Entrepreneurship Business Plan Report: Crave It, Repeat It Restaurant

This report presents a detailed business plan for a new restaurant named "Crave It, Repeat It," focusing on healthy food options in London's Notting Hill. The plan includes market research, utilizing both primary and secondary methods, to understand consumer needs and competitor strategies. It addresses ethical dilemmas, such as the decision to reject an advertising offer due to the company's negative image and unethical practices. The report also covers employment practices, specifically zero-hour contracts, ensuring compliance with equality and diversity laws and outlining employee rights. Furthermore, it analyzes the restaurant's assets, liabilities, incomes, and expenses, including a cash budget to manage financial aspects. The business model emphasizes revenue generation and value proposition, aiming to provide healthy, tasty food while promoting eco-friendly practices and social values. The report concludes with a summary of the business plan and its key components.

Business Plan

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
TASK 2............................................................................................................................................2
TASK 3............................................................................................................................................3
TASK 4............................................................................................................................................5
Employing staff members on Zero- hour contract.................................................................5
TASK 5............................................................................................................................................6
Assets , liabilities, incomes and gains of restaurant...............................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business plan means brief description of any new business. It includes, capital, plans,
organisational goals, objectives, etc. the study will include various methods of market research,
brief description related to ethical dilemma and employment rights of members of zero hour
contract. Recommendation to the situation of ethical dilemma is also presented in the present
report.
TASK 1
Setting up of a restaurant:
Recent surveys shows that the number of restaurants and mobile food outlays is
increasing with a faster pace after a decline of 2009. Alone in 2017, there were 86,627
businesses operating in the restaurant and mobile food service industry in the UK. The food
industry is growing with a faster speed generating higher level of revenues or the hotel and
restaurant owners (Bagwell, 2018). A small restaurant is being opened up in the finest locality of
the London which delivers exquisite service and food quality with a twist of the healthiness In
the all the foods items serves in the restaurant. It will be called with a name of “ CRAVE IT,
REPEAT IT”. The location is sleeted as Notting hills in the west London which is famous for
serving the finest burgers in London.
Name of the business: CRAVE IT, REPEAT IT.
Target consumers: The target consumer for the business are the one who prefer to have
healthier food for their meals without compromising the authentic taste of the food articles
serves. Precisely, the people who are more inclined towards fitness which includes the
professional and young people. The target consumers are chosen in accordance with the location
as the people in the vicinity of the Notting hills prefer healthy snacks and food with keeping
them healthy as well as satisfy their cravings.
Business model: The restaurant follows a mixed model for its business which is revenue
cum value proposition model in this model business will keep its focus on maximization of the
profits alone with value addition for the restaurants and its consumers as well. With enhancing
the values and goodwill of the firm, revenues of restaurants can be increased which is ultimate
goal of the entity.
Visual identity of the restaurant: The restaurant will indulge in preparation of the
foods with organics raw material only which will be taken from the surrounding areas of the
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Notting hills (Gordon and Brezinski, 2016). Moreover, the ingredients with higher levels of
fats and carbohydrates will not be taken in preparation of food items rather all will be
substitutes with healthier option, without compromising with the taste and quality.
The logo of the restaurant itself presents the smart ides to statist the consumer craving
with taking care of their health and care. The diet foods is presented with a whole new twist and
spark of new taste to it.
Social values: every person who comes through the doors of restaurants will be resected
be it staff or the guest. The business will be committed to bring in the highest level of energy,
knowledge and enthusiasm to the daily basis.
Environmental values: the restaurant will indulge in eco friendly practices with having
water recycle plant (García-Segovia, Harrington and Seo, 2015). Along with this all the reusable
articles in the business are eco friendlily as the packing materials for the food items are made
more plane and laves which are biodegradable this will also provides employment to the locals
and people around the locality.
Equity and diversity: the restaurant believes in equal treatment and diversification of the
workforce. All the staff and the guest of the restaurant will be tarted with equality without any
discrimination. The employee of the business also promotes diversification of its employees
which includes recruitment from different places as per the professional skills.
TASK 2
Market research:
Market research is the major task to be performed by any organisation. It includes
analysis of current market situations, consumer needs and demands along with the strategies and
performance of the competitors.
Complete research on market can be done through following stages:
Primary research:
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Primary research means gathering information about market from some original sources
like surveys, observation of market, questioning directly from the customers, etc. (Bell, Bryman
and Harley, 2018). it can be done with the help of social media, telephones, Emails, etc.
Crave it Repeat it will do primary research through direct questioning from customers
and surveys through telephones and social media. It will help company in identifying actual need
and demand of customers and also their innovative expectations from food industry. These
informations will enable the company in innovate unique and foods that can satisfy the
customers more effectively.
Secondary research:
In secondary research, one gathers informations through some existing researches
available on internet, social media, magazines or any other sources (Brace, 2018.). Statistical
data of different companies, data available on internet are some sources of secondary research.
With helps of secondary research, Crave it Repeat it enables to know the past data and
experience, profitability of competitors which can help it to develop best market strategy for its
better performance in the market.
Quantitative research:
In general, it means collection of numerical data through various sources like surveys,
past sales of companies, their profit ratios, etc. the company will collect past sales information of
competitors to predict its future sale, profit and future growth in the market.
Qualitative research:
It refers to identifying views and attitudes of customers towards industry through having
conversation with customers. Company will do qualitative research in order to analyse
customers' interest, demand from product and services in order to give them the best satisfaction
and attract maximum customers towards the company's products.
TASK 3
Given case situation presents that business entity has opportunity in relation to promoting
websites at discounted rates. However, as per case, concerned advertising company has negative
market image. Moreover, such business unit is treating its personnel undesirably or badly. In
other words, company has negative image due to the involvement in unethical practices such as
discrimination, bullying and harassment. Advertising company has maintained higher target
audience, thousands of people. In accordance with the case given, high risk is associated with the
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firm that association with concerned advertising company will affect employee motivation
negatively. Under this situation, company is facing ethical dilemma whether to accept offer or
proposal given by advertising firm. The main motive of firm is to maximize stakeholder’s value
by performing activities ethically. Along with this, objective of company is to create highly
satisfied and motivated workforce. On the basis of such aspect, business unit should reject offer
given by advertising company pertaining to promotion. According to the case of BBC,
employee’s motivation was affected negatively due to negative environment at workplace.
Referring the case and scenario, it is suggested to the firm that it should not accept proposal
offered. Moreover, presence of demotivated staff highly impacts sales as well as profitability and
thereby stakeholder’s value.
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TASK 4
Employing staff members on Zero- hour contract
Compliance with equality and diversity law while selecting applicants
Zero – hour contract workers are those which are hired on contract basis and there are no
particular hours of working. The restaurant business has grown enough and is now going to
employ 2 staff members for performing various operations of restaurant. Organization while
selecting the applicants for performing various activities of restaurant must comply with the laws
and regulation as per the equality and diversity law (Baker and Kelan, 2018). The applicant for
the job role must be provided with fair chance to show its skills and knowledge for the particular
job role in restaurant. According to the equality law the applicants will be provided with equal
opportunities and will not be discriminated on the basis of age, gender, religion etc. While
selecting the staff members for “Crave It Repeat It” restaurant the organization must ensure that
the applicants are treated as per the law and are offered with the fair wages according to their
job role. Restaurant human resource department will make sure that all the applicants are
provided with equal chances and are selected on the basis of their intelligence and knowledge
and not on the basis of any discrimination. The selected employees will be provided with the job
role on basis of their qualification and will be treated equally with discrimination. For example,
the employees will be provided with equal wages according to their job roles which is
mandatory as per equality and diversity law.
Rights of new employees selected on Zero- hours contract
There are various rights which are provided to workers employed on the basis of zero –
contract hour this are as follows:
 The employees hired by the restaurant on zero- contract hour will be provide with
statutory employment rights.
 Also, the employees are provided with rest time to remove the tiredness and fatigue
(Zero-Hours Contract Workers, Their Rights And Holiday Pay, 2016).
 The restaurant will provide the workers with minimum national pay wages according to
the equality law.
 It is the right of workers to demand leave for emergencies arsing where the dependent is
involved.
 The workers will be provide with the flexible working hours.
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 The employees of the restaurant will be provide with maternity or paternity leaves.
 The employees will not be discriminated on the basis of age gender, religion etc.
TASK 5
Assets , liabilities, incomes and gains of restaurant
ASSETS
 food ingredients
 table & chair
 Building
 Food making equipment
 cash
LIABILITIES
 Account payable
 Loans
 other liabilities

Assets for the restaurant includes those items which are required for running the business.
It consists of the food ingredients, table and chair etc. liabilities for the business are the
obligations which the firm have to pay and includes account payable , loans etc. Incomes for the
business are the revenue which is generated by providing the products and services to customers
and it consists of sales revenue and other incomes. The expenses for the restaurant consist of
those which are made for providing or selling the products and services to customers and it
consists of advertising expenses, rent, salary etc. These incomes and expenses are considered for
identifying the profitability of the restaurant. The assets and liabilities of the restaurant will help
in determining the financial position of the business in the market.
Cash budget
Particulars January
Cash inflows
Opening cash inflow 20000
Sales revenue 15000
Other income 10000
Total cash inflows 35000
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Cash outflows
Administration expenses 4000
Advertising expenses 3000
rent 2500
wages 5000
Total cash outflows 14500
Cash deficit / surplus or closing cash balance 20500
Further, cash flow problems can be avoided by firm through undertaking budget and
budgetary control tools. As such tools help in assessing deviations and taking corrective
measures within t6he time frame.
CONCLUSION
The business is set up as opening a restaurant present healthy and ids food with a twist
of taste. The business promotes equity and diversity in the operation and well in recruitment
process. The zero hour contract employees have been given all the rights as given to all other
employees. Both primary and secondary research have been conducted before setting up of the
business.
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REFERENCES
Books and Journals
Bagwell, S., 2018. From mixed embeddedness to transnational mixed embeddedness: An
exploration of Vietnamese businesses in London. International Journal of
Entrepreneurial Behavior & Research. 24(1). pp.104-120.
Baker, D. T. and Kelan, E. K., 2018. HRM practices to diversity management: Individualization,
precariousness and precarity. In Human Resource Management (pp. 117-134).
Routledge.
Bell, E., Bryman, A. and Harley, B., 2018. Business research methods. Oxford university press.
Brace, I., 2018. Questionnaire design: How to plan, structure and write survey material for
effective market research. Kogan Page Publishers.
García-Segovia, P., Harrington, R.J. and Seo, H.S., 2015. Influences of table setting and eating
location on food acceptance and intake. Food quality and preference. 39. pp.1-7.
Gordon, R.T. and Brezinski, M.H., 2016. The complete restaurant management guide.
Routledge.
Online
Zero-Hours Contract Workers, Their Rights And Holiday Pay. 2016. [Online]. Available
through : <http://www.mondaq.com/uk/x/740248/employee+rights+labour+relations/
Zerohours+contract+workers+their+rights+and+holiday+pay>
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