Business Plan: Evaluating 'A Place to Toast' Restaurant in UK

This project presents a comprehensive business plan for 'A Place to Toast', a UK-based restaurant designed to cater to long-distance drivers. The plan includes an introduction outlining the business concept, a motivation section highlighting the growing need for food and accommodation in the travel sector, and a detailed explanation of the business idea generation process, incorporating techniques like role-storming and six thinking hats. A feasibility study assesses the viability of the business, while the product/service details cover the range of offerings, including food, lodging, and overnight services. Potential market opportunities are identified, leveraging frameworks like PESTLE analysis. The marketing mix (4Ps) is outlined, along with an industry attractiveness analysis using Porter's Five Forces. The business vision focuses on customer satisfaction and an environmentally friendly ambiance. The conclusion summarizes the key aspects of the plan, emphasizing the importance of market analysis for attracting the right customer base. References to relevant literature are also provided.

Enterprise and
Entrepreneurship

Table of Content
 Introduction
 Motivation for the choice of business
 The process used in the making of business idea
 Feasibility studies conducted
 Details of the product or service to be offered
 Potential Market Opportunities
 Industry Attractiveness
 Business vision
 Conclusion
 References

Introduction
 A business plan is used a documented
strategy for an organisation that outlines
its plans, along with aspirations for
accomplishing them.
 It involves several aspects such as
financial projections, market research, go
to market plan, business purpose, vision,
mission and aim statement of the
business.
 It also engages key people who are
answerable to for attaining the objectives
may also be covered in the business plan,
as well as timeline.

Continue
 In this presentation, a business plan will
be created for the company “A Place to
Toast” which is a restaurant business in
UK.
 This restaurant is famous for providing
overnight services to their customers
while providing night stay for the long-
drivers who take long rides.
 It is a small lounge in city which typically
has 9-10 rooms in the premise.

Motivation for the choice of business
 Nowadays, it is seen that the need for good
food and accommodation for long journey
riders has been increasing day by day.
 The food industry is growing and become
one of the top exploring sectors where
company can evolve and build themselves.
 It helps entrepreneurs in making wealth
while fulfilling their vision, mission and
objectives of business.
 The motivation behind “A Place of Toast” is
that to be a home for the people who ride for
a long time and provide food and beverages
to fulfil their hunger.
 Rooms facilitate to customers are elegant
and comfortable at the same time.

The process used in the making of
business idea
 The business idea can be defined as an
idea for business to make profits and
wealth by catering different kinds of
services and goods to its customers.
 A Place of Toast uses different procedures
for making an effective business idea that
aids in achieving their vision.
 The following is mentioned with some
key techniques used in the “A Place of
Toast”:
 Role-storming
 Six thinking hats

Feasibility studies conducted
 The feasibility study includes a deep
assessment of what is needed to attain the
objectives of proposed business plan.
 It covers many aspects such as an account
of new product or service, sources of
financial, capital, market analysis and
many more.
 A business plan of A Place of Toast
provide short term lodging in small
building together with private
accommodations which is highly
customised.

Details of the product or service to be
offered
 The product refers as a tangible product which is
produced, purchased and utilised by the
customers while services is in intangible form
which is consumed by customers.
 The service or product is highlighted by the
business organisation which further provide
customers involving product lifespan, price of
product or service and many more.
 In case of the chosen business organisation, it
will cater a big range of product or food items
such as snacks, beverages, shakes, juice,
complimentary breakfast with room, overnight
lodging and many more in a beautiful location of
UK.

Potential Market Opportunities
 The potential market involves the new
opportunities for growth and development
where a business can sell or market their
products and services to the target
customers.
 The potential market opportunity is all
about examining how many customers or
enterprises belongs to target market.
 In respect of "A Place to Toast", potential
market opportunities are all about the
place where customers can be attracted
and retained. Market opportunities can
also be identified with the help of pestle
framework.

Marketing mix
 It is a part of marketing plan when
organization trying to introduce
something new and fresh in the target
market. In case of “A Place to Toast”, the
four Ps of marketing mix are mentioned
below:
 Product: It can be tangible and intangible
for the customers which aims to fulfil
certain needs and wants.
 Price: In order to survive in the target
market, the company needs to consider
the prices which can help in beating the
competition and also attract the customers
at the same time.

Industry Attractiveness
 Porter’s five forces model help in
analysing the industry attractiveness for
the “A Place to Toast”. The application
of model is done below:
 Competition in the industry
 Potential of new entrant into industry
 Power of supplier
 Power of customers
 Threat of substitute products

Business vision
 The business vision for “A Place to
Toast” is to supply and provide a great
level satisfaction and experience among
its target customers.
 Through innovation, it helps company to
attain its vision and aims of business.
 It also intends to cater clean, environment
friendly ambience for all the customers
who visit and stay.