Analysis of Pacific House Restaurant's Entrepreneurship Plan

This report provides a comprehensive analysis of the business plan for Pacific House, a Chinese and seafood restaurant located in Melbourne, Australia. It begins with an executive summary and table of contents, followed by a description of the organization, its mission, and long-term objectives. The report then delves into the food industry, competitive analysis, and identification of key success factors. A detailed SWOT analysis is presented, evaluating the internal strengths and weaknesses, as well as external opportunities and threats. The report further explores growth potential strategies, including the introduction of bakery items and advertising. A business plan is proposed, focusing on authentic Chinese and seafood cuisine, and addressing business planning and structure. The report concludes with a discussion of the business name and references.

Running head: ENTREPRENEURSHIP
Entrepreneurship
Name of the student
Name of the university
Author note

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Executive summary
The report consists of the analysis of the plan of the new venture of the entrepreneurs of the
directors of the restaurant named Pacific House situated in Melbourne of Australia. The
objective of the report is to analyze the business plan of the same and the description of the
long term objective goals. The report consists of the internal and external factors of the
restaurant and the competitive strategy. Pacific House belongs to a food industry and
therefore the key factors of this industry have been discussed in the report. The report further
includes a brief analysis of the competitive strategy. The report ends with the proposal of a
business plan that can be effective in making the business a successful one.

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Table of Contents
1. Description of the organization..............................................................................................3
2. Mission of the organization....................................................................................................3
3. Long term objectives of the organization...............................................................................3
4. The Industry description........................................................................................................4
5. Competitive analysis..............................................................................................................5
6. Identification of key success factors......................................................................................7
7. Detailed SWOT analysis for Pacific House...........................................................................8
8. The Growth Potential Strategies........................................................................................9
a) Identification of potential strategies..................................................................................9
a) Evaluation of potential strategies....................................................................................9
9. Business plan........................................................................................................................10
9.1 Business Planning & Structure:.....................................................................................12
9.2 Business Name:..............................................................................................................13
References................................................................................................................................14

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1. Description of the organization
The organization that has been chosen for this particular project is the Pacific House
which is a food organization. It is situated in Melbourne in Australia. Pacific House is a
restaurant that concentrates on the selling of foods like crabs, lobsters and many other sea-
foods. The restaurant focuses on the sale of the sea foods. The restaurant initially started with
sea foods but later it slowly started to focus on the beverages. The organization brought about
beverages like coffee, different flavors of tea, chocolate lashes, and all types of soft drinks. It
did not happen in one single day. It was the outcome of a year-long process. At present the
company has a huge chain of customers. The company is situated in the suburb area of
Melbourne.
2. Mission of the organization
The mission of the organization is to ensure good quality of food at reasonable prices
across to cater to the needs of the global population. The organization aims at providing
proper food to the families. It aims at providing healthy and hygienic food to the people and
makes their food experience a loving one and a memorable one. The organization looks
forward to provide comfortable dining experience to all the global customers. It also looks
forward to provide various ranges of cuisines in to the foodies who love to have different
variety of foods. The further mission of the organization is to establish long term relationship
with the customers.
3. Long term objectives of the organization
The organization belongs to a food industry and therefore the long term objective of
the organization includes the launch of more outlets. The organization majorly focuses on the
Chinese cuisine and sea-foods. The company should therefore concentrate more on Chinese

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population and the population that loves to have sea foods like the people of the continental
region (Thyil 2014). This can happen only through market research and market segmentation.
To create a remarkable position in the market it is required for the organization to think about
the long term goals and enhance long term relationship with the customers it is important for
the company to maintain the quality of the food. It will ensure a good relationship with the
customers in the future and will a long term placement in the market (Schaper, et al 2014).
4. The Industry description
The industry in which the organization belongs to is the food industry. The food
industry is one of the biggest trends in the upcoming new ventures. The food industry
depends completely on the taste of the customers of a specific region. For example, Rice is
the staple food of a specific region; for example, in Asia people prefer to have rice. Wheat is
the fixed favorite choice of food of a specific region (Siqueira, Webb and Bruton 2016). In
many European countries bread is the staple food of many people. The pacific House deals
with the sea food and the Chinese food. The people of Australia love sea food, this is the
reason it is a unique concept and it is therefore making gradual progress in the competitive
market. Compared to Australia this cuisine would be more popular in China as the people of
China would love to enjoy this cuisine more. The unique thing about food industry is this is a
industry that will never face set back as people will never change their habit of having food
and with the growing work pressure in today`s world the need of quality time between the
member of the family will not decrease but will increase. It is possible only they can spend
some time outside in some restaurant while having food together (Schaper 2016).

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Source: (Taylor et al. 2014).
5. Competitive analysis
The restaurant should bring a change in the cuisine. The Chinese and the sea food
cuisine are good but some innovation should be made in the menu in order to survive in the
competitive market. The restaurant is located in the suburb and hence it should open more
branches so that it can reach out to more people. In order to survive in the market the
company has to maintain the quality of food and it should also concentrate on the interiors of
the same. The restaurant should also concentrate on opening of new branches in some other

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regions to expand the business. It includes the strategy of making the restaurant more
popular. Pacific Home should bring out strategies like offering special discount to the
customers, offering combo foods at reasonable price in order to give competition to the other
restaurants of the same region. The other competitive strategy includes the promotion through
advertisements. The restaurant print pamphlets that will include the details of the offers of the
restaurant and they should be distributed in maximum areas. The restaurant is situated in the
suburb. It should open more branches in the city to attract more customers. It should
approach investors to launch a franchisee to expand the business in order to survive in the
competitive market (Rose 2017).
Company highlighting Pacific house restaurants Other restaurants of the same
region
Market information Food and all types of
beverages
In maximum restaurants
there is only food and not
beverage. All kinds of
beverages are not sold in
maximum restaurants.
Product information Sea food and Chinese cuisine Typical Australian cuisines
like baked foods, fruit bars
and Chinese cuisine
SWOTT information a. The main strengths of the
restaurant are their exclusive
nature of food that they offer,
mainly Chinese seafood,
which is a rarity for the
a. The strength of other
restaurants is their exclusive
range of authentic Australian
food.
B. weakness for other
restaurants in these regions is

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region.
B. weakness for Pacific
House is that they are located
in Richmond, the inner
suburb of Melbourne, where
the footfall is little less.
C. the price of the foods is
comparatively more which
might be a big threat as this
region is not developed and
the people of this region
might not afford it.
D. through market research
they can develop more on
their price range and quality.
that they are not well
developed as they have poor
interiors and not exclusive
cuisine.
C. The variety of the cuisine
is the biggest threat of other
restaurants in these regions.
D. the other restaurants can
improve on their variety. It
has the opportunity to bring
more variety on the products
and interior of their
restaurants.s
6. Identification of key success factors
The key success factors of Pacific House, a seafood restaurant in Victoria are
elaborated as under:
The restaurant deals in quality Chinese seafood and BBQ dishes, which are a source of
craving for people of that region and act as a factor for success.

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As Pacific House is located in suburban region, mainly known for places of shopping, so the
restaurant would always attract customers, which would lead to increase in sale and hence
generate revenue for them (Ban 2012).
The ambience of the restaurant, cordial behavior of the staff and on-time delivery of services,
all contribute a lot towards the success of this restaurant.
7. Detailed SWOT analysis for Pacific House
SWOT analysis refers to the technique through which an organization’s strengths,
weakness, opportunities and threats get identified, which ultimately helps in planning for the
future.
Internal Analysis –
Internal Analysis would look into the Strengths and Weaknesses of Pacific House. A
short description of the two aspects is given below:
Strengths –
One of the main strengths of the restaurant is their exclusive nature of food that they
offer, mainly Chinese seafood, which is a rarity for the region (Bengtsson and Seddon 2013).
Another significant strength for the restaurant is that, they provide prompt service without
compromising on the quality.
Weaknesses –
A major weakness for Pacific House is that they are located in Richmond, the inner
suburb of Melbourne, where the footfall is little less.

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The items offered by the restaurant are specific to the needs of a particular region, with no
variety (Frost and Laing 2016). With Australia having people from all across the world,
catering to the needs of the customers in a wider scale is a must.
External Analysis – External Analysis would take care of the Opportunities and Threats for
Pacific House. The two aspects are discussed as under:
Opportunities –
Pacific House has ample of opportunities to attract more customers in their restaurant
if they can expand their base of items. Through proper market research, they can aim
understand the type of customers residing in the region and accordingly customize food items
for them.
Threats –
Sea food items and BBQ dishes, which are mainly offered by Pacific House, is a
major threat for the restaurant as they might lose out on their potential customers due to lack
of variety.
People out of the suburban territories are not aware of the fact that Pacific House exists and
what they offer to their customers. Hence, they might lose out on a major amount of the
revenue (Salzberg 2016).
8. The Growth Potential Strategies
a) Identification of potential strategies
Every organization aims to design certain strategies which would help in
growth. The strategies are framed out as follow:

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Pacific House can introduce bakery items into their menu through which they can attract
more and more customers, who might be interested in having cakes and pastries (Strickland
2013).
The restaurant can advertise in leading newspapers, journals to inform people about the
additional food items and opening of outlets in other locations.
a) Evaluation of potential strategies
The growth potential strategies are evaluated below:
Bakery items have great potential for making any restaurant grow as they are generally quick
bites and people can have them on the go. This would also lead to promotion through word of
mouth (van der Meer 2012).
Advertisements in leading newspapers and journals would help make people aware of
the best offers on certain items, thus reach out to the customers on wide scale (Kim Kim and
O'Neill 2013).
9. Business plan
Pacific House is a restaurant for Chinese and sea food that would be serving authentic
Chinese and sea delicacies. These would be made to arrange in ensuring the Chinese and sea
food would be authentic and of best quality made for every customer out there. Pacific House
aims at providing delightful Chinese food and different types of beverages made with special
care and in. There has been a considerable amount of growth in the amount of Chinese ready-
made foods are being provided by the convenient stores and supermarkets in the recent years
and many food stalls in different shopping malls (O’Mahony and Lobo 2017).
The opening time of Pacific House store was being determined by several factors, this
takes in the higher interest volume on the service of the lunch and dinner during the time of

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the primary research. It was being suggested by numerous of the participants that the business
should release during the lunch time that is after 12 noon and in the evening after people
return back from their work. Pacific House also took into consideration the opinions of the
interviewees related to the busy opening hours for both the businesses in determining proper
hours of trading for the same. It was being decided that the business would remain open from
11 A.M to 11 P.M. It would remain open for lunch and dinner that is from 12 Noon in the
afternoon and after 7 in the evening when people will come to have their evening snacks and
continue to stretch for dinner.
The owners of the Pacific House started this business as a part time job initially.
There are three founders of the restaurant. They planned that one would look into the
accounts, one would look after the legal matters and the other would look after the
availability of the raw materials that is necessary for conducting the business. This was their
initial planning. From their gradual planning in the past, today they brought the restaurant to
a good position (N. Bolton, et al 2014).
Once the business has started trading, Pacific House has intent in establishing positive
relationships with the confined community along with the local business. This is for the fact
that the sea foods like crabs, lobster and different fishes would be prepared newly and daily.
The products which would not be sold have been decided to be donated to the local food bank
and to other neighboring homeless shelters. Pacific House would also be working with the
domestic business for sourcing the components needed in manufacturing the core products of
the business (Moodie, et al 2013).
The only paid form of advertisement tool would be the business cards and the flyers
and the pamphlets that would be used in giving the essential information of the business to
the general public along with the initiatives like the loyalty schemes and discounts. It would