are trained in making different types of sauces and Waffle fries.
They will have to work for 40-42 hours a week.
Financial feasibility
It is understood to be as the level at which a project, strategy, change initiatives, or program
in the business is financially suitable or achievable (Lindborg, 2015). It is used for analysing
the likelihood and ability to effectively complete a program or project with all respect to all

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the pertinent factors. It must account for all the factors that are affecting it such as scheduling,
legal, economic and technological elements. The leaders of the projects will have to do
feasibility test for describing both negative and positive outcomes of the project before
actually making any kind of investments. The detailed analysis is done in the Appendix.
Sales Forecasting
It is understood to be as the step for assessing forthcoming sales (Brien, 2014). If sales
forecasting is done precisely, then it allows businesses to adopt well-versed business
decisions as well as short and long term performance. Businesses can implement its forecast
on the basis of economic trends and sales data. For major businesses it is easy to forecast
future sales which entirely depend on the past data. New establishments such as Dragon Feast
will have to make their predictions on information that is less verified such as market
research and competitive intelligence.
Break-Even Analysis
This is a type of analysis or method that is mainly used by the production management and
management accountants. Detailed analysis is given in appendix 5.
Operational Plan
Components of the production process
Dragon Feast sells fries as their major product along with totally different types of sauces.
Major products sold are soft drinks, Waffle fries and corporate merchandises. These types of
fries are available in low and high quantity with extra cheese and garlic. For the production of
such fries, there is use of high quality potatoes gained from different distributors. Spices are
the key to their product success hence are availed from different sources.
Porter’s value chain model
In order to understand their business operations, value chain can be highly beneficial. It
evaluates all the activities that add value to its customers. There are two types of activities in
any organisation, namely primary and secondary activities (Orman, 2010). Both the types of
activities are inter-dependent on each other. The way in which value chain activities are
performed has a higher influence on the costs and profit of the company.
Primary activities

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These activities are those which are considered to be the base of the business (Jurevicius,
2013). It consists of:
 Inbound Logistics: Dragon Feast will be making fries in the stores but the key
partners will also have the important role in the preparation of sauces. Dragon Feast
will have to maintain the long lasting and strong relationship with its major partners
and consumers. Along with this, the outlets will offer to take away services also to its
consumers. Additionally, the business managers will be responsible for taking account
of the delivery of items at stores.
 Operations: It is considered to the transformation activities that transforms the inputs
into outputs that is sold to the consumers. Dragon Feast will make high-quality fries
presented with sauces that will be made by their major partners. Apart from this, the
sauces will be made with different ingredients and spices and fries will be made from
high quality and fresh potatoes.
 Outbound Logistics: These are the activities where there is distribution of products
and services to the end customers. It consists of collection, storage and distribution
system and it can be both internal and external to the firm. Here Dragon Feast will be
established in several other markets and will begin offering services to the customers
from different sections of the society like working people, students or tourists.
 Marketing and Sales: Dragon Feast will advertise its product with the assistance of
diverse channels such as word of mouth, online promotions and grand opening party.
Moreover, the basic priority will be given to the online promotions and word of
mouth advertisement. It will act as one of the promotional strategy that will be able to
attract and target consumers.
 Service: Dragon Feast will provide the most appropriate of services to its consumers
in the outlets. Greeting people in the outlets is just the start of it. Customer Service
Department will also be present so as to help the customers in case they face any kind
of problems.
Supporting activities
Support activities add the value to the above mentioned primary activities (George, 2014).
Some of these activities are:
 Procurement: At the start of the business, Dragon Feast will aim to make contacts
with other suppliers for fresh potatoes and ingredients for preparing sauces and fries.

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Along with this, it offers different range of vouchers for maintaining effective
relations with all their suppliers.
 Technology Development: Dragon Feast will adopt all the advanced technologies that
will help in preparing sauces and fries. Along with this, company shall adopt ERP
system in future for ensuring the quick transfer of data and also for information
security maintenance.
 Human Resource Management: In Dragon Feast, the head of the department needs to
ensure that they hire best cooks and other staffs and proper guidance needs to be
given to them. Since the numbers of Staffs at the unit will not be very high hence it is
crucial that staffs are highly skilled.
 Infrastructure: Dragon Feast aims to provide customers with the environment that is
friendly and maintain energetic atmosphere when more numbers of Youngsters can
enjoy. Utensils and other cooking materials need to be of higher quality.
 Quality maintenance: In the food service industry, the most important role is played
by the quality that is offered by the company to its consumers. At the beginning stage
of the venture, the role of the quality maintenance in the success of the business
becomes more significant. If Dragon Feast will not provide high quality food to its
consumers, it is going to have impact on the image of the business in the market. In
the quality maintenance, role of the supplier becomes very much essential as they
provide company with the raw materials that is going to affect the output of the
company. Company needs to regularly have a quality check so as to ensure that they
have inflow of high quality input materials. The restaurants floor needs to be clean
and staffs must ensure that cleanliness is maintained after every customer leaves their
table.
Action plan
In the success of any business venture, most important role is played by the Action plan and
how it is implemented as it consists of all the steps that are applicable for achieving certain
kind of objectives (Catherine Henderson, 2014). The major requirement of the action plan is
remove all the things that acts as a barrier for achieving the objective of the firm, make a
timeline for when exact jobs can be achieved and regulate the types of assets that are crucial
to the business. In the management of project, a defined action plan is required which will act
as a blueprint for the managers for achieving bigger projects (Henderson, 2016).

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Milestone Start Date End Date Budget Department
Concerned
Follow up with
business plan
designers
1/2/2019 9/10/2019 $100 Business
Development
Presentation
Material
1/2/2019 9/4/2019 - Business
Development
Suppliers
follow up
25/2/2019 11/10/2019 $150 Business
Development
Communicatio
n
21/3/2019 24/7/2019 - Marketing
Printing
materials
11/3/2019 10/5/2019 $850 Marketing
department
Construction 14/6/2019 7/12/2019 - Business
development
department
Recruitment 16/8/2019 18/8/2019 $550 Human
Resource
Department
Grand opening
party
7/9/2019 10/9/2019 - Marketing
department
Staff Training 10/10/2019 14/10/2019 %900 Human
Resource
Department
This action plan date might change in terms of date based on the requirement of the business.
Conclusion
From the above based report, it can be concluded that Dragon Feast is the company that is
going to establish the outlet at Merlin Park in Pulau Ujong. This restaurant offers Waffle fries
with different types of sauces. It aims to provide different and unique type of taste experience